ASHON backs African trading project as capital market hits 33% of GDP

The Association of Securities Dealing Houses of Nigeria (ASHON) has endorsed the African Exchanges Linkage Project (AELP), viewing it as a catalyst for accelerating cross-border securities trading and deepening capital market integration across the continent. Sehinde Adenagbe, ASHON's Chairman, urged African market operators and regulators to enhance collaboration during a recent AELP Broker Activation Webinar.

Adenagbe highlighted Nigeria's capital market's impressive performance, noting its current contribution of approximately 33% to the nation's Gross Domestic Product (GDP). He described the market as a key indicator of Nigeria's economic prospects. The successful migration to a T+1 trade settlement cycle has notably improved market liquidity, efficiency, and investor confidence. Nigeria's stock market has also emerged as the world's top performer at mid-year 2026, surpassing indices like South Korea's Kospi.

Furthermore, the enactment of the Investment and Securities Act (ISA) 2025 has significantly strengthened Nigeria's legal and regulatory framework. This legislation enhances investor protection, boosts market efficiency, and solidifies Nigeria's position as a leading investment hub in Africa. Adenagbe emphasized that the AELP presents a crucial opportunity to attract investment flows and foster regional economic development.

He identified several critical success factors for the AELP, including efficient cross-border settlement systems, robust regulatory cooperation, advanced technology infrastructure, strong cybersecurity measures, effective operational frameworks among brokers, and sound corporate governance. These elements are deemed essential for realizing the full potential of a unified continental securities market.

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The African Exchanges Linkage Project presents a unique opportunity to unlock investment flows and promote regional economic development.