21 September 2017

Nigeria: NSE Partners Ciuci Consulting to Encourage SMEs Listing

The Nigerian Stock Exchange (NSE), and Ciuci Consulting, a strategy and consumer intelligence will next Tuesday launch the Nigeria Business Composite 10 (NiBC 10) Lagos Nigeria.

The NIBC 10 is a selection of 10 successful Nigerian enterprises, who have exhibited high potentials for growth and have over the years maintained a brilliant track record.

This benchmark event is aimed at recognising and celebrating these companies whilst inspiring confidence in the Nigerian society and its potential to produce thriving businesses.

Speaking on the initiative, the acting Head, Corporate Services, NSE, Pai Gamde said: "We are delighted to partner with Ciuci Consulting on the NiBC 10 initiative. It aligns with our commitment to promoting and supporting small and medium enterprises (SMEs) in Nigeria, by providing a framework that can help mentor SMEs in the country. At the NSE, we have a strong support system for such companies as our ASEM board provides them a platform for growth and expansion. A platform we hope these companies will leverage in the coming months."

Speaking in the same vein, the Managing Partner, Ciuci Consulting , Chukwuka Monye said: Nigerian entrepreneurs need to see examples of business men and women that are working hard and creating successful businesses in the same environment that many fear to explore. We have worked with each of the 10 companies who are at different growth stages and are pleased to recognise them and encourage them for what they do."

The launch of the NiBC 10 will bring together top Nigerian CEOs and captains of industry. Companies included in the NiBC 10 are House of Tara, Bestman Games, Iya Foods, L'Avyanna, Everyday Supermarkets, DBH Solutions, Ugo Monye Official, Healthcare Leadership Academy, Private Sector Health Alliance of Nigeria and Massey Street Children's Hospital."

Meanwhile, the equities market bounced back to positive territory after two days of losses with the NSE All-Share Index appreciating 1.04 per cent to close at 35,207.89.

The appreciation recorded in the share prices of Access Bank, Lafarge Africa, Dangote Cement, Nigerian Breweries, and GTBank propelled the growth recorded in the index.

However, the total value of stocks traded was N1.13 billion down by 59.92 per cent from N2.83 billion on Tuesday.

The three most actively traded sectors were: Financial Services (74.95 million shares), Industrial Goods (21.34 million), and Conglomerates (12.30 million), while the three most actively traded stocks were: Meyer (20.00 million shares), Access Bank (14.92 million shares) and Transcorp (12.08 million shares).


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