Popoola: Partnerships, integration key to market growth

The Group CEO of Nigerian Exchange, Temi Popoola, emphasized the significance of partnerships and integration in driving market growth during a recent interview with CNBC Africa. Popoola highlighted the collaborative efforts with the London Stock Exchange and the Johannesburg Stock Exchange as examples of successful dual listing arrangements. These partnerships serve as a foundation for acquiring best practices, fostering innovation, and capitalizing on market dynamics. The focus on partnerships extends beyond mere financial investments, encompassing technology, regulation, and market insights. This commitment to collaboration aims to elevate not only individual exchanges but also the broader African market landscape. One key initiative that exemplifies this strategy is the partnership with the Ethiopian Securities Exchange (ESX). Popoola underscored the strategic investment in ESX, emphasizing the potential for east to west integration in the continent's capital markets. The engagement with ESX also serves as a platform for addressing cross-border challenges faced by Nigerian and Ethiopian corporates, facilitating market access and capital raising opportunities. Moreover, Popoola discussed the role of technology in reshaping the market landscape, citing ESX's comprehensive exchange solution encompassing equities, fixed income, and money markets. This innovative approach by ESX underscores the transformative power of technology in driving market evolution and leapfrogging traditional market development timelines. Looking ahead, Popoola expressed optimism about the African Exchange Linkage Project, emphasizing the need for market players to adapt to technological disruptions and embrace a more integrated and innovative approach to market development.