Nigeria: Investors in Nigeria Gain Access to Nairobi, Ghana Stock Exchanges

4 October 2023
Daily Trust (Abuja)
By Abiodun Alade

Investors in Nigeria can now invest in securities listed on the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE).

The move was facilitated by Afrinvest (West Africa) Limited in partnership with the Nigerian Exchange Group (NGX) and Secondary Securities Trading & Aggregation Exchange ("SecondSTAX")

It was gathered that the partnership, which brings together Afrinvest's wealth of experience as a leading capital market operator and SecondSTAX's innovative technology platform, will grant investors access to multiple African financial markets, beginning with Ghana and Kenya.

Access to the service will initially be restricted to Qualified Institutional Investors who are able to place a minimum trade order of N10,000,000 (Ten million Naira only) through Afrinvest Securities Limited (ASL).

Speaking about the partnership, Group Managing Director of Afrinvest, Ike Chioke, said "as a company, we continue to innovate to increase the range of investment opportunities available to our clients. With SecondSTAX's technology, our Nigerian stockbroking clients can now safely access investible securities across other capital markets in Africa."

Chike added that the company is delighted to support the NGX in its strategy of deepening Nigeria's capital markets as the SecondSTAX platform also allows investors in Kenya and Ghana trading access to securities listed on the NGX in their local currencies. He added that it will increase capital inflow into Nigeria's capital markets.

CEO of the Nigeria Exchange Limited, Temi Popoola, said "SecondSTAX's approach to linking capital markets across Africa aligns with our ongoing efforts to deepen our relationship with other capital markets across the continent. We are bullish on the opportunities that abound in the Nigerian capital markets, as well as across the continent, and we are looking forward to a partnership that will support inclusive growth and prosperity for everyone."

CEO and co-founder of SecondSTAX, Eugene Tawiah, said the aim is to integrate Nigeria's capital markets with other capital markets in Africa.

Read the original article on Daily Trust.

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