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Proshare and the Future of Financial Information


December 01, 2011 


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The future of financial information in Nigeria is a promising one despite the challenges posed by the inability to develop a business revenue model that is both discernible yet, specialised. We see the following as key areas we can play a role in:


1. Removing or reducing Noise in financial reporting – having seen the impact of a sustained cycle of negativity, we have designed the service to eliminate ‘noise’ in its engagement and the WEB TV will play a much influential role in that area.

2. Improve on the access and time-to-market of information from the Nigerian Stock Exchange through a formal relationship that ensures that financial journalism does not second guess the exchange whilst retaining its role of validating such information without recourse to sensationalism.


3. Be at the forefront of deploying technology as a tool for growth in re-building the retail end of the market and of providing excellent customer services to consumers and stakeholders.


4. Addressing concerns over the lack of transparency and accessibility of information as a contributor to today’s market stress makes it all the more relevant the interventions we have undertaken to broaden the coverage of capital market related news and information.


5. Shedding more light on the disclosure documents filed with the NSE and the Securities & Exchange Commission, and ensuring that more information and clarification is made available on the documents so submitted so that investors are convinced that necessary diligence has taken place.


6. Deployment of a Tyro-trader for the market as the first move towards developing an online market for the Nigerian bourse


7. Supporting the efforts of the CBN towards its cash-lite programme as a means of encouraging online engagement and initiating a beginning of a paid for service – as the model re-invets itself from a mass market service offering to a tiered service offering to reflect market sophistication.


8. Ramp up its advocacy role to deliver a market-regulator-legislative matrix that would engender a self-enlightened interest in the key players in the tripod.


9. Pursue actively the advocacy agenda of the firm to engender a capital formation bill that would deliver the linkages required between the economy and the capital market. This process has begun with the submission of a bill to the house and will be followed up with a comprehensive report providing an analytical, technical, business and economic justification for the listing legislation and policy advocated since 2009.


10. Developing capacity, competence and capability to deliver an online brokerage service to leverage the goodwill and capital invested in the service offering either directly or through a partnership.


11. Sustaining the legacy of providing independent analysis and data to promote efficiency, effectiveness and decision making in our markets.


12. Providing clients, partners, collaborators, affiliates, sponsors and advertisers a credible platform for engaging a Nigerian market that is primed to be a catalyst and barometer for how far Africa has come, and how far it is willing to go.


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