Emmanuel OchayiA high-profile delegation of United States institutional investors, led by Cameron Khowsroshahi, Senior Investment Advisor for Prosper Africa, expressed their interest in expanding their investments in Nigeria’s capital market.
The delegation made the declaration during their visit to the Nigerian Exchange (NGX). The delegation which also included representatives from the United States Agency for International Development (USAID) and Power Africa, marked their visit with the ceremonial ringing of the closing gong for the stock market.
Khowsroshahi highlighted the openness of U.S. institutional investors to collaborate with Nigerian counterparts, particularly pension funds, to explore further investment opportunities in the Nigerian capital market.
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He pointed out that U.S. pension funds often invest a substantial portion of their capital in equities, and encouraged Nigerian stakeholders to work with pension regulators to enable more liquidity to flow into the Nigerian equities market. He emphasized the role of private capital from both the U.S. and Africa in achieving sustainable solutions.
Chairman of the Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, called for deeper collaboration between the U.S. and Nigeria, focusing on areas such as removing capital controls, legislation to enhance the attractiveness of listings, pension reforms, and facilitating dollar-denominated market transactions. The NGX Group aims to facilitate increased investment inflows.
Mr. Temi Popoola, CEO of the Nigerian Exchange (NGX), outlined the Exchange’s innovative activities to promote capital formation by both foreign and domestic investors. These efforts include creating an attractive environment for listings and introducing product innovations that attract more funds into the market, such as the technology board to encourage tech startup listings.
“We are working hand-in-hand with government to create an attractive environment for listings and also on product innovation that can creatively channel more funds into the market,” Popoola said.
Bolaji Balogun, CEO of Chapel Hill Denham, expressed optimism that the Nigerian market could emulate the U.S. market by reducing risk aversion to investing pensions in equities, indicating significant potential for mutual economic expansion between the United States and Nigeria.
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