Stock Investors Reap N30bn As 18 Firms Gain
Equities listed on the Nigerian Exchange Limited gained N30.03bn at the end of trading on Monday, even as the number of losers surpassed the gainers. The NGX All-Share Index gained…
Crypto Sector Sees Outflows For 4th Week In A Row, CoinShares Data Shows
Cryptocurrency investment products and funds posted outflows for a fourth consecutive week, the bulk of which came from bitcoin products, which also experienced its fourth straight weekly outflow, data from…
StanChart Resumes Dividends And Buybacks As Profit Recovers
Standard Chartered PLC (STAN.L) posted a higher than expected 57% jump in first-half pretax profit and announced a $250 million share buyback, with the bank also resuming dividend payments by…
United Kingdom Climate Investment and Foreign Secretary Dominic Africa Back Green Housing Fund’s First Close
Foreign Secretary Dominic Raab today welcomed Kenyan President Uhuru Kenyatta to Mansion House in London to announce £132 million of new UK investment in Kenya. He also launched the Nairobi…
Vuna Partners Lands Commitment From Fund-Of-Funds
27four Black Business Growth Fund II Partnership (27four BBGF II), a blended finance partnership between the South African Government through the Jobs Fund, and South African institutional investors, has announced…
Emerging Africa Infrastructure Fund (EAIF) Agrees Debt Investment In Ivorian Hydro Project
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) (www.PIDG.org) company, is lending €25 million over 18 years to Ivoire Hydro Energy (IHE) which will build a…
Stock Market Dips by 0.3 Per Cent
Trading in the shares of Transnational Corporation of Nigeria, Oando and Fidelity Bank Plc dominated in volume terms at the end of last week’s transactions on the equities sector of…
Foreign Investors Exit Takes Toll As Stock Market Decline By N973.2bn In Seven Months
Profit-taking on price appreciation of stocks recorded last year and foreign investors exit Impacted the Nigerian equities market negatively in the first seven months of 2021 as investors lost N973.2billion.…
Investors Lose N5.80bn As 24 Firms Suffer Decline
Investors in the Nigerian Exchange Limited lost N5.80bn as 24 firms saw their share prices decline at the close of trading on Wednesday. The NGX All-Share Index declined by 2.87…
NGX Set To Drive Listings, Technology, Investor Participation
The Chief Executive Officer, Nigerian Exchange (NGX) Limited, Mr. Temi Popoola has said it aimed to drive listings of new companies, technology and improve on investor participation in the stock…
Nigeria’s Capital Importation Fell To $875.62m In Q2
The total value of capital importation into Nigeria declined to $875.62m in the second quarter of 2021 from $1.91bn in the first quarter of 2021. The National Bureau of Statistics…
Nigeria’s Revenue-To-GDP Ratio Lowest, Private Sector Choking – World Bank
Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank said on Monday. The Country…
MPC Likely To Hold Rates
The monetary policy committee (MPC) meets today and tomorrow. At its last meeting held in May, the committee was faced with two broad options: address the high inflationary pressure or…
External Reserves Gain $76.5 Billion In Seven Days
In a curious twist of fate last week, there was a breather for the falling foreign exchange reserves. The figures gained an average of $76.5 million in seven days. The…
Stock Market Rebounds With N376bn Weekly Gain
Stock trading on the floor of the Nigerian Exchange Limited rallied with a total gain of N375.50bn last week despite the lower trade volume occasioned by the public holidays on…
Virtual Events Platform Eventtus Is Acquired By US Firm Bevy
Egyptian virtual events platform, Eventtus has been acquired by Bevy, a Silicon Valley-based company that specialises in enterprise-grade virtual event & in-person customer-to-customer community management. Founded in 2012 by Mai…
Africa-Focused Credit Fund, BluePeak, Hits The First Close Of Its Maiden $200 million Credit Fund
Africa-focussed alternative asset management firm BluePeak Private Capital has hit the first close of its maiden $200 million credit fund, a person directly aware of the development told The Capital…
Egypt-Based Elmenus Raises US$10 Million In A Pre-Series C Round
Elmenus, an Egyptian food discovery and ordering platform, has secured US$10 million in a new funding round from MENA- and North America-based investors. With its new strategy to take minority…
How FG Can Woo Multinationals To Stock Market, Boost Profitability’
Experts have renewed calls for the Federal Government (FG) to adopt a policy that would help reduce persistent volatility in the nation’s Foreign exchange (Forex) market and stimulate capital market…
Nigeria Hires Money Managers For $37 Billion Infrastructure Fund
Nigeria has picked four asset managers to run a $37 billion fund set up to drive investment in roads, railways and power projects in Africa’s largest economy. Vice President Yemi…
Forex Shortages Force Nigerian Corporates To Turn To Parallel Market
Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the parallel market, a former official with the Lagos Chamber of Commerce and Industry…
Dollar Tiptoes Toward Inflation, Powell Testimony
Currency markets were on edge and the dollar a few ticks lower on Tuesday, ahead of U.S. inflation data which traders think could offer clues about the timing of tapering…
Stocks Simmer Near Record Highs Ahead Of U.S. Inflation Data
Global shares hung near record highs on Tuesday, buoyed by better than expected Chinese export data as markets awaited the release of U.S. inflation data for further clues about the…
Banks Tighten Grip On FX Market As Algo Trading Rises – Survey
Top global banks consolidated their stranglehold on the $6.6 trillion a day global foreign exchange market last year, with new entrants ceding ground, a widely watched industry survey showed. With…
Analysis: A Fine Mess: Weak Inflation Prompts A Global Central Bank Reset
It is an article of faith among central bankers that the decisions they make about how much money to create and what interest rate to charge for it will determine…
Virus Woes And Tech Crackdown Hammer Stocks; Bonds Rally
Asian stocks fell to a six-week low on Thursday as an extended selloff in tech shares in Hong Kong and rising virus cases added to a broad risk-averse mood, pressuring…
FTSE Russell To Remove More China Stocks From Indexes Over U.S.Ban
Global index publisher FTSE Russell said it will delete a further 20 Chinese companies from its indexes after user feedback on an updated U.S. executive order that bars U.S. investment…
U.S. Stocks Edge Up After Fed Minutes, Bonds Steady, Dollar Firm
U.S. Treasuries prices maintained gains on Wednesday, holding down yields, and two stock indexes notched record highs after minutes from the Federal Reserve’s latest meeting largely confirmed market expectations. The…
S&P 500 Edges Higher, Holds Gains After Fed Minutes
The S&P 500 rose slightly on Wednesday and held its gains after the Federal Reserve released the minutes from its last meeting, which showed officials divided on economic signals. According…
Investing in Ethereum? What you need to know about it and why it’s not just another bitcoin
As institutional investors become more comfortable with bitcoin, many have also taken an interest in ether, the native currency of the most widely used blockchain-based development platform, as they seek…