Capital market, viable funding source for SMEs – NSE

The Nigerian Stock Exchange has described the capital market as a viable source of funding for Small and Medium Enterprises, saying it continues to support the growth and development of small businesses in the country.

It said in a statement that the most recent of these efforts was the webinar it hosted on Wednesday, with the theme ‘Capital raising for SMEs through the stock exchange’.

The NSE said the webinar was hosted in collaboration with various trade groups/chambers of commerce in the Northern region of the country, and was headlined by the President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Hajia Saratu Iya Aliyu.

Speaking at the event, the Divisional Head, Listings Business, NSE, Mr Olumide Bolumole, said, “The traditional role of The Exchange as a platform for capital formation and liquidity holds good promise for businesses.

“Despite the impact of COVID-19, the NSE functioned to facilitate needed financing with over N2.5tn in capital raised by governments and corporates in 2020 across various asset classes.”

On her part, the NACCIMA boss commended the National Council and management of the NSE for organising the webinar.