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SecondSTAX & NGX partner to boost African institutional Investment

By Delisha Fernandes

October 09, 2023

  • Asset Management
  • Capital Market
  • FinTech Africa

SecondSTAX, Nigerian Exchange Limited, institutional investment, capital market, : investment banking, securities, trading, asset management, FinTech news, FinTech AfricaSecondSTAX, a technology company that is building solutions to enhance intra-Africa capital and investment flows, has announced a new partnership with the Nigerian Exchange Limited (NGX) that will enable institutional investors from across Africa to directly invest into Nigeria’s capital markets.

The new partnership was established in close collaboration with Afrinvest (West Africa) Limited, a capital market holding company in Nigeria active in six principal areas: investment banking, securities trading, asset management, trustee, consulting and financial technology.

Eugene Tawiah, CEO and co-founder of SecondSTAX, said, “Our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with the Nigerian Exchange Limited 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 institutional investors outside the country. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”

This joint effort will make it easier for licensed broker-dealers, asset managers, large commercial banks and other institutional investors from across the continent to invest in Nigeria’s premier exchange via SecondSTAX’s transparent, easy-to-use, cloud-based portal. Investors will also be able to invest in their native currencies, making a wider range of assets and opportunities available to more Africans and creating an efficient route to increased wealth on the continent.

SecondSTAX is building technology solutions for investment firms that will power the seamless flow of capital and institutional investment across the continent, and it is consolidating all debt and equity capital markets throughout Africa, making it easier to access opportunities in relevant markets.

The platform facilitates transactions by securely and efficiently routing orders onto existing mature capital markets infrastructure in complete compliance with local regulations. As a result, African investment firms are empowered to do more for their clients and have the opportunity to earn more for themselves.

Temi Popoola, CEO, Nigerian Exchange Limited, said, “This closely aligns with our ongoing efforts to foster innovation and growth in our market through initiatives such as the African Exchanges Linkage Project, which aims to integrate capital markets in the continent; and our partnership with Afreximbank’s Pan African Payments Settlement System (PAPPS) to facilitate seamless cross-border transactions within the African capital markets.”

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