NGX Group and Nairobi Exchange Strengthen African Ties

The Nigerian Exchange Group (NGX Group) and the Nairobi Securities Exchange (NSE) are advancing cross-border collaboration to enhance investment opportunities across Africa. This initiative was discussed during a meeting in Nairobi, where stakeholders explored ways to strengthen market connections.

The engagement occurred at the Dangote Petroleum Refinery IPO High-Level Investor Engagement, attended by Aliko Dangote, President and Chief Executive of Dangote Industries Limited. He emphasized that stronger collaboration among African exchanges could enable companies to access capital across multiple markets.

Temi Popoola, GMD/CEO of NGX Group, stated that the engagement aims to create stronger connections between African capital markets. The initiative builds on a previous meeting in Lagos in April, focusing on cross-border market connectivity.

The collaboration aligns with the African Exchanges Linkage Project (AELP) to facilitate cross-border trading. The significance of this engagement is underscored by the planned groundbreaking of Dangote’s refinery in Lamu, aimed at serving the East African market.