Author: Marketforces Africa

Geregu Power Plc retained its #2.5 trillion market valuation months after the stock price peaked at N1000. The company came to the local bourse by way of introduction at N100 per share in Oct 2022, with 2.5 billion shares outstanding – Now, nothing appears to be moving the stock price : earnings and deal have no impacts.

Oil Dips Below $80 Despite OPEC+ Supply Cut Extension

By the end of 2025, nearly half the population of Africa will have engaged in buying goods and services online, compared to just 13% in 2017, according to latest report from title ‘Payment and E-commerce in Africa’ released by Nikulipe.

The Nigerian naira reclaimed small of value it has lost in the currency market on Monday. The Nigerian naira closed the trading session on the positive on Monday, appreciated by 0.66% to #1476.12 per unit of US dollar at the autonomous FX market.

Equities investors lost about N103 billion on Monday as Nigerian Exchange (NGX) opened the week negative. The local bourse halted last session’s winning streak as investors lost N102.55 billion, following sell-offs in Tier-one banking stocks and cautious trading.

NDIC Begins Liquidation of Heritage Bank, to Pay Depositors The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank, assuring it will pay depositors of the failed bank N5 million in insured deposits, it said in an official statement. Following the revocation of the banking license of Heritage Bank Plc by the apex bank, the Nigeria Deposit Insurance Corporation (NDIC) was appointed as the liquidator, pursuant to Section 12(2) of BOFIA, 2020. Reacting to the development, the NDIC said in a statement that it has commenced the liquidation of the failed bank.  “In accordance with Section 55…

Tritek Consulting, a leading tech consulting firm founded in Nigeria, has announced its expansion into the United States and Canada. This strategic move

Flour Mills of Nigeria Plc reported more than 99% year on year decline in profitability in 2024, details from its audited financial statement showed. The consumer goods company’s net profit came at N3.45 billion from N29.5 billion in the comparable year in 2023, according to food producer’s audited report for the year.

May, 2024 data pointed to a pick-up in growth in the Nigerian private sector, with both output and new orders increasing at sharper rates than in April,

Zenith Bank Plc has been rated buy by Investment firm, Afrinvest Limited in its latest stock recommendation. Analysts have set N41.70 target price for Zenith