Author: Marketforces Africa

Bitcoin Hits Fresh Low as Crypto Market Bleeds The trading price of the world’s largest digital asset, Bitcoin, fell sharply on Monday to hit a new low in 2025 amidst global uncertainty that is pushing investment interest towards safe haven investments. The sell pressures on top cryptocurrencies have a negative impact on the market value of all listed digital assets in the market today. Data showed that the global crypto market cap declined by 2.34% in the last 24 hours to settle at $2.5 trillion. The total crypto market volume over the last 24 hours spiked to $233.19 billion with…

US Dollar Mixed Against Trading Pairs in FX Markets The US dollar was mixed against its major trading partners early Monday — up versus the pound and Canadian dollar, down versus the euro and yen — with markets focused on March inflation data scheduled to be released later in the week. There was no clear catalyst in data or market events, and the USD rebound seems to be more related to the unwinding of short positions. A quick summary of foreign exchange activity showed that USDEUR rose to 1.0961 from 1.0950 at the Friday US close but was below a…

African Businesses Secure 487 VC Deals in 2024—Report Amidst rising needs for fundraising, Africa’s entrepreneurs’ ecosystem secured 487 deals from venture capitalists valued at $3.6 billion, the African Private Capital Association, AVCA, said in a report, saying the total deal closed accounted for less than 1% of global capital raised. In its Venture Capital in Africa report, AVCA expressed that funding has slowed; venture capitalists (VC) have pumped about $50 billion into the African investment ecosystem over a decade.  Last year, Africa’s venture capital ecosystem registered double-digit declines that outstripped all other regions in scale amidst a mixed global recovery.…

CBN Sells N5.5trn T-Bills in Q1, Rejects Bids worth N9.7trn In the first quarter of 2025, the Central Bank of Nigeria (CBN) sold N5.53 trillion worth of Treasury bills to investors amidst rising appetite for naira assets. The total amount of bills allotted to investors accounted for about 36.4% of all subscriptions received at the eight primary market auctions conducted in the first three months of the year. Investors staked N15.20 trillion across eight Treasury bills auctioned by the Debt Management Office on behalf of the CBN. A total of N9.67 trillion worth of bids submitted were rejected. The amount…

Oil Dips to $63 after US Launches Global Trade War Oil prices dipped to $63 per barrel on Monday in the global commodity market after the US launched a global trade war last week. Also, the Organisation of Petroleum Exporting Countries and allied members (OPEC+) plan to increase output, which is expected to create excess supply at the time the Chinese economy is struggling. The global trade war will affect demand for crude oil in the coming days, analysts said at a forum while Saudi Arabia plans to cut May oil prices to Asia. Brent crude fell by around 3.8%,…

Nigeria’s Eurobonds Yield Inches Near 11% over Sell Pressures The average yield on Nigeria’s sovereign Eurobonds spiked to about 11% at the international market as foreign portfolio investors and other asset managers trimmed their holdings amidst surging demand for safer investment assets. With the U.S. protectionist stance, investment experts said there is a need to redefine globalisation of trade as 180 countries face higher tariffs under the President Donald Trump administration. Last week, risk-off sentiment dominated Nigeria’s sovereign Eurobonds market across short-, mid-, and long-term maturities, driven primarily by investor sell-offs in the September 2028 and March 2029 bonds. African…

Short-term Interest Rates Fall on Robust Banking System Liquidity Short-term benchmark interest rates fell as robust liquidity in the banking system reduced funding pressures in the money market. The financial system was awash with funds following a flood of inflows, which caused banks to stay off the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF). In its market update, Cowry Asset Limited said liquidity balance in the financial system was supported by a net inflow of N1.53 trillion. The inflows were largely driven by N651.7 billion from OMO bills maturities. On the downside, the market recorded outflow from the…

Oando Dives, Trades at 57% Discount to 52-Week High Indigenous energy company, Oando Plc, lost an additional 13.13% of its market value in the last three trading sessions to close at N522.12 billion in the equities market on Friday, according to data from the Nigerian Exchange. Reflecting its shareholders sentiment, the group’s valuation dropped sharply, down by 16% over the last seven trading session as investors continue to exit their positions despite build up in earning generating capacity of the energy companies in the recent years. In March, the oil and energy stock plunged by 16.7% as investors took profit…

Fidelity Bank Hits N1trn Ahead of Dividend Payment in April With about 5% price appreciation in the last seven trading sessions, Fidelity Bank Plc’s market value rose above N1 trillion due to a mild rally on the financial services company’s stock on the Nigerian Exchange (NGX) trading platform. Data from the local bourse showed that the Tier-1 lender share price surged to N19.95 on Friday as more than 22.585 million valued at N441.648 million exchanged hands in the market. At the going market rate, the bank’s share price is trading at a moderate discount of 5.67% to its highest price…

NIDF Announces N5.43/Unit Profit Distribution to Investors for Q1 Nigeria Infrastructure Debt Fund (NIDF) has announced first quarter of 2025 profit distrubition of N5.43 per unit to unitholders, according to a regulatory filing, revealed plan to raise additional capital. The fund said it obtained approval from the Securities and Exchange Commission and commenced its capital raise for Series 11. NIDF is seeking N40.08 billion in the current capital raise, saying it had a diversified portfolio of 28 investments. In the equities market, the share price of the Fund was flattish at N111.7 in the last seven trading session. The market…