Capital Market Is the Only Viable Source of Funding For SMEs- NSE

Nigerian Stock Exchange (NSE), has explained that the capital raising opportunities in the stock market is for Small and Medium Scale Enterprise, SMEs, in the country and remains the only viable source of funding.

This was the high point of a webinar hosted by the Exchange recently with the theme, Capital Raising for SMEs through the Stock Exchange.

The webinar was hosted in collaboration with various Trade Groups/Chambers of Commerce in the Northern region of the country, and was headlined by the President, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Hajia Saratu Iya Aliyu.

Speaking at the event, the Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole noted, “The traditional role of The Exchange as a platform for capital formation and liquidity holds good promise for businesses. Despite the impact of COVID-19, the NSE functioned to facilitate needed financing with over N2.5 trillion in capital raised by governments and corporates in 2020 across various asset classes.”

On her part, Hajia Saratu Iya Aliyu stated, “I commend the National Council and Management of the Nigerian Stock Exchange for organising this webinar.

It reflects recognition of the role played by the Chamber of Commerce in promoting the growth and competitiveness of private enterprise in Nigeria. Going forward, I am hopeful that initiatives such as this webinar will spur greater interest in the activities of the Growth Board by the private sector, as it is a conscious effort to give credence to SMEs which are the building blocks of the Nigerian economy.”