Author: Marketforces Africa

Inflation Rate to Tick Up by 0.08% in July – Meristem. Analysts at Meristem Securities Limited have projected an uptick in July inflation rate by 0.08% to 12.64%. The nation’s headline inflation has been on ascendancy for 11-months straight before it peaked 12.56% in June, according to NBS

PenCom Plans Retirement Savings Account Transfer Window. The National Pension Commission (PenCom) is set to allow contributors move their Retirement Savings Account (RSA) through a transfer window from one Pension Fund Administrator (PFA) to another, provided that it is not more than once in a year.

Airtel Partners Standard Chartered Bank to Drive Financial Inclusion

Brent Crude Fell to $45.31 after IEA Lower Forecast. Brent Crude fell 0.3 per cent to $5.31 per barrel on Thursday after the International Energy Agency lowered its 2020 oil demand forecast.

FBNH: We Want To Regain Our Leadership in Banking Sector – GMD

Anchor Borrowers Programme: NYFN urges CBN to include regional crops

Guinness Nigeria’s Profit Estimated to Drop by 86%, Downgrade to Sell. Guinness Nigeria Plc. is facing a very tough time, the brewer’s profit is projected to drop by 86% in 2020 as investment firm advised investors to dump the stock to avoid losing value.

Oil rises after bigger-than-expected drop in U.S. inventories

African Trade Insurance: President Buhari finalises Nigeria’s membership President Muhammadu Buhari has signed the instrument of ratification to the African Trade Insurance Agency’s (ATI) treaty. Membership in ATI provides African countries with additional trade and investment insurance capacity, which helps cushion against the negative economic impacts of COVID-19. Sherry Kennedy, the agency Senior Communication Officer made this known in a statement on Wednesday. The statement reads that the country joins ahead of others that are fast-tracking membership given the trade and investment insurance challenges during the COVID-19 pandemic and also recognizing the potential post pandemic opportunities. Read Also: “This finalises…

Neimeth Plc: Analysts Advised Investors to Sell despite Enhanced Profitability WSTC Securities Limited has advised investors to offload Neimeth Pharmaceutical Plc stock, though the firm recognised the company’s enhanced profitability. Despite the sell recommendation, analysts stated that they remain optimistic of the growth prospects of the company. The investment firm said it arrived at a fair value of N1.26 which implies a justified price earnings of 6.17x, though the stock currently trades at a price earnings ratio of 9.04x. In the recently released Q3’20 ended June 30, 2020 results, Neimeth declared a strong topline and bottomline growth. The company’s revenue…