The Nigerian Exchange NGX Group and Aliko Dangote, founder of Dangote Group, met with African stock exchanges to discuss cross-border listings and capital market integration, focusing on the Dangote Refinery listing as a test case and strategies to boost capital flow.
The Nigerian Exchange NGX Group Plc and Aliko Dangote, the founder of Dangote Group , convened a crucial meeting with executives from various African stock exchanges to explore cross-border listings and foster capital market integration across the continent. Held in Lagos on April 1, the gathering brought together key stakeholders under the umbrella of the African Securities Exchanges Association.
Attendees included representatives from prominent exchanges such as the Johannesburg Stock Exchange JSE, the Ghana Stock Exchange GSE, the Ethiopian Securities Exchange ESX, the Bourse Régionale des Valeurs Mobilières, and the Nairobi Securities Exchange. The session also saw the participation of Emomotimi Agama, the director-general of the Securities and Exchange Commission SEC, along with representatives from issuing houses and financial advisors, including Vetiva Capital Management, Stanbic IBTC Capital, and FirstCap. The primary focus of the meeting centered on the proposed listing of the Dangote Petroleum Refinery, envisioned as a test case for cross-border capital formation and enhanced investor participation across African markets. The discussions extended to encompass strategies for broadening access to capital and establishing efficient pathways for issuers to raise funds across multiple jurisdictions. Umaru Kwairanga, chairman of NGX Group, emphasized the pivotal role of interconnected markets in shaping Africa's economic trajectory. He stated that the continent's economic future hinges on the effective connection of its markets and the mobilization of indigenous capital. Kwairanga underscored the importance of strengthened collaboration among exchanges to build robust financial systems that can sustainably fuel long-term growth across the continent. Temi Popoola, group managing director and chief executive officer of NGX Group, echoed the sentiment, highlighting the critical role of deeper collaboration in unlocking liquidity and optimizing cross-border capital flow. Popoola articulated the aim as not just facilitating individual transactions, but also constructing a durable framework that facilitates the efficient movement of African capital across borders. He emphasized that enhanced collaboration among exchanges is paramount for unlocking liquidity and positioning Africa as a globally competitive investment destination. Furthermore, Agama portrayed the meeting as a significant milestone towards integrating Africa’s capital markets and fostering a unified investment environment. He emphasized the importance of creating an integrated investment environment where African capital can be mobilized to fund Africa’s development and affirmed the Commission's unwavering commitment to supporting this process and ensuring its success.\Aliko Dangote expressed that the planned refinery listing aims at generating sustainable wealth and enabling African investors to participate in substantial projects within the continent. Dangote asserted the commitment to create long-term wealth for Africa by providing opportunities for Africans to invest in and benefit from world-class assets developed within the continent. He emphasized that the group is actively building businesses with robust foreign currency earning potential and will persistently list these assets, offering investors across Africa the opportunity to partake in their growth. The statement also highlighted that the participating exchanges' representatives recognized the necessity for stronger alignment among African markets to tackle market fragmentation and unleash growth. Representatives stated that what is being developed has the potential to reshape Africa’s capital markets and that addressing fragmentation by means of stronger alignment among exchanges will be key to unlocking liquidity, expanding access, and positioning Africa for sustained growth. Discussions also involved frameworks for multi-jurisdictional listings, including the enhancement of cross-border settlement systems, and the strengthening of market infrastructure. The Dangote refinery, recognized as the world’s largest single-train refinery, is anticipated to stimulate Nigeria’s capital market and contribute to broader economic objectives. These goals include reducing reliance on imported petroleum products and increasing foreign exchange earnings. The NGX Group stated that the engagement represents a significant step towards building a more integrated African capital market and facilitating the unobstructed flow of capital throughout the continent.\The meeting in Lagos served as a crucial platform for African exchanges to deliberate on strategies to facilitate cross-border listings and enhance capital market integration. The presence of key stakeholders, including representatives from major exchanges and regulatory bodies, underscores the importance of the initiative. The proposed listing of the Dangote Petroleum Refinery serves as a tangible example of how cross-border listings can stimulate capital formation and attract investor participation. The commitment of both NGX Group and Aliko Dangote reflects a proactive approach to developing the African capital markets. The Dangote refinery project, along with other similar initiatives, offers opportunities for long-term growth. The focus on establishing frameworks for multi-jurisdictional listings will promote efficiency and make markets more accessible. The involvement of financial advisors and issuing houses is essential for the smooth functioning of these cross-border transactions and ensures the provision of expert guidance. The meeting reinforced the need for enhanced collaboration amongst African exchanges. Such cooperation can promote liquidity and attract investment, ultimately fostering sustainable economic development throughout the region. The meeting laid the foundation for creating a unified investment environment, allowing African capital to be invested in projects across the continent. This will lead to wealth creation for the investors and the countries involved. The plans to build strong businesses with a strong foreign currency earnings potential shows that African businessmen are becoming more strategic and focused on wealth creation within Africa
NGX Dangote Group African Exchanges Cross-Border Listings Capital Market Integration
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
INEC: David Mark-led ADC relying on emotional blackmailThe Minister of Aviation and Aerospace Development, Festus Keyamo, criticized a group within the African Democratic Congress, ADC, faction led by David Mark. Keyamo said Mark's faction is using emotional blackmail rather than focusing on the legal problems in their internal conflict.
Read more »
World Cup 2026: DR Congo better team than NigeriaRenowned African football journalist Thomas Kwenaite has asserted that the Democratic Republic of Congo is a stronger team than Cameroon and Nigeria as they head into the 2026 FIFA World Cup.
Read more »
Uganda receives first batch of deportees of African origin from USUganda says it has received deportees of African origin from the United States following a bilateral agreement between both countries...
Read more »
Benue South Group Demands Zoning of Governorship and Senatorial Positions, Cites Political ExclusionThe Benue South Strategic Group (BSSG) advocates for zoning in Benue State to address historical political marginalization of certain ethnic groups, demanding a governor and Speaker of the House from the region. The group aims to correct imbalances, particularly in senatorial representation, and seeks alliances for the 2027 elections.
Read more »
Labour and Nigeria Democratic Congress Criticize African Democratic Congress Leadership DisputeThe Labour Party and the newly registered Nigeria Democratic Congress have criticized the African Democratic Congress over its ongoing leadership crisis, following a court of appeal judgment. Both parties, referencing their own past legal battles, urged the ADC to resolve its issues or join their ranks.
Read more »
NGX Trading Activity Reflects Mixed Market Performance Amidst Easter HolidayThe Nigerian Exchange (NGX) saw a mixed performance in the week ending Thursday, April 4, 2026, with a decrease in trading volume and value compared to the previous week. The market operated for four days due to the Easter holiday. The financial services industry led in trading volume. The All-Share Index (ASI) increased slightly while several stocks experienced price fluctuations.
Read more »