The Imminent Re-Capitalization, Master Plan and The Emerging Structure – Nov ‘14 SSS Report

Proshare

Monday, December 01, 2014 3.45PM / sss@proshareng.com

The deadline for capital market operator’s re-capitalization as directed by the Securities & Exchange Commission (SEC) continues to draw near on the verge of the launch of the 10-year capital market master plan.

It is envisaged that over 300 brokerage firms currently existing in the market will by early 2015 shrink to a manageable sizeable number among other operators in the market. Feelings from the atmosphere suggest a few operators will be able to meet the new capital base while a few are expected to merge in order to continue in business.

As the re-capitalization exercise builds up, the apex regulator also continues in pari-passu to prepare for the unveiling and implementation of a 10-year capital market master plan. The master plan starting from 2015 to 2025 has a key objective which is to contribute at least 25% of overall market capitalization in the next ten (10) years.


The master plan is designed to help market regulators and stakeholders develop Non-Interest Capital Market products with Sukuk expected to contribute 15% of the 25% projected Non-Interest Capital Market contribution. This becomes necessary as the post-2008 global economic crises has made fund and capital raising through conventional means very challenging due to inabilities of most economies to meet their financing needs.

Meanwhile, as regulators exert efforts to develop the market, operators are also relentless in contributing their quota to the development of the market, as Investment One Stockbroker emerged as the latest firm to launch its online trading portal, EasyTrade, while Cashcraft Asset management Ltd also announced its connection to NSE Straight Through Processing as an opportunity to empower its online clients to trade online.

 

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our various data section and among other regular updates required in the report.  This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively.

 

In all, the November 2014 SSS Quality Report is a snapshot and aide memoire of these developments as we keep tracking milestones that the investing public should be aware of.

 

Do feel free to share your opinions/observations and feedback with us vide sss@proshareng.com

 

Thank you.

 

For: TheAnalyst Editorial Board

Reshu BAGGA

CEO, The Analyst

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