Asa News Online is your news, entertainment, music fashion …

FMDQ Exchange Approves ₦30.00 billion Commercial Paper Programme to Boost Agriculture

Access to capital remains a top priority for corporates, as capital is required to fund business expenditure, expansion aspirations and/or existing debt obligations, and the debt markets fulfil this funding requirement by availing competitive financing to corporates and governments. FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”), in furtherance of its commitment to the transformative development of the Nigerian debt markets, has approved the registration of the Johnvents Industries Limited ₦30.00 billion Commercial Paper (“CP”) Programme on its platform, in September 2022.

Johnvents Industries Limited (“Johnvents Industries”) is a wholly indigenous-owned agribusiness that provides modern information and communication tools, macro-loans, and farm inputs, such as seedlings and fertilisers, to support farmers and finance their businesses in Nigeria, via its subsidiaries – Johnvents Procurements, Johnvents Cocoa Factory and Johnvents AgriTrade. The CP Programme, which is sponsored by United Capital PLC – a Registration Member (Quotations) of FMDQ Exchange, will avail the Issuer, Johnvents Industries, the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the Programme limit.

As Nigeria’s largest securities exchange by market turnover, FMDQ Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, such as Johnvents Industries, to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector.

FMDQ Group is Africa’s first vertically integrated financial market infrastructure (“FMI”) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.

Leave a Reply