By Aduragbemi Omiyale
It is a fact that the Nigerian capital market is largely dominated by people in their 40s and above, with millennial investors preferring to place their funds in foreign exchange (FX), cryptocurrency and the like.
For these young investors, the stock market and others are for old people and that gives capital market participants cause to worry.
On Tuesday, March 15, 2022, the Nigerian Exchange (NGX) Limited, in conjunction with Bamboo Invest and Africa Prudential Plc, hosted a webinar tagged Increasing retail participation through digitalization.
The objective of this event was to highlight opportunities for growth in retail investor participation in the Nigerian capital market.
speaking on Understanding millennials in the capital marketBamboo Invest COO Ms. Yanmo Omorogbe said young investors can be attracted to the capital market if certain things are in place.
“Millennial investors are interested in companies with great fundamentals and compelling stories, companies that inspire consumers to rethink their behavior, and companies that are building the next set of critical digital infrastructures,” he said. she told the attendees.
In his presentation, the Head of Capital Markets Division at NGX, Mr. Jude Chiemeka, highlighted the efforts of the exchange to increase the participation of retailers in its ecosystem.
“Retailer participation in the capital market has continued to soar across the globe over the years and this growth can be attributed to a number of factors including technological advancements and digital innovations.
“NGX has leveraged these global trends to increase retailer participation in Nigeria by introducing inclusive financial products and technology to deepen the Nigerian capital market.
“In 2017, the stock exchange collaborated with the Debt Management Office (DMO) to launch the FGN Savings Bond aimed at enhancing the savings culture among Nigerians while providing all citizens, regardless of or their level of income, the possibility of contributing to national development.
“NGX has also launched X-Mobile, a dynamic and user-friendly mobile application designed to enhance investor participation in the Nigerian capital market. We will continue to work with organizations with proven and reliable technology solutions to adapt digital trends and high-potential technologies to attract retail investors.
NGX continues to address the growing need for increased retail participation in the marketplace through its products and services, advanced advancements in the use of technology, and more frequent engagements across touchpoints. .