FMDQ Exchange Approves Ojaja Pan Africa’s ₦25.53bn Commercial Papers

• FMDQ Exchange has approved the quotation of Ojaja Pan Africa Limited’s ₦25.53 billion commercial papers under its ₦100 billion issuance programme.

• The approved papers comprise ₦4.80 billion Series 1, ₦1.36 billion Series 2 and ₦19.37 billion Series 3 commercial papers.

• The proceeds will support Ojaja Pan Africa’s working capital needs and expansion across its real estate, agriculture, manufacturing, mining, tourism, hospitality and retail businesses.

August 19, () — FMDQ Securities Exchange Limited has approved the quotation of Ojaja Pan Africa Limited’s ₦25.53 billion Commercial Papers (CPs) under the company’s ₦100 billion Commercial Paper Issuance Programme.

The approval covers ₦4.80 billion Series 1, ₦1.36 billion Series 2 and ₦19.37 billion Series 3 Commercial Papers on the FMDQ Exchange platform.

The quotation gives Ojaja Pan Africa additional access to Nigeria’s short-term debt market as the company seeks to fund its working capital requirements and expand its operations across several sectors.

Ojaja Pan Africa is a diversified conglomerate with interests in real estate, agriculture, manufacturing, mining, tourism, hospitality and retail across Africa.

Commercial papers to support expansion

According to FMDQ Exchange, the net proceeds from the issuance will be used to support the company’s working capital requirements and the continued expansion of its business interests across its operating segments.

The issuance was sponsored by Comercio Partners Capital Limited, a Registration Member (Quotations) of FMDQ Exchange.

Ojaja Pan Africa has previously accessed the exchange’s platform to raise short-term capital and has established a track record of meeting its obligations as they fall due, according to FMDQ.

The latest issuance adds to the company’s use of the commercial paper market as an alternative source of short-term financing.

Commercial papers allow companies to raise funds directly from the debt market, providing an additional financing option for short-term business needs.

FMDQ highlights corporate demand

Commenting on the quotation, Tumi Sekoni, Group Chief Operating Officer of FMDQ Group, said Ojaja Pan Africa’s return to the commercial paper market at a larger scale underscores continued interest in well-structured corporate issuances.

She said the CP market remains important in meeting short-term funding needs while giving corporates access to the debt capital markets.

“FMDQ Exchange remains committed to providing corporates, including diversified conglomerates, with efficient access to the debt capital markets,” Sekoni said.

She added that the exchange was pleased to support Ojaja Pan Africa as it deploys the facility to advance its pan-African operations.

The transaction comes as Nigeria’s debt capital markets continue to provide companies with alternatives to traditional sources of financing.

FMDQ Exchange said it remains focused on providing issuers across sectors with efficient platforms for mobilising short-term capital, supported by robust market infrastructure, governance, transparency and market integrity.

For corporate issuers, increased access to the commercial paper market can provide additional funding options for working capital and expansion, while broader participation can deepen Nigeria’s money markets.

The Ojaja Pan Africa issuance therefore adds to the pool of corporate short-term debt instruments available to investors and highlights the growing role of Nigeria’s commercial paper market in financing business activity.