Author: Marketforces Africa

NSE: Year to date losses widen to 16% as investors fortunes plunge. Whirlwind of sell-offs has persisted on the Nigerian Stock Exchange, thus widen year to date losses to 16% on Tuesday.

Headline Inflation rate jerks up to 12.20% in February. Headline inflation surged 7 basis points (bps) to 12.20% driven by year on year increases in food and core inflation, the National Bureau of Statistics has revealed.

Access Bank realised post-merger synergies, plan presence in major trade hubs

Zenith Bank excites shareholders, declare dividend payout of ₦87.9 billion. Zenith Bank Plc excites shareholders as the financial supermarket declared ₦87.9 billion dividend payout from its earnings.

Market index slides as sell-offs knocked off ₦15bn from local bourse. Market traded under fear of coronavirus as sell-offs knocked of more than N15 billion from the opening market capitalisation on Monday.

COVID-19: CBN hacks rates, creates N50bn facility to support Healthcare, Hotels, Airlines others The Central Bank of Nigeria (CBN) has announced reduction of interest rates in all its intervention facilities from 9% to 5% per annum for one year to ameliorate the effect of coronavirus pandemic. Godwin Emefiele, the CBN Governor made this known while addressing newsmen in Abuja on Monday. Emefiele said the reduction of the interest rates took effect from March 1. He disclosed that the bank has also extended moratorium of all CBN intervention facilities on all principal repayment for one year effective from March 1. The…

COVID-19: Jumia, Reckitt partner to provide consumers access to hygiene products in Africa Jumia, the leading e-commerce platform in Africa has today announced a major partnership with Reckitt Benckiser, the global health products manufacturer to help consumers’ access hygienic products at the lowest price. The partnership is a joint global response against the spread of COVID-19 in 8 of the markets where Jumia operates. In a press release, Jumia stated that the partnership will provide a steady supply of hygiene products such as soap bars, disinfectants, and liquid hand wash at affordable pricing. The two companies recognise that these products…

The Nigerian Treasury Bills market started off with panic sell-offs across the yield curve

Tier-1 Banks Pull ₦775 Billion Profits as Total Assets Hit N30 Trillion. Despite the slow growth in the economic, Tier-1 Banks were able to make the earnings season an impressive one.

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.