In line with its mandate to facilitate the development of the Nigerian debt markets, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) continues to use its platform, to ensure the seamless registration, listing, quotation and trading of debt securities in the Nigerian financial markets space. As a result of this, the Board Listings and Markets Committee of the Exchange has approved the registration of the Saroafrica Funding SPV PLC ₦25.00 billion Commercial Paper (CP) Programme on its platform. Saroafrica Funding SPV PLC (the “Issuer”) is a special purpose vehicle set up by Saroafrica International Limited (“Saroafrica”) to raise finance from the CP market, through the listing
of debt securities. Saroafrica is an agricultural commodity exporting company that is involved in the local and international trading of cocoa. Saroafrica has five (5) main subsidiaries – Saro Agrosciences, Saro Agroallied, Saro Lifecare, Saro Oil Palm and Gossy Warm Springs and two (2) joint ventures – AgriSeedCo and Green Hills Agricultural Products. This CP programme, which was sponsored by Afrinvest Capital Limited – a Registration Member (Quotations) of the Exchange, allows Saroafrica to efficiently raise short-term finance from the Nigerian debt markets, through CP issues, within the approved CP Programme limit.

In support of its mandate to deepen the Nigerian financial markets, FMDQ Exchange will continue to support the efficient allocation of capital by providing a credible platform for capital formation and effective intermediation towards fostering economic growth and development. The Exchange will continue to fulfil its market development, organiser, and governance mandates, by providing a costeffective, efficient, well-regulated, transparent, and trusted platform where the raising and transfer of capital can take place, whilst adding value to its diverse stakeholder groups.

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.