The need for managers of stock exchanges in Africa to collaborate in attracting investors, especially those pivoting from the Chinese market to boost local equities market across the continent has been emphasized.
The Group Chief Executive Officer of the Johannesburg Stock Exchange, Leila Fourie, made the call when hosting a delegation from Nigerian Exchange Group Plc (NGX Group) and the Securities and Exchange Commission, during a visit to the JSE for a strategic engagement.
Hosting the Nigerian delegations composed of the NGX Group Chairman, Umaru Kwairanga, and SEC Director General, Emomotimi Agama, Fourie, stressed the need for synergy among African exchanges to bolster market appeal across Africa.
“There is a clear opportunity for African exchanges to unite in drawing global investment interest towards the continent,” he stated.
A statement signed by the NGX spokesperson, Joseph Kadiri, said Fourie, emphasized the importance of growing African capital markets in the global investment landscape, stressing that recent positive trends in South Africa’s capital market, including reduced outflows and improved investor sentiment, positioning it as a key player in the continent’s financial ecosystem.
In response, NGX Group Chairman, Kwairanga expressed optimism about the mutual benefits of the visit, noting, “Understanding JSE’s governance structure, as a demutualized exchange like NGX Group, will significantly influence our decision-making moving forward.”
SEC Director General, Agama underscored the strategic importance of the visit, stating, “SEC fully supports initiatives like this, which have the potential to steer the Nigerian capital market towards greater heights. The learnings from this engagement with JSE, another demutualized exchange, will be instrumental to our market’s development.”
The Group Managing Director/CEO of NGX Group, Temi Popoola, reflected on the discussions, saying “This has been a productive engagement, and we look forward to a synergistic partnership with JSE across several areas that would contribute to market development and inform our strategic orientation as an Exchange Group. We are particularly optimistic about the potential of private markets, innovation, and technology in product development to drive transformation of our business and markets.”
The statement explained that the visit, which was aimed to expose the Nigerian delegation to JSE’s governance best practices and deepen institutional cooperation, reflects NGX Group’s commitment to continuous development, global partnerships, and alignment with international standards, fostering growth in Nigerian and African capital markets.
Some of the other delegates from NGX Group and SEC present during the engagement were Nonso Okpala, Non-Executive Director, NGX Group and Bola Ajomale, Executive Commissioner, Operations, SEC.
