Dangote Industries Limited and the Botswana Stock Exchange (BSE) have endorsed efforts by Nigerian Exchange Group (NGX Group) to expand cross-border investment opportunities across African capital markets.
They gave the commendation on Wednesday at an investor engagement in Gaborone, Botswana, during the ongoing roadshow for the Dangote Petroleum Refinery and Petrochemicals FZE offer.
A statement issued by NGX on Wednesday quoted the Group Chief Financial Officer of Dangote Industries, Murat Erden, as commending NGX Group for bringing African capital-market institutions together to widen investment opportunities across the continent.
Erden acknowledged the leadership of NGX Group Chairman, Umaru Kwairanga, and Group Managing Director, Temi Popoola, in advancing the initiative.
Erden said the collaboration, which began with an engagement in Lagos in April, demonstrated the potential of partnerships among African exchanges.
Erden also highlighted digital innovation, particularly the integration of WhatsApp into NGX Invest, as a means of broadening access to the refinery offer.
The Chief Executive Officer of BSE, Aobakwe Aupa Monyatsi, also welcomed the partnership, saying cooperation among African exchanges could broaden investor participation.
Monyatsi said the initiative would also encourage more African markets to participate in collaborative efforts to strengthen investment flows across the continent.
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At an earlier engagement in Nairobi, Kenya, the President of Dangote Group, Aliko Dangote, also commended NGX Group for strengthening cooperation among African capital-market institutions.
Dangote said stronger ties among exchanges could enable businesses to raise capital across multiple markets instead of relying exclusively on domestic investors.
He cited the planned refinery in Mokowe-Lamu, Kenya, as an example of how businesses operating across Africa could explore listings in multiple markets.
Earlier, Kwairanga said the initiative reflected NGX Group’s ambition to strengthen connections among African capital markets and improve access to investment opportunities.
Kwairanga said: “Our vision is to build stronger connections among African capital markets, making it easier for businesses to access capital and for investors to participate in opportunities across the continent.
“The collaboration around the Dangote Refinery offer demonstrates what African exchanges can achieve when we work together toward a shared objective.”
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