Business News

NGX Promotes Sustainable Capital Flows, Diversified Listings

capital inflows

By Aduragbemi Omiyale

The Nigerian Exchange (NGX) Limited has intensified its efforts to deepen the country’s capital market by ensuring stakeholders have investment options in a bid to achieve sustainable capital flows.

The local bourse has keyed into the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme of the United Kingdom.

At two MOBILIST events hosted by the NGX and the British Deputy High Commission (BDHC) in Lagos, the acting chief executive of the exchange, Mr Jude Chiemeka, said, “Our partnership with MOBILIST is geared towards advancing market efficiency, sustainability reporting, and integrating Environmental, Social, and Governance (ESG) principles.

“This event represents a significant milestone in our ongoing efforts to enhance the performance and deepening of Nigeria’s capital market by promoting sustainable capital flows and diversified listings.

“The discussions from today are poised to yield actionable insights on how we can collectively catalyse economic growth through the capital market.

“By harnessing the potential of our capital market, we can unlock new opportunities for funding businesses, fostering entrepreneurship, and ultimately driving sustainable development across Nigeria.”

In his remarks, the British Deputy High Commissioner, Mr Jonny Baxter, said, “The UK government is committed to supporting Nigeria in the continued development of its capital market to help deliver the country’s economic goals, including its ambitions to transition to clean energy solutions.

“A liquid and well-regulated capital market benefits the entire economy by enabling companies to raise capital to fund their expansion, which, in turn, helps deliver crucial development, job opportunities and improved incomes.

“MOBILIST’s focus on stimulating the creation of innovative listed products can make a unique and impactful contribution to achieving these objectives.”

Business Post reports that MOBILIST offers equity capital and technical assistance to facilitate the listing of pioneering products that support the delivery of the SDGs. It also provides policy and research support to enhance the environment for issuers, investors, and intermediaries.

Nigeria’s capital market can help deliver the country’s economic goals, including the ambition to transition to clean energy solutions, but needs around $10 billion in financing per year to meet the Sustainable Development Goals (SDGs) by 2030.