Consul-General Sounds Gong, Says More French Companies To List Shares On NGX
Caption: From left, Adebayo Opatade, Chief Finance Officer, Nigerian Exchange Limited (NGX); Jude Chiemeka, Divisional Head, Capital Markets, NGX; Ms. Laurence Monmayrant, Consul General, France Consulate, Lagos; Usman Mohammed, Chairman, Franco-Nigerian, Chamber of Commerce and Industry; Irene Robinson-Ayanwale, Divisional Head, Business Support Services/General Counsel, NGX; Dr. Olufemi Oyenuga, Chief Digital Officer, Nigerian Exchange Limited (NGX); during a Closing Gong Ceremony for the Franco-Nigerian Chamber of Commerce and Industry, in honour of the French Consul General, Lagos on Tuesday, May 23, 2023 in Lagos.
In a bid to promote trade between France and Nigeria, the French Government says it will continue fostering economic and investment ties with Nigeria, while working with the Nigerian Exchange Limited (NGX) to have more brands listed on its platform in the coming year.
Speaking at a Closing Gong ceremony for the Franco-Nigerian Chamber of Commerce and Industry, in honour of the French Consul General in Lagos on Tuesday, the Consul General of France in Lagos, Ms Laurence Monmayrant, who disclosed this said the Franco-Nigeria Chamber of Commerce is pleased with the Exchange’s role in sustainability and finance which corresponds with the chamber’s values.
According to her, “we are very interested in the work that you are doing because the stock exchange is a catalyst of attracting investments to Nigeria and this is really something we are working on also.
“Currently, the Franco-Nigerian chamber has over 400 members and among them, are 100 French companies and also Nigerian companies having a strong interest in France and this is really our job to foster these economic ties between France and Nigeria.”
Continuing, she said “France may not be the first country in mind when it comes to business and investments in Nigeria, but we have made a lot of progress and achievements.”
President Emmanuel Macron of France, she continued, values the relationship with Nigeria, which is why the country has “nearly $10bn invested from French companies in Nigeria and have grown over the last few years. Nigeria currently attracts 60% of French foreign direct investments (FDIs) in West Africa”.
According to her, “we want to continue to work on this and we think that French companies will continue to show interest in Nigeria.”
Monmayrant on her part, stated that Chiemeka further thanked the French delegation and reiterated that the Exchange will continue to promote an enabling platform where corporates and individuals can meet their objectives.
Welcoming the Consul-General and her team earlier, the Divisional Head, Capital Markets, NGX, Jude Chiemeka, said that the Exchange is particularly interested in forging a relationship around the 100 companies that are French companies operating in Nigeria as the NGX is known to house over 153 listed companies and has 232 trillion license holders.
Chiemeka noted that the NGX sees itself as the African hub for corporates seeking to raise capital and for investors looking for investment instruments to help grow their wealth.