Author: Marketforces Africa

Risk-Off Sentiment: Nigeria’s US Dollar Bonds Yield Rises to 7.7% Foreign portfolio investors (FPIs) trimmed their Nigeria US dollar bond holdings at the international market on Thursday as risk-off sentiment greeted the US government reopening. Investors started to weigh their position as markets anticipate US authority will begin to release pending economic data in post-shutdown actions. Nigerian Eurobonds softened, with yields expanding 8bps to 7.71%, investment firm Cowry Asset Limited told investors in its market update. Market analysts said this upward movement signals heightened risk-off sentiment and potential capital repatriation, as investors recalibrate their exposures and re-evaluate Nigeria’s sovereign risk…

Oil Prices Increase as Demand, Supply Outlook Shifts Oil prices climbed on Friday amidst shifting demand and supply outlook across the global commodity market. New data from the International Energy Agency (IEA) pointed to a modest upward revision in global oil demand and a decline in supply projections. Meanwhile, Russia-Ukraine war continued to inject uncertainty into global energy markets. Brent crude was trading at $63.56 per barrel, up 1.4% from the previous close of $62.68. The US benchmark West Texas Intermediate (WTI) also increased by about 1.5% to $59.45, compared to $58.55 in the prior session. The IEA lifted its…

Naira Upswings as U.S Dollar Supply Covers FX Demand The Naira rebounded by 11 basis points, or ₦1.64, to close at ₦1,441.4445 per U.S. dollar, having traded within a range of ₦1,539.35/$ and ₦1,437.00/$ during the session. The spot FX rate decline was driven by unmet demand from the previous session as the US dollar supply remained thin.  Nigeria’s gross external reserves rose by more than $30 million day on day to close at $43.427 billion as of November 11, 2025.  The naira to remain at similar level amid robust external reserve despite crude oil price fluctuation in the global…

Kenyan Banks’ Impaired Loan Ratios to Remain Elevated in 2026 Kenyan banks’ impaired loan ratios will remain elevated in 2026 due to large outstanding public-sector arrears, Fitch Ratings says. However, the banking sector’s high pre-impairment operating profit is sufficient to comfortably absorb loan impairment charges while allowing for capital accretion and increased loan growth. According to Fitch, the rise in the Kenyan banking sector’s impaired loans ratio from 6.8% at end-2015 to a peak of 17.6% at end-1H25 has been heavily influenced by large public-sector arrears to contractors and service providers. From end-1H05 to end-1H22, these totalled KES664 billion or…

Senate Approves Informal Sector Employment Regulation Bill The Senate, on Wednesday, approved the Informal Sector Employment (Regulation) Bill, 2025. This was sequel to the consideration and adoption of the report of the Senate Committee on Employment, Labour and Productivity at plenary. Presenting the report, Chairman of the Committee, Sen. Diket Plang noted that the bill was sponsored by Sen. Sani Musa (APC-Niger). He said that the bill sought to provide for the documentation, protection, regulation of domestic workers, apprenticeships, interns and other informal sector employees in Nigeria. “This is to be enforced and implemented by the Federal Ministry of Labour…

UAE Bank Loan Growth Accelerates; Overseas Operations Strengthen UAE banks’ loan growth gathered pace in the third quarter of 2025 (3Q25), supported by a strong domestic operating environment, healthy liquidity conditions, and higher overseas lending by larger institutions, Fitch Ratings says. Fitch expects international operations at large UAE banks to continue expanding in 2026. This will be supported by strong demand from Saudi Arabian borrowers, due to tighter and more expensive liquidity locally as strong loan growth continues to outpace deposit growth. Aggregate loans rose by AED150 billion, or 6% in 3Q25. Non-annualised loan growth reached 15% (AED330 billion) in…

First Holdco Dips Below N1.3trn Amidst Huge Trading Volume The market value of First Holdco Plc’s 41.877 billion shares outstanding on the Nigerian Exchange (NGX) slid below N1.3 trillion on Tuesday amidst a block transaction. According to its trading data on the Nigerian Exchange, the financial services group share price closed at N30.90, about 2% below its opening price following a negotiated deal. First Holdco share price declined as more than 68.629 million units valued at over N2.113 billion were traded in the local bourse. Stockbrokers reported that First Bank’s parent company recorded a single transaction involving 38.24 million of…

Oando Lost Additional 10% as Selling Rallies Persist Oando Plc lost an additional 10% of its market value on Tuesday in the stock market as investors continue to trim their interest in the energy company. The energy company has become a casualty of sell-side investors’ actions that have reduced its market value significantly. In 2024, Oando was the top performer, with more than 500% in capital appreciation. Sustained investors’ weak sentiment has now mixed with business risks as the group halted petrol imports due to Dangote Refinery operations. According to data from the Nigerian Exchange, Oando share price declined to…

China Seeks Sustainable Diplomatic Ties with Canada Chinese Foreign Minister Wang Yi on Tuesday called on China and Canada to properly address each other’s legitimate concerns to promote healthy, stable and sustainable development of China-Canada relations. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the appeal in a phone conversation with Canadian Foreign Minister Anita Anand. The request took place at the Canadian side. Wang said that not long ago, President Xi Jinping and Prime Minister Mark Carney held a pivotal meeting in Gyeongju, South Korea. The two sides reached an…

Bitcoin, Ethereum Trade in Red as Crypto Hunting Slows Bitcoin, Ethereum, and other top crypto assets are trading in red as investors’ sentiment weakened again, albeit with mild swings. The market anticipates a plan to reopen the US government to fuel the next rally. The U.S. Senate on Monday passed a spending package that could end the shutdown, boosting stocks and Bitcoin. Recall that the top largest digital assets rebounded early this week with positive price upticks that lifted their respective market value. The rebound followed massive sell-offs in the past week. The euphoria of the US government reopening expectations…