Author: Marketforces Africa

Ghana Gets Access to $360m IMF Loan after Review Ghana has obtained access to an additional $360 million loan from the International Monetary Fund (IMF) following the completion of the third review of the country’s 36-month Extended Credit Facility Arrangement. IMF completed the third review of the US$3 billion, 36-month Extended Credit Facility (ECF) Arrangement, which was approved by the Board in May 2023. Completion of the third ECF review allows for an immediate disbursement of SDR 269.1 million, or about US$360 million, bringing Ghana’s total disbursements under the arrangement to about US$1.9 billion, the IMF said. According to IMF,…

The naira traded steady against the US dollar on the first trading session using the Bloomberg BMatch system due to sufficient FX liquidity to fill orders.

Lafarge Africa Hits 52-Week High on Holcim, Xuaxin $1bn Deal Equities investors rushed to acquire more of Lafarge Africa’s (Ticker: WAPCO) shares following notice of the acquisition of the entire Holcim’s interest in the company. Trading now at a 52-week high in the equities market, the cement company share price rose by 10% to N63.80 at the beginning of the trading week from N58 on Friday. The sudden demand for the cement company shares was triggered by the expectation of a mandatory offer to minority shareholders. Lafarge Africa Plc market has rose sharply to N1.027 trillion for the first time…

DMO Offers 2 Savings Bonds in December The Debt Management Office (DMO), has offered two Federal Government of Nigeria (FGN) savings bonds for subscription in December. The DMO said on Monday that the first offer was a two-year FGN savings bond due in Dec. 11, 2026, at interest rate of 17.483 per cent per annum. The second offer was a three-year FGN savings bond due in Dec. 11, 2027 at interest rate of 18.483 per cent per annum. “Opening date is Dec. 2, closing date is Dec. 6, settlement date is Dec. 11, and coupon payment dates are March 11,…

The Nigerian Exchange (NGX) market capitalisation rose by about N138 billion on Monday as Lafarge Africa, VFD Group rallied among others.

Sell pressure on Bitcoin, Ethereum, and others has plunged cryptocurrencies market value downward as investors mood changed. The trading pattern in the last one to two hours revealed a negative mood in the cryptomarket.

December Presents Ongoing Opportunities for Investors -CEO December is likely to provide compelling opportunities for investors to continue putting new money into the market, says the CEO of one of the world’s largest independent financial advisory and asset management organizations. deVere Group’s Nigel Green’s bullish analysis is driven by recent stock market momentum, historical trends, and the economic direction under President-elect Donald Trump. He says: “With equities already delivering an exceptional year, and a typically strong December ahead, the stage is set for further gains. “Wall Street has been on a remarkable run, pushing to 54 new highs throughout 2024,…

Oil Prices Jump on Positive Demand Outlook in China Oil prices edged higher in the global commodities market on Monday over a positive demand outlook in China, one of the world’s second-largest oil consumers. Brent crude futures climbed 8 cents, or 0.1%, to $71.92 a barrel, while U.S. West Texas Intermediate crude was at $68.09 a barrel, up 9 cents, or 0.1%. The price surge was also supported by renewed tensions in the Middle East as Israel and Lebanon trade blame on violations of agreement in ceasfire deal. Reports revealed that Israel resumed attacks on Lebanon, stoking tensions in the…

Employment is down for the first time in seven months as Nigeria’s inflation rate hampered private sector growth

Trading activities on the Nigerian government bonds tempered in the secondary market as investors anticipated huge bonds supply in 2025.