The Group Managing Director/Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola, has positioned capital markets as a critical lever for unlocking inclusive growth in Nigeria–Brazil relations, underscoring the role of exchanges in connecting small and medium-sized enterprises (SMEs) to financing and cross-border opportunities.
Speaking at a high-level business session during President Bola Ahmed Tinubu’s state visit to Brazil, Popoola emphasised that the future of bilateral trade will depend on the ability of both countries to create enabling pathways not just for large corporates, but for SMEs and innovative entrepreneurs.
“Exchanges are no longer platforms for only the large corporations. The growth of our economies depends on SMEs, and we must design financing structures that serve them,” Popoola stated, adding that NGX has been proactive in lowering entry barriers for smaller companies through its Growth Board, while also expanding alternative financing mechanisms such as crowdfunding, receivables financing, and private markets.
Popoola also outlined NGX Group’s broader role as a bridge for cross-border capital flows, noting that Nigeria offers one of the most open and digitalized investment landscapes in emerging markets. “It is easy to invest in Nigeria. With no capital controls, strong digital intermediaries, and increasingly integrated African markets, we present a compelling opportunity for Brazilian investors,” he said.
His remarks reflected a forward-looking agenda for Nigeria–Brazil relations, focused on channeling capital into SME-led sectors such as agriculture, technology, and services. This was reinforced by the signing of an MoU between Nigeria’s Bank of Agriculture and Brazil’s National Bank for Economic and Social Development (BNDES) to strengthen agricultural financing and investments.
Popoola also pointed to NGX Group’s role in African economic integration, referencing initiatives such as the African Exchanges Linkage Project and NGX Group’s investment in the newly established Ethiopia Stock Exchange, aligned with the African Continental Free Trade Area (AfCFTA).
“With Brazil as Latin America’s largest economy and Nigeria as Africa’s largest, the potential for cooperation is immense. Capital markets are the bridge that can connect our SMEs, investors, and innovators to this opportunity,” Popoola concluded.
President Tinubu’s visit, accompanied by ministers and business leaders including NGX Group, marks a significant step toward redefining Africa–Latin America economic ties and expanding trade beyond traditional sectors into inclusive, innovation-driven growth.
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