SEC, NGXGroup, JSE Collaborate On Governance, Market Devt, Sustainability

Securities and Exchange Commission (SEC), Nigerian Exchange Group Plc and Johannesburg Stock Exchange (JSE) had collaborated on governance, market development and sustainability.

A delegation from NGX Group, led by the Group chairman, Alhaji Umaru Kwairanga, alongside top officials from SEC, headed by the director-general, Dr. Emomotimi Agama, recently visited the Johannesburg Stock Exchange (JSE) for a strategic engagement.

The visit, which aimed to expose the Nigerian delegation to JSE’s governance best practices and deepen institutional cooperation, reflects NGX Group’s commitment to continuous development, global partnerships, and alignment with international standards, fostering growth in Nigerian and African capital markets.
Group CEO of JSE, Dr. Leila Fourie emphasised the growing importance of African capital markets in the global investment landscape.

She highlighted recent positive trends in South Africa’s capital market, including reduced outflows and improved investor sentiment, positioning it as a key player in the continent’s financial ecosystem.

In response, Kwairanga expressed optimism about the mutual benefits of the visit, noting, “understanding JSE’s governance structure, as a demutualized exchange like NGX Group, will significantly influence our decision-making moving forward.”.

Agama underscored the strategic importance of the visit, stating, “SEC fully supports initiatives like this, which have the potential to steer the Nigerian capital market towards greater heights. The learnings from this engagement with JSE, another demutualized exchange, will be instrumental to our market’s development.”

GMD/CEO of NGX Group, Temi Popoola said “this has been a productive engagement, and we look forward to a synergistic partnership with JSE across several areas that would contribute to market development and inform our strategic orientation as an Exchange Group.

“We are particularly optimistic about the potential of private markets, innovation, and technology in product development to drive transformation of our business and markets.”

A significant portion of the discussions focused on the opportunity for African exchanges to collaborate in attracting investors pivoting from the Chinese market.

Stressing the need for synergy to bolster market appeal across Africa, Fourie explained that “there is a clear opportunity for African exchanges to unite in drawing global investment interest towards the continent.”

The JSE expressed interest in partnering with NGX Group on carbon markets, data sharing, and private markets, crucial areas for revenue diversification. Discussions also explored the potential for dual listings and strengthening ties with other African exchanges.

In addition, the two exchange groups shared insights on governance, risk management, and self-regulation, with a focus on private markets and mergers & acquisitions, reinforcing the collaborative spirit of the meeting.