African stock exchanges, including the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), are positioning to capitalise on the evolving global investment landscape by drawing in investors looking for alternative markets outside of China.

This formed part of the key discussions during a recent strategic visit by NGX Group and the Securities and Exchange Commission (SEC) to the JSE. The Nigerian delegation, led by NGX chairman, Umaru Kwairanga and SEC Director-General Dr. Emomotimi Agama, sought to deepen cooperation with the JSE and adopt governance best practices to strengthen Africa’s capital markets.

JSE’s Group CEO, Dr. Leila Fourie, highlighted the opportunity for African Exchanges to unite and draw global investments, as investor sentiment improves in African markets. “There is a clear opportunity for African exchanges to unite in drawing global investment interest towards the continent,” she said.

She highlighted recent positive trends in South Africa’s capital market, including reduced outflows and improved investor sentiment, positioning it as a key player in the continent’s financial ecosystem.

On his part, Kwairanga expressed optimism about the collaboration, noting that “understanding JSE’s governance, as a demutualized Exchange like NGX, would aid strategic decisions.”

SEC’s DG, Agama also emphasised the importance of the visit, stating, “SEC fully supports initiatives like this, which have the potential to steer the Nigerian capital market towards greater heights.

In addition to attracting investors, both Exchanges discussed partnerships in carbon markets, private markets, and dual listings, with an emphasis on governance, risk management, and innovation in product development.

NGX Group CEO, Temi Popoola, remarked, “We are particularly optimistic about the potential of private markets, innovation, and technology in product development to drive transformation.” The engagement also involved insights on mergers and acquisitions, with both exchanges aiming to create synergies across African markets to enhance global competitiveness. Other key attendees included NGX Non-Executive Director, Nonso Okpala and SEC’s Executive Commissioner of Operations, Bola Ajomale.

SOURCE: THE SUN