Proshare, NASD form strategic partnership to boost Nigerian financial market
Proshare , Nigeria's premier Economic and Financial Information Hub and NASD Plc , the securities exchange for unquoted public companies, today announced a landmark partnership aimed at communicating the activities and developments of the NASD OTC market towards fostering transparency, education and growth.
Following the launch of Proshare 10.0 Phase 1 project on February 29, 2016, a hub designed to have a direct linkage between markets, businesses, technology and the economy; partnering with other exchanges that make up the Nigerian Financial Market became essential. This partnership will thus combine the professional expertise of NASD Plc with Proshare's investor education and enlightenment methodologies to boost the activities of the OTC market and in return the Nigerian Financial Market.
The partnership will focus on three broad areas viz the development of a dedicated page for the OTC Market to enhance data backed engagement; the education of Proshare's team to deliver independent analysis that can be translated to pricing information; and the deployment of communication strategies to increase the attraction of the NASD OTC exchange to new type firms.
Commenting on the announcement, Mr. Olufemi Awoyemi, the Founder/Managing Director, Proshare Nigeria, said 'This partnership is critical to our mission of making information readily available to investors to enhance intelligent investing. As investors become more sophisticated and desire alternative investment schemes in an economy technically heading towards recession, investors can now be rest assured of independent analysis that would further enable them make informed investment decisions'.
In addition, Reshu Bagga, Technical Director/Chief Operating Officer of Proshare Nigeria asserted that this move would see Proshare host a dedicated page for the OTC market within its platform and then a development of investor relations pages for the individual securities trading on the exchange. According to her, this would boost investor's confidence in trading OTC Market securities.
While we progress on integrating other markets into one hub - Proshare Markets for easy information access to the investing community, Proshare remains committed to provide credible, reliable and timely information while we seek to enlighten, educate and empower our users.
PROSHARE Nigeria, founded in December 2006 as a niche news and analysis service has since grown to become Nigeria's No#1 Financial Information Hub; with key focus on markets, business, personal finance, economy, start-ups, technology and regulation. Its remit and key proposition is the delivery of a service that is credible, reliable and timely.
Proshare's strength lies in its professional expertise, integrated approach, dedication to fact-based interventions and a commitment to subscriber/user engagements. This attributes have been acknowledged by both the local and international community, sometimes through multiple awards received which include the CFI.co “Best Capital Markets Solutions Team – Nigeria 2014”, the Nigeria-British Chamber of Commerce (NBBC) Rising Star Award for 2014 and the International Finance Magazine (IFM) “Most Innovative Capital Market Service Team, Nigeria 2015”; amongst others.
NASD PLC is the promoter of a trading network that eases secondary market trading of all securities of unquoted public companies primarily in Nigeria but with a focus on the West African region. Its intention is to stimulate growth by easing the capital raising process. Thus, NASD Plc brings together all stakeholders in capital flows to a common environment where interactions are safe, efficient, transparent and appropriately priced.