FMDQ Securities Exchange (FMDQ Exchange) Limited accepted the admission of new commercial papers programmes worth N40 billion to its platform.
FMDQ Exchange approved the registration of Babban Gona Farmer Services Nigeria Limited’s N15 billion commercial paper (CP) programme and Mixta Real Estate Plc’s N25 billion CP issuance programme.
Babban Gona Farmer Services Nigeria is a social enterprise that seeks to sustainably improve the lives of smallholder farmers in Nigeria through comprehensive farming services.
Mixta Real Estate, a subsidiary of Mixta Africa, is a real estate development company in Nigeria with a track record and diverse real estate portfolio and operations spanning the residential, commercial, and retail sectors of the real estate industry.
Babban Gona Farmer Services Nigeria Limited’s Managing Director, Mr. Bukola Masha, Speaking on the successful registration of the CP proramme, noted the company, as an agricultural franchise, is dedicated to decreasing the growing trend of poverty and violence in Africa by generating opportunities for dignified and fulfilling work for the rural farmer youths.
“We aim to make farming more profitable for smallholder farmers as we support them across the entire production chain. With the successful registration of this N15 billion CP programme, we are a step closer to achieving this goal; we are delighted at the opportunity to diversify our short-term funding sources and look forward to the participation of the investment community when we launch Series 1 of the CP Programme,” he said.
FMDQ Exchange assured that as part of its mandate to organise and govern markets within its purview and promote credibility and transparency in the Nigerian debt capital market, it shall continue to provide an innovative and efficient platform to support corporate entities’ aspirations.
According to FMDQ, it remains devoted to making the Nigerian financial markets globally competitive, operationally excellent, liquid, and diverse, in line with FMDQ Group’s ‘GOLD’ Agenda, to achieve its full potential of driving growth and development in the nation.
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