According to Mr. Temi Popoola, the chief executive of the Nigerian Exchange (NGX) Limited, efforts are being made to ensure that the Nigerian capital market reaches the net zero emissions target.
Achieving net zero emissions means striking a balance between the amount of greenhouse gases released into the atmosphere and the amount of greenhouse gases removed from it.
The NGX CEO stated that the bourse hopes to attain the target by looking into partnerships with organizations on sustainability efforts and overall market development at an event on Tuesday in Lagos.
The new Group Chief Executive Officer (GCEO) of Ecobank Transnational Incorporated (ETI), Mr. Jeremy Awori, was introduced to the capital market at the closing gong ceremony, and Mr. Popoola stated, “This aligns with our goal at NGX to do more for SMEs as we believe they are the engine of economic growth.”
A couple of our agreements, such as the Memorandum of Understanding with the Bank of Industry (BoI), were made possible as a result of this.
“I also want to commend ETI for its work on sustainability and for playing an important leadership role in setting an example for the market,” he said further.
According to the CEO, the exchange has significant sustainability ambitions, particularly in relation to reducing carbon emissions, and is looking into partnering with organizations like ETI to advance the capital market’s transition to net zero.
Mr. Awori stated that Nigeria, the largest economy in the continent of Africa, was a crucial market for SMEs.
“As a pan-African bank, we are working on tapping value from the African Continental Free Trade Area Agreement (AfCFTA).”
“We will continue to create more value in the country amidst the developments in technology, payments and SMEs.” stated Mr. Awori.
The GCEO said that ETI would actively collaborate with the bourse on developmental efforts and praised NGX for its leading role and innovations, including the NGX Technology Board, Exchange Traded Funds market development, and sustainability push.
“We will be building up our corporate and SME banking businesses as we are focused on growth transformation and maximising value for shareholders and investors,” he stated.
Both the managing director of Ecobank Nigeria, Mr. Bolaji Lawal, and the chairperson of Ecobank Nigeria, Mrs. Bola Adesola, said in their remarks that the domestic company would collaborate with NGX and was open to other partnerships.
