Nigeria's FMDQ floats green exchange platform

FMDQ Group, through the FMDQ Securities Exchange, has made history by launching Africa's first green exchange platform, dedicated to promoting green and sustainable securities. Tumi Shekoni, the Managing Director at FMDQ Securities Exchange, in an interview with CNBC Africa, discussed the significance of this platform and its potential impact on the Nigerian financial market. Shekoni emphasized the importance of sustainability and the crucial role that FMDQ plays in promoting market development initiatives. The launch of the FMDQ Green Exchange aligns with the company's strategic pillars focusing on business, markets, people, community, and the environment. As the premier green exchange in Africa, FMDQ aims to lead the way in sustainable finance and attract increased capital flows into green investments in Nigeria. The potential for listings on the green exchange platform is substantial, with previous issuances of green bonds by the federal government and corporate institutions in Nigeria. Shekoni highlighted the pipeline of green securities, including upcoming issuances by the federal government, state governments, and corporate entities. The platform is expected to shine a spotlight on green investments in Nigeria and drive capital flows towards sustainable finance areas. By providing a dedicated platform for green and sustainable securities, FMDQ aims to support issuers and investors in aligning with global sustainability goals. The evolving ecosystem in Nigeria towards green investments reflects a growing interest from various stakeholders, including the government and corporates. The capital requirements for green and sustainable projects in Nigeria are significant, with trillions needed to fund initiatives addressing climate change and environmental sustainability challenges. FMDQ's green exchange platform is poised to create an enabling environment for education, stakeholder engagement, and transparent issuance of green securities. By partnering with key players in the financial market, FMDQ seeks to ensure the success of sustainable finance initiatives in Nigeria and promote global visibility for green investments. As Nigeria progresses on its sustainability journey, platforms like the FMDQ Green Exchange play a pivotal role in driving awareness, capital mobilization, and market development in the green finance space. With a focus on promoting sustainable investments and supporting the transition towards a greener economy, FMDQ Group sets a precedent for other financial market infrastructure groups in Africa to prioritize sustainability and contribute to the global sustainable finance drive.