Stockbrokers strategise to ensure capital market rebound

269

The Chartered Institute of Stockbrokers (CIS) says it has repackaged the processes and procedures of its annual conference to renew investor confidence in the Nigerian capital market, drive innovation and grow membership base.

Ms Abiola Adekoya, the Chairman, Planning Committe, stated this at a news conference in Lagos on the high points of 2019 Stockbrokers’ Annual Conference.

Adekoya, also the Managing Director, RMD Nigeria Stockbrokers, said that the conference theme: “Boosting Capital Market Competivetiness in a Challenging Macro Envrionment,” would help in repositioning the market.

She said that the theme was chosen to articulate policy measures that would reposition the capital market to play its pivotal role as a platform for mobilisation of funds for economic growth and development.

Adekoya said that issues such as innovation and growth, fintech, attracting talents to securities industry and nexus between agriculture and the capital market would form the fulcrum of plenary sessions at the conference.

“ With the integrated and digital-driven global economy of today, the barriers to competition are gradually coming down, making it necessary for stockbroking firms with exposure to the domestic market to innovate to retain and attract customers.

“Given the challenging domestic macroeconomic environment and liberal immigration policies in advanced economies with aging populations, retaining talent in the securities industry has been difficult, with negative implications for performance.

“Now more than ever, strategies to attract and develop a solid pipeline of talent fit for the securities industry is important,” she said.

Also speaking, Mr Tunde Amolegbe, CIS First Vice President, said that the significance of discussing Fintech at the conference should be appreciated against the background of the institute’s efforts at ensuring the success of the government’s policy on financial inclusion.

Amolegbe stated that the conference would bring about robust ideas on how to reposition the market in view of the unfolding developments in the global economy.

On implication of Fintech on transaction cost, Amolegbe explained that it would make the cost cheaper and encourage more participation in the market across the board.

Mr Akeem Oyewale, Managing Director, Stanbic IBTC Nominees, said that this year’s conference would spring up conversation around the strategies to make the securities industry attractive to the millennials.

Oyewale said that the main purpose of the conference was to review the landscape from macro environment perspective to see how capital market would comtinue to play major role in economic development.

In her contributions, the Managing Director, FBN Quest Securities, Mrs Fiona Ahimie, said the conference would deepen participants’ understanding of investment opportunities in the capital market and how to take advantage.

Corroborating Ahimie, the Managing Director, Afrinvest Securities, Mr Ayodeji Ebo noted that conference would address a wide range of economic and political issues, especially, how stockbrokers can take advantage of the capital market to boost their earnings.

Ebo said that the CIS past conferences had helped market regulators in policy formulation and aided operators to develop and embrace ideas to drive their businesses.

The Managing Director, Morgan Capital, Mr Muyiwa Adeyemi, said that the main objective of this year’s conference was to create a platform where contemporary development issues would be articulated for enhanced competitiveness of the capital market.

The News Agency of Nigeria (NAN) reports that the conference is slated for Nov. 21 and Nov. 22 at Oriental Hotel, Victoria Island, Lagos. (NAN)

LEAVE A REPLY

Please enter your comment!
Please enter your name here