Kelechukwu Mgboji 
A high-level delegation from the Nigerian Exchange Group Plc led by its Chairman, Umaru Kwairanga, together with top executives from the Securities and Exchange Commission (SEC), under the stewardship of Director General, Emomotimi Agama, have moved to foster institutional cooperation and exchange of governance best practices between the two prominent African capital markets.
In a recent visit to the Johannesburg Stock Exchange (JSE) aimed at positioning African exchanges as key players in the global financial ecosystem, the leadership of Nigeria’s capital market engaged their JSE counterparts on strategic initiatives targeted towards drawing investors diversifying from the Chinese market, a statement by NGX Group disclosed. “Central to the dialogue was the exploration of strategic initiatives aimed at drawing investors diversifying from the Chinese market, positioning African exchanges as key players in the global financial ecosystem,” NGX stated.
Adding that the collaboration aligns the Nigerian capital market with international standards, setting the stage for future growth and competitiveness across the African continent. Leila Fourie, Group CEO of the JSE, warmly received the Nigerian delegation, underscoring the growing importance of African capital markets within the broader context of international investment flows.
She highlighted notable developments within South Africa’s financial landscape, including a reduction in capital outflows and the strengthening of investor sentiment, which has further bolstered the JSE’s standing as a regional financial powerhouse. Fourie emphasised the potential for African exchanges to collaborate in attracting global capital, describing the partnership as a vital lever for continental economic transformation.
In response, Kwairanga expressed optimism about the mutual benefits to be derived from the exchange, stating that JSE’s governance model, particularly its experience as a demutualised exchange, would provide critical insights for NGX Group’s strategic evolution. He noted that such collaborative engagements will influence future decisionmaking, ensuring NGX Group remains at the forefront of innovation and market development.
Agama echoed this sentiment, reaffirming SEC’s support for initiatives that propel Nigeria’s capital markets towards global competitiveness. He emphasised that the lessons gleaned from the JSE’s governance and operational frameworks will play an instrumental role in shaping Nigeria’s regulatory landscape.
Temi Popoola, Group Managing Director/CEO of NGX Group, reflected on the fruitful discussions, noting the potential for synergistic partnerships between the two exchanges, particularly in areas such as private markets, innovation, and technological advancements.
He expressed confidence that these collaborations will contribute to market development and drive NGX Group’s transformation agenda. The JSE also expressed interest in deepening partnerships with NGX Group across key areas, including carbon markets, data sharing, and private market initiatives.
