Thursday October 24th,2013/@Webtvng.com
After a crisis the process of healing and recovery may take long, depending on the determination and resolve of the party affected. For the Nigerian stock exchange it has been a display of dexterity and resilience after the 2008 capital market crisis which affected the fortunes of retail to big time investors.
Just like the United States of America had to pull through the rubbles and ruins of the September 11,2001 to recover as a stronger nation, the leading bourse in Sub-Saharan Africa has repositioned itself through as a strategic gateway for trade in Africa.
It is based on this sterling outlook of the stock exchange that the October edition of the Nigeria-South African Chamber of Commerce breakfast meeting, had as keynote speaker the dynamic market leader and CEO Nigeria stock exchange Mr Oscar Onyema.
Speaking on the topic ‘The Road to excellence: Transforming The Nigerian Capital Market With Reforms, Innovation’, afforded the exchange boss the opportunity to elucidate clearly the various initiatives, programmes, partnerships, agreements and developments that have facilitated the pathway for the next African business champions.
He asserted that with the reforms of the market, manifest in the stringent listing measures for companies and the adoption of the corporate governance principle for companies and groups, the NSE had set the pace of viable policy plans and procedures that will meet the changes and trends in the 21st century.
Another factor that has revolutionized the global market operations is technology , and the exchange according to Mr Onyema had deployed new product offerings, powered by innovation to boost the trading process namely; X-Gen engine platform, Market Data which is to improve market sentiments, perception and engagement and the OTC market which is to enable seamless trading.
On the prospects for future listing of major corporations in the Oil and Gas, Telco, Power, Tourism amongst others he hinted that the bourse had engaged the Bureau of Public Enterprises (BPE) in key discussions on ways of wooing big companies to the market.
Harping on the need for more major corporations to come to the exchange, the former ASE official was satisfied with the institutional framework of the NSE, which he said is at par with the international provisions, but believed there is need for more strategic engagement of investors, as the Central Securities Clearing System (CSCS) investment account shows only 5million users, creating the need for more investment awareness.
The event sponsored by Meristem Securities had in attendance the Consul General South Africa to Nigeria Amb Mokgethi Monaisa, the Chairman Nigeria-South African Chamber of Commerce Mr Foluso Phillips and the CEO Mersitem Securities Mr.Wole Abegunde.