The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, has announced that last year’s performance review of the market will be done on Monday.
He also stated that plans for this year would be unveiled. According to the exchange, the presentation to be given by Onyema would cover the global capital market review between Africa and the world.
“A review of the performance of the exchange. This will cover product performance (equities, fixed income and exchange-traded products), The NSE’s strategic performance across business development (listings, index launch, strategic projects etc.), market initiatives (business partnerships, innovation, advocacy and more), and corporate citizenship development (ESG related efforts),” the exchange said.
The exchange added that Onyema would also give the prognosis for 2020, covering local and international market postulations, the NSE’s strategic initiatives, and more.
According to the NSE, the Nigerian capital market mirrors the performance of the larger economy, which continued its moderate path of recovery.
“Despite challenges faced, the NSE continued to execute on its 2018 – 2021 corporate strategy, geared towards (a) enhancing the customer experience across the value chain, (b) reorganization for success, and (c) capitalising on mission-critical strategic initiatives (demutualisation),” the exchange stated.
“In 2019, we continued to enhance our product portfolio, orchestrated ground-breaking investment forums and listed some of Africa’s largest companies. This resilience saw the market capitalisation increased by 20.42 per cent to N12.92 trillion from N10.72trillion in 2018. Turnover also increased by 389.26 per cent when compared to 2018. The capital raising was dominated by the federal government, being responsible for 60 per cent of bond issuances during the period in a bid to finance fiscal and infrastructure deficits.”