NGX delegation visits Shanghai Stock Exchange, strengthens capital market collaboration
Nike Popoola
In a significant move aimed at deepening international collaboration and knowledge exchange, the Chairman of Nigerian Exchange Group (NGX), Alhaji (Dr.) Umaru Kwairanga, led a high-level delegation to the Shanghai Stock Exchange (SSE) for a board-level interaction held today in Shanghai, China.
During his opening remarks, Alh. Kwairanga expressed profound appreciation for the warm welcome extended by the SSE and commended China’s impressive transformation into a global economic powerhouse. He highlighted the remarkable growth of the Shanghai Stock Exchange, noting its evolution into one of the world’s leading exchanges with a market capitalization exceeding $6 trillion.
“Nigeria and China share many similarities,” Kwairanga said. “Just like China, Nigeria has a dynamic and diverse population, and an economy driven by small and medium-scale enterprises. The NGX, as Nigeria’s foremost exchange, is poised for rapid growth, and we see significant value in learning from the SSE’s journey.”
Emphasizing the recent transformation of NGX from a mutual organization into a for-profit public company, the Chairman noted that the shift, though promising, has brought challenges in areas such as governance, technology adoption, market development, and profitability. He acknowledged the SSE’s proven track record in these areas and expressed NGX’s eagerness to learn from its experience.
“We believe that in today’s fast-evolving and borderless financial world, collaboration is key to survival and sustainable growth,” he added. “We are here not just to congratulate you, but to share ideas, learn, and establish mutually beneficial partnerships that will enhance the resilience and global competitiveness of our respective exchanges.”
The engagement aims to foster cooperation between the NGX and SSE, with a focus on technological innovation, capital market development, and bilateral market access. NGX anticipates that this strategic dialogue will lay the groundwork for long-term partnerships that will benefit both economies and their capital markets.
