Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

GCR Affirms Nigerian Breweries Ratings, Cites Low Cash Holdings

Companies

GCR Affirms Nigerian Breweries Ratings, Cites Low Cash Holdings Emerging market focus rating agency, GCR Ratings (GCR) has affirmed the national scale long-term and short-term Issuer ratings of AA+(NG) and A1+(NG) respectively assigned to Nigerian Breweries Plc, with the outlook revised to stable. The brewer’s top-notch ratings are affirmed, though its liquidity position is assessed as weak given its large short-term obligations. According to GCR, Nigerian Breweries’ cash holdings of N22.1 billion in December 2022 and the projected cash flow are not sufficient to meet maturing short-term debt of N119.8 billion. Also, there is an estimated capital spending of N30…

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SEC Opens Regulatory Incubation for Fintech Firms

Markets

SEC Opens Regulatory Incubation for Fintech Firms The Securities and Exchange Commission (SEC) has opened Regulatory Incubation (RI) programme for Fintech firms operating or seeking to operate in the country’s capital market. In a circular by the Commission in Abuja on Sunday, the RI portal would be opened between April 28 and May 26 for registered capital market operators and unregistered Fintech innovators who required regulation. ”This is to inform you that the portal for submitting applications is now ready to receive applications from Cohort 001/23. ”Cohorts will be announced at specific times. ”The circular identifies those that can apply…

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