NSE Announces Growth Board for SMEs

• NSE Announces Growth Board for SMEs

The Nigerian Stock Exchange (NSE) has launched a new index for Small and Medium Enterprises (SMEs), stated the Chief Executive Officer, NSE, Mr Oscar Onyema.

The new index called the growth board would encourage investment in small businesses and promote liquidity in trading their shares.

Speaking at the launching of the growth board, Onyema said: “From a growth perspective, Nigeria had the single largest representation with 97 companies featured in the 2019 Companies to Inspire Africa report jointly produced by the London Stock Exchange and the PwC Africa.

“The high representation by Nigerian growth companies clearly emphasises the opportunities present in the segment and the nation at large.”

The CEO said the board was designed with enough flexibility to allow accessibility of promising small busineses.

Onyema said, “The segmentation of the boards also provides alternative options for interested investors to participate in each company’s growth journey.

“To successfully achieve our listed companies’ growth strategy and listing objectives, the NSE will be collaborating with various strategic business partners and value-added service providers to offer cost-effective services to create a competitive edge for listed companies within their respective industries while stimulating investors’ interest through enhanced information delivery.

“Services such as pre-listing diagnostics and institutional services such as audit, financial advisory, legal advisory, corporate strategic advisory, investor relations, analyst coverage, corporate access and corporate governance will be provided.

“The Exchange will also provide tailored training on its learning and ‘development platform ‘X-Academy’ for capacity development and to promote increased corporate governance for boards and employees of companies on the growth board.”