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Stakeholders urge fintechs to explore funding at NGX

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Stakeholders urge fintechs to explore funding at NGX

01 Dec, 2021

Vice President Yemi Osinbajo has stated that there is a need for the Nigerian Exchange Limited (NGX) to woo financial technology (Fintech) firms raising capital beyond the shores of the country to the nation’s bourse to deepen the market.Osinbajo, who spoke at the 2021 Capital Market Conference, held in Abuja yesterday, expressed concern about the inability of Fintech companies and start-ups to access funds from the capital market.

He said the sustainability of Nigeria’s Fintech ecosystem would require existing and emerging financial services startups to have access to the capital market.According to him, attracting the fintech unicorns to the market as a viable option for capital raising would give more investors the opportunity to benefit from the growth of these companies and create wealth for the economy.