The Nigerian Stock Exchange on Wednesday, expressed it’s willingness to support the growth and development of small businesses in the Country.
This was in recognition of SMEs as critical agents of economic development and transformation in Nigeria,
Speaking at a webinar hosted by The Exchange, with the theme: “Capital Raising for SMEs through the Stock Exchange” the Divisional Head, Listings Business, NSE, Mr. Olumide Bolumole said the traditional role of The Exchange as a platform for capital formation, and liquidity holds good promise for businesses.
He said, despite the impact of COVID-19, the NSE functioned to facilitate needed financing with over ₦2.5trn in capital raised by governments, and corporates in 2020 across various asset classes.
According to him, the Exchange in January 2020 launched the NSE Growth Board, which was designed to support companies, in their growth phase and this caters to SMEs.
He noted that access to capital is a key challenge faced by companies active in various sectors of the economy, adding that the NSE continues to provide alternative funding opportunities to catalyse business growth.
On her part, Hajia Saratu Iya Aliyu stated, “I commend the National Council and Management of the Nigerian Stock Exchange for organising this webinar and for extending this invitation to me to give the keynote address at this event; it reflects a recognition of the role played by the Chamber of Commerce in promoting the growth and competitiveness of a private enterprise in Nigeria.
“Going forward, I am hopeful that initiatives such as this webinar will spur greater interest in the activities of the Growth Board by the private sector, as it is a conscious effort to give credence to SMEs which are the building blocks of the Nigerian economy,” she said.
She said: “the Exchange continues to deliver on its commitment to narrow the undesirable gap in SMEs ability to access right-sized capital and facilitate the flow of sustainable resources to spur the growth of SMEs”