The Chief Executive Officer, The Nigerian Stock Exchange (NSE), Oscar Onyema, has shared some of the efforts of the NSE to sustain operations as disruptive impacts on the COVID-19 pandemic is being expressed in global economies.
He spoke on the initiatives during the African Stock Exchanges panel session at the Brand Africa 100 Launch in commemoration of Africa Day 2020, organised by IC Events, Brand Leadership and Africa Practice.
Onyema, who spoke alongside the CEO, Johannesburg Stock Exchange, Dr. Leila Fourie and CEO, Nairobi Securities Exchange, Geoffery Odundo, at the forum discussed the impacts of COVID-19 on their respective economies.
The panelists expressed similar experiences in terms of volatility of the market, future expectations of issuers and the critical need for partnerships across Africa to boost productivity and project the continent’s best brands.
Speaking to the impact of COVID-19 on Nigeria’s capital market ecosystem, Onyema said, “Since we transitioned to seamless remote trading and working in response to COVID-19, we have seen a lot of activity across diverse asset classes. Investors have enjoyed dividend payouts in double digits in the equities market; attained relative safety in the fixed income market; and are reaping strong returns in alternative asset classes like the Newgold ETF.
“On the part of the issuers, while there continues to be activity in the primary market, we foresee an increased inclination from governments and corporates to raise capital in the domestic market, particularly through bonds and secondary market issuances.”
