NSE CEO Oscar Onyema talks on Nigeria's green bonds
Investors, capital market operators, and government officials met today for the first ever green bonds conference in Nigeria. CNBC Africa spoke to Oscar Onyema, CEO Nigeria Stock Exchange to shed more light on this.
Thu, 23 Feb 2017 14:31:43 GMT
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AI Generated Summary
- The Nigerian government's support for the green bonds initiative, following the success of the recent euro bond offering, sets the stage for the country's entry into the green bond market.
- The collaboration among stakeholders, including regulators, partners, and market participants, in developing the framework and rules for green bonds underscores the concerted efforts to establish a robust and transparent market.
- Nigeria's aim to launch the first sovereign green bond in Africa reflects a strategic approach to drive sustainable finance, attract institutional investors, and position the country as a leader in green finance on the continent.
The Nigeria Stock Exchange recently hosted a conference that brought together investors, capital market operators, and government officials to discuss the country's green bonds initiative. The event saw the presence of acting President Yemi Osinbajo, highlighting the importance and support the government has placed on this initiative. In an interview with CNBC Africa, Oscar Onyema, the CEO of the Nigeria Stock Exchange, shared insights on why Nigeria is investing in green bonds now and the progress made towards the issuance of the first sovereign green bond in Africa. Onyema emphasized the success of Nigeria's recent euro bond offering, which was oversubscribed, creating a favorable environment for the green bond launch. He mentioned collaborative efforts with partners, regulators, and the market to develop the framework and rules for green bonds, including enhanced disclosure requirements and certifications. The government has identified several projects where the proceeds from the green bond will be allocated, signaling a commitment to sustainable development and environmental initiatives. Onyema discussed the process for future issuances, targeting sub-national governments and corporates to participate in the green bond market. The interview underscored the role of public-private partnerships in driving interest in green bonds and expanding the market's depth and investment options. Onyema expressed optimism that Nigeria's leadership in green bond issuance could set a precedent for other African countries, fostering collaboration and growth in sustainable finance. The potential for Nigeria to become a trailblazer in green bonds on the continent was a key takeaway from the interview, reflecting the country's innovative approach to creating opportunities for wealth generation and sustainable development. As green bond issuance gains momentum globally, Nigeria's foray into this market represents a strategic move to attract institutional investors seeking environmentally friendly investment opportunities. The interview with Onyema shed light on Nigeria's commitment to driving sustainable finance and its aspirations to lead the green bond movement in Africa.
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