Crypto, dollar to get investors’ safe haven gaze in 2022 – finance expert
Charles AbuedeApril 29, 2022
BY CHARLES ABUEDE With the ongoing unrest in Eastern Europe plus the massive volatility witnessed within the first three months of 2022, David Jones, chief analyst at Capital.com, has predicted that the currency market may see a high momentum in cryptocurrency which will propel crypto traders to stay focused on trading the digital assets […]
Nigeria offers bitumen concession blocks to local, foreign investors
Onome AmugeApril 27, 2022
BY ONOME AMUGE Nigeria, Africa’s largest economy by gross domestic product (GDP) and the continent’s largest market by population, is inviting local and foreign investors to explore its large bitumen reserves following a decision that it will now grant concessions of bitumen blocks to prospective companies. The country is hoping to use the opening of […]
AfDB shows off 50 yrs impact of ADF as 40 countries get $45bn
Charles AbuedeApril 27, 2022
BY CHARLES ABUEDE The African Development Bank (AfDB), has said a total of $45 billion has been invested by the African Development Fund (ADF) into 2,750 operations across 40 African countries since the fund was created in 1972. The bank, in an information sheet titled, ‘50 Voices, 50 Stories: Celebrating the impact of the African […]
Africa’s ‘big 5’ economies hold over 50% of Africa’s $2.1trn private wealth
Charles AbuedeApril 26, 2022
BY CHARLES ABUEDE Private billionaires or high-net-worth individuals with more than $1 million in private wealth in Africa are on the rise and a recent 2022 Africa Wealth Report, published today by Henley & Partners, in partnership with New World Wealth, has shown that total private wealth currently held on the African continent is $2.1 […]
PFAs’ exposure to FGN securities swells AuM 12% in Feb. to N13.8trn
Charles AbuedeApril 26, 2022
BY CHARLES ABUEDE Data for the month of February just made available by the National Pension Commission (PenCom) indicate that the exposures of pension managers to federal government debt securities accounted for 62 percent, the largest chunk, of the pension industry’s total assets. As a result, federal government securities rose two percent month on month […]
IMF bullish on global, Nigeria growth, FBNQuest analysts bearish
Charles AbuedeApril 26, 2022
BY CHARLES ABUEDE The International Monetary Fund (IMF) has predicted a moderate but upgraded growth outlook for Nigeria by 70 basis points to 3.4 percent in 2022 from the initial 2.7 percent projected during the last quarter. This was revealed in the fund’s recently released World Economic Outlook. This upgrade was hinged on some major […]
Nigeria, Kenya, Ghana: Currency, inflation drag SSA market cap by 1.5% to $1.2trn
Charles AbuedeApril 26, 2022
BY CHARLES ABUEDE The total market capitalisation of sub-Saharan Africa’s stock markets rose 3.2 percent to $1.20 trillion year to date (March 2022) in United States dollar terms on the back of positive price movements and appreciations witnessed by the Mauritius Stock Exchange (0.7%) Botswana (2.6%), Tanzania (1.2%) and Malawi (4.4%) exchanges, respectively, as the […]
Harnessing Nigeria’s agricultural wastes for economic development
Onome AmugeApril 26, 2022
BY ONOME AMUGE The quest to enhance food production globally has heightened the application of valuable resources such as land area, water, biodiversity and minerals to the agricultural sector, which is characterised by active farming operations and increased production of agricultural commodities. As positive as this may be for the agriculture sector, it has resulted […]
Analysts see investors hunting bargains on price alignments
Charles AbuedeApril 25, 2022
BY CHARLES ABUEDE The local bourse extended its positive and impressive run for the second straight week with broad-based gains across sectors to give market investors N511.8 billion as they stay focused on players in the oil and gas space. The space contributed the most to the positive close recorded for the week gaining 636 […]
Bear goes T-Bills, bonds’ yields down on N168.8bn payment
Charles AbuedeApril 25, 2022
BY CHARLES ABUEDE Bearish sentiments held sway last week across all segments of the fixed income market as participants kept to the sidelines in the bonds market ahead of the scheduled primary market auction that is being held today (Monday) by the Debt Management Office (DMO) with minimal sell-side activities causing yields across the curve […]