Day: August 28, 2019

NSE set for market data workshop

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  The Nigerian Stock Exchange (NSE) is set to host the 4th edition of NSE Market Data Workshop. According to a statement from the exchange, the 2019 NSE Market Data Workshop,  which is scheduled to hold on September 11, in Lagos, will bring together investors, market data aggregators, exchanges, market regulators, government agencies, broker dealers, media and other capital market stakeholders to discuss market data products and partnerships opportunities available to launch customer-centric products, while leveraging on strategic synergies and technologies to drive market participation.   The one-day event with the…

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MTN Nigeria returns as most valuable stock

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Overtakes Dangote Cement by N39bn gain MTN Nigeria Plc yesterday returned as the biggest listed firm on the Nigerian Stock Exchange as sell-offs was witnessed in Dangote Cement Plc’s shares.  On Monday, August 19 , MTN Nigeria had gone ahead of Dangote Cement, becoming the most capitalised company on the NSE just three months after being listed, as its share price increased to N138.70 from N135 on Friday. However, yesterday, Dangote Cement saw a 0.91 per cent increase in its share price from N164.50 on Monday to N166 on Tuesday,…

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Imperial logistics increases stake in MDS

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UAC of Nigeria Plc has notified the Nigerian Stock Exchange (NSE) and its shareholders and stakeholders that the company has entered into an agreement with Imperial Logistics Limited. Under the deal, Imperial Logistics proposes to increase its shareholding in MDS Logistics Limited from 49 per cent to 57 per cent, by acquiring additional eight per cent shareholding . The Transaction is subject to relevant regulatory approvals. Under the terms of the transaction, Imperial Logistics will transfer selected profitable contracts to MDS and pay $2.4 million in cash. The transaction is…

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Standard Bank invests $4m in fintech firm

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South Africa’s Standard Bank has taken a stake in local fintech firm, Nomanini, to offer credit to potentially millions of small shop owners and other informal retailers across Africa that have limited access to banking services. Africa’s biggest bank by assets has invested $4 million in Nomanini, which connects informal merchants with distributors via an e-wallet, and aims to roll the service out across 14 African countries by early 2021. Nine out of 10 retail transactions in Africa are conducted in cash or via informal channels like kiosks and open-air…

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JPMorgan: Time to buy equities fast approaching

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After August’s sell-off, the time to buy stocks is approaching; strategists led by Mislav Matejka wrote in a note on Tuesday. They said equities would move higher starting with an uptrend in September. Benchmarks including the S&P 500 Index, the Stoxx Europe 600 Index and the MSCI Asia Pacific Index are poised for their biggest monthly declines since May. “While we have been advocating a consolidation call during August, we continue to expect that the pullback will not extend for longer than the May one did, and still believe that…

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Truecaller crosses 1m paying subscribers’ mark

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Truecaller yesterday announced that it has crossed one million paying subscribers globally, and has added a series of new feature to its paid subscription service, “Truecaller Premium.” In a press release,   the firm stated that  rolled out globally, the premium subscription service would now incorporate several advanced and more powerful spam blocking features that include automatically updating and blocking top spammers among others. The spam blocking features are currently available to Android users across all global markets of Truecaller. Additionally, Truecaller’s another recently launched subscription service, Truecaller Premium Gold, will also offer…

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Fidelity Bank empowers youth with entrepreneurial skills

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Fidelity Bank Plc, in partnership with Gazelle Academy and Bayero University Kano, at the weekend, concluded an entrepreneurship training programme for over 200 students in Kano State.  Organised under the Fidelity Youth Empowerment Academy stream 5 (YEA 5), the week-long training programme seeks to equip undergraduates with requisite skills, know-how, and capabilities needed to take start businesses even whilst in school.  Participants received training in various skill areas including fashion designing, makeover, henna design, new media marketing, baby bag making, bead making, etc. This empowerment programme, which is part of…

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CBN survey shows firms expect naira appreciation

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Despite concerns over recent decline in oil prices and  looming global economic recession,  the latest Central Bank of Nigeria’s (CBN) monthly Business Expectations Survey (BES)  report  shows  that majority of  respondent firms expect the naira to appreciate in the coming months. According to the August 2019 BES report, which was posted on the apex bank’s website yesterday, majority of businesses in the country also expressed optimism on the macro economy in the current month. Specifically, the report indicates that firms’ outlook on the volume of total order, business activity and financial conditions (working capital) were positive…

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