Nigerian Exchange Limited

N200bn AVA Infrastructure Fund Listed on NGX to Drive Nigeria’s Infrastructure Transformation

Published

3 weeks ago

August 30, 2024

AVA Capital Group has officially listed its N200bn Infrastructure Fund on the Nigerian Exchange (NGX).

This listing marks a critical milestone in Nigeria’s journey toward revitalizing key sectors and enhancing the country’s economic growth prospects.

Speaking at the closing gong ceremony at the NGX in Lagos on Thursday, Efe Shaire, Managing Director of AVA Global Asset Managers Limited, described the event as a reflection of the company’s unwavering commitment to Nigeria’s infrastructure development.

“The AVA Infrastructure Fund is a testament to our belief in the promise of Nigeria’s infrastructure development and the impact long-term private sector capital can have in driving productivity gains and sustainable economic growth,” Shaire remarked.

The fund, structured as a N200bn programme, is designed to address Nigeria’s significant infrastructure gap, estimated at around $100bn.

It aims to transform key sectors such as transportation, energy, and telecommunications, unlocking considerable economic potential and significantly improving the quality of life for millions of Nigerians.

“We are confident that the N200bn AVA Infrastructure Fund, once fully raised and deployed, will be instrumental in transforming Nigeria’s infrastructure landscape,” Shaire added.

The fund is expected to play a pivotal role in enabling private sector-driven infrastructure development, focusing on projects that drive national connectivity and economic expansion.

Jude Chiemeka, Chief Executive Officer of the Nigeria Exchange Group, praised the initiative, stating, “It is a N200bn fund with 4,075 units at 1 million per unit. Our participants are creating products that can benefit the country.”

Chiemeka said investments in infrastructure are crucial for spurring economic growth, which is vital for enhancing the country’s overall development.

Femi Shobanjo, CEO of NGX Regulation Limited, also explained the importance of the infrastructure fund to Nigeria’s economy.

He encouraged fund managers to focus on investments that have long-term sustainability and a positive impact on the environmental, social, and governance (ESG) sectors.

“The regulation business is fair, and investment protection is key,” Shobanjo stated, underscoring the importance of regulatory oversight to ensure transparency and accountability in managing the fund’s resources.

The listing of the AVA Infrastructure Fund has garnered widespread support from stakeholders, who view it as a major step forward in addressing Nigeria’s infrastructure challenges.

Senior Doyen of the exchange, Sam Ndata, stated the fund’s potential to catalyze economic growth and enhance connectivity across the nation.

“Our vision with the AVA Infrastructure Fund is clear: to catalyze growth by addressing the critical infrastructure needs that will drive economic expansion, enhance connectivity, and improve the quality of life for millions of Nigerians,” Ndata explained.

He was optimistic that the fund’s impact would be felt across the nation as it helps close the infrastructure gap.

The AVA Infrastructure Fund’s listing is not just a milestone for AVA Capital Group but also a beacon of hope for Nigeria’s infrastructure future.

As private sector-led initiatives like this gain momentum, the potential for growth and development becomes increasingly promising.

This fund aims to be a driving force in transforming Nigeria’s infrastructure landscape, providing the much-needed foundation for sustainable economic growth.

Up Next

Nigerian Equities Market Sheds N1.12 Trillion in Two Months Amid Profit-Taking

Don't Miss

Equities Market Declines as Investors Seek Safe Haven, Loses N176bn

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Comments

Nigerian Exchange Limited

Stock Investors Gain N131 Billion on Tuesday

Published

8 hours ago

September 18, 2024

Samed Olukoya

Nigerian Exchange Limited - Investors King

Nigeria’s equities market opened the holiday-shortened trading week in green as investors bought banking and consumer goods stocks despite record profit taking in insurance, industrial, oil & gas stocks.

“Looking forward, the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the sentiment that rates might have peaked in the fixed income and money markets and investors locking in on current rates, we expect some bearish undertone to persist in the equities market,” according to United Capital research analysts.

The analysts said the bulls “will remain incentivised to persist in bargain hunting, given the tremendous mid-long-term opportunities in the equities market. Fund managers and businesses may begin to entertain mid-long-term (≥6 months) investment objectives, cherry-picking only sound equities with strong fundamentals and ongoing corporate actions. This strategy will maximise market opportunities, thereby optimising portfolio returns”.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 0.23 percent and N131billion from preceding day’s 97,456.62 points and N56.002 trillion respectively to 97,685.63 points and N56.133 trillion.

The market’s year-to-date (YtD) return rose to 30.64 percent.

According to Meristem research analysts, “While we expect subdued participation in the Nigerian equities market this week, we anticipate that buying activity will outweigh profit-taking. Our outlook is hinged on the belief that no major negative catalysts are expected to shift market direction this week. We anticipate that investors will continue selective buying, seeking opportunities across various sectors.

“Additionally, macroeconomic developments and corporate actions from companies could stimulate moderate buying interest in the market. We also do not foresee a significant shift towards the fixed-income market as yields have started to stabilize. However, we acknowledge the potential for profit-taking as short-term investors may look to capitalize on recent gains. Overall, we expect the market to close in the green zone this week,” Meristem analysts said.

Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.32% Boosted by Nestle, Flourmills, and FBN Holdings

Published

6 days ago

September 13, 2024

Investors King

Nigeria’s equities market rose by 0.32 percent or N178billion on Thursday, thanks to Nestle, Flourmills and FBN Holdings that led the league of major advancers on the Lagos Bourse.

FBN Holdings increased from N24 to N26.40, adding N2.40 or 10percent. Caverton rose from N2.10 to N2.31, up by 21kobo or 10percent.

Flour Mills moved from N45.05 to N49.55, up by N4.50 or 9.99percent. RT Briscoe increased from N3.02 to N3.32, down by 30kobo or 9.93 percent, while Nestle rallied from N810 to N890, N80 or 9.88percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All Share Index (ASI) and equities market capitalisation increased from 96,715.04 points and N55.575 trillion respectively to 97,025.17 points and N55.753 trillion.

Access Holdings, FBN Holding, UBA, Caverton and Zenith Bank shares were most trading stocks. In 9,615 deals, investors exchanged 390,546,861 shares valued at N7.974billion.

Ahead of Thursday’s trading, analysts said broader market sentiment will remain balanced, with risk-averse investors maintaining a cautious stance ahead of any major corporate earnings announcements.

Nigerian Exchange Limited

Nigerian Exchange Recovers from Early Week Losses, Market Value Hits N55.6 Trillion

Published

1 week ago

September 11, 2024

Samed Olukoya

The Nigerian Exchange Limited (NGX) rebounded on Tuesday after opening the week in the red.

The NGX All-Share Index appreciated by 0.62 percent to 96,802.8 points while the market value of listed equities stood at N55.626 trillion.

Investors traded 406,194,548 shares valued at N13.313 billion in 12,241 transactions during Tuesday’s trading session.

Investors continued to show interest in Oando, which emerged as the most traded equity in both volume and value.

A total of 58,485,705 shares worth N5.521 billion were exchanged, with Oando’s stock appreciating by N6, or 6.7 percent, from N89.5 to N95.5 per share.

The second most traded stock on Tuesday was Access Holdings Plc with 30,379,481 shares valued at N557.65 million transacted.

However, Access Holdings’ shares lost 55 kobo, or 2.96 percent, declining from N18.95 to N18 per share.

The Exchange’s year-to-date (YtD) return improved to 29.46 percent.

SFS REIT led the gainers’ chart, increasing by N14.80, or 9.98 percent, from N148.35 to N163.15 per share. This was followed by Custodian Investment, which gained N1.10, or 8.87 percent, rising from N12.40 to N13.50, while RT Briscoe moved from N2.82 to N3.10 per share.