IMF, World Bank launch guidelines for policymakers on fintech

October 11, 2018

The International Monetary Fund (IMF) and the World Bank have jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched Thursday on the Indonesian island where the IMF and the World […]

AFC gets $300m facility from Chinese export-import bank

Adesola AfolabiOctober 11, 2018

Africa Finance Corporation (AFC), an infrastructure development finance institution, has announced its successful acquisition of a $300 million loan facility from the Export-Import Bank of China (CEXIM). The acquisition consists of a $200 million 5-year loan and a $100 million 5-year standby facility for general corporate purpose. The facility from CEXIM marks AFC’s inaugural financing […]

World Bank’s new human capital index says Nigeria is underinvesting in its people as it ranks 152 out of 157 countries

Adesola AfolabiOctober 11, 2018

A recent World Bank Human Capital Index (HCI) launched Thursday in Bali, Indonesia has ranked Nigeria at the 152nd position amongst indexed countries of the world. The HCI constructed for 157 countries measures how much countries lose in economic productivity by under-investing in their people. Specifically, it conveys the productivity of the next generation of […]

Nigerian stocks dip further by 0.1% as investors book profit in major counters

Adesola AfolabiOctober 10, 2018

Investor sentiments on Nigerian stocks Wednesday remained bearish as sell pressure in NIGERIAN BREWERIES (-2.8%), FBNH (-2.7%) and TRANSCOHOT (-9.6%) pulled the All Share Index (ASI) 0.1 percent lower to 32,382.58 points worsening the year-to-date loss to -15.3 percent. The market had closed 0.08 percent lower Tuesday on account of sell pressure in consumer good […]

At NSE/Bloomberg CEO roundtable, panelist canvasses serious planning, infrastructure investment  for Nigeria to benefit from 4th Industrial Revolution

Adesola AfolabiOctober 9, 2018

Having missed out on the opportunities and benefits associated with the first, second and third industrial revolution, Nigeria’s emergence from volatile economic cycles will come from serious planning and a devotion to investment in infrastructure, allowing her to take advantage of the benefits within the fourth industrial revolution. Fikayo Akeredolu, country manager Bloomberg made this point while […]

Nigeria’s inflation projected to increase 30bps to 11.53% In September

October 9, 2018

Year-on-year headline inflation is expected to increase by 30bps to 11.53 percent in the month of September, according to analysts at Lagos-based research firm, Financial Derivatives Company (FDC).  In the October Economic Bulletin released Tuesday, FDC said the rise in the inflation numbers would be primarily driven by higher food inflation as the recent floods […]

Poland’s largest refiner shows interest in Nigerian crude

Bukola OdufadeOctober 9, 2018

Poland’s largest oil refiner, PKN Orlen, is exploring Nigerian crude oil as its new source of supply following the country’s ongoing efforts to cut its reliance on Russian oil. PKN Orlen bought its first ever Nigerian crude oil cargo which is expected to arrive in mid-October, Daniel Obajtek, the company’s chief executive said in a […]

IMF revises global growth projection downward to 3.7%, says earlier numbers overoptimistic

Adesola AfolabiOctober 9, 2018

Maurice Obstfeld, economic counsellor and director of the research department at the International Monetary Fund (IMF) has explained that the 3.9 percent erstwhile projection of global economic growth for 2018 and 2019 taken last April is overoptimistic. According to Obstfeld at the time of the IMF’s last World Economic Outlook (WEO), the world economy’s broad‑based […]