VFD Group Harps on SplitXchange to Develop Alternative Finance

Dike Onwuamaeze and Kayode Tokede 

VDF Group Plc has stressed on the need for increased financing for the entertainment and media industry to boost foreign exchange earnings and economic development.

The Managing Director of Splitar Limited, Mr Folagbade Adeyemi, recently stated this while speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) quarterly Forum, sponsored by VFD Group Plc.

Adeyemi noted that the group is actively pursuing an exchange platform tailored to the media and entertainment sector, offering diverse investment opportunities for both domestic and international investors.

He disclosed that SplitXchange, currently in development stage by the group, would offer a platform for financing the media and entertainment industry, among other alternative assets.

Adeyemi noted that seeing the huge potential in the alternative assets, Splitar Holdings through the Split Exchange, would drive the alternative assets space with its revolutionary digital exchange.

With Nigeria’s estimated population at 208.8 million people, Adeyemi highlighted the increasing demand for Nigerian content.

Speaking on the theme: “Beyond Tradition: Increasing Relevance of Alternative Assets in Capital Market,” Adeyemi lamented the absence of robust funding pillars in the country.

Adeyemi noted that funding for the Nigerian entertainment sector primarily originates from outside the country.

According to him, the new market in alternative assets, include Arts and Commodities, Real Estate and Entertainment and Media (E&M).