By Michael Ebo
Davids Business Academy (DBA), anÂ affiliate of DHTL Capital Management Limited, has announced its plans to set up an investment school and research centre in the country, that will help boost and promote knowledge of investment activities and also contribute to the growth and development of the Nigerian capital market and the countryâ€™s Gross Domestic Product (GDP).
Speaking at a forum in Lagos weekend, Mr. Tunde Adeyemi, Research Fellow, DBA and Managing Director, DHTL Capital Management Limited, stressed the importance of the need for the promotion of investment education, especially in deepening the knowledge of market operators in area of advanced capital market processes and new products development.
He said, â€œFollowing our training of market operators over the last decade, we discovered that in West Africa and also in Nigeria, there is actually no school for capital market training. This has brought about a major knowledge gap, thereby, hindering the growth and development of the regionâ€™ s capital market, as portrayed by the dominance of equity trading over other capital market instruments since the inception of the capital market.
The proposed global investment school and research institute which we plan to establish within the next one year, would help train market operators on recent developments in global capital markets, helping them rank among the best in the international community.â€
To this end, he noted that it intends to enter into strategic local and foreign partnership in the setting up of the institute, which will help create awareness and boost the profile of the market, making it possible for it to contribute meaningfully to the GDP.
He disclosed that about 90 per cent of stockbrokers in the Nigerian capital market were affected by the global economic meltdown because of the fact that they lack the requisite training and knowledge needed to make sound and proper investment decisions.
Adeyemi expressed confidence that in the very near future, the institute will become the most advanced and pioneering investment training centre in the whole of Africa, as it plans to bring investment professionals from international institutes to train market operators, producing professional investment analysts and advisers.
He further stated that as parts of plans to transform to an academic institution, it plans to partner with higher institutions in the country, before the end of the year, to set up a faculty in each of these institutions of higher learning to train their students on investment activities, bringing experts on a regular basis to train the students, inculcating investment and capital market knowledge in them.Â Â Â