SecondSTAX and NGX unveil cloud-based portal for seamless African investment

SecondSTAX, a Ghanaian fintech, has announced a new partnership with the Nigerian Exchange Limited (NGX). The strategic alliance was officially announced at a product launch event held at the exchange. This marks a significant achievement in the company’s mission to promote economic growth and investment opportunities in Nigeria and across Africa.

The partnership, as stated in a report by The Punch will make it easier for licensed broker-dealers, asset managers, large commercial banks, and other institutional investors from across the continent to invest in the exchange via SecondSTAX’s transparent, easy-to-use, cloud-based portal.

The investors will be able to carry out transactions in their own native currencies, thus widening the spectrum of assets and opportunities accessible to a broader African audience, geared towards an efficient route towards accumulating wealth on the continent.

SecondSTAX said it has worked closely with Afrinvest (West Africa) Limited, a well-established capital market holding company in Nigeria. Afrinvest boasts a diverse portfolio that encompasses investment banking, securities trading, asset management, trustee services, consulting, and financial technology.

The partnership between SecondSTAX and NGX aims to significantly transform the financial landscape in Nigeria and throughout Africa. By combining SecondSTAX’s technological innovation with NGX’s established reputation as a leading stock exchange in the region, this collaboration seeks to create fresh opportunities for businesses, entrepreneurs, and investors. The goal is to make it easier for them to engage with and thrive within the dynamic African economy.

Key objectives and benefits of this partnership include:

1. Enhanced Access to Capital: SecondSTAX’s cutting-edge technology will provide Nigerian businesses with greater access to capital markets. This will enable them to raise funds efficiently and support their growth and expansion plans.
2. Increased Liquidity: NGX’s platform, coupled with SecondSTAX’s expertise, will enhance liquidity in the capital markets. This will create a more vibrant and dynamic trading environment for both retail and institutional investors.
3. Innovation and Efficiency: The collaboration will introduce innovative solutions and digital tools that streamline investment processes, making it easier for investors to participate in the market and for businesses to list and manage their securities.
4. Diversified Investment Opportunities: Investors will benefit from a broader range of investment opportunities, including access to previously underserved sectors and emerging businesses.
5. Market Education: SecondSTAX and NGX will work together to provide educational resources and training programs, fostering a better understanding of the financial markets among investors and businesses alike.

At the launch event, representatives from SecondSTAX and NGX shared their enthusiasm for the partnership and its potential to reshape the economies of Nigeria and Africa. They highlighted their dedication to fostering sustainable economic growth, creating jobs, and improving the overall prosperity of the people in Nigeria and across the continent.

The SecondSTAX portal is a tech-driven smart order management and execution routing system built for investment firms (i.e., licensed broker-dealers, asset managers, or institutional investors) to facilitate intra-continental African capital markets transactions. It is complemented by detailed News, Research, Data, and Operations systems providing an enriched workflow experience for investment firms.​