SecondSTAX Partners NGX To Drive Investment Into Nigeria

SecondSTAX, a technology company that is building solutions to enhance intra-Africa capital and investment flows, has partnered with the Nigerian Exchange Limited (NGX) to enable institutional investors from across Africa to directly invest into Nigeria’s capital markets.

The new partnership was established in close collaboration with Afrinvest (West Africa) Limited and this 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.

Speaking in Lagos, the CEO and co-founder of SecondSTAX, Eugene Tawiah stated that “our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with the NGX 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 into 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.”

CEO, Nigerian Exchange, Temi Popoola said that “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.”

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Group managing director of Afrinvest, Ike Chioke said, “as a 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.”