Author: Marketforces Africa

What distinguishes executives that are performing is not quality of strategy alone. More often than not, it is their leadership quality that makes the difference. There is no business without human faces, running and implementing ideas, strategies. While strategies are designed at corporate level, some people are responsible to implement or execute it. Corporate empathy, quality human relations key to business success. Fact is, executives that are succeeding have lowered down corporate wall to be able to relate with subordinates. Some companies are removing the tall barrier, like using the word “sir” in addressing each other. They say it is…

Stock market opens on negative note on Monday as the all share index nosedived 16 basis points. The domestic bourse closed in the red, starting the week on a bearish note as DANGCEM (-1.6%), UBA (-4.6%) and FBNH (-3.3%) pushed the All Share Index (ASI) 16bps lower to settle at 29,518.85 points. Consequently, investors’ wealth reduced by N17.7 billion as market capitalisation closed at N11.1 trillion while YTD return further declined to -6.1%. In the same vein, activity level weakened as volume and value traded shed 4.6% and 12.2% to 224.2 million units and N1.8 billion respectively. The top traded by volume were SOVRENINS (45.7 million units),…

Five consecutive quarters growth fails to rebuild purchasing power

FBNQuest, one of the leading merchant banks, has estimated average Nigerians spending capacity at $50 per month. In its recent analysis on the economy, FBNQuest is of the view that inflationary pressure has contributed to the subdued spending, say food inflation has remained high. Analysts said that although Nigeria’s economy has posted growth in the past five quarters, household wallets have not necessarily been re-built and so purchasing power remains low. In 2018, gross domestic products (GDP) per capita was US$1,930. However, this could be misleading given the skewed wealth distribution in the country. “The average Nigerians spending capacity…

CBN may not revisit FX policy in the near term The nation’s external reserve went up by $2.1 billion in the month of March on the back of stability in the global price of oil. For most part of the month, oil price stayed at around $60 per barrel with production volume moving below budget. The nation plans to be producing minimum of 2.3 million barrels of oil per day to finance fiscal year 2019 budget. However, inconsistence around supply chain has consistently against the target as the nation’s daily production hovering below 2 million barrels of oil per day.…

  The minister of Finance, Zainab Ahmed, has said that more funding will be given to the Nigeria Sovereign Investment Authority, from the country’s oil windfall savings. She was speaking on the sidelines of the IMF’s spring meetings in Washington DC. The excess crude account contains monies from Nigeria’s oil windfall savings. One billion dollars seed capital from the account was used to start the Nigeria Sovereign Investment authority in two thousand and eleven. The agency has been involved in managing and investing these funds for the country. Nigeria’s finance minister now says government intends to improve on the investment authority’s…

 For Zenith and GTB Plc, making profit has become a culture, there is no bank that is as profitable…

Fiscal, Monetary authorities converging policy to reduce debt cost

“We advocate a hike in tax rate”, FBNQuest

Ecobank Transnational Incorporation has injected $64 million into its Nigerian unit in a bid to raise its capital ratio above the central bank’s regulatory minimum of 16 percent, the Africa-focused bank said on Monday. At the CBN official rate, this translate to about N20 billion at the time when capital base stands at N25 billion. The move comes after a decision in November to adopt a different exchange rate for the naira to the one supported by the central bank affected its capital ratio. In the recent time, the Central Bank of Nigeria (CBN) disclosed that the Capital Adequacy Ratio…