Dangote Industries Ltd. and the Botswana Stock Exchange (BSE) have endorsed efforts by Nigerian Exchange Group (NGX Group) to expand cross-border investment opportunities across African capital markets.
They gave the commendation on Wednesday at an investor engagement in Gaborone, Botswana, during the ongoing roadshow for the Dangote Petroleum Refinery and Petrochemicals FZE offer.
The commendation is contained in a statement issued by NGX on Wednesday.
Murat Erden, Group Chief Financial Officer of Dangote Industries, praised NGX Group for bringing African capital-market institutions together to widen investment opportunities across the continent.
Erden acknowledged the leadership of NGX Group Chairman, Alhaji Umaru Kwairanga, and Group Managing Director, Temi Popoola, in advancing the initiative.
He said the collaboration, which began with an engagement in Lagos in April, demonstrated the potential of partnerships among African exchanges.
Erden also highlighted digital innovation, particularly the integration of WhatsApp into NGX Invest, as a means of broadening access to the refinery offer.
Aobakwe Aupa Monyatsi, Chief Executive Officer of BSE, similarly welcomed the partnership, saying cooperation among African exchanges could broaden investor participation.
Monyatsi said the initiative could also encourage more African markets to participate in collaborative efforts to strengthen investment flows across the continent.
At an earlier engagement in Nairobi, Kenya, Aliko Dangote, President and Chief Executive of Dangote Industries, also commended NGX Group for strengthening cooperation among African capital-market institutions.
Dangote said stronger ties among exchanges could enable businesses to raise capital across multiple markets instead of relying exclusively on domestic investors.
He cited the planned refinery in Mokowe-Lamu, Kenya, as an example of how businesses operating across Africa could explore listings in multiple markets.
Earlier, Kwairanga said the initiative reflected NGX Group’s ambition to strengthen connections among African capital markets and improve access to investment opportunities.
“Our vision is to build stronger connections among African capital markets, making it easier for businesses to access capital and for investors to participate in opportunities across the continent.
“The collaboration around the Dangote Refinery offer demonstrates what African exchanges can achieve when we work together toward a shared objective,” Kwairanga said.
Popoola said the initiative was designed to translate the ambition of continental integration into practical partnerships among African exchanges.
He said cooperation among exchanges could help businesses access a wider pool of investors while creating more opportunities for investors across participating markets.
NGX Invest, the group’s electronic public-offering platform, supports subscriptions through more than 180 distribution channels, including stockbrokers, banks and fintech companies.
The addition of WhatsApp as an access channel is expected to provide investors with another means of subscribing to the offer.
The roadshow will continue with engagements at the Egyptian Exchange and the Ethiopian Securities Exchange to deepen cooperation and expand cross-border investment opportunities across Africa. (NAN)
