He said this when in recognition of the importance of the
partnership between MTN and NGX; he paid a courtesy visit to the management of
the Nigerian bourse, led by its CEO, Mr. Temi Popoola.
To mark the occasion, Mupita, was given the honour of
sounding the closing gong to indicate market closure for the day.
It will be recalled that last February, MTN and NGX
announced the signing of a Memorandum of Understanding (MoU) to further promote
financial literacy and enhance retail participation in the Nigerian capital
market.
The announcement was made at a signing ceremony led by Mr.
Popoola and the CEO, MTN Nigeria, Mr. Karl Toriola.
The MoU was a two-year partnership that would see NGX and MTNN
collaborate to develop capital market solutions, leverage technology to support
data dissemination and technology-as-a-service, promote capacity development
and eliminate barriers to retail participation in the capital market.
Commenting on the partnership, Mr. Popoola commends MTN for
its unwavering efforts in advancing Nigeria’s technology landscape through
substantial investments in infrastructure and digital transformation.
According to him, “We are proud to acknowledge the
advancements made through the successful public offering in 2021 and the MoU
signed last year. These initiatives have successfully attracted a notable
portion of the younger generation to the capital market, aligning with our goal
to increase retail participation.
“I would also like to specially acknowledge the efforts of
the financial advisers on the landmark offering led by Chapel Hill Denham. We
are optimistic about the prospects of a mutually beneficial partnership with
MTN that will reinforce the Nigerian economy and foster sustainable growth for
the African continent.”
According to Mupita, within a year of signing the MOU, a lot
has been achieved due to the hard work invested on both sides in forging and
sustaining a productive partnership: “At MTN, we believe we have a responsibility
to ensure that our customers not only stay connected but can access increasing
value and better services through our network, deepening their participation in
the digital economy.
“Our collaboration with NGX gave us the opportunity to
empower our customer base with the tools and knowledge to engage effectively
with the capital market and meet their financial and investment objectives.
“For this, NGX deserves to be commended for democratising
access to financial securities, and thereby empowering more Nigerians.”
On his own part, MTNN CEO, Mr. Toriola said: “We will
continue to identify other areas of cooperation with NGX and we look forward to
a continuous mutually beneficial partnership that will contribute to the
inclusive growth of the Nigerian economy.”
The courtesy visit is also coming on the first anniversary
of the completion of its landmark public offer in Nigeria, which was completed
on January 31st 2022. Widely applauded
as the first public offer to be conducted via a digital platform in Nigeria,
the offer expanded MTN Nigeria’s domestic shareholder base to include 126,720
retail investors alongside a range of institutional investors, including
Nigerian pension funds representing approximately 6.5 million Nigerian
contributors.