Author: Marketforces Africa

Traded at a historic low, the Nigerian naira lost N7.83 on each US dollar transaction conducted at the Investors and exporters

The equities segment of the Nigerian Exchange (NGX) popped higher by more than N60 billion

Ratings agency Fitch affirms Stanbic IBTC Holdings’ top-notch ratings with an outlook accorded as stable

Headline inflation pressure eased in Rwanda for the second straight month to 22.4% in May 2023

‘Benjamin’ came to the market yesterday as Etransact International, Secure Electronic Technology Plc,

Accounting for about 40% market share, MTN Nigeria remains the most preferred telecom service provider

The average yield on the Federal Government of Nigeria (FGN) bonds moved in a mixed direction

In the foreign exchange market, the naira holds its previous position against the United States dollar

FBNH Halts Uptrend After Earnings Downturn Equity tracker: FBN Holdings Plc’s uptrend has slowed down after a more than 10% year-on-year decline in its earnings per share in the financial year 2022, according to its results. However, the group saw a strong profit jump in the first quarter of 2023 despite the naira redesign crisis. Data from the Nigerian Exchange showed that the group market valuation has fallen below N500 billion due to selloffs by unimpressed equity shareholders of the company. MarketForces Africa’s review indicated that the financial service company’s single largest shareholder Femi Otedola sold a large part of…

The Nigerian Exchange (NGX) declined on Wednesday following selloffs in Airtel Africa.