Jumia’s planned $100m American IPO could raise $500m, says Rennaissance Capital

Adesola AfolabiMarch 13, 2019

The planned $100 million initial public offering (IPO) to be listed on the New York Stock Exchange (NYSE) by African, e-commerce platform, Jumia, could raise an estimated $500 million, says Renaissance Capital’s research analysts. Jumia on Tuesday filed its IPO offer with the American Securities and Exchange Commission (SEC) with no disclosed pricing terms.   […]

Rate hike just the start for ‘firefighting’ Tunisia central bank

February 21, 2019

Tunisia’s central bank warned over the deteriorating state of the country’s finances and called for additional efforts to curb inflation after the first hike in interest rates since June. The current-account deficit reached an “unprecedented” 11.2 percent of gross domestic product in 2018, according to Governor Marouane El Abassi. The decision late Tuesday to raise […]

Banking stocks rally, as stock market rises by 0.5%

Adesola AfolabiJanuary 23, 2019

Nigeria’s stock market rose by 0.5 percent Wednesday as All Share Index settled at 30,878.56 points following gains in banking stocks such as Guaranty Trust Bank (+2.8%), Zenith (+0.9%) and Fidelity (+9.6%). The market’s year-to-date losses thus improved to -1.8 percent while market capitalization increased by N52.8 billion to settle at N11.5 trillion. Activity level […]

Softer system liquidity anticipated amidst CBN multiple OMO sales

Chris IkosaJanuary 22, 2019

The CBN has found it most important to conduct multiple OMO sales to combat higher system liquidity, and so far this year, the system liquidity has been very tight, but this week, Nkechi Ezugho, forex trader at UBA is of the opinion that the FAAC payment and OMO maturities could mean a softer system liquidity. […]

Take position in cheap assets, analysts’ advise equity investors

Adesola AfolabiJanuary 15, 2019

With outlook for the equities market remaining bearish till stability is regained after the 2019 general elections, capital market analysts are advising investors, particularly long term investors to position in cheap assets that have sound fundamentals so as to take advantage of the anticipated post-election rally. Stocks have continued to receive a battering amidst the […]

Tbills, bonds drive 49% Fixed income & currency market turnover in 2018

Adesola AfolabiJanuary 15, 2019

In anticipation of the uncertainty of the elections, 2018 saw investors were more committed to short-term interest yielding instrument, increasing by N5.85 trillion to drive a 49 percent year-on-year turnover in the Fixed Income and Currency (FIC) market as at year end December 31, 2018. However, investment in the FIC market recorded a 9.09 percent […]