Aladekomo urges NSE to partner tech companies

The Chairman, SmartCity Resorts Plc and Advisory Board member, TechPlus, Sir Demola Aladekomo, has implored the management of the Nigerian Stock Exchange (NSE), to partner with indigenous technology firms and encourage them to be listed on the Exchange.

Aladekomo made the appeal when he led the leadership team of TechPlus to the NSE to ring the bell at the close of trading on Monday, noting that technology has the power to change lives and economic fortune.

He said the efforts of tech start-ups need to be supported in order for Nigeria to able to create the vast amount of wealth needed for the country.

According to him, the richest companies in the world are technology companies, and it is the tech start-ups who possess the biggest potential growth in the country, not the long-established companies that the exchange management are currently courting.

“Of the nine richest men in the world, six of them are into technology. The first, third, fourth, fifth, sixth and ninth richest persons in the world are into technology. The richest and largest companies in the world are mostly all technology companies. The mega billions are not going to come from the current companies you are targeting, they are going to come from the start-ups and technology related firms. If you are going to get the next set of billionaires in this country, not just in Naira but in dollars, it’s going to come from the efforts of the start-ups and current firms in technology,” he
said.

Advocating for collaboration between the NSE and TechPlus, Aladekomo said TechPlus has one of the biggest technology platforms in Africa, which can become the future enabler of the country’s economy if well harnessed.

He said: “Of all the platforms we have in the country today, even on the continent of Africa, apart from the one in Rwanda, TechPlus is about the largest platform we have in Africa today that can increase the wealth of our nation.

“What I seek from the management of the NSE is a close partnership and a close relationship with TechPlus. We would like to strategically partner with you, to be with us at our events and interact with our young guys. This is the future and we are giving you the future. You coming in and working with us will make a lot of difference.”

Responding, the Executive Director, Market Operations and Technology, NSE, Ade Bajomo, said the Exchange, in recognising the role and impact of technology, has employed a significant usage of it into its market operations. He expressed delight with TechPlus for its performance, and said the NSE would provide a scope of partnership and support for the tech start-up company.

Bajomo said: “We know technology is an enabler. We do several things in the exchange, we regulate the market but we cannot do all of these without employing technology. We have also brought in significant use of technology into the market as within our ecosystem.

If you look behind the scenes, what you would see behind the scenes is actually technology driven the market.

“We are really delighted about what you guys are doing. We know this is the starting phase, but we are extremely encouraged about how youhave started and in any way that you need support; we will be very delighted to support you. We will certainly have a lot of scope in terms of collaborating further and finding innovative financial means to raise capital for those entrepreneurs,” he stated.