SecondSTAX, a technology company that is building solutions to enhance intra-Africa capital and investment flows, has announced a new partnership with the Nigerian Exchange Limited (NGX) that will enable institutional investors from across Africa to directly invest in Nigeria’s capital markets.
The new partnership was established in close collaboration with Afrinvest (West Africa) Limited, a leading capital market holding company in Nigeria active in six principal areas: investment banking, securities trading, asset management, trustee, consulting and financial technology.
According to Eugene Tawiah, CEO and co-founder of SecondSTAX, “Our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with the Nigerian Exchange Limited represents a major milestone on our journey. Nigeria’s capital markets are full of lucrative opportunities that have until now been out of reach to institutional investors outside the country. At the same time, Nigeria’s institutional investors have largely found it challenging to invest in other capital markets across the continent. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”
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Temi Popoola, CEO of Nigerian Exchange Limited, commends SecondSTAX for its visionary solution to drive institutional investments across Africa. “This closely aligns with our ongoing efforts to foster innovation and growth in our market through initiatives such as the African Exchanges Linkage Project, which aims to integrate capital markets in the continent; and our partnership with Afreximbank’s Pan African Payments Settlement System (PAPPS) to facilitate seamless cross-border transactions within the African capital markets.
At NGX, we remain committed to fostering inclusive growth and are open to collaborating with more capital market innovators to stimulate participation and investment in the Nigerian and African capital markets. We look forward to the opportunities this partnership with SecondSTAX will unlock and the positive impact it will have on the continent.”
Ike Chioke, group managing director of Afrinvest, said “As a leading capital marketing holding company, we are always at the forefront of driving innovations that grow Nigeria’s capital market. We are delighted to be in partnership with SecondSTAX to enable more opportunities to drive capital inflows into Nigeria’s capital markets and increase investment options for investors in Nigeria.”
The joint effort will make it easier for licensed broker-dealers, asset managers, large commercial banks and other institutional investors from across the continent to invest in Nigeria’s premier exchange via SecondSTAX’s transparent, easy-to-use, cloud-based portal. Investors will also be able to invest in their native currencies, making a wider range of assets and opportunities available to more Africans and creating an efficient route to increased wealth on the continent.
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