Unlocking Access to the Nigerian Capital Market for Technology Companies: The NGX Technology Board Listing Rules in Perspective

The Nigerian technology sector has grown significantly in recent years, contributing over 20.32% to the country’s GDP in Q3 of 2022. Despite this growth, technology companies have mostly relied on private funding, which comes with challenges such as a slowdown in venture capital funding and difficulties in obtaining loans. To address these challenges, there is a need to position the Nigerian capital market as a viable alternative to privately sourced funds, and to provide an alternative exit strategy for early-stage and existing investors. This newsletter explores the state of the Nigerian capital market and its interaction with the technology sector. It also discusses the potential of the Nigerian Exchange Limited’s (NGX) Technology Board Listing Rules to unlock access to the Nigerian capital market for technology companies.


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