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
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Economy Archives - Page 2 of 16 - Business Journal
October 11, 2018
Nigeria Raised $2.5bn from Bonds in Q3 2018
- 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
July 5, 2018
The Nigeria Mid-Year Outlook Report
By Cordros Capital We are pleased to share with you, the Nigeria Mid-year Outlook Report — with the theme “Stable Macros, Political Concerns, Cautious Markets”. In the report, we analyse the Nigerian economy in detail, discussing the salient events that happened in H1-2018, but dwelling more on expectations for the second half of the year. Following
- By : Business Journal
- Economy
July 5, 2018
Nigeria Records $22bn Remittance in 2017, Highest in Africa
Meet the largest gathering of money transfer providers on the Africa continent at the 7th RemittanceAfrica Expo that will take place across 23 and 24 of October at the Lagos Oriental hotel with the compelling headline theme ‘Unlocking Opportunities in Money Transfer and Payment systems in Africa’. The conference will host leading thought leaders in the
- By : Business Journal
- Economy
June 27, 2018
‘No Transparency in Nigerian State Budgets’
BudgIT is currently conducting its #StateofStates campaign which examines the level of transparency in the 36 Nigerian States. In its online assessment on the availability of public finance documents in State government domains, we observed that as at June 20, 2018, only 15 States in the country had published their budget documents online. BudgIT, a
- By : Business Journal
- Economy
June 27, 2018
UNDP Partners Civic Foundation on Innovation
“Innovation has potential to significantly contribute to addressing urgent development challenges in Nigeria; from youth unemployment and inequality to enhancing efficiency in the delivery of public services,” stated Samuel Bwalya, UNDP Nigeria Country Director at the signing ceremony of a Memorandum of Understanding (MoU) with the Civic Foundation for Innovation. The two institutions entered into
- By : Business Journal
- Economy
June 18, 2018
Infrastructure & Economic Growth: The Strategic Alliance
Text of the paper presented by Professor Akpan Ekpo, Director-General, West African Institute for Financial and Economic Management (WAIFEM) at the Business Journal 10th Anniversary Lecture in Lagos. Private sector and infrastructure It has always been argued that the private sector is the engine of growth and as such as significant role to play in
