Author: Marketforces Africa

VFD group has announced the appointment of Adewunmi Mobolaji as the new Executive Director, Finance for the group. The statement was made known by the Chief Executive Officer, Nonso Okpala. Okpala said; “I am delighted to announce the appointment of my friend, brother and business partner Adewumi Mobolaji as an Executive Director, Finance of VFD Group. By way of introduction, Bolaji- as he is fondly call by friends and associates -was one of the founding shareholders of PremiumGreen Limited (a major investor in VFD Group) and very instrumental when both companies began over 10 years ago. He said; “during our…

Tier 1 banks pull more than 70% of market share

Economic, Financial Review for the week

Olam International, a food and agri-business operators is set to acquire full ownership of Dangote Flour Mills Plc (DFM), a flour and pasta manufacturer in Nigeria, for US$ 361 million, amid growing demand for bakery and snack foods in the country.

GTI Capital has said that equity derivative would signal Nigeria markets are moving

As a result, the market capitalisation inched to N11.3tn as investors’ wealth increased by N84.4bn. Nevertheless, activity level weakened as volume and value traded declined 32.8% and 30.7% to 216.0m units and N3.2bn respectively. The top traded stocks by volume wereACCESS (39.2m units), UBA (24.2m units) and LASACO (20.8m units) while the top traded stocks by value were NESTLE (N1.5bn), ZENITH (N342.5m) and GUARANTY (N311.6m). Mixed Sector PerformanceThe sector performance was mixed albeit negatively skewed as 3 out of 5 indices under our coverage declined. The Oil & Gas index shed the most, down 1.4% due to sell-offs onSEPLAT (-3.4%). In the same vein, the Industrial Goods and Banking indices dipped 0.4%…

Food prices rose in Kogi, Plateau and Lagos in the month of March as headline inflation rate declined 60 basis points to close at 11.26%. The consumer price index, (CPI) which measures inflation increased by 11.25 percent (year-on-year) in March 2019, the Nigerian Bureau of Statistic notified in its recent report. The change is 0.06 percent points lower than the rate recorded in February 2019 when inflation rate rested at 11.31 percent. Increases were recorded in all 12 Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index. NBS report shows that on month-on-month basis, the headline…

Diversifying the government’s revenue base, increasing non-oil revenues, and securing oil revenues, will all be critical, says the IMF in its latest economic health check of sub-Saharan Africa’s most populous economy. “Identifying two or three big-ticket items could lift revenue sustainably and in a timely manner—other reforms could follow,” said Amine Mati, IMF mission chief and senior resident representative in Nigeria. Challenges of a global dimension According to the report, public services and infrastructure in Nigeria are under considerable strain. Globally, Nigeria ranks first in the number of children out of school. Infant mortality is also high: 12 percent of all…

Some economic experts have said that the current economic policy insufficient to boost growth. This reaction came on the hind of the International Monetary Fund (IMF) report on Nigeria’s economy last week.  Afrinvest in its analysts review said; “The report is largely consistent with our views on the direction of the economy and the need for structural reforms to boost growth and investment. Analysts said they discovered IMF increasing focus on human capital, similar to the World Bank’s last Bi-Annual update on Nigeria in October 2018. Investment in human resources is at its lowest as Nigeria continues to losing best brains…

If you want to be successful in China’s booming retail market, you have to be flexible in your approach and decisive when entering the market Everybody’s talking about China. And everyone wants to quickly enter the largest e-commerce market in the world these days. This is the right attitude, because if you want to be successful in China, you have to be flexible and often very fast. The country offers great potential, especially for international retailers and brands. But one thing should be clear to everyone who wants to expand their business to China: what works in Europe or in…