NGX Group AGM: Popoola Highlights Strategies to Enhance Listings

The NGX Group GMD/CEO, Mr. Temi Popoola has outlined strategies to drive listings, tackle delistings and other market challenges, emphasizing the importance of government policy and alternative asset classes.

Speaking at the Company’s 63rd Annual General Meeting (AGM) in Lagos, Popoola highlighted the role of government policy in driving listings, citing historical successes such as the indigenization policy of the 1970s.

He stated, “Policy can drive companies to list if the government wills it, and it worked during the indigenization policy of the 70s.”

Addressing the global trend of delistings, Popoola pointed to the Johannesburg Stock Exchange’s experience, noting the significant decrease in the number of listings over the years.

However, he offered a positive perspective, suggesting that a decrease in listed companies could be offset by an increase in market capitalization. He remarked, “If you have 10 companies that delist with an aggregate value of N50billion, you can have two listings with an aggregate value of N5trillion.”

Looking ahead, Popoola discussed the growing importance of alternative asset classes, particularly private markets, in the face of changing market dynamics. He revealed plans to explore private markets as part of NGX’s strategy, stating, “Part of our vertical creation will be a private market entity.”