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Stock Exchange Eyes Emerging Technologies to Drive Growth

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NSE
  • Stock Exchange Eyes Emerging Technologies to Drive Growth

The Nigerian Stock Exchange (NSE) is considering the use of some major emerging technologies to further deepen investors’ participation and enhance the efficiencies of products and services in the stock market.

Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr Oscar Onyema, said while the Exchange had deployed advanced technologies that place it at the same level with global exchanges, there are plans to deploy new emerging technologies that would further deepen the market.

Speaking at the 4th edition of the NSE-Bloomberg CEO Roundtable in Lagos, Onyema said the NSE plans to be at the forefront of the Nigeria’s advancement in the world’s fourth industrial revolution.

“In order to capitalise on the opportunities presented by the fourth industrial revolution, the Exchange is investigating the market potential of key emerging technologies in order to deploy solutions which will empower a larger proportion of the populace to access the capital market and unlock efficiencies in product and service delivery for capital market operators,” Onyema said.

He noted that the theme of the roundtable: Reshaping the Nigerian Economy for Sustainable Growth: Leveraging the Fourth Industrial Revolution as a Catalyst for Advancement, provided opportunity to examine the present state of Nigerian economy as well as share ideas on the fourth industrial revolution and its implications for the Nigerian economy.

According to him, this year’s roundtable was designed not only to discuss frameworks for economic turnaround, but explore how to position the Nigerian economy for sustained growth.

He noted that most of the world’s developed economies have begun to adapt to the fourth industrial revolution, which has integrated digital, physical and even biological technologies, with clear impacts on unlocking latent economic value, with far-reaching effects that have led to disruption of certain industries and creation of new ones.

“The opportunity the fourth industrial revolution presents is unlike any other, as the barriers to entry are low, with an upside that is vast and yet to be quantified. At the Exchange, we consider ourselves to be a forward-thinking securities exchange, and have since begun the advancement of our offerings with the assistance of technology,” Onyema said.

In 2013, the NSE launched X-Gen, its next generation trading platform and catalyst for boosting trading in Africa. On the back of this, it introduced TradeSmart, a mobile trading technology that enables investors to conveniently buy, sell and monitor their investments.

Onyema said the Exchange has embraced cloud-based technologies by building its own Data Centre to provide a number of services ranging from cloud computing, storage and database offering, networking, and management tools among others.

He added that the Exchange had also acquired SMARTS, a robust market surveillance technology with Artificial Intelligence to monitor and prevent marker abuse by fraudsters.

“This technology helps NSE to proactively forestall market manipulation, spoofing etc. This has elevated the investor protection systems at the NSE to the same level as the exchanges in the Intermarket Surveillance Group (ISG), a global organization which monitors for manipulative and fraudulent market practices, and shares information between international members,” Onyema said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Banking Sector

Access Holdings Plc Plans $1.8 Billion Capital Raise

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Access bank

Access Holdings Plc, the parent company of Nigeria’s leading bank, Access Bank Plc, has unveiled ambitious plans for a $1.8 billion capital raise aimed at fueling its expansion efforts over the next four years.

The strategic move comes as Access sets its sights on becoming one of the largest lenders on the African continent.

During a conference call with investors in Lagos, executives outlined the company’s intention to raise $1.5 billion, or the naira equivalent, through the issuance of shares, bonds, or other financial instruments.

Also, Access aims to generate up to 365 billion naira ($257 million) by selling shares to existing investors.

Bolaji Agbede, acting group chief executive officer, clarified that the current fundraising initiative primarily involves a rights issue.

The capital infusion is earmarked to support Access’s ambitious growth plan, which commenced last year.

The bank intends to expand its footprint into new markets, including Morocco, Egypt, and the United States, as part of a broader strategy to double the share of assets outside its home market by 2027.

With operations spanning 22 countries, including the United Arab Emirates and the UK, Access Bank is positioning itself for significant international growth.

The recent appointment of Bolaji Agbede as acting group CEO follows the passing of co-founder and former CEO, Herbert Wigwe, adding a layer of significance to the bank’s future direction.

Access’s acquisition of National Bank of Kenya Ltd. underscores its commitment to expanding its presence in East Africa’s largest economy.

As Access Bank charts its course for expansion, the $1.8 billion capital raise signals its determination to seize opportunities in a rapidly evolving financial landscape, both domestically and across the African continent.

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Finance

OPEC+ Production Cuts and Geopolitical Tensions Propel Oil Price to Over $87

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Crude oil - Investors King

Oil price surged past the $87 price level on Thursday on the back of production cuts by OPEC+ nations and escalating geopolitical tensions.

Brent crude oil, against which Nigerian oil is priced, rose by $1.39 or 1.6% to $87.48 a barrel, its highest level since October 27.

OPEC+, the alliance of major oil-producing nations, has remained resolute in its commitment to curtail output, effectively tightening the supply of crude in the market.

Despite calls for increased production to alleviate soaring prices, the alliance has opted to maintain its course, further buoying the market sentiment.

Simultaneously, geopolitical tensions have added fuel to the fire. Attacks on Russia’s energy infrastructure, particularly by Ukraine, have sparked concerns over potential disruptions to the global oil supply chain.

Despite diplomatic efforts to deter such actions, the situation remains precarious, contributing to market anxieties.

Analysts suggest that these price surges may have long-term implications for global economies, particularly for oil-importing nations heavily reliant on stable energy prices.

Furthermore, the impact of rising oil prices on inflation and consumer spending patterns remains a point of contention among economists and policymakers.

As the world watches with bated breath, the trajectory of oil prices hinges on a delicate balance between geopolitical developments, OPEC+ policies, and the broader economic landscape.

For now, the $87 threshold serves as a stark reminder of the volatility and interconnectedness inherent in the global energy markets.

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Insurance

Heirs Insurance Group Unveils Revolutionary Website for Seamless Insurance Experience

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Heirs Life Assurance- Investors King

Heirs Insurance Group has launched a website designed to revolutionize the insurance experience for its customers.

With a focus on simplicity, accessibility, and personalized service, the new website aims to streamline the process of obtaining insurance coverage and empower customers to make informed decisions about their insurance needs.

The website boasts a range of innovative features that make navigating insurance options easier than ever before.

From simple and intuitive navigation menus to personalized insurance recommendations, the website is designed to guide customers through every step of the insurance process quickly and efficiently.

According to Ifesinachi Okpagu, the Chief Marketing Officer of Heirs Insurance Group, the new website embodies the company’s commitment to delivering exceptional customer service.

“Today’s customers want simplicity, and this new website delivers on that request,” Okpagu said. “We are empowering customers to take control of their lives, their businesses, assets, and their most cherished people.”

One of the key features of the website is its personalized insurance experience, which takes customers through a short journey to help them identify the best insurance plan for their needs.

Whether customers are looking for coverage for their home, car, business, or loved ones, the website provides tailored recommendations to ensure they find the right insurance solution quickly and easily.

With its user-friendly interface and innovative features, the new website from Heirs Insurance Group sets a new standard for the insurance industry, making it easier than ever for customers to protect what matters most to them.

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