Author: Marketforces Africa

UBA Dominates Bankers Award, Emerges as Africa’s Bank of the Year Africa’s Global Bank, United Bank for Africa (UBA) Plc, has once again, reaffirmed its leadership as one of the continent’s most innovative and resilient financial institutions, after the bank, for the third time in five years, emerged, African Bank of the year 2025 by the Banker.com. UBA also won the Best Bank of the Year awards in nine of its 20 African subsidiaries, bringing its total awards this year to ten as UBA Benin, UBA Chad, UBA Republic of Congo (Congo-Brazzaville), UBA Liberia, UBA Mali, UBA Mozambique, UBA Senegal,…

Central Bank Reduces Bureax De Change Operators to 82 The Central Bank of Nigeria (CBN) has granted final licenses to 82 Bureaux De Change (BDCs) to operate with effect from Nov. 27, 2025. A statement issued in Abuja on Monday by Mrs Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, stated that the exercise was in line with its powers conferred under the Bank and Other Financial Institutions Act (BOFIA) 2020. According to Sidi-Ali, it is also an enforcement of the Regulatory and Supervisory Guidelines for BDC Operations in Nigeria 2024, “By this notice, only BDCs listed on the Bank’s…

Oil Rallies Ahead of U.S. Federal Reserve Rate Decision Oil rallies; prices increased in the global commodity market ahead of the US Federal Reserve rate decision on Monday.  The market expects the US Fed to cut interest rates cut — which could support economic growth and bolster energy demand – along with ongoing geopolitical risks affecting Russian and Venezuelan supply. Brent crude was trading at $63.72 per barrel, up around 0.1% from the previous close of $63.64. US benchmark West Texas Intermediate (WTI) also increased by about 0.1% to $59.99, compared to $59.93 in the prior session. Market expectations for…

Fidelity Bank Rises as Investors Take Positions Ahead of Q4 Nigeria’s leading tier-2 lender, Fidelity Bank Plc, shareholders’ sentiment improved after the Nigerian lender released its earnings scorecard for the first half and third quarter of 2025. The bank’s 50.212 billion shares outstanding were priced at N964.074 billion on Friday close, recording a N10.042 billion weekly gain, supported by shareholders’ improved sentiment over Q4 earnings outlook. Its share price rose to N19.20 amidst increased trading activities, reflecting transactions among influential shareholders ramping up positions in anticipation of stronger Q4 earnings. The price appreciation occurred as trading data showed that more…

Dangote Cement Boosts Shareholders’ Value, Gains 15% Dangote Cement Plc gained 15% week on week as shareholders stepped up buying actions on the Nigerian Exchange (NGX) trading platform as sentiment improved. In the absence of a new regulatory disclosure posted on NGX, stockbrokers said nothing fundamentally changed, saying the swing was driven by investors’ sentiment over the company’s earnings outlook. The cement company share price closed at N614.90 on Friday’s close as 234,469 units valued at about N147 million were traded in the local bourse. With the steep positive price movement, the market value of Dangote Cement Plc’s 16.873 billion…

Shareholders Gain N2.43tn as Industrial, Banking Names Rally Shareholders across listed companies trading highs and lows in the Nigerian Exchange (NGX) gained N2.43 trillion as industrial and banking indices led others in the weekly rally. The market regained stability after a prolonged period of decline, extending its bullish momentum for four trading sessions and recording significant gains. The NGX All-Share Index closed at 147,040.26 points, up 2.45% week-on-week, reflecting a renewed investor confidence following weeks of intensified profit-taking. Stockbrokers said the positive sentiment lifted total market capitalisation by 2.67% to N93.72 trillion from N91.29 trillion the previous week, adding N2.43…

MSCI Launches Breakthrough Index Integrating Public Markets, Private Equity MSCI Inc. (NYSE: MSCI) launched the MSCI All Country Public + Private Equity Index, an innovative daily index that combines public markets and a broad private equity view within a single, coherent framework. In an official statement, MSCI said the launch marks a major shift in how investors can assess total equity exposures and measure performance across their portfolio. With private markets increasingly integrated into investment portfolios, private equity is becoming a core component of total portfolio allocation, contributing to diversification, long-term return potential and exposure to segments of the economy…

Crude Oil Market Closes Bearish over Weak U.S Demand Oil market closed bearish this week, pressured by signs of weakening demand in the US, Washington’s technical easing of sanctions on Lukoil’s overseas operations, and continued uncertainty surrounding the Russia-Ukraine peace efforts. Brent crude traded at $62.99 per barrel, down 0.4% from last Friday’s close of $63.24. US benchmark West Texas Intermediate (WTI) was at $59.30 per barrel, falling around 0.2% compared with $59.43 last week. The US Energy Information Administration (EIA) reported that commercial crude inventories rose by 600,000 barrels last week to 427.5 million barrels, defying expectations for a…

Liquidation: Dantata & Sawoe Pays $1.4m Dangote Project Debt–Lawyer Mr I.I. Okim, lawyer to Dantata & Sawoe Construction Company Limited, has said that the company has finally paid in full the $1.4 million owed to Zutari Consulting Nigeria Ltd for subcontract work on the Dangote Fertilizer Plant project in Lekki, Lagos. Okim made this known in a motion on notice filed before Justice Mohammed Umar of the Federal High Court in Abuja on Dantata & Sawoe’s behalf. Justice Umar had, on Wednesday, appointed a liquidator for Dantata & Sawoe over its failure to pay the $1.4 million project debt. The…

Stock Recommendation: Zenith Bank, MTN Among Top 10 Pick for Dec. Zenith Bank, MTN Nigeria and eight other companies with upside potential are among the top 10 stocks recommended by CSL Stockbrokers Limited to buy in December. In December, the Nigerian equities market is expected to exhibit moderate upward momentum, driven by renewed investor confidence and typical year-end portfolio rebalancing, the investment firm said in its stock guide. In its investors guide, CSL Stockbrokers noted that the country’s improving macroeconomic outlook is also likely to reinforce confidence among institutional investors thereby supporting a further strengthening of market sentiment towards year-end.…