FMDQ Plans long-term financing for SMEs

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FMDQ Plans long-term financing for SMEs
Bola Onadele FMDQ CEO

The Managing Director/CEO of FMDQ Securities Exchange Plc, Bola Onadele, has disclosed that the exchange is working on strategies to allow Small and Medium sized Enterprises (SMEs) access long term funds in the capital market. He made the disclosure to market stakeholders during the CAMCAN 2020 annual workshop in Lagos, at the weekend.

Onadele who was represented by the Vice President, Market Architecture, FMDQ Securities Exchange, Jumoke Olaniyan, noted that the government needs to do all it can to ensure the recovery of the economy by Q1 2021 is feasible.

“What we have seen in recent times is that we have seen that the Nigerian economy can be very resilient and which is very critical or the foundation of any capital market. It is a situation whereby a capital market can be created to absorb the shock that it goes through and always recover quickly. Therefore, it is very good that there are indicators that we will recover in the first quarter of 2021 and that is testament to the resilience of the economy itself.

This means we have a very strong foundation but we really need to put building blocks to effect to make sure that we achieve that quick recovery and maintain that quick recovery in all facets of the economy and part of that building blocks involves the SMEs”, he said.

According to him, the private capital is an area that has grown significantly. “The World Federation of Exchanges statistics’ showed that within the last 10 years that the private capital market has grown by almost 25 per cent because they come as an important aspect of our capital which can be raised for various aspects of our economy.

 

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