Rinchi
TechInAfrica – Oscar Onyema, the Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE) encourages local investors to embrace financial technology (FinTech). The statement he made during a FinTech forum in Lagos, Nigeria.
According to Onyema, the investment into the fintech industry continues to grow around the world that NSE planned to explore new technologies such as blockchain and Distributed Ledger Technology (DLT) for capital raise.
The growing interest in FinTechs is proof that the industry is important, especially in the Fourth Industrial Revolution. However, Onyema regretted that local investors do not see this as the opportunity to advance their investments.
“According to KPMG’s 2018 Global Analysis of Investment, equity investment into global FinTech companies almost tripled from $18.9 billion to $50.8 billion between 2013 and 2017 and has continued to gain traction. Surprisingly, foreign investors seem to be seeing these gains better than local investors as statistics show that they have dominated capital raise for indigenous start-ups in the last couple of years,” Onyema said.
One of NSE’s strategies in embracing FinTech investment flow is with the introduction of a Growth Board to cater to companies with high growth potentials as part of its market segmentation.
“This approach, in our opinion, would assist companies with high growth potential, leverage public finance for growth and expansion. FinTech offers the opportunity to deepen capital market activities and also achieve sustainable economic growth by empowering a larger portion of the populace to access financial services; unlock efficiencies in product and service delivery for financial institutions and increase transparency and resilience of the Nigerian capital market and larger financial ecosystem.”
Source: financialtechnologyafrica.com
