The Nigerian Securities and Exchange Commission (SEC), the Nigerian Exchange Group (NGX), and the Johannesburg Stock Exchange (JSE) have formed a strategic partnership focused on governance, market development, and sustainability initiatives.
In a statement shared with NewsNGR, it was announced that a delegation from NGX Group Plc, led by Group Chairman Dr Umaru Kwairanga, alongside senior officials from the Securities and Exchange Commission (SEC), headed by Director General Dr Emomotimi Agama, visited the JSE for a high-level engagement.
The purpose of the visit was to gain insights into the JSE’s best practices in governance and to strengthen institutional collaboration.
This initiative underscores a shared commitment to advancing market development, fostering global partnerships, and aligning with international standards—an effort aimed at promoting growth in the capital markets of both Nigeria and Africa as a whole.
CEO of the JSE Dr. Leila Fourie highlighted the increasing significance of African capital markets within the global investment landscape.
She pointed to recent positive trends in South Africa’s capital market, such as reduced capital outflows and improved investor sentiment, which are enhancing the country’s role as a key financial hub on the continent.
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, reflected on the discussions: “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 the 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 noted 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.