Author: Marketforces Africa

Emerging Markets to Face Middle East War Repercussions – S&P S&P Global Ratings said its macroeconomic baseline scenario for emerging markets (EMs) assumes war in the Middle East persists into early April, and its negative impact on energy prices and financial conditions is temporary. However, the downside risks to the baseline macroeconomic scenario are significant and subject to the evolution of the conflict, which is highly uncertain. A longer and more severe conflict than expected would increase inflation substantially, put upward pressure on interest rates, and lower GDP growth for most Ems, S&P said. Net energy importers, which are mostly…

GCR Revises GLNG Funding SPV Rating Outlook to Negative GCR Ratings has affirmed the national scale long-term and short-term issuer ratings of BBB(NG) and A3(NG), respectively, assigned to GLNG Funding SPV Plc, with the outlook revised to Negative, from Stable previously. The SPV is a non-operating special purpose vehicle established solely to raise capital through the issuance of debt instruments on behalf of its two underlying entities, Green Fuels Limited (GFL) and Green Liquefied Natural Gas Limited (GLNG). As such, the assigned ratings reflect the integrated credit profile of GFL and GLNG, GCR stated. “The revision of the outlook on…

Zenith Bank Names Kennedy Okwudili Executive Director In a bold move to boost its board, Zenith Bank Plc has announced the appointment of Mr Kennedy Onuwa Okwudili as an Executive Director of the bank, effective May 1, 2026. According to an official statement, the appointment, which is consistent with the bank’s tradition and succession strategy of grooming leaders from within, will further strengthen the bank’s Executive Management. Mr Okwudili graduated with a Bachelor of Science (Honours) in Accounting in 1998 from the University of Maiduguri, Nigeria, with a Second Class Upper Division. He obtained a Masters of Business Administration (MBA)…

NDCC Chamber of Commerce Targets $5bn Investment, Jobs in Niger Delta The Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA) says it plans to attract $5 billion in investment to generate more than 500,000 jobs in the Niger Delta region. The Board Chairman of NDCCITMA, Mr Idaere Ogan, made this known during a media briefing with journalists on Monday in Port Harcourt. Ogan said the briefing was intended to inform the public about the forthcoming Niger Delta Economic and Investment Summit (NDEI Summit), scheduled for May. He explained that the initiative would be implemented through a structured…

U.S. President Donald Trump has postponed any military strikes on Iranian power plants and energy infrastructure for five days following “productive conversations” with Iran.

XRP Price Climbs as Profit-Taking Slows Ripple (XRP) gained 2% over 24 hours, trading at $1.41 as profit-taking by retail investors eased on Monday, according to crypto market trading data. XRP is navigating a clash between improving regulatory fundamentals and deteriorating short-term market structure, with macro fears amplifying the sell-off. The altcoin gain closely tracked Bitcoin’s 2.74% rise over the same period, indicating the move was driven by broader market sentiment rather than a coin-specific catalyst. The total crypto market cap rose 2.31%, suggesting a risk-on bounce from recent fear levels. XRP’s price action remains heavily influenced by Bitcoin and…

UK government bonds are sliding sharply, with yields surging past levels last seen during the fallout from the downfall of former Prime Minister Liz Truss, raising fresh concerns that an energy-driven shock is rapidly evolving into a broader problem for the government and UK households and businesses.

Nigerian Listed Companies Value Jumps by N1.77trn to N127.36trn The combined value of Nigerian listed companies jumped by N1.77 trillion week on week to N127.36 trillion, according to trading data from the Nigerian Exchange (NGX). The stock market maintained its upward momentum for a third consecutive week, despite trading only three sessions due to public holidays for Eid al-Fitr on March 19 and 20, 2026. Gains were driven primarily by strong activity in the industrial goods and banking sectors, according to stockbrokers. The NGX All-Share Index rose 1.39% week-to-date to 201,156.86 points, while market capitalisation increased by the same margin…

Oil Climbs as U.S. Threatens to Attack Iran’s Power Plant Oil prices rose on Monday, fueled by U.S. President Donald Trump’s threat to attack Iran’s power plants if the country does not reopen the Strait of Hormuz within 48 hours. International benchmark Brent crude was trading at $108.71 per barrel, up 2.2% from its previous close of $106.41. U.S. benchmark West Texas Intermediate (WTI) rose by 2.3% to $100.48 per barrel, compared to $98.23 in the previous session. The ongoing U.S.-Israeli military campaign against Iran has entered its 24th day, with reports indicating that the conflict may last longer than…

Group Executive, e-Business and Retail Products at FirstBank, Mr Chuma Ezirim, says the bank remains committed to supporting small and medium-scale enterprises (SMEs) with practical guidance to help them grow sustainably.