Goddy Egene
The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema will on Monday lead other members of the executive committee of the exchange to review the performance of the market last year and unveil plans for this year.
According to the exchange the presentation to be given by Onyema would cover global capital market review including Africa and the world.
“A review of the performance of the exchange. This will cover product performance (equities, fixed income and exchange traded products); The NSE’s strategic performance across business development (listings, index launch, strategic projects etc.); market initiatives (business partnerships, innovation, advocacy and more); and corporate citizenship development (ESG related efforts),” the exchange said.
The exchange added that Onyema would also give the prognosis for 2020 covering local and international market postulations, the NSE’s strategic initiatives, and more.
According to the NSE, the Nigerian capital market mirrors the performance of the larger economy, which continued its moderate path of recovery.
“Despite challenges faced, the NSE continued to execute on the its 2018 – 2021 corporate strategy, geared towards (a) enhancing the customer experience across the value chain, (b) reorganization for success, and (c) capitalising on mission critical strategic initiatives (demutualisation).
“In 2019, we continued to enhance our product portfolio, orchestrated ground-breaking investment forums and listed some of Africa’s largest companies. This resilience saw the market capitalisation increase by 20.42 per cent to N12.92 trillion from N10.72trillion in 2018. Turnover also increased by 389.26 per cent when compared to 2018. Capital raising was dominated by the federal government, being responsible for 60 per cent of bond issuances during the period in a bid to finance fiscal and infrastructure deficits,” the exchange said.
