PenCom’s AuM data signals investment shift favouring corporate debt, equities
Charles Abuede
February 25, 2021
By Charles Abuede Latest data from the National Pension Commission (PenCom), the pension industry regulator, showed that total assets under management (AuM) of the regulated pension industry increased by 20.3 per cent year-on-year to N12.3 trillion, about $30 billion at the end-December, from N12.29 trillion, or $31.3 billion as of the close of November […]
Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention
Ben EguzozieFebruary 25, 2021
CDS pledges to galvanize military to protect oil assets Nigeria is still losing 200,000 barrels of crude oil daily to vandalism, especially from its System 2B Pipeline, Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), has revealed. Another set of huge loses comes from theft from the […]
Positive buying sentiments in large-cap stocks drive up market cap, gifting investors N29.5bn
Charles AbuedeFebruary 25, 2021
By Charles Abuede The local equities market sustained its upbeat on Wednesday, helped by buying sentiments on large-cap stocks which drove the market northward due to buying interest in Wapco Plc (+3.5%), Zenith Bank (+1.2%) and GTBank (+1.0%). As a result, the benchmark index rose 14 basis points to 40,221.30 points, as the market […]
Wike blames NDDC’s woeful performance on meddlesomeness by Presidency, NASS
Ben EguzozieFebruary 25, 2021
Upper legislative chamber’s committee in PH for quango’s office inauguration Thursday They’re here to pack their share of the loot – civil society groups Commission reeks of sleaze as forensic audit work is thwarted Governor of oil-rich Rivers State, Nyesom Wike, has thrown the blames for the woeful performance of the Niger Delta […]
Nigeria to sell 170MW electricity capacity to Togo from Calabar plant
Ben EguzozieFebruary 24, 2021
To sell additional 100MW to Paradise City, Calabar Power part of Nigeria’s 3,742MW stranded power Nigeria is to sell 170 megawatts of electricity capacity to Republic of Togo, a West African and ECOWAS neighbour. The power described as “excess capacity,” is coming from the Niger Delta Power Holding Company (NDPHC) plant in […]
Global health insurance premiums fall amid pandemic, says new report
Zainab IwayemiFebruary 24, 2021
By Zainab Iwayemi International Private Medical Insurance (IPMI) premiums for both individuals and families have declined due to the COVID-19 pandemic, a survey carried out in 100 locations by Pacific Primes, a global health insurance brokerage has shown. The survey result shows that in 2020, out of 100 locations studied, up to 36 countries […]
Insurance M&A record highest growth in Africa, Middle East in 2020
Zainab IwayemiFebruary 23, 2021
By Zainab Iwayemi Mergers and Acquisition (M&A) insurance transactions in the Middle East and Africa grew the most in 2020 by 166.7 per cent, the latest edition of Clyde & Co’s Insurance Growth Report 2021 titled, “Finding opportunity in adversity”, has shown. According to the report the annual volume of global insurance deals in […]
Nigeria, Egypt, Kenya, South Africa lead Africa’s home-tech market, with adoption of smart devices to boost growth
Ben EguzozieFebruary 23, 2021
There are over 55 companies continent-wide Global smart home market to hit $622.59bn by 2026 at CAGR of 29.3% Nigeria, Egypt, Kenya and South Africa, described as the ‘big four’, are leading Africa’s home-tech market which has been making steady gains over the past few years, data from Briter Bridges show. According […]
Japan steps up Africa tech-funding as Tokyo VC stakes $15m on startups
Ben EguzozieFebruary 22, 2021
Kepple Africa Ventures, another Japanese firm invested in 36 African startups in 2020 Africa startups move out of continent with offshore bourse listing Japan, the world’s third largest economy by nominal GDP and the fourth-largest by purchasing power, is stepping tech-funding in Africa, as Tokyo-based virtual capital firm, Uncovered Fund has […]
Nigeria posts world’s best GDP growth ahead US, China, Japan
Charles AbuedeFebruary 22, 2021
By Charles Abuede Beating analysts’ expectations GDP grew 9.7%q/q to N19.55trn in real term; best in 8 years Major growth recorded in non-oil sector with agriculture, industries, services growing at 27%, 19%, 54% Nigeria’s economy showed resilience in the fourth quarter of 2020, beating the expectations of several economic analysts, including projections […]