NGX and NSE advance Africa cross‑border collaboration for African markets
NGX Group and the Nairobi Securities Exchange convened a high‑level meeting in Nairobi on Tuesday to deepen cross‑border collaboration between Nigerian and Kenyan markets. Speaking at the Dangote Petroleum Refinery IPO investor engagement hosted by the NSE, Aliko Dangote praised NGX Group Chairman Umaru Kwairanga and Group MD/CEO Temi Popoola for pushing African exchanges to work together. He noted that stronger ties would let firms access capital in more than one African market, citing the planned Dangote refinery in Mokowe‑Lamu as an example of a pan‑African project that could benefit from multi‑market listings.
The Nairobi talks build on a strategic meeting NGX hosted in Lagos in April, where leaders of major African exchanges discussed connectivity and the African Exchanges Linkage Project (AELP). Popoola said the engagement is a prototype for broader continental cooperation, aiming to create a model that can be replicated across West Africa and beyond to ease cross‑border access to capital‑market opportunities. Frank Mwiti, CEO of the NSE, welcomed the partnership, saying it would deepen relationships, share expertise and expand opportunities for investors and issuers.
For investors and businesses, this means African companies may soon list on more than one exchange, widening their investor base and potentially lowering financing costs. Will you consider seeking listings or investments across multiple African exchanges, or do you see hurdles that could limit such cross‑border moves?