• Tuesday, March 05, 2024
businessday logo

BusinessDay

MTN, CardinalStone, VFD Group recognised at NGX Made of Africa Awards

Bank stocks push market further high

MTN Nigeria Communications Plc, VFD Group Plc, CardinalStone Securities and Chapel Hill Denham were big winners at the just concluded Made of Africa Awards organized by Nigerian Exchange Limited (NGX).

NGX MOA Awards is designed to recognise organisations and individuals within the Nigerian capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact, and act as key drivers in strengthening the Nigerian and African capital markets.

Temi Popoola, Chief Executive Officer of Nigerian Exchange Limited noted at the event that the annual Made of Africa Awards is aimed at encouraging more listings, transactions, better compliance and stimulating innovation in the capital market.

Speaking at the awards, Popoola said, “These awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market. Through NGX Made of Africa, we remain committed to encouraging and incentivizing our partners, and promoting inclusivity as we contribute to the development of the capital market.”

The Exchange boss added that NGX takes pride in leading the way in innovation, excellence, and corporate governance best practices, hence the importance it attaches to “Rewarding innovation, excellence, and adherence to existing rules and regulations as fundamental to stakeholder collaboration in our market.

Popoola went on to congratulate the winners of the 2023 edition of the awards. MTN won the Most Compliant Listed Company award while VFD Group was recognised as Listing of the Year.

CardinalStone Securities won Equity Trader of the Year while Lagos State Government and the Debt Management Office were recognised for the State Government with the Largest Sub-National Debt Instrument Issuance and Capital Market Excellence Award respectively.

Chapel Hill Denham was recognized in two categories, Cross-Border Trade Facilitator of the Year and Fund Manager with the Largest Listed Fund Size, while Cordros Capital and Kairos Capital both won the award for the Issuing House with the Highest Number of Primary Market Transactions (Equity Category).

Other winners were Pilot Securities Limited as Most Compliant Trading License Holder; Vetiva Capital Management as the ETPs Trader of the Year, Regency Asset Management Limited as Fixed Income Trader of the Year; FCMB Capital Markets Limited as the Issuing House with the Highest Number of Debt Issuances (Corporate Bonds) and Banwo & Ighodalo as the Best Solicitor in terms of Value of Deals. The Capital Market Correspondents Association was also recognized for its substantial contributions to fostering capital market activities and influencing public perception of the market.