Afrinvest (West Africa) Limited (“Afrinvest”), leading investment management holding company acting through its wholly-owned subsidiary, Afrinvest Securities Limited (“ASL”), a broker-dealer licensed by the Securities and Exchange Commission (SEC) and authorised by NGX as a dealing member, in collaboration with the Nigerian Exchange Group (NGX) has announced a strategic partnership with Secondary Securities Trading & Aggregation Exchange (“SecondSTAX”) that will investors in Nigeria invest in securities listed on the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE).
This partnership, which brings together Afrinvest’s wealth of experience as a leading capital market operator and SecondSTAX’s innovative technology platform, will grant investors access to multiple African financial markets, beginning with Ghana and Kenya. Access to the service, will initially be restricted to Qualified Institutional Investors who are able to place a minimum trade orders of N10,000,000 (Ten million Naira only) through ASL.
Speaking about the partnership, Ike Chioke, Group Managing Director of Afrinvest, said “As a company, we continue to innovate to increase the range of investment opportunities available to our clients. With SecondSTAX’s technology, our Nigerian stockbroking clients can now safely access investible securities across other capital markets in Africa.”
“We are delighted to support the NGX in its strategy of deepening Nigeria’s capital markets through this partnership, as the SecondSTAX platform also allows investors in Kenya and Ghana trading access to securities listed on the NGX in their local currencies. This will increase capital inflow into Nigeria’s capital markets,” Chioke added.
Temi Popoola, CEO of the Nigeria Exchange Limited, said “SecondSTAX’s approach to linking capital markets across Africa aligns with our ongoing efforts to deepen our relationship with other capital markets across the continent. We are bullish on the opportunities that abound in the Nigerian capital markets, as well as across the continent, and we are looking forward to a partnership that will support inclusive growth and prosperity for everyone.”
Eugene Tawiah, CEO and co-founder of SecondSTAX, said “Our aim is to integrate Nigeria’s capital markets with other capital markets in Africa and this partnership with Afrinvest and the Nigeria Exchange Group represents a major milestone on our journey. Nigeria’s capital markets are full of lucrative opportunities that have until now been out of reach to investors outside the country. At the same time, investors in Nigeria have largely found it challenging to invest into other capital markets across the continent. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”
