Equatorial Guinea will host the African Development Bank’s next Annual Meetings in June 2019, following the signing of a memorandum of understanding between the two parties. The Annual Meetings will take place from 11th to 14th June, 2019 in the country’s capital city, Malabo. The theme of the African Development Bank’s Annual Meetings this year
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Economy Archives - Page 2 of 18 - Business Journal
February 28, 2019
Bearish Run Sustained on Large Sell-Offs… ASI Down 1.6%
The local bourse continued its bearish run as the All Share Index (ASI) declined 1.6% to close at 31,721.76 points dragged by sell offs in GUARANTY (-6.9%), NESTLE (-2.0%) and ZENITH (-4.0%). Consequently, the market capitalisation reduced to N11.8tn as investors lost N194.8bn while YTD gain dipped to 0.9%. However, activity level was mixed as volume traded decreased slightly by 9.7% to
February 28, 2019
ALSF Trains African Lawyers on Negotiating Economic Deals
The African Legal Support Facility has completed a two-day workshop for African lawyers and government negotiators, aimed at strengthening their capacity to negotiate complex deals involving investments in key economic sectors. The workshop, co-organised with the African Business Law Firms Association (ABFLA) under the African Legal Support Facility Academy, was held in Accra, Ghana, from
February 25, 2019
Post-Election Trading Begins on a Positive Note… ASI up 57bps
As investors await the results of the 2019 presidential elections, the domestic bourse experienced mild bargain hunting in bellwethers –NIGERIAN BREWERIES (+4.0%), ZENITH (+1.0%) and DANGCEM (+0.1%). This drove the All Share Index (ASI) 57bps higher to 32,700.12 points, YTD gain inched to 4.0% while market capitalisation improved slightly by N68.8bn to settle at N12.2tn. Activity level was however mixed
February 25, 2019
Maersk Accelerates Transformation, Earns $39bn in 2018
Progress on the transformation of A. P. Moller – Maersk continued in 2018. Customers benefitted from integrated offerings, digital solutions and robust network improvements. Since 2016, the top-line has grown by 43%, to $39bn in 2018, an additional $12bn in turnover. “In 2018, we made significant progress in implementing our strategy. With the expected demerger
- By : Business Journal
- Company News, Economy
February 13, 2019
AfDB, AU Partner on African Economic Transformation
The Chairperson of the African Union Commission (AUC), Moussa Faki Mahamat and the President of the African Development Bank Akinwumi Adesina, met yesterday in Addis Ababa, Ethiopia to reaffirm their commitment to accelerate Africa’s economic transformation. Mahamat and Adesina co-chaired a high-level consultative meeting attended by senior management of both institutions to take stock of
February 13, 2019
Equities Market Sustain Bullish Performance… ASI up 2.1%
In yesterday’s trading session, the domestic equities market maintained its bullish performance on the back of sustained buying interest in DANGCEM (+2.3%), NESTLE (+6.0%) and SEPLAT (+6.1%). Consequently, the All Share Index (“ASI”) rose 2.1% to 32,462.3 points while YTD gain improved to 3.2% as market capitalisation increased by N253.7bn to N12.1tn. Activity level also improved as volume and value
February 7, 2019
African Dev Bank Projects GDP of 4% for Africa in 2019
“The future of our continent is looking very promising indeed,” African Development Bank Group, President Akinwumi Adesina declared in the opening words of his address to diplomats yesterday in Abidjan. Adesina referred to the Bank’s recent flagship publication, the African Economic Outlook 2019 which noted that the recovery in commodity prices is driving domestic demand and infrastructure investment,
January 28, 2019
NIGERIA BUILD EXPO 2019 Set for June 27
Nigeria Build Expo: 4 TH International Construction and Building Materials & Technologies Exhibition which is organized by Elan Expo will take place on 27-29 June 2019 at Landmark Centre at Lagos, Nigeria. RISING STAR OF WEST AFRICA Nigeria is the most developed country in the West Africa. Nigeria’s large market size and annual growth rate
January 17, 2019
BPE Inaugurates Board of Yola DISCO
Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has charged members of the Management Board of the Yola Electricity Distribution Company (YEDC) to shun personal and sectional interests in the discharge of their duties. Inaugurating the Board of the company headed by Mr. Gbeleyi Ayodeji yesterday in Abuja, the DG
December 5, 2018
‘Nigeria Needs $3trn Infrastructural Investment in Next 20 Years’
Dr. Emeka Okwuosa, the Chairman, Oilserv Group says Nigeria needs to invest over three trillion dollars in infrastructure over the next 20 years for positive impacts in various sectors of the economy, Okwuosa was quoted to have said while delivering paper titled, “Infrastructural Development: A Key to Economic Growth and Development in Nigeria” at the
- By : Business Journal
- Economy
December 5, 2018
‘Africa Must Leverage Strengths to Accelerate Drive Towards Integration’
Participants to the 13th African Economic Conference called for African countries to leverage the full range of their strengths and resources to accelerate the region’s drive towards continental integration. Themed “Regional and Continental Integration for Africa’s Development” the 2018 AEC, jointly organised by the United Nations Development Programme, the United Nations Economic Commission for Africa, and the African
- By : Business Journal
- Economy
December 3, 2018
CBN: Nigeria’s Food Import Drops by $21bn
The policy of the Federal Government to reduce import of food seems to be yielding the desired result as the country’s food import dropped by $21 billion since January 2015. This translates to $160.4 million in October 2018 from as high as $665.4 million in January 2015. Mr. Godwin Emefiele, Governor, Central Bank of Nigeria
November 28, 2018
Senate Expresses of Commitment for Speedy Amendment NDIC Act
The Senate Committee on Banking, Insurance and Other Financial Institutions has expressed a strong Commitment for the accelerated amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act, 2006, to eliminate the gaps that have hindered the full realization of the public policy objectives of the implementation of the Deposit Insurance System (DIS) in Nigeria. This
November 26, 2018
‘Nigeria Must Invest In Human Capital Development’ –AMCON MD
Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON) Ahmed Lawan Kuru has reiterated the need for the government and institutions at all levels to pay more attention to human capital development, which he described as the key to the paradigm shift the country is clamoring for. Kuru who was special guest of honour
- By : Business Journal
- Economy
