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CEO of NSE: Investors Enjoy Equities Market Success Amid COVID-19

CEO of NSE: Investors Enjoy Equities Market Success Amid COVID-19

The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar N. Onyema, has detailed some of the exchange’s efforts during the coronavirus pandemic in a panel session on Monday.

In particular, Onyema of the NSE, alongside the CEO, Johannesburg Stock Exchange, Dr. Leila Fourie and CEO, Nairobi Securities Exchange, Geoffery Odundo, spoke on the African Stock Exchanges panel session at the Brand Africa 100 Launch.

During the panel, Onyema discussed COVID-19 and the impact it has had on the Nigerian economy. During the session, the panelists all discussed their experiences with the volatility of the markets, future expectations of issuers. The speakers also highlighted that there is a critical need for partnerships across Africa in order to increase productivity as well as project the continent’s best brands. Suggested articles

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Commenting on the impact of COVID-19 on Nigeria’s capital market ecosystem, Onyema said during the panel: “Since we transitioned to seamless remote trading and working in response to COVID-19, we have seen a lot of activity across diverse asset classes. Investors have enjoyed dividend payouts in double digits in the equities market, attained relative safety in the fixed income market, and are reaping strong returns in alternative asset classes like the Newgold ETF.

“On the part of the issuers, while there continues to be activity in the primary market, we foresee an increased inclination from governments and corporates to raise capital in the domestic market, particularly through bonds and secondary market issuances.” Exchanges benefit from COVID-19 volatility

Although the coronavirus pandemic has brought its fair share of challenges for exchanges, it has also brought with it increased trading volumes, which translates to stronger revenues.

As Finance Magnates reported , a number of exchanges reported solid trading volumes during the month of March fuelled by COVID-19 market volatility. In particular, Nasdaq posted first quarter 2020 net revenues of $701 million, an increase of $67 million, or 11 percent, from $634 million in the prior-year period, the firm said.

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