NGX Group's Popoola Advocates for Capital Integration in Africa

Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, called for a more integrated approach to capital formation across Africa during the Financial Times Africa Summit 2026 in London on October 21. He spoke at a panel session titled ‘Building African Champions – The Investment Case for Scaling SMEs.’ Popoola noted that capital markets have traditionally focused on large, mature companies, while promising businesses often require multiple financing rounds before accessing public markets.

He emphasized the need for capital market institutions to support promising enterprises earlier in their development. Popoola identified family-owned enterprises as “hidden champions” that could significantly contribute to African capital markets if given the right support.

He also mentioned receivables and invoice financing as methods to help smaller businesses unlock working capital. In Nigeria, the Nigerian Exchange Limited Growth Board offers small-cap companies a pathway to raise long-term capital through public markets, supported by flexible listing requirements and collaborations with the Bank of Industry to enhance SME investment readiness.