The Nigerian Exchange Group (NGX Group) is stepping up its push for international capital by courting investors in Hong Kong and encouraging Chinese companies operating in Nigeria to consider dual listings on the Nigerian Exchange. The move is aimed at strengthening ties between Nigeria’s capital market and Asia while creating fresh opportunities for businesses seeking funding for expansion.
NGX Group Chairman Umaru Kwairanga led a delegation to Hong Kong for high-level meetings with major financial institutions, including InvestHK, Bank of China International (BOCI) and Hong Kong Exchanges and Clearing (HKEX). Discussions focused on building stronger Nigeria-Hong Kong capital market connections, improving Nigerian companies’ access to Asian investors and creating opportunities for Chinese businesses with significant Nigerian operations to raise funds locally.
A key part of the discussions was the growing presence of Chinese companies in Nigeria, particularly in sectors such as construction and mineral resources. Kwairanga encouraged companies with substantial operations and sufficient scale to explore dual listings on the NGX, which could give them access to local capital while allowing Nigerian investors to own stakes in businesses contributing to the country’s economy. The NGX said it is prepared to support companies interested in exploring the process.
The delegation also proposed the creation of a formal Nigeria-Hong Kong capital corridor, alongside a joint listing-readiness programme involving NGX, InvestHK and BOCI. The proposed initiative would help Nigerian companies understand international listing requirements, including corporate governance, financial disclosure, investor relations and investor engagement. Kwairanga also called on Hong Kong financial institutions to consider establishing representative offices in Lagos to strengthen trade, financing and investment flows between both markets.
The Hong Kong engagement comes as the NGX continues its wider campaign to attract foreign capital into Nigeria’s financial markets. The exchange has previously engaged investors in the Middle East and highlighted major potential listings, including the planned Dangote Refinery IPO, as opportunities for international investors. The renewed push is particularly significant as foreign participation in the NGX weakened in May, with foreign transactions falling 25.9% month-on-month to N183.61 billion. By building stronger links with Asian and other international investors, the NGX is seeking to reverse that trend and position Nigeria as a more attractive destination for global capital.
source: nairametrics
