Nigeria | - Part 91

Nigeria Capital Market: Week Ended 2nd April, 2015

Domestic Polity Stability Spurs Capital Market Resurgence Following an extended period of political uncertainty and weakening macro-economic indicators which depressed investors’ confidence and beclouded the performance of Africa’s largest economy, the economy seems to be rebounding. The rear outcome of the presidential election which saw the unseating of the incumbent People’s Democratic Party’s Goodluck Jonathan and the historic victory of General Muhammadu Buhari is telling on the future of Nigeria as the African economic power…

Nigerian Political Landscape:Beyond the Change Chorus

Posted on by The Editorial Team

Beyond the Change Chorus… Open for Business Again? Against the intense apprehension by local and international observers, Nigeria’s 2015 Presidential Elections turned out peaceful and successful following the incumbent’s concession of defeat prior to the final announcement by the electoral umpire – INEC. The election, which was keenly contested by All Progressives Congress (APC) – Gen. Muhammad Buhari (GMB) and Peoples Democratic Party (PDP) – Goodluck Ebele Jonathan (GEJ) saw the emergence of GMB as…

Barclays Africa Applies for Equities Trading Licence in Nigeria

Posted on by The Editorial Team

Barclays Africa Group Limited, which is expanding on the continent after buying most of its parent’s operations in Africa, has applied for an equities trading license in Nigeria in addition to a commercial licence. “We really want to follow our corporate clients into Nigeria,” Bloomberg quoted the chief executive officer of the Johannesburg-based lender, Maria Ramos to have said in a recent presentation. “We want to bank our global and local clients in Nigeria. It’s…

Nigeria: 2015 Election analysis

Posted on by The Editorial Team

At the time of writing, the election results had still not officially been declared by the Independent National Electoral Commission (INEC). Problems with biometric card readers delayed voter accreditation, and a few attacks on election centres caused a delay in the voting process itself. This led INEC to extend the vote by one day from March 28 to March 29 in some areas. We do not expect to see significant changes in policy regardless of…

Fitch Affirms Nigeria at ‘BB-‘; Outlook Revised to Negative

Posted on by The Editorial Team

London, March 30 (Fitch): Fitch Ratings has affirmed Nigeria’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB-‘ and ‘BB’ respectively. The Outlooks on the Long-Term IDRs have been revised to Negative from Stable. The issue ratings on Nigeria’s senior unsecured foreign currency bonds are affirmed at ‘BB-‘. The Country Ceiling is affirmed at ‘BB-‘ and the Short-Term Foreign Currency IDR at ‘B’. Under EU credit rating agency (CRA) regulation, the publication of…

Nigerian Equity: Week Ending 27th March 2015

Posted on by The Editorial Team

The week ending 27th March 2015, heavy transactions in the shares of some banks and insurance companies, especially United Bank for Africa (UBA), Mansard Insurance, lifted the volume of shares traded, as a turnover of 2.509 billion shares worth NGN24.115 billion were exchanged in 19,971 deals by investors on the floor of the Nigerian Stock Exchange. In comparison to previous week, a total of 1.382 billion shares valued at NGN12.053 billion changed hands in 16,877…

African Market Watch: Thurs, 26th March 2015

Posted on by The Editorial Team

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous day. BRVM 10 index rose from 270.42pts to 270.97pts, a gain of 0.20%. BRVM Composite index gained 0.28% to 266.05pts against 265.32pts previously. The equity market capitalization was recorded at XOF 6,564.81 billion. Likewise, the traded value was recorded at XOF 395.679 million and total volumes recorded at 56,555 shares in…

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