Nigerian Stock Exchange (NSE) has expressed its readiness to provide a platform for artists and promoters in the Nigerian and African entertainment industry to raise long-term funds to boost the growth of the industry.
Its Chief Executive Officer, Mr. Oscar Onyema, who spoke at a Music Week Africa event hosted by the Exchange in Lagos, said substantial capital is required for the music industry to achieve its potential in Africa.
He said the NSE has positioned itself as the African Exchange of choice for African issuers and global investors looking to use capital markets to raise both equities and debt capital.
“Globally, long term growth is often achieved through public quotation on an Exchange. We believe that this growth and more can only be achieved by having companies in the entertainment industry listed on the Nigerian Stock Exchange. As Nigeria’s foremost Exchange we are certain that we are well positioned to help your industry achieve its full potentials, as well as reduce the cost of raising capital and building infrastructure to be globally competitive,” Onyema said.
He said the Exchange would continue to support the event that seeks to explore and develop the various aspects of the African and global music industry, with a view to creating jobs and wealth accumulation through the capital markets.
According to him, with a total market capitalisation of N15.7 trillion across all of product categories, the NSE has implemented far-reaching transformational policies aimed at strengthening and providing products that are aligned to investors’ requirements, improve market access, while ensuring a fair and orderly market.
He noted that these deliverables have improved investor confidence and repositioned firms listed on the Exchange as attractive investment opportunities, urging the entertainment industry to look seriously at leveraging the opportunities that abound in the capital market.
“We are, particularly, proud to partner with Music Week Africa to promote the business of music and accelerate the growth of this sector in Africa. The Music Week Africa platform provides opportunities for sector players, investors and collaborators to close deals, network, connect as well as increase their capacity to develop profitable and sustainable business models for the music and entertainment industry on the continent,” Onyema said.