Author: Marketforces Africa

Zenith Bank spreads into retail lending, says won’t fly M&A for managerial hubris. Zenith Bank Plc. has said that retail banking is now its major focus as the management pitched organic growth strategy.

Nigeria’s Capital Importation, Trade Data signpost Worsening External Conditions – Afrinvest. Afrinvest a leading investment banking firm, has stated that capital importation and trade data signpost worsening external condition.

FX: Weaker fundamentals may force currency repricing in 2020 – Cardinalstone. On the back of latest developments in the global economy, analysts at Cardinalstone Partners Limited have said that the weaker fundamentals may force currency repricing in 2020.

FBN softens speculation on M&A with Heritage, Polaris. First Bank of Nigeria (FBN) limited has downplayed the speculation over merger with Heritage and Polaris Bank Limited

Expected open market price of PMS now ₦112.26

GTBank announces Holdco plan, says it’s ready to go into price war for loans. Segun Agbaje, the Group Managing Director and Chief Executive Officer at Guaranty Trust Bank Plc. has announced lender’s plan to adopt holding structure to accommodate its diversification objective.

Dividend King: Nestlé Nigeria strong payout excites investors Nestle Nigeria Plc, the dividend king that pays shareholders N70 per share in 2019 really did excite the market. While the fast moving consumer goods company made N57.63 on every shares deployed for its 2019 operation, it total dividend for the year was N70. This is more than 100% payout. Equity analysts at Greenwich stated that despite marginal uptick in its profit after tax, the company pay-out 78.08% or N45 as dividend. It had paid an interim dividend of N25 on a share during the year. Meanwhile, Nestle Nigeria Plc. stock price…

Food prices have been on the rise, and some market observers suggest that this is not unconnected with the land border closure policy.

LDR: We will not be stampede to book loans – Zenith’s CEO Banks, while following through with the Central Bank of Nigeria’s loan to deposit ratio target, have also indicate they are guided by their risk appetite. The big balance sheet lenders seems not to be disturbed about possible increase in cash reserve ratio should they fail to meet the loan to deposit ratio benchmark. Speaking at earnings conference with analysts, the group managing director and chief executive officer at Zenith Bank Plc, Ebenezer Onyeagwu reiterates this position. Soji Solanke, Head of Research at Renaissance Capital had asked how Zenith…

Orange Digital Ventures leads $1.5 million investment round in Youverify Orange Digital Ventures Africa announces its latest investment on the African continent by leading the $1.5 million seed investment round in Youverify, the company said in a statement. The start-up, founded in Lagos automates identity and background verification processes, primarily serving financial and telecommunication service providers. Youverify is the fifth company to join the portfolio of Orange group’s African investment initiative. ODV says financial and mobile payment services continue to accelerate their development on the continent. The firm says that verification tasks remain complex and manual for major players, fintech…