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NSE targets more Diaspora investors

By on January 15, 2015

The Nigerian Stock Exchange on Tuesday said it had completed arrangements to attract more Nigerians in the Diaspora to the nation’s capital market.

In line with the objective, the Exchange said it would on Monday hold an investor forum for the Nigerian Diaspora in Zurich, Switzerland.

According to the NSE, the move is in line with its mandate of promoting and influencing the economic growth and development of Nigeria.

It added that the forum is targeted at Nigerians in Switzerland and across Europe.

A statement by the Media Relations Officer, NSE, Mr. Joseph Kadiri, quoted the Chief Executive Officer, NSE, Mr. Oscar Onyema, as saying that the Exchange viewed the Nigerian Diaspora as a rich resource with unlimited potential.

He said, “The Diaspora present wonderful opportunity to help the development of the Nigerian economy by investing through The Nigerian Stock Exchange, as they can help attract sufficient and stable access to international investment.

“The main objective of the forum is to facilitate portfolio investments and inspire Diaspora-led investment for sustainable economic growth, by encouraging Nigerians in the Diaspora to actively participate in investment efforts in the Nigerian capital market.”

Onyema explained that the Exchange planned to use the forum to present the attractive investment opportunities in the Nigerian stock market to Nigerians in the target countries.

“We have the companies that can help to grow wealth, as well as give local businesses and owners the capital they need to continue this growth,” he said.

The Head, Corporate Services Division, NSE, Mr. Bola Adeeko, said the NSE was organising the forum in collaboration with the Embassy of Nigeria, Switzerland, Nigerians in Diaspora Organisation and Capital Bancorp Plc.

According to him, the forum, which will be hosted on the sidelines of the 2015 World Economic Forum in Zurich, Switzerland, will provide a platform for participants to constructively engage in capital market issues and gain an in-depth understanding of capital market investments options, challenges and opportunities.

Other issues to be discussed at the forum are the economic outlook for Nigeria in 2015, investment opportunities in Nigeria’s capital market, investor protection efforts by the NSE, capital market cycles and asset balancing through diversification.

According to the Exchange, the Minister for Industry, Trade and Investment, Mr. Olusegun Aganga, is to deliver the keynote address at the event.

The NSE has held similar programmes in the last few months as it intensified its efforts to increase market participation.

In December, it embarked on a week-long roadshow to Asia as part of efforts attract more foreign investors to the market.

Onyema said the programme was aimed at highlighting “the robustness of our capital market as well as showcase the Exchange and its listed companies and market operators.”

Also in December, the Exchange organised a roadshow in the South-West to attract more companies to its Alternative Securities Market, a specialised board for the listing of emerging companies operating in the country.

The Exchange had developed the board to accommodate small and mid-sized companies, with high growth potential, seeking to access the capital market by raising long-term capital.

The South-West roadshow saw officials of the NSE visit Agbara and Abeokuta in Ogun State on December 11 and 12.

 

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