Author: Marketforces Africa

Nigerian Eurobond Yield Rises to 8.54% as FPIs Trim Holdings The average yield on Nigerian Eurobond yield rose slightly in the international market as foreign portfolio investors (FPIs) trimmed their portfolio holdings amidst renewed US tariff threats. Trading activities in the market closed on a bearish note, driven by broad-based sell-offs across the short-, medium-, and long-term tenors, with the SEP-2028 bond witnessing the most significant pressure. Consequently, average yields rose, resulting in 3 basis points increase to 8.54% as investors started to weigh the negative impacts of renewed tariff threats in the global markets. Analysts reported that foreign investors…

AfCFTA Credit Fund Closes $10m investment in Telecel The Credit Fund of the AfCFTA Adjustment Fund has successfully closed its first investment, committing US$10 million to Telecel Global Services Ltd, through a senior secured amortising loan. The transaction marks a significant milestone in the operationalisation of the Fund. The Credit Fund is one of three Funds under the AfCFTA Adjustment Fund, established by the AfCFTA Secretariat and African Export-Import Bank (Afreximbank) to provide targeted transitional support to AfCFTA State Parties and private sector entities as they adjust to the requirements and opportunities presented by the AfCFTA Agreement. Telecel Global Services,…

Brazilian President Slams Trump for Meddling in Internal Affairs Brazilian President Luiz Inacio Lula da Silva has condemned foreign interference in Brazil’s domestic affairs. Lula da Silva made the condemnation after U.S. President Donald Trump urged Brazilian authorities to end prosecution of ex-president Jair Bolsonaro, who is on trial for attempting a coup. “Defending Brazil’s democracy is an issue that concerns Brazilians. We are a sovereign country; we do not accept interference or guardianship from anyone. “We have solid and independent institutions. No one is above the law, especially those who threaten freedom and the rule of law,” Lula said.…

Nigerian Bond Yield Slumps, Capital Outflow Risk Heightens Capital outflow risk heightened in the secondary market for Nigerian bonds as yield continues to fall. On Monday, the federal government of the Nigerian bond market rallied further at the beginning of the week as investors anticipated lower supply for the third quarter and possible rate adjustments to reflect moderating rates on the naira assets. In a separate market update, investment bankers said investors positive sentiments were observed in the bond market, with activities seen across the curve, particularly the mid-segment (-10 bps) and long-end (-17 bps). Notable flows were seen across…

Bitcoin Falls to $108k over Retail Cryptocurrency Selloffs The world’s oldest and largest cryptocurrency, Bitcoin, slipped to around $108,000 level in the cryptocurrency market on Monday as retails investors’ trade exit on top leading digital assets amidst US tariff uncertainties The market value of all cryptocurrency is down by about 0.8%, suggesting mild selloffs are coming from retail traders. BTCUSD floated near $109,000 early Monday, creeping within just 3% of its all-time record, but retreated a few hours later. But the price action holds a big undercurrent as whales dumped coins at scale. Traders said approximately 500,000 BTC—worth more than…

No Going Back on Nuclear Test Ban in Nigeria—Shettima Vice-President Kashim Shettima, has reiterated Nigeria’s commitment to a comprehensive nuclear test ban through collaboration with the Comprehensive Nuclear-Test-Ban Treaty Organisation (CTBTO). Shettima stated this on Monday when he received, on a courtesy visit to the Presidential Villa, the Executive Secretary of CTBTO, Dr Robert Floyd. He said Africa’s priority, at the moment, is to address its existential challenges of poverty and the effects of climate change, not the pursuit of nuclear weapons capability. ” The outcome of any nuclear conflict is never a win-win situation; it is always the opposite.…

Euro Declines against USD as EU Plans Tariff Response The euro declined against the US dollar on Monday, trading toward $1.17 as investors ’awaited further clarity on upcoming US tariff measures. The global market paused for breath again as investors and forex traders reacted to new tariffs pushed by the US administration with mixed sentiment. Forex options buyers queue behind the greenback after a better-than-expected job report and the expectation that a rate cut will be much easier as Donald Trump plans a shadow Fed chair. The European Union said it is making progress toward a trade agreement with the…

Market Index Climbs as PZ Cussons, GTCO See Intraday Rally The market index or Nigerian Exchange (NGX) all-share index (ASI) is gaining traction during the intraday trading session on Monday as PZ Cussons, GTCO, and other early risers gained investor attention. The local bourse has gained 14 basis points already amidst positive sentiment and downward-sloping yields in the fixed income market. Stockbrokers said the market may likely close in green at the beginning of the trading week, reflecting renewed bargain hunting in some selected stocks with upside potentials. At mid-day, the NGX All Share Index posted a gain of 0.14%,…

Benchmark Interest Rate Projected to Fall by 3% in 2025 Nigeria’s monetary policy rate has been projected to fall by 300 basis points in 2025 as the nation’s macroeconomic conditions begin to improve. Disinflation has persisted, and a slew of analysts have maintained a positive outlook for the rebased consumer price index to ease for the rest of the second half in the absence of significant economic shock. The Nigerian government is expected to put an end to its contractionary economic policy, with double-digit high interest rates likely to fizzle out in the second half of 2025, some analysts have…

Trump’s New Tariffs Push Investors Further from US- CEO US President Donald Trump’s fresh threat to slap an additional 10% tariff on any country backing the BRICS alliance is accelerating a decisive shift among global investors — one that’s moving capital, attention and confidence away from the United States, says Nigel Green, CEO of global financial advisory deVere Group. “This policy announcement is confirmation of a growing narrative that the US is drifting toward economic isolation,” says Nigel Green. “Investors are reacting to that — not with panic, but with reallocation. Trump’s warning, issued Sunday on Truth Social, comes just…