May 29, 2022


Accounting + Finance Blog

Monthly Report: ICT Market Capitalization Share in NSE stands at 0.27 Percent


The ICT sector of Nigerian economy has played a crucial role in providing technology development in the country. Seven ICT companies have their shares listed in Nigerian Stock Exchange, NSE. It is certain that more ICT companies will have their shares listed in the exchange immediately they meet the listing criteria as many Fintech startups are growing by the day.
Last year, Nigerian widely use Telecom provider, MTN, proposes to be listed in the Exchange. Probably, the company may have not completely meet NSE listing criteria despite the fact that the company is more than ten years old in Nigeria. Nonetheless, I cannot ascertain for now if NSE will classify Telecom companies under ICT sector.

The  seven companies listed in the Exchange are Triple G, Chams PLC, ETranzact, Courtville, OMATEK, NCR and CWG. The market capitalization for each of this companies are N564,247,560; N2,348,030,000; N21,000,000,000; N1,776,000,000; N791,640,000 and N6,413,058,951.86 respectively.

Summing up each of this Market Capitalization gives a total Market Capitalization for ICT sector as N34,363,871,247.68. However, the NSE Market Capitalization is N12,720,170,132,022.32 as at August 2nd, 2017.

Computing the two figures together give ICT share of the NSE Market Capitalization has 0.27 Percent. In other words, the percentage represent what the ICT sector in Nigeria contributes to the Total Market Capitalization of the Nigerian Stock Exchange Market.

READ ON  Samsung Acquisitions of Innoetics may Enhanced Bixby

Disclaimer: Note that these figure represent Technologywatch Nigeria opinion and not that of the Nigerian Stock Exchange. Though the data used are from the Exchange.

Copyright 2020 @ Myfinancein