- Cutting the cost of Africa’s energy transition with the right flexibility mix - Kenneth Engblom Vice President, Wartsila Energy, Europe and Africa
- Ghana International Bank announces Ian Greenstreet as its new Chief Executive Officer
- Building Digital Financial Systems and Accelerating Banking Modernization in Emerging Markets
- Trust is infrastructure. And Africa’s fintech reckoning proves it - Salvador Anglada, Optasia Group CEO
- Africa’s cement industry and the push for energy security - Krzysztof Lokaj, Wärtsilä Energy Africa Development Manager
Nigeria Starts Stock Lending With 20.8 Million Shares Available
LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange started lending and borrowing of shares as it seeks to reignite liquidity in Africa’s third-biggest bourse by listings.
A combined 20.8 million shares are available, with Guaranty Trust Bank Plc, the nation’s biggest lender, providing 8.4 million, according to a statement on the Lagos-based NSE’s website.
Nigeria’s Securities and Exchange Commission last year announced plans for securities lending, short-selling and hedging to attract inflows. Trading volumes on the 155-member main-board index declined 21% in 2019, according to the NSE.
Presco Plc proposed lending 4 million shares, while MTN Nigeria Communications Plc, the local unit of the Johannesburg-based wireless carrier, is offering borrowers 2.4 million shares. Dangote Cement Plc wants to lend 1.7 million shares, according to the exchange.
Source: Bloomberg Business News