The Nigerian Exchange Group Plc has partnered with the Bank of Industry to unlock opportunities for business growth for Small and Medium sized Enterprises in Kano State.
The collaboration speaks to the commitment to expanding access to finance and supporting the growth of small and medium-sized enterprises across Nigeria, particularly in regions with strong commercial potential such as Northern Nigeria.
At a one-day workshop tagged “UNLOCKING GROWTH – HARNESSING THE CAPITAL MARKET FOR SME GROWTH WORKSHOP”, the Chairman of the Nigerian Exchange Group Plc (NGX Group), Umaru Kwairanga, acknowledged Kano as a city with a proud legacy of commerce and enterprise.
Kwairanga, while reaffirming NGX Group’s unwavering commitment to supporting enterprise development across all regions of Nigeria, stated that “Kano provides a fitting backdrop for this engagement.
According to him “It represents both a longstanding commercial hub and a gateway to significant untapped potential. The opportunity before us is to connect that potential to the capital and structures required for sustainable growth.”
The NGX boss highlighted the importance of SMEs as being the backbone of most economies, being that they account for the majority of businesses and employment in most countries.
READ ALSO:NGX Ends Week Trading Session on High Note
He stated that while big conglomerates and multinational companies get the big headlines, it is SMEs that promote innovation, drive employment and economic growth, and provide the big enterprises with raw materials and distribution of finished goods.
“The natural instinct of human beings and businesses is to aspire to grow and so at some point, SMEs such as yours will aspire to grow bigger and stronger. To grow, you will require greater capital. I know that many of you for now rely on banks for such capital, but bank financing is usually short-term and expensive because of the structure of deposit liabilities that they rely on to finance borrowers. It is actually the capital market that offers long-term capital that matches the needs of entrepreneurs such as you. That is where the Nigerian Exchange Group comes in”, he said.
He said that the NGX Group recognises that enabling entrepreneurial growth requires more than just access to funding but also requires the right structures and platforms.
“Through our Growth Board, we have created a dedicated pathway for small and medium-sized enterprises and high-growth companies to access the capital market. The platform is designed to support businesses that may not yet meet the requirements of the Main Board, while still promoting transparency, governance, and long-term sustainability. It provides these enterprises with the opportunity to raise long-term capital, enhance their visibility, and position themselves for scale, ultimately creating a pipeline for the next generation of leading companies in our market,” Kwairanga said.
He further said that, as Nigeria aspires to become a trillion-dollar economy, SMEs must be at the centre of that journey, stressing that achieving these goals requires a shift towards more structured, transparent, and long-term approaches to financing.
The NGX boss highlighted a few of its major collaborations that are aimed at improving the ease of doing business, particularly for SMEs, saying that through strong partnerships and deliberate action, new opportunities can be unlocked and businesses strengthened, which would drive inclusive economic growth.