Stockbrokers set to discuss issues affecting their profession, market
Stockbrokers are warming up for ‘village meeting’ to discuss fundamental issues affecting their profession and how to take advantage of emerging opportunities in the financial market.
The meeting scheduled for 3 pm on Thursday, November 21 in Lagos is an initiative built into this year’s Stockbrokers’ Conference which will commence in the morning of that day at the venue.
Market watchers were quick to describe the proposed meeting as a value added to this year’s Conference. They observed that it would create a platform where some issues that would dominate discussion at the Conference shall be reviewed and where necessary, collective decision might be taken . They also explained that the Village Meeting would enhance co-ordinated approach at the Conference as all stockbrokers suffer from macroeconomic shocks that affect all sectors of the economy.
The Institute’s First Vice President, Tunde Amolegbe who confirmed the Village Meeting explained that it had become necessary for stockbrokers to come together as a family to review the current trends in the economy, especially, the impacts on the businesses of securities dealers and the way forward.
Meanwhile, barring unforeseen circumstances, the Executive Governor of Edo State, Godwin Obaseki and his Lagos State counterpart, Babajide Olusola Sanwo-Olu and other top-class dignitaries are among the participants expected at this year’s Stockbrokers’ Conference in Lagos. Their presence is expected to deepen discussion and bring the market closer to the government at various tiers. Obaseki is a frontline chartered Stockbroker and a fellow of the Chartered Institute of Stockbrokers (CIS).
Responding to media enquirers at the weekend, the Managing Director, Morgan Capital, Muyiwa Adeyemi
explained that the Institute’s annual Conference was a platform designed to enable the capital market operators
make inputs into the Federal Government’s economic policy in order to move the capital market forward
The Chairman, Conference Planning Committee , Abiola Adekoya has earlier addressed a Press Conference when she explained that the Confidence Theme: “ Boosting Capital Market Competitiveness in a Challenging Macro Environment “ was chosen to articulate policy measures that can reposition the capital market to play its pivotal role as a platform for mobilization of funds from surplus economic units to
Adekoya stated that issues such as innovation and growth, fintech, attracting talents to securities industry and nexus between agriculture and the capital market shall form the fulcrum of plenary sessions at the Conference.
“ With the integrated and digital-driven global economy of today, the barriers to competition are gradually coming down, making it necessary for stockbroking firms with exposure to the domestic market to innovate to retain and attract customers. Given the challenging domestic macroeconomic environment and liberal immigration policies in advanced economies with aging populations, retaining talent in the securities industry has been difficult, with negative implications for performance.”, Adekoya said.
Corroborating her, the First Vice President, CIS, Tunde Amolegbe explained that the significance of discussing Fintech at the Conference should be appreciated against the background of the Institute’s efforts at ensuring the success of the government’s policy on financial inclusion. Amolegbe stressed that the Conference would bring about robust ideas on how to reposition the market in view of the unfolding developments in the global economy.
Amolegbe also clarified the implication of Fintech on transaction cost by saying that it would rather make the cost cheaper and encourage more participation in the market across the board.
The Managing Director, Stambic IBTC Nominees, Akeem Oyewale said that this year’s Conference would spring up conversation around the strategies to make the securities industry attractive to the millennials .
In her contributions, the Managing Director, FBN Quest Securities, Fiona Ahimie described the Conference as an opportunity to deepen participants’ understanding of investment opportunities in the capital market and how to take advantage.
Corroborating Ahimie, the Managing Director, Afrinvest Securities, Ayodeji Ebo noted that Conference would address a wide range of economic and political issues, especially, how stockbrokers can take advantage of the capital market to boost their earnings while the Managing Director, Morgan Capital, Muyiwa Adeyemi Explained that the broad objective of this year’s Conference was to create a platform where contemporary development issues would be articulated for enhanced competitiveness of the capital