The Nigerian Exchange Limited has vowed to intensify efforts aimed at attracting young investors to the stock market and addressing perennial issues constituting disincentives to the financial technology firms in accessing the market.
From the offshore destinations, the fintech firms have raised over $876.5 million in the last six years. From 2014 to 2020, for instance, fintech raised about $600 million in funding, attracting 25 per cent of the $491.6 million raised by African tech startups in 2019 alone – second only to Kenya, which attracted $149 million.
“The current investors we have in fixed income and equities are from 50 years and above, we need to ask what needs to happen to capture this young generation.” According to him, the exchange has created a board that would focus more on how to make the bourse more competitive by looking into the barriers to entry for tech firms which is presently high and causing them to struggle to list on the exchange.
Source: News Formal (newsformal.com)
NGX is a graveyard.
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