Nigerian Exchange Limited (NGX), also known as The Exchange, has set up the Digital and Technology Products Advisory Panel as its means of advancement in the digital transformation world.
The panel consists of innovators and investors – CEOs and founders of tech startups that have massively impacted African society. Iyin Aboyeji (Future Africa); Kola Aina (Ventures Platform); Idris Saliu (Ceviant); Fope Adelowo (Helios Group) are included in the panel.
Others are; Tope Kola-Oyeneyin (McKinsey); Richmond Bassey (Bamboo); Tayo Oviosu (Paga); Wale Ayeni (International Finance Corporation); Ahmad Zuaiter (Jadara Capital Partners LLC) and Adedeji Olowe (LendsQr).
NGX said it recognises the potential of diverse viewpoints and aims to leverage the extensive networks of experts across the budding technology ecosystem and the capital market in designing breakthrough frameworks to position itself for global competitiveness.
Panel members were urged not to limit their responsibilities to implementing ideas that will enhance the innovative ways for product promotions and technology to increase listings on NGX. But also, they should recommend boosting data tactics that will be useful in the digital market liquidity.
They were enjoined that their responsibilities are achievable through capacitated thought leadership willing to develop whitepapers, create frameworks and make recommendations in consultative matter trends like markets, risks and sentiments.
“Technology and innovation are the driving forces of progress, and at NGX we are committed to leveraging both to transform the Exchange into a leading force of product development in the capital market,” says Dr Olufemi Oyenuga, Chief Digital Officer, NGX.
Furthermore, he added that “With the establishment of the committee, we are poised to explore new frontiers, pool groundbreaking ideas and strategies, unlock exciting opportunities for the future addressing creativity, innovation and sustainability.”
Last December, the Securities and Exchange Commission (SEC) approved the rules for listing Nigerian startups of the newly created Technology Board of the Nigeria Exchange Limited (NGX), in what was touted as a game changer for the Nigerian tech ecosystem.
The NASDAQ-style Board “would support the listing of startups on the Exchange as they endeavour to satisfy their financing needs, both those created in Nigeria and those from other African nations,” Temi Popoola, CEO of NGX, said in a statement.
The panel’s creation is to continue the processes for expanding NGX capacities in the technology ecosystem.
NGX, the sustainable exchange championing Africa’s development, also acknowledges the increase in youth participation by creating digital asset products powered by Blockchain technology, non-depository receipts and extensive networks of experts across the budding technology ecosystem.
It is also important to acknowledge its consistency in designing breakthrough frameworks to position itself for global competitiveness.
Impact of including innovators NGX’s digital and Technology Products Advisory Panel
The Nigerian government has adopted a policy of including private individuals with experience in the tech space when making decisions that affect the tech ecosystem. This approach was adopted in the drafting of the Nigerian Startup Act. In a recent interview with TechNext, Victor Famobude, the Act’s Project Manager, said that players in the ecosystem participated in focus group sessions to include their input.
“So we brought everybody- government representatives and players in the ecosystem- together and started formulating the bill. We held focus group sessions with stakeholders to get their input and town hall meetings across the country’s six geopolitical zones,” he said.
The NGX adopts a similar approach by including experienced players in the NIgerian tech ecosystem in the newly constituted panel. The input of players like Iyin Aboyeji, who helped build Andela and Flutterwave; and Richmond Bassey, the CEO and co-founder of Bamboo – a platform that has helped many Africans invest in global opportunities, will be invaluable to the success of NGX’s plans.
Kola Aina, an investor who is a founding partner at Ventures Platform with vast experience working in Africa’s most significant economical market, took to social media to express his honour at being selected as a board member.
“I look forward to the progress we might make in advancing the place of our technology startup ecosystem in our local capital markets,” his tweet read.
Read More; What’s next for Nigerian startups now that they are getting listed on the capital market?
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