Nigeria Stock Exchange, Lagos
Rand Merchant Bank Nigeria (RMB) has unveiled plans to float a bond programme that will be listed on the Nigerian Stock Exchange (NSE) this 12 months.
The bond, which is already registered with the Securities and Exchange Commission (SEC), is a part of the bank’s collaborative efforts with NSE to come out with kinds of funding choices that may be listed on the bourse.
The Chief Executive Officer of RMB Nigeria and Regional Head West Africa, Michael Larbie disclosed this on Wednesday on the closing bell ceremony of the bank’s fifth anniversary and official launch of the RMBN Stock Brokers on the NSE.
He stated: “It’s been an fascinating journey doing enterprise in Nigerian market and similar to each growing financial system has its personal challenges, you have got to navigate your means by way of. We have navigated our means by way of in some, however we now have been in a position to work with our client to proceed to progress in what they do and alongside the road progress in our personal enterprise.
“In the last five years, we have been lucky and progressive, but it is never easy in an emerging market. Things are always never perfect, but since we are making some progress directionally, we can hang our heart on it and try and drive some businesses around it”.
Larbie, whereas talking to journalists, defined that creating extra merchandise like derivatives, securities lending, choices on shares would assist deepen the market, improve transaction quantity and appeal to extra funding into the market.
He also stated that the emphasis on corporate governance, which knowledgeable the choice to create a premium board on the change, would additional increase buyers’ confidence available in the market.
He expressed optimism that the capital market would proceed on a constant development trajectory, urging buyers to leverage alternatives within the Nigerian marketplace for a most funding returns.
“We hope that we'd proceed to do extra for our purchasers and would have executed among the offers that we now have on the pipeline.
We need to be seen as a trusted service provider bank within the Nigerian market; we wish our purchasers to come to us as an establishment they will belief and one that may assist them assume by way of difficult points that they're grappling with.
“A rustic of this dimension with development fundamentals is arguably the most important financial system in Africa and it's not a market to ignore.
It has basic constructing blocks for development and with a little bit management and steerage. So, I don't see why the most important financial system shouldn't do nicely.
“In phrases of funding, usually, it's attempting to present that Nigeria funding over time has executed pretty nicely, so I feel buyers which might be on the lookout for a long run first rate returns, that is the market to play and that's the reason as a bank, we proceed to put money into Nigeria.
“We would continue to build our business and those foreign direct investment coming in will increment our capital and I think over time we remain optimistic on Nigerian economy,” he additionally stated.