Nigeria’s equities market retreats, as ASI dips 0.82%

The first trading day of the week at Nigeria’s equities market ended on a negative note with depreciation recorded across all major sectors, dragging the All Share Index (ASI) 0.82 percent down as investors began taking profit. The consumer goods index declined the most, down 2.3 percent following sell pressures in Nestle (-4.1%), Nigerian Breweries […]

SEC to roll out regulations guiding capital market Fintech products – Uduk

SEC, Exchanges

In its desire to transition towards a technology driven capital market as well as protect investors, the Securities and Exchange Commission, SEC, has said that the Commission would soon come out with regulations that would guide such products in the capital market. Mary Uduk, acting director general of SEC disclosed this Wednesday during the presentation […]

SEC confirms discussions with MTN Group on $500m initial public offering

SEC, Exchanges

The Securities and Exchange Commission (SEC) Wednesday confirmed it was in discussions with MTN Group on the company’s planned $500 million initial public offering (IPO), bringing to a close speculations that the telecoms company was yet to make a move on listing its shares on the Nigerian Stock Exchange (NSE). According to a News Agency […]

Bullish outlook seen for SSA private equity investments as consumer-focused sector to gain most

Consumer-focused sectors, which include food and beverages, healthcare and pharmaceuticals, agriculture and agribusiness, as well as financial services, rank among the top PE sector focus areas in Africa, with West and East Africa taking the lead, according to the 2017 Deloitte Africa Private Equity Confidence Survey. Both the IMF economic growth projections as well as […]

Corporate profits growth, benign default outlook may offset higher interest rates in 2018 – Moody’s

Moody’s Capital Markets Research Inc. has predicted a climb in global interest rates in 2018 but said that interest-rate inspired declines by the broad equity indices may be shallow on account of growth in corporate earnings and benign corporate defaults. “Though benchmark interest rates are likely to climb higher, the combination of corporate earnings growth […]

Lafarge targets N131.65bn via rights issue of 3.1bn shares

Lafarge Africa

Lafarge Africa Plc is set to raise N131.65 billion from its existing shareholders by offering a total of 3,097,653,023 new ordinary shares at N42.50 kobo per share, based on a ratio of five new ordinary shares for every nine held. The issue price represents a discount of approximately 17.5 percent to the closing price of […]

U.S. dollar, bond yields climb, with focus on Fed

The U.S. dollar rose from its lowest level in more than a year and U.S. Treasury yields climbed on Monday as investors braced for news from this week’s U.S. central bank meeting and possible hints on when the next interest rate hike is coming. Further developments in Washington, including on U.S. President Donald Trump’s inner […]