Where it all started: A dream of becoming the bridge between the market and investors and a critical component for financial communication of developments in the Nigerian Capital Market.
Five (5) years ago, the MD/CEO of Proshare Nigeria Limited, Mr. Olufemi Awoyemi, FCA had a dream of guiding people into excellent decision-making as regards their finances. His passion for facilitating individuals and corporate organisations in Personal Finance and Corporate Financial Communications, respectively transformed into the now known Proshare.
On Thursday, December 1, 2011, Proshare will be five years old amidst the challenges, crunch and despair currently surrounding the sector. It has progressively evolved, maintaining a singular vision of becoming Nigeria’s foremost Financial Communication and Analyst Firm bordering around the Capital Market.
It continues to maintain an uncommon belief that the current market situation will turn around.
In a statement made by the MD/CEO, Mr. Olufemi Awoyemi, he says, “It is five years since we embarked on this journey and we would not want this moment to pass without honouring with sincere gratitude and appreciation all those who have made this sail, smooth and successful - the highly motivated and dedicated Proshare Team, our supporters, partners and our esteemed clients.” He also adds that “still existing in a business that is built on the basis of the Nigerian Capital Market with its present shape, takes vision, perseverance, and passion. We started with a single message; ‘Intelligent Investing’. That is to say that our purpose was to continually guide individuals, organisations and through advocacy - the regulators into making financial and business decisions at all times, leveraging the timely, credible and actionable information available to them from our interventions on the Proshare web portal. This is who we are, this is who we have been, this is what we do and this is what we would remain.”
An interview held with the Chief Operating Officer, Reshu Bagga (Mrs.) unveils that this commemoration strikes a new beginning for Proshare, considering the challenges we have had to overcome to remain a key component of the market at a time when a change of course appears more expedient than to remain a force for good. She further explains the transition of Proshare below:
Proshare 1.0 the dream of becoming a Reality-2006
A dream of becoming Nigeria’s foremost Financial Communication Firm was birthed with its incorporation on December 1, 2006 – getting involved at a crucial stage when the market was set for a take-off owing to the banking consolidation.
Proshare 2.0 Filling the Missing Gap- 2007
Financial Information and Communication got a bridge with the Launch of Proshare 2.0 Project. We strategically positioned the service to offer investors an alternative and independent access to the myriad of information that was being disseminated in a market that had the twin challenge of managing developmental issues as well as regulatory gaps in policy implementation. Relevance was defined through our ability to confront, engage and provide alternative thinking and rationale on investments issues.
Proshare 3.0 Intelligent Investing H2: 2007 and 2008
Our payoff line has always been ‘intelligent investing’ and at this point we were focused on guiding Investors correctly into intelligent investing. Organisations leveraged our expertise through ‘The Analyst’ for their market engagements whilst individuals relied on our actionable information published on the site to engage.
Proshare 4.0 surviving amidst the crumbled Market 2009 to 2010
We published the NCM 2009 report where we laid the issues bare. There was going to be an unusual downtrend in the market and the investing public needed to prepare for a market without the regular boom to buy and sell side activities. This was the most challenging period for the market and our firm.
Proshare 5.0 Different thinking for the different Market -2011
At this stage, we sensed that the game had changed due to a myriad of policy of and attitude change in the market. We launched a new theme – that aggregated the direction that developments would begin to take from the monetary and legislative angles that advocacy will have to be the new song to berth the market we all desire. Proshare knew there was an approach to fixing it and we began to communicate with the market through a new web portal that recognised the expanded market space to delivering on the new market that was emerging.
Strategically, our professional reports, (100 days after, Analysts Reports, NCM Reports e.t.c) gradually made the case clearer and in tune with the new thinking at the NSE/SEC/CBN to ensure that communications from the service was relevant to the markets wishes.
The Future of the Financial and Economic cycle
Proshare is convinced that the deepening of the market in 2012 is the first in a series of steps being undertaking by stakeholders, the market, the regulators and the legislature to ensure that the Nigerian capital market achieves the linkages it requires to build upon.
As part of our activities marking the fifth anniversary of the service, the News Editor and Advert Manager for Proshare Messrs Temple Asaju and Franklyn Okotie respectively revealed that the company would be visiting the Modupe Cole Memorial Child Care and Treatment Home-School on Friday, December 2, 2011 to encourage the children of hope by making donations in part fulfilment of its CSR obligations for the year to mark the occasion.
Further, we would be releasing new reports and an insight into the Proshare 6.0 plans in the days to come.
Comments from Stakeholders
It is hard to believe that it's been 5 years already. You and your team have made great progress, and I know your future is very bright. Best wishes for a spectacular next 5 years. – R. K. Tukuru; Chairman, Proshare Nigeria Limited
Please accept my heartiest congratulations on your 5th anniversary. I am truly impressed with what you have achieved in these 5 years. Building a capital market information platform which is pragmatic in its design and approach is not easy. Your interventions have been really well thought out and easy to comprehend. I look forward to many more innovations from you in the years to come. – Hon. Herman Hembe, Chairman House Committee on Capital Markets
Hearty congratulations on your 5th anniversary. We thank you for all your passionate support and perseverance in our relationship. We are confident that the Proshare web portal will turn into a knowledge management powerhouse in the next decade. – Austin Edoja-Peters, Head Corporate Comms, Access Bank Plc
The Analysts section of the website is a real ‘Genie’! The information provided daily on the capital market by the Mrs. Reshu Bagga led team was followed by a quick, hassle-free data centre that allows for independent analysis. It is very easy to use and empowers our team to provide world class customer service to the end customer ….always. I wish to thank the Proshare team for their dedicated support & wish them great success in their future endeavor. – Boason Omofaye, CEO MBC News Corp
May God's Blessings make your organisation a "Pride of the Nation". – Dr. Reuben Abati, SA to the President on Media & Publicity
Congratulations on reaching this crucial milestone. I am sure you will use learnings of the organization during this period to reach greater heights. – Christian Udechukwu, CEO BusinessinAfrica Events
I am immensely pleased with the progress your organisation & you have made in the last five years. It reflects your dedication & commitment towards achieving the NCM Dream. I am personally following your progress, am very confident that your organisation will scale new heights. – Dr. Martin Oluba, CEO of Value Fronteria
I am happy to learn that Proshare completed five years. I am sure you would rejoice in this moment as a time of great professional satisfaction. This, I am sure, is also a moment for Proshare to move forward with increased vigour to spread the message of knowledge sharing amongst your current and future clients. I am always with you in this journey. – Bisi Iyaniwura, Managing Partner of Broadstreet Partnerships
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