NGX Group, Nairobi Exchange Chart Path to Deeper Cross-border Ties

The Nigerian Exchange Group (NGX Group) and the Nairobi Securities Exchange (NSE) have been working to deepen cross-border collaboration between their respective markets and across Africa. At a recent engagement in Nairobi, Nigerian Exchange Group CEO Umaru Kwairanga and NSE Group Managing Director Temi Popoola highlighted the importance of strengthening connections between African capital markets.

Aliko Dangote, President and CEO of Dangote Industries, emphasized that greater collaboration among African exchanges could provide companies with access to capital across multiple African markets, rather than being limited to their home countries. The Nairobi engagement, which builds on a strategic meeting held in Lagos in April, represents a significant step towards creating stronger ties between African markets and facilitating cross-border access to capital-market opportunities.

Popoola stressed that Kenya serves as an important first step in translating the ambition of stronger African exchange collaboration into practical action, and that the Kenya engagement can serve as a model for replication across other markets on the continent. The planned groundbreaking of Dangote’s proposed 700,000-barrel-per-day refinery in Lamu, aimed at serving the East African market, underscores the scale of the cross-border business and investment opportunities that could emerge from deeper ties between African exchanges.