NSE pledges support for small businesses

The Nigerian Stock Exchange has reiterated its commitment to support the growth and development of small- and medium-sized enterprises in the country.

The NSE said on Wednesday as it hosted a webinar, ‘Capital Raising for SMEs through the Stock Exchange,’ in collaboration with various trade groups and chambers of commerce.

Speaking at the event, NSE’s Divisional Head, Listings Business, Olumide Bolumole, noted, “The traditional role of The Exchange as a platform for capital formation and liquidity holds good promise for businesses. Despite the impact of COVID-19, the NSE functioned to facilitate needed financing with over ₦2.5tn in capital raised by governments and corporates in 2020 across various asset classes.

“Furthermore, the exchange in January 2020 launched the NSE Growth Board designed to support companies in their growth phase, and this notably caters to SMEs. As access to capital is a key challenge faced by companies active in various sectors of the economy, the NSE continues to provide alternative funding opportunities to catalyse business growth.”

On her part, the President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Saratu Aliyu, said, “I commend the National Council and Management of the Nigerian Stock Exchange for organising this webinar and for extending this invitation to me to give the keynote address at this event.

“It reflects a recognition of the role played by the Chamber of Commerce in promoting the growth and competitiveness of a private enterprise in Nigeria.

“Going forward, I am hopeful that initiatives such as this webinar will spur greater interest in the activities of the growth board by the private sector, as it is a conscious effort to give credence to SMEs which are the building blocks of the Nigerian economy.”

The NSE assured that it would deliver on its commitment to narrow the undesirable gap in SMEs’ ability to access right-sized capital and facilitate the flow of sustainable resources to spur SMEs’ growth.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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