Friday, December 22, 2017 3.30PM / Proshare WebTV
The prospects for a strategic collaboration that will deepen the penetration of technology firms in the Nigerian capital market, received a boost with the recent engagement between the Nigeria stock exchange and Fintech Nigeria Association.
It was an opportunity to explore the opportunities and value of a partnership that will focus on deepening the capital market, boost liquidity and in overall accelerate economic growth.
Chairman of the Fintech Association of Nigeria Dr Olusegun Aina, OFR, CIBN in his remarks said the FTAN since inception has been focused on adopting emerging technology and supporting innovation in Nigeria.
Dr Aina asserted that the FTAN has a strong membership base covering banks, research firms, incubators, academic institutions, Fintech SMEs, Incubators amongst others.
He shared that the Association was also driving the Fintech ecosystem in Nigeria, collaborating with critical platforms like the NSE.
The Acting Divisional Head, Capital Markets Mr Tony Ibeziakor welcomed the engagement with the FTAN, believing it was a mutual relationship, where Fintech companies can take their business objective to the next level utilizing the exchange.
Ibeziakor was of the view that the partnership will showcase the opportunities in the Fintech ecosystem, considering the digitization process that is driving the current fourth industrial revolution.
Mr Ibeziakor encouraged the FTAN to leverage the Nigeria stock exchange which will assist in driving Corporate Governance for the Fintech companies, visibility and boost the entire ecosystem.
As part of the engagement the Team Lead, Domestic Manager, NSE Mr Temitope Buraimoh made a presentation to show the benefits Nigeria Fintech companies will derive from listing in the market.
The benefits according to Mr Buraimoh include; Business continuity, Access to deeper investor pools (global and domestic), Recognition in global markets, Promoting transparency and credibility, Greater brand profile and a good Exit route for strategic investors.
The Nigeria stock exchange is planning in 2018, to reposition the Alternative Securities Market “ASEM” as a “Growth Board”, that will provide listing opportunities and capital formation for Startups, SMES and Venture Capital/Seed Companies for which the FTAN members can access.
It was a highly interactive engagement which featured robust discussions on how the NSE/FTAN can partner to boost the planned “Growth Board”, to be rolled out by the exchange in 2018.
In attendance at the NSE/FTAN engagement
were Mr Ade Ewuosho, Head Market Services, Nigeria Stock Exchange and Governing
Council members of the FTAN Mr Tunji Eleso, (Co-CREATION Hub), Dr Olayinka
David-West(Lagos Business School), Mr Olufemi Awoyemi (Proshare) alongside
other members of the association
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