S’African Banks Target Nigerian Firms, Visit NSE

Oscar Onyema, chief executive officer of the Nigeria Stock ExchangeOscar Onyema, chief executive officer of the Nigeria Stock Exchange. Photographer: Simon Dawson
  • S’African Banks Target Nigerian Firms, Visit NSE

Investment bankers in South Africa have indicated their interest in partnering companies in Nigeria, and have chosen to visit the Nigerian Stock Exchange in that respect.

This is coming as the bankers commended the Lagos Business School for hosting the International Executive Development Programme for the Banking Sector and Training Authority, held in Lagos.

The five-day programme, which started last Monday, brought together potential leaders from the investment banking sector in South Africa.

They learned about best practices in the Nigerian economy, culture and environment.

The Principal, Markets Distribution, Absa Capital South Africa, Thebe Mabiletsa, commended the Lagos Business School for hosting the professionals, adding that the experience had broadened the delegation’s horizon.

He revealed that Nigerian businesses “have created a niche space in terms of their innovation and expertise which can make them partner favourably with South African banks as well as other banks on the continent.”

The Lead Professor/Orchestrator, Duke University, Jared Bleak, said the key lessons from the week-long programme were evident in the prospects for Nigerian banks becoming more international.

“The internationalisation of Nigerian banks is happening, and even the South African groups here have learned from the economy and possibly thinking about partnerships,” he stated.

The Senior Lecturer, Strategy, Finance and Risk Management, Lagos Business School, Dr. Franklin Ngwu, said that it was a great feat helping the South African investment bankers to understudy the Nigerian financial sector to see areas of opportunity, investment and collaboration between the two countries.

“We have exposed them to both the formal and informal aspects of the economy and we envisage a possible cooperation and investment between the two economies,” he said.

The Chief Executive Officer, NSE, Mr. Oscar Onyema, commended the Lagos Business School for the IEDP initiative, stating that opportunities such as this afforded the stock exchange an avenue to share relevant information which would in turn boost the confidence in the Nigerian capital markets and the Nigerian economy at large.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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