AGS NEWS – The Nigerian Exchange Group (NGX) revealed its strategic agenda at its 63rd Annual General Meeting held in Lagos.

Among the key initiatives discussed was the development of an online platform for public offers and an expansion drive across Africa.

Earlier in April, NGX Group made headlines with its acquisition of stakes in Ethiopia’s first securities exchange, marking its entry into East Africa.

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This move is seen as a significant step towards driving growth and innovation in African capital markets, positioning NGX Group as a leading foreign institutional investor in the Ethiopian Securities Exchange (ESX).

During the AGM, NGX Group emphasized its digital transformation journey, which includes the creation of an online platform for public offers and substantial investments in its technology infrastructure.

This platform aims to streamline the process of capital raising for issuers, including initial public offerings (IPOs), rights issues, and other public offers.

NGX Group’s Chairman, Dr. Umaru Kwairanga, expressed gratitude to shareholders for their support, highlighting the board’s commitment to delivering value amid positive government reforms.

The Group Managing Director/CEO, Mr. Temi Popoola, underscored the importance of technology in NGX’s future, emphasizing the company’s focus on digital transformation to democratize access to capital markets and expand its reach across Africa.

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Following shareholder approval of a N10 billion rights issue, NGX Group passed a resolution to increase its share capital to accommodate the rights issue, signaling confidence in the company’s growth trajectory.