As Nigeria’s capital market surges, Daba and Coronation want global investors in
The partnership comes as Nigeria's stock market continues its surge. The NGX ended August with an all-share index year-to-date return of 56.93%.
Daba Markets Inc., a digital investment platform connecting investors to African capital markets, has partnered with Coronation Securities Limited and Coronation Asset Management Limited to offer Nigerian capital market products to eligible Daba users. This collaboration, announced in a ceremony in Lagos, merges Daba's global platform with Coronation's expertise in Nigeria's capital market.
Daba will serve as Coronation's corporate client, providing its users with access to products such as local stocks, investment funds, securities trading, and investment research. This partnership comes as Nigeria's stock market, the NGX, continues to surge, with a year-to-date return of 56.93% for the all-share index. However, the boom has revealed a gap, with foreign investors participating less in recent months, contributing only 5.6% of total transactions in July.
The partnership aims to bridge this gap by leveraging Coronation's market knowledge and Daba's technology and international reach. Daba, launched in 2021, serves over 250,000 customers globally and tracks 194 listed companies across multiple African exchanges, including the BRVM and the NGX. The companies emphasize that the partnership is focused on market intelligence, investor education, and digital access to address challenges faced by international investors in Nigeria.
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