Market Review: Why A Tech Index Will Deepen Activities in the NGX
This edition of the "Market Review" features Mr. Charles Fakrogha, Chief Operating Officer, Supra Commercial Trust Limited as he speaks on "2021 Dividend Payments and Opportunities for More Earnings for Nigerians".
According to him from the 2021 Nigeria Exchange Limited report on dividend payments, majority of companies listed on the report are contributing to National Development in ways such as payment of taxes, corporate social responsibility, taking adequate care of the staff and the environment.
He believed that one of the innovative steps that can spur activities in the Nigeria exchange limited and the capital market is the development of a technology index that can track the performance of the ICT companies listed in the bourse.
Fakrogha stressed the need for a diversified capital market that reflects the realities of the economy, with listings that cover all of the key sectors contributing to the growth of the economy. He said A lot of sectors are still evolving in terms of technology and a key indicator or index that monitors performance levels that fit in with the trends is critical for the market.
For example, we don't have a setup for FinTech or an index for technology, we also have few Telecom companies and thus cannot create an accurate index for them as an industry".