Radisson Blu Hotel, Lagos The rapid expansion in the number of hotel rooms, or keys as it’s known in the business, in Nigeria is an indication of a growing economy and favourable investment climate says the host of the West African Property Investment (WAPI) Summit & Expo, Kfir Rusin. With more than 9,603 rooms across
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Economy Archives - Page 2 of 17 - Business Journal
October 31, 2018
‘Funding- key to Unlocking Nigerian Hotel Pipeline’
- By : Business Journal
- Economy, Tourism, Travel & Tour
October 30, 2018
Nigeria, Ethiopia, Kenya Lead 2017 FDI Flow in Africa
South Africa shares the title of largest African FDI hub with Morocco; Southern, West, East and North Africa all receive more or less equal FDI (measured in project numbers); The USA remains the single biggest country investing in Africa, while Western Europe is by far the biggest regional investor. According to EY’s latest Africa Attractiveness
October 24, 2018
African Leaders Seek World Bank Support on Power
Speaking at the World Bank meeting in Bali this month, Jim Yong Kim, the World Bank President, said that African leaders approached him and said that they need more support to provide base-load power in their countries. He said that these African leaders are telling him it is wrong for institutions like the World Bank
October 23, 2018
NMRC: Affordable Housing Expands Economic Growth
As the continent’s largest economy, international development experts, innovators and funders increasingly believe that Nigeria is positioned to provide a market-driven solution to one of the continent’s most significant challenges and opportunities: Affordable Housing. While Nigeria’s size, ability to scale and recalibrated post-recession economy provides the ammunition for such a task, the scale of the
October 13, 2018
Nigeria Sustains Slow Progress in Human Development
In the week, there were multiple data releases that brought our attention to key growth and development issues in Nigeria. The International Monetary Fund (IMF) revised its 2018 growth forecast for Nigeria as well as the global economy, downwards, while a new World Bank report showed that human capital development in Nigeria lagged SSA (Sub-Saharan
October 11, 2018
Nigeria Raised $2.5bn from Bonds in Q3 2018
Nigeria raised over $2.5 billion bond in quarter three of 2018 followed by South Africa with $9.3 billion, Côte d’Ivoire ($8.3 billion) and Angola ($3.5 billion). In total, Sub-Saharan Africa bond issuers raised a record $30.8 billion during Q3, 2018 This segment of the financial markets involving the sub-region was particularly animated by governments that are primary issuers notably
- By : Business Journal
- Economy
October 7, 2018
NSE, Bloomberg Holds 4th CEO Roundtable Oct 9
The Nigerian Stock Exchange The Nigerian Stock Exchange (NSE) in collaboration with Bloomberg will hold the fourth edition of the NSE-Bloomberg CEO Roundtable on Tuesday, October 9, 2018 at Stock Exchange House, Lagos. The event themed, “Reshaping the Nigerian Economy for Sustainable Growth: Leveraging the Fourth Industrial Revolution as a Catalyst for Advancement”, will focus
September 24, 2018
Profit Taking Reverses Bullish Run… ASI Down 27bps
Yesterday, profit taking in NIGERIAN BREWERIES (-3.2%), UBN (-9.5%) and OKOMUOIL (-9.0%) dragged the benchmark index 0.3% lower to close at 32,451.27 points. As a result, market capitalisation declined by N32.5bn to N11.8tn while YTD loss worsened to -15.1%. Similarly, activity level weakened as volume and value traded fell 42.4% and 24.9% to 190.5m units and N3.3bn respectively. The top traded stocks by volume
September 17, 2018
BPE to Privatise Nigeria Re via Public Offer
The insurance sector in Nigeria has continued to enjoy steady growth with Premiums increased from N75 billion to over N300 billion between 2005 and 2015, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has disclosed. Speaking as a special guest at the investiture ceremony of the 23rd Chairman of the Nigerian
September 14, 2018
Mauritius: A Blueprint for Africa’s Future Cities
Firmly established as Africa’s most progressive business orientated jurisdiction, Mauritius’ forward-thinking and nimble policies have resulted in the island nation riding the wave to the centre of investment and development in Africa. While its business-friendly framework and investment orientated tax policies are firmly established, the growing multi-sector opportunities for developers on the island are increasingly
- By : Business Journal
- Economy
August 30, 2018
Losses in Bellwethers Drag Domestic Bourse into the Red…NSE ASI Down 44bps
After starting the trading day on a positive note yesterday, sell offs across market bellwethers in late trading hours dragged the benchmark index 0.4% into the red to settle at 35,358.94 points while YTD loss worsened to -7.5%. Similarly, investors lost N57.4bn as market capitalisation reduced to N12.9tn. The negative performance recorded today was largely
August 30, 2018
Lake Chad Basin Ministers to Adopt Strategy for Stabilisation, Recovery, Resilience
The almost decade long Boko Haram insurgency has had a devastating impact on communities in countries within the Lake Chad Basin. On the recommendation of the First Conference on Regional Stabilization Strategy for the areas affected by Boko Haram insurgency that held in November 2017 in N’Djamena, Chad, a Regional Stabilisation, Resilience and Recovery strategy
August 29, 2018
Nigeria’s GDP Expands by 1.50% in Q2-2018
The National Bureau of Statistics (NBS) just released Nigeria’s Q2-18 GDP figure, showing that the domestic economy expanded for the fifth consecutive quarter, with real GDP growing by 1.50% y/y (vs. 1.95% y/y in the previous quarter and 0.72% y/y in Q2-2017). The growth estimate came in 46 bps and 120 bps lower than Bloomberg‘s
August 29, 2018
Nigeria Bourse Posts Bullish Performance as Investor Sentiment Improves
As expected, it was a bull’s market yesterday as the local bourse closed positive. The All Share Index (ASI) rose 53bps to 35,516.21 points, YTD loss improved to -7.1% and market capitalization increased by N74.8bn to N13.0tn. Price appreciation in banking bellwethers –GUARANTY (+2.6%), ACCESS (+2.8%) and UBA (+2.5%) were the major drivers of this performance. In the same vein, activity level
July 24, 2018
Headline Inflation Rate Declines to 11.23% in June
The National Bureau of Statistics (NBS) has released its CPI and Inflation report for the month of June 2018, revealing that Nigeria’s headline inflation rate moderated on a year-on-year basis for the 17th consecutive month to 11.23%, from 11.61% in May. Compared to Cordros Capital’s forecast of 10.90%, the number came in 33 bps higher
