Author: Marketforces Africa

Stanbic Bank, EIB Launch €20m Credit Line for Women Entrepreneurs The European Investment Bank (EIB Global) and Stanbic have launched a €20 million (ZWG 525.9 million) credit line, to provide longer-term loans at favourable conditions to small and medium-sized businesses (SMEs) in Zimbabwe. The facility will focus on SMEs and businesses owned or run by women, which employ a significant number of women, or which offer services specifically to women. The African continent has one of the highest percentages of women entrepreneurs in the world. More than half the SMEs in Zimbabwe are led by women, while over half of…

Top Reasons to Invest in Ghana’s Mining Industry Ghana’s mining industry stands as a key driver of economic growth – with gross domestic product (GDP) projections reaching 1.5% by 2025 fuelled by expanding opportunities within the sector. A stable political and business environment, coupled with the discovery of new mineral reserves and a well-established mining ecosystem, Ghana is an attractive investment destination for global mining institutions. The upcoming Mining in Motion Summit, taking place in Accra on June 2 – 4 will further highlight lucrative investment opportunities, connecting Ghanaian stakeholders with international financiers and technology providers to enhance collaboration across…

Canada imposes retaliatory tariffs on U.S. imports The Canadian Prime Minister,  Justin Trudeau said on Tuesday that Canada would impose 25-per cent tariffs on 155 billion Canadian dollars (about 107 billion U.S. dollars) worth of U.S. goods. According to Trudeau, this will happen if the United States proceeds with its proposed tariffs on Canadian products. Trudeau made the remarks after the U.S. President, Donald Trump told reporters earlier on Monday that 25-per cent tariffs on Canadian and Mexican imports would start on Tuesday. Canada would begin with a 25-per cent tariff on 30 billion Canadian dollars worth of U.S. goods,…

Top 5 Performing Stocks in Equities Market The Nigerian Exchange ended trading session negative on Monday, but these top five stocks, including NGX Group, Learn Africa, Tantalizer, ABC Transport and Champion Breweries Plc, bucked the trend. The Nigerian Stock Exchange (NGX) has witnessed significant movements over the past week. While the All-Share Index (ASI) ended February on a positive note, the first trading day of March saw a slight decline. Despite this, several stocks have recorded impressive gains, making them potential investment opportunities. Prices are expected to adjust further as investors continue to increase their bets on their respective earnings.…

United Capital Records 111% Profit Growth in 2024 United Capital Group has reported a 111 percent rise in profit after tax (PAT) for 2024, reaching N24.10 billion. The company disclosed this in a corporate statement released via the Nigerian Exchange Ltd on Monday. The group’s dividend payout also increased by 33 per cent, rising to N14.4 billion. Board Chairman, Prof Chika Mordi, stated that Profit Before Tax (PBT) grew by 74 percent year-on-year to N30.10 billion, while PAT climbed to N24.10 billion. Mordi also revealed that the group’s total assets surged by 83 percent year-on-year to N1.70 trillion, with shareholders’…

Yield on Nigerian Bonds Increases by 4bps to 18.57% The average yield on Nigerian government bonds climbed by four basis points (4 bps) to 18.57% at the beginning of the week as investors reduced their holdings. The economic growth, slowdown inflation, and high end benchmark interest rate have fuelled increased demand for the naira assets. A slew of analysts believe that investors have started to take positions in the debt capital market due to inflation-protected returns on investments. In a chat, LSIntelligence Associates said high-net-worth individuals seeking to protect their wealth will start finding fixed-interest securities more appealing compared with…

Tantalizer Rises by 10% as Investors Sentiments Improve Tantalizer Plc saw a significant price uptick of about 10% in the equities market, reflecting investors’ confidence in the intrinsic value of the quick restaurant service provider.  In the recent past week, Tantalizers PLC has demonstrated remarkable resilience in the Nigerian Exchange. Its 5 billion outstanding shares were priced at N10.4 billion in the equities market on Monday following a 9.47% positive price movement.  In 2025, Tantalizer has maintained a positive trajectory, reflecting increased investor confidence and strategic market positioning. The share price of the Quick Restaurant Service player’s has experienced a…

Court Adjourns FIRS $79.5 billion Suit Against Binance The Federal High Court in Abuja on Monday, adjourned the suit filed by the Federal Inland Revenue Services (FIRS) against Binance Holdings Ltd, demanding 79.5 billion US dollars over economic losses allegedly caused by its operations in Nigeria, until April 7. The matter, which was on number 9 on the cause list, could not proceed before Justice Inyang Ekwo. The development occured after some cases had be heard by the judge before he went on recess. The News Agency of Nigeria (NAN) reports that the FIRS ha, in the suit marked: FHC/ABJ/CS/1444/2024,…

The equities market opened the week on a negative note as investors continued to dump stocks amidst the 2024 earnings festival in the local bourse. However, key performance indicators showed mixed outcomes. The Nigerian Exchange (NGX) All Share index  fell 0.34% to settle at 107,455.13 points on the back of sell pressures in INTBREW (-5.66%), UCAP (-9.91%), ACCESSCORP (-2.54%), and FBNH (-3.24%).

Ecobank, Oando Drive Intraday Gain on NGX Ecobank, Oando and other early risers are currently driving the Nigerian Exchange All share index higher in the local bourse. The market has been heated up with strong bargain hunting in banking stocks, and others following a downturn last week. Investors are making fresh entry into stocks which had lost some value due to profit taking activities. Last week, sell side actors offloaded relatively priced stocks amidst positive real return in the fixed income space. But stockbrokers are looking towards the renew entry of bullish investors as prices of growth, value stocks have been affected…