SecondSTAX has announced a new partnership with the Nigerian Exchange Limited (NGX) that will enable institutional investors from across Africa to directly invest into Nigeria’s capital markets.
SecondSTAX is a technology company that is building solutions to enhance intra-Africa capital and investment flows.
The new partnership was established in close collaboration with Afrinvest (West Africa) Limited. It is capital market holding company in Nigeria active in six principal areas: investment banking, securities trading, asset management, trustee, consulting and financial technology. This joint effort will make it easier for licensed broker-dealers, asset managers, large commercial banks and other institutional investors from across the continent to invest in Nigeria’s premier exchange via SecondSTAX’s cloud-based portal. Investors will also be able to invest in their native currencies, making a wider range of assets and opportunities available to more Africans and creating an efficient route to increased wealth on the continent.
SecondSTAX is building technology solutions for investment firms that will power the seamless flow of capital and institutional investment across the continent, and it is consolidating all debt and equity capital markets throughout Africa. The platform facilitates transactions by securely and efficiently routing orders onto existing mature capital markets infrastructure in complete compliance with local regulations. As a result, African investment firms are empowered to do more for their clients and have the opportunity to earn more for themselves.
The company already has partnerships with the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE), driving investment into these exchanges from across the continent. Along with new investment opportunities into Nigeria’s capital markets, this partnership will also make it easier for institutional investors from Nigeria to invest into other capital markets that are available on the SecondSTAX platform. Following the NGX launch, access to the service will initially be restricted to Qualified Institutional Investors who are able to place minimum trade orders of USD 10,000.00 (or the equivalent value in NGN).
According to Eugene Tawiah, CEO and co-founder of SecondSTAX, “Our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with the Nigerian Exchange Limited represents a major milestone on our journey. Nigeria’s capital markets are full of lucrative opportunities that have until now been out of reach to institutional investors outside the country. At the same time, Nigeria’s institutional investors have largely found it challenging to invest into other capital markets across the continent. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”