Author: Marketforces Africa

Oil Prices Fall Amidst U.S, Colombia Tariffs Hike Contest Oil prices fell during early trading hours on Monday as the U.S. and Colombian governments engaged in a tariff hike contest. The President Donald Trump administration imposed 25% tariffs on Colombia, which is set to increase to 50% in a week after Colombia refused entry to two US military planes attempting to deport illegal immigrants. Trump is also pushing the Organisation of Petroleum Exporting Countries (OPEC) to cut oil prices amidst sanctions against Russian production and oil flows. The global commodities market have become bearish amidst growing fears of a European…

GTCO Keeps Momentum Tight in Equities Market, Crossed N1.8trn Guaranty Trust Holding Company Plc (GTCO) Plc has crossed N1.8 trillion in the equities market as demand for the Tier-1 banking name spiked ahead of earnings release. Data from the Nigerian Exchange revealed GTCO share price hit a new 52-week high of N61.25 on Friday. The Banking Group share price has been on the rise on a steady basis, breaching resistance all through last week in the local bourse. Its 29.431 billion shares outstanding’s market value climbed above N1.8 trillion as strong share volumes exchange hands in the market, mostly in…

$6.7bn Investment in Nigeria’s Energy Sector in 2024 Commendable -TMV The Tinubu Media Volunteers (TMV), on Sunday, said the 6.7 billion dollars investments in the country’s energy sector in 2024 was commendable. In a statement signed by Mr Chukwudi Enekwechi its Chairman, TMV noted that the investment inflow was a consequence of the incentives introduced by the President Bola Tinubu administration. The group referenced a report titled, ‘Presidency Energy Sector Wrap-up 2024,’ released by Mr Olu Verheijen, the Special Adviser to the President on Energy. “It is also observed that 5.5 billion dollars of the amount was invested in the…

Don’t Invest in Risevest, Stecs Cooperative Societies, SEC Warns The Securities and Exchange Commission (SEC) has warned the public against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Ltd. and Stecs (Alausa) Multipurpose Cooperative Society. The commission, in a circular issued on Sunday, said that neither of the entities was registered nor authorised to operate in the capital market. “The attention of SEC has been drawn to the activities of Risevest (Victoria Island) Cooperative Multipurpose Society Ltd., which is engaging in capital market activities by inviting the public to invest in its various investment schemes. “Similarly,…

Fidelity Bank Racks Up Gain Ahead of Earnings Results Fidelity Bank PLC racked up gains as the market anticipates the lender would keep earnings growth stronger in 2025. The Tier-2 banking name saw a price uptick on the Nigerian Exchange trading platform as local investors increased their interest in its shares, with steady climbs. In the equities market last week, Fidelity Bank share price settled at N19.10 on Friday, from N17.6 due to healthy trading volumes recorded on the buy side actors. Investors demand for Fidelity Bank in the past seven trading sessions pushed the lender’s market valuation above N611…

Airtel Africa Flatlined in Nigerian Market at N8.1 Trillion Airtel Africa is worth N8.10 trillion in the equities market, according to the latest data obtained from the Nigerian Exchange (NGX). Its share price and, by extension, market value of the telco company have flatlined since last year. The telecom company shares trading activities in the local bourse tempered after share buyback from minority or non-controlling interest shareholders in Nigeria, an approach to stem price volatility. With thin transactions of as low as 50 units in the local bourse, Airtel Africa share price has been static despite positive expectations brought about…

MTN Nigeria Plc share price increased in the equities market as market priced in the latest tariff hike in the industry. On Friday, MTN Nigeria share price settled at N247.90, up by about 6.4% from N233 at the beginning of the week.

Amidst a plan to raise additional capital, Nigerian local lender, Wema Bank Plc, experienced a moderate price decline over the last five trading sessions in the equities segment of the Nigerian Exchange (NGX).

Moody’s Upgrades Kenya’s Rating Outlook to Positive Moody’s Ratings has changed the Government of Kenya’s outlook to positive from negative and affirmed the local and foreign-currency long-term issuer ratings and foreign-currency senior unsecured debt ratings at Caa1. The change in outlook to positive is driven by the increasing likelihood of Kenya’s liquidity risks easing and debt affordability improving over time, Moody’s said. The country’s domestic financing costs have started to decline amid monetary easing and could continue to do so if the government sustains its more effective management of social demand and fiscal consolidation. Moody’s analysts said such a track…

Oil Prices Decline over U.S Energy Emergency Policies Oil prices ended the week in a bearish position amidst uncertainties and negative impacts of U.S. energy policies in the global commodities market. Analysts noted that US President Donald Trump’s new energy policies, which include increasing fossil fuel production and lifting offshore drilling bans, would affect price movement. Also, the Middle East ceasefire agreement between Israel and Hamas calmed down supply-side risks Brent crude traded at $77.97 per barrel on Friday, while West Texas Intermediate (WTI), the American benchmark, traded at $74.89 a barrel. Oil prices have generally declined throughout the week…