The collaboration, which aims to bolster economic growth and investment prospects throughout Africa, was formally announced during a high-profile product launch event at the stock exchange.
This partnership, highlighted in a report by The Punch, promises to revolutionize the financial landscape by simplifying access for licensed broker-dealers, asset managers, major commercial banks and other institutional investors from across the continent.
They will gain entry to the exchange through SecondSTAX’s user-friendly, transparent, cloud-based portal, conducting transactions in their native currencies.
This development significantly broadens the range of assets and opportunities available to a more extensive African audience, advancing the pursuit of wealth accumulation on the continent.
SecondSTAX underscores that its success in forging this alliance was made possible through close collaboration with Afrinvest (West Africa) Limited, “A well-established capital market holding company in Nigeria with a diverse portfolio spanning investment banking, securities trading, asset management, trustee services, consulting, and financial technology.”
The joint effort between SecondSTAX and NGX aspires to redefine the financial landscape in Nigeria and across Africa, marrying SecondSTAX’s technological innovation with NGX’s esteemed reputation as a leading regional stock exchange.
This partnership’s primary objective is to open new avenues for businesses, entrepreneurs, and investors, making it simpler for them to engage in and thrive within the dynamic African economy.
Key goals and benefits of this partnership encompass:
- Enhanced Access to Capital: SecondSTAX’s cutting-edge technology streamlines Nigerian businesses’ access to capital markets, facilitating efficient fundraising and supporting growth and expansion plans.
- Increased Liquidity: NGX’s platform, in conjunction with SecondSTAX’s expertise, will enhance liquidity in capital markets, fostering a more dynamic trading environment for both retail and institutional investors.
- Innovation and Efficiency: The collaboration introduces innovative solutions and digital tools, simplifying investment processes for investors and businesses looking to list and manage their securities.
- Diversified Investment Opportunities: Investors will enjoy access to a broader range of investment opportunities, including underserved sectors and emerging businesses.
- Market Education: SecondSTAX and NGX commit to providing educational resources and training programs, enhancing financial market understanding among investors and businesses.
During the launch event, representatives from SecondSTAX and NGX expressed their excitement about the partnership and its potential to reshape Nigeria and Africa’s economies.
They emphasized their dedication to fostering sustainable economic growth, job creation and overall prosperity for people across the continent.
Upon NGX launch, the service will be exclusively available to Qualified Institutional Investors initially, with a minimum trade order requirement of $10,000.00 (or its Nigerian naira equivalent). Gradually, this restriction will be eased to broaden access to a broader range of customers.
SecondSTAX’s portal, a tech-driven smart order management and execution routing system designed for investment firms (licensed broker-dealers, asset managers, or institutional investors), is complemented by comprehensive news, research, data, and operational systems, enriching the workflow experience for investment firms.