Regardless of the impression of the pandemic on companies and incomes, the market capitalization of fastened revenue securities appreciated to over N17 trillion as at October 2020.
This was revealed by the Divisional Head, Itemizing Enterprise on the Nigerian Inventory Trade Market, Mr. Olumide Bolumole, in a webinar hosted by the Trade in collaboration with Oduá Chambers of Commerce and Business on Wednesday 11 November, 2020.
The webinar, themed “Capital Elevating in a pandemic,” elucidated the standard position of the Nigerian Inventory Trade (NSE) as an enabler of capital move from areas of surplus to deficit.
This holds good promise for companies, as entry to capital is the prime problem confronted by firms lively in numerous sectors of the financial system.
What they’re saying
Commenting on the latest improvement, Mr. Olumide stated:
“The Nigerian Inventory Trade as a platform for capital formation has services to assist capital elevating throughout financial sectors. As an example, regardless of the impression of COVID 19, the NSE has facilitated wanted financing with about ₦1Trillion in capital raised by governments and corporates between January and October throughout numerous asset lessons.
“With the All Share Index as on the ninth of November appreciating by over 20% for the reason that begin of the yr and the Mounted Earnings market capitalisation presently over ₦17Tn, the market has depth to accommodate required capital.”
Commenting on the position of the NSE Development Board in elevating various funds, particularly for SMEs, the Head of Division, Department Community, NSE, Mr. Adeyemi Osoba, said:
“The Development Board was launched in January 2020 as a part of the NSE’s initiatives to raise the Nigerian Capital market and meet the wants of companies at each section of their lifecycle.
“It supplies a platform for fast-growing firms to entry cost-effective, long-term capital whereas having fun with relaxed entry standards, lowered post-listing obligations and a variety of value- added providers.”
Why it issues
The webinar grew to become crucial owing to the exceptional decline in main sources of income for key sectors of the financial system as a result of pandemic.
It revealed numerous various sources of funding obtainable within the Nigerian Capital Market to optimize enterprise progress, and of which the fastened revenue securities is a part of.
What it’s best to know
Among the keynote audio system within the occasion embrace:
Dele Oye, Esq, the Nationwide Vice President, the Nigerian Affiliation of Chambers of Commerce, Business, Mines, and Agriculture (NACCIMA), Mr Femi Ademola, Government Director, Cordros Capital; Mr Azeez Oluwole, Managing Director, Farmkonnect Nigeria; Chief Kola Akoshile, President, Odu’a Chambers of Commerce & Business and Mr. Owolabi of Capital Asset Ltd; with Dr. Sam Ikoku, Government Chairman, Blackstone Non-public Fairness Restricted serving as moderator.