Capital Market

Africa Plus Partners Lists Carbon Mitigation Fund On NGX

Published

2 months ago

January 28, 2023

Africa Plus Partners Lists Carbon Mitigation Fund On NGX

Africa Plus Partners – Closing Gong Ceremony in commemoration of the Memorandum Listing of its Africa Infra Plus Fund

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) announce Tuesday the listing of a N20.5bn closed-end infrastructure fund, Africa Infra Plus Fund (AIPF I) on the Exchange.

Co-managed by Africa Plus Partners Plc, and Capitaltrust Investments & Asset Management Limited, AIPF 1 is Nigeria’s first Carbon+ (ESG-focused) naira-denominated infrastructure fund to be listed on the Exchange.

The listing is another significant move towards championing sustainable investing in Africa and the event was commemorated with a Closing Gong Ceremony.
AIPF 1’s structure is a pool of equity and quasi-equity investments in Carbon+ infrastructure projects that promote sustainable development including but not limited to roads, power, water supply, wastewater management, ports, and airports.

The Fund also acquires the shares and other investment instruments issued by socially responsible entities carrying on infrastructure business or executing infrastructure projects exclusively.

Commenting on the development, the Chief Executive Officer, NGX, Mr. Temi Popoola, stated that, “today’s listing marks a significant milestone in our commitment to promoting sustainable investing and reducing the drivers and impact of climate change. We are proud to be at the forefront of this and look forward to more exploits as we drive growth in the capital market.”

Speaking to members of the media, Africa Plus Partners Chairman, Anhad Narula said, “This is a sustainable infrastructure fund that specialises in carbon-mitigating infrastructure investments. The fund, whose investors include ordinary Nigerians via their pension fund administrators, is committed to investing in sustainable infrastructure businesses that align with the global energy transition and move towards cleaner sources of energy and efficiently run, sustainable infrastructure and utility services.”

On his part, the Managing Director, Africa Plus Partners Plc, Mr. Adeniran Ajakaiye, stated, “With this listing, we aim to demonstrate the highest levels of good governance and transparency, as we continue to deliver active returns to shareholders, whilst addressing Nigeria’s ‘missing middle’ infrastructure gap.”

AIPF aims to address the imbalance between the need for infrastructure development and the concerns about environmental and social impact by investing in projects that meet strict ESG criteria.

The listing of the fund on NGX is a clear indication of the growing interest and demand for sustainable investing in Africa and the Exchange’s commitment to the same.

NGX also plans to launch an Impact Board to further give visibility to sustainable financial instruments listed on The Exchange and to encourage more listings in the sustainable finance segment as part of its sustainability drive for the capital market.

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Capital Market

NGX Group To Celebrate 2023 International Women’s Day 2023, Ring Bell For Gender Equality

Published

4 weeks ago

February 22, 2023

Business Echo Magazine

NGX Group of Companies 2023 International Women's Day and Ring the Bell for Gender equality

Olushola Okunlade Writes

NGX Group of Companies plans to celebrate 2023 International Women’s Day and Ring the Bell for Gender equality.

NGX Group of Companies recognises that investing in women’s empowerment in the workplace, marketplace, and community is of strategic importance to business growth and sustainability.

For this reason, NGX Group has chosen to celebrate IWD as part of the global UN SSEI event hosted by over 80 securities exchanges in collaboration with the UN Global Compact, UN Women, IFC, and WFE (the “Global Partners”).

The theme of this year’s celebration is ‘Embrace Equity’ and it seeks to celebrate women’s achievements, raise awareness about discrimination and take action to drive gender parity. To this end, our 2023 IWD celebration would build on the global theme, Embrace Equity.

Date: Wednesday, 8 March 2023
Time: 1:00 pm – 2:30 pm (WAT)
Venue: Zoom & Live streamed on YouTube

Participants are to register to attend: bit.ly/ngx-iwd-2023

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Capital Market

Domestic Investors Shun Risks, Stocks On 5-Month Rally

Published

4 weeks ago

February 22, 2023

Business Echo Magazine

Domestic Investors Shun Risks, Stocks On 5-Month Rally

Olushola Okunlade Writes

Few days to go before Nigeria’s highly anticipated general elections, domestic investors in the local bourse are scooping up positions in stocks, shunning potential risks from the impacts of voter’s choices.

Nigerian Exchange Limited (NGX) All-Share Index (ASI) is up 5.80% already in 2023 as of market close on 20 February 2023, maintaining a bullish run from September 2022. Data from NGX revealed that this has been a result of the outsized participation from domestic investors, who currently occupy 84% of total transactions conducted on the Exchange.

Foreign participation in the local bourse has so far moderated in recent years due to issues around forex liquidity and monetary policy, placing their turnover at 16% according to the December 2022 edition of the Domestic and Foreign Portfolio Investment Report of the Exchange. Analysts have commented that this is in due part a result of unimpressive yield in fixed-income securities, pushing investors to buy up fundamentally strong stocks with attractive dividend yields.

Historically, the market has typically experienced volatility during election season with some notable years, particularly the 1999 election – which saw change from military rule – and 2015 election – which saw the first incumbent defeat at the polls – experiencing declines pre-election. The positive domestic investor sentiment, according to analysts, has been driven mostly by strong earnings releases and dividend payouts announced by companies in the wake of earnings season. However, some have advised cautious trading as the 2023 elections approach but maintained their positive outlook on dividend yields and capital appreciation in bellwether stocks.

An analyst with Parthian Securities, Azeezat Awonuga, whilst commenting on the market with CNBC Africa said that investors are poised to hunt for gains in the stock market as the fixed income yields have moderated in recent times. “As we anticipate earnings from the banking sector which comprises about 60% of the volume in the market and also form the bulk of the fundamentals, positive earnings will push investors to plow more funds into the market,” she stated.

Another investment research analyst from Investment One Capital Management Limited, Akosile Oluwasanmi noted to Channels that uncertainties around the elections and the cash crunch in the economy could dampen investor sentiment into taking profits but positive corporate earnings could also see investors increasing their positions.

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