Author: Marketforces Africa

U.S Fed Cuts Rates by 25bps to Support Maximum Employment The U.S. Federal Reserve cut interest rates by 25 basis points to boost employment conditions in America. Recent indicators suggest that growth of economic activity moderated in the first half of the year, according to Federal Open Market Committee (FOMC) official statement. Fed said Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook…

Oil Prices Rise as Ukraine Drone Strikes Refinery in Russia In the global commodity market, the prices of crude oil increased on Tuesday as markets remained on edge, driven by mounting risks to energy infrastructure from the Russia-Ukraine war, easing trade tensions between the US and China, and uncertainty over the Federal Reserve’s (Fed) rate decision. Brent crude was trading at $67.26 per barrel, up 0.1% from the previous close of $67.18. US benchmark West Texas Intermediate (WTI) increased by 0.2% to $63.17 from $63.03 in the prior session. On September 14, an overnight Ukrainian drone strike ignited a fire…

MTN Nigeria, Airtel Africa Control 86% of Telecom Industry Based on the latest data from the regulator, MTN Nigeria and Airtel Africa control more than 86% of the Nigerian telecom industry. The two telecom giants have 86.12% of the market share in the industry as of July, and analysts are anticipating improvements in their respective subscriber bases. In the stock market, MTN Nigeria Plc and Airtel Africa combined market value closed steady at N17.816 trillion. Data from the Nigerian Exchange showed that the market value of Airtel Africa Plc’s 3.758 billion shares outstanding closed at N8.683 trillion on Friday at…

FIRS Deal: eTranzact Gains 45% as Investors Bet on Future Earnings Stream Investors increased bets on eTranzact Plc in the stock market as Federal Inland Revenue Service (FIRS) approved the ICT company as a certified provider for its e-invoicing rollout, expanding a collaboration that began with VAT automation under Tax Administration 2.0. Trading data from the Nigerian Exchange (NGX) where eTranzact shares were listed showed that market value of the company’s 9.199 billion shares outstanding rose to N137.359 billion on Friday’s close. ICT Company with footprint in payment processing saw its share price increased sharply in reaction to the deal. …

U.S. Digital Advertising Pressured by AI Disruption, Web Traffic Decline Digital publishers and advertising intermediaries face increasing disruption from advanced AI and large language models that are changing online users’ behaviors, says Fitch Ratings. Sustained traffic declines reduce advertising monetization opportunities and could pressure the ratings of these companies if they are unable to adapt to the rapidly changing market. Companies who successfully pivot to AI-enabled solutions, outcome-based pricing models, and diversified revenue streams will maintain stronger credit profiles as digital consumption patterns continue to evolve. Recent industry reports highlight a notable shift in user behavior toward AI-powered chatbots for…

OMO, Treasury Bills Yields Drop as Investors Increase Bets Average yields declined as investors increased bets on Nigerian OMO and Treasury bills in the secondary market amidst mixed expectations about higher rates offered by the Central Bank to players at OMO auctions. Excess liquidity in the financial system has continued to fuel bargain hunting across the short, belly, and long end of the curve in the treasury bills market. There was no supply from the Central Bank during the week, and the authority also failed to float OMO bills, leaving excess liquidity in the banking system intact toward the weekend.…

Naira Appreciates to N1501, U.S Dollar Savers Face Exposures The naira exchange rate climbed to N1501 per dollar in the absence of significant US dollar demand at the official window. The forex market players expressed confidence that the local currency will keep the momentum, making it risky to hoard dollar in Nigeria. According to data from the Central Bank, US dollar transactions was consummated at the official window at the rate of N1500.9152 on Monday, gaining from N1506.0850 the previous day. During the intraday trading session, the naira strengthened against the dollar to N1498, reflecting strong US dollar volume availability…

EIA Upgrades Brent Price Projection for 2025 The US Energy Information Administration (EIA) raised its Brent crude oil price forecast for 2025 to $67.80 per barrel from $67.22, while warning of sharp declines later in the year and into 2026. In its Short-Term Energy Outlook (STEO) released late Tuesday, the EIA also revised up its 2025 West Texas Intermediate (WTI) projection to $64.16 per barrel from $63.58. Despite the upward revisions, Brent, which averaged $68 in August, is forecast to fall to $59.41 in the fourth quarter of 2025 and $49.97 in early 2026. The EIA said large inventory builds,…

Era of Silos Over: Shettima Hails Kaduna Skills Council Setup Vice-President Kashim Shettima has hailed Gov. Uba Sani of Kaduna State for establishing and chairing the state’s first Council on Skills. Shettima made the commendation during the 7th meeting of the National Council on Skills (NCS) at the Presidential Villa, Abuja, describing Sani’s leadership as exemplary and urging other states to replicate the initiative. He emphasised the need for collective action to drive the administration’s skills acquisition agenda under President Bola Tinubu’s Renewed Hope Agenda. “The era of operating in silos is over. “We must collaborate, across agencies, ministries, and…

Fitch Upgrades World GDP Forecast on Better Incoming Data Fitch Ratings has raised its world growth forecasts for 2025 moderately since the June Global Economic Outlook (GEO) on better-than-expected incoming data for 2Q25. But there is now evidence of an underlying US slowdown in ‘hard’ economic data and positive surprises on eurozone growth have partly reflected US tariff front-running. Fitch still expects world GDP to slow significantly this year. Global growth is now forecast to be 2.4% in 2025, up 0.2pp since June but a sizeable slowdown from 2.9% last year and below trend. China’s forecast has been raised to…