Investors Gain N655.89bn WoW as NSEASI Inches Up by 3.23% to Close the Week Positive
Equities market closed today on a positive note, as NSEASI appreciated by +1.59% to close at 40,221.17 basis points as against +1.89% appreciations recorded previously. Its Year-to-Date (YTD) returns currently stands at -0.12%.
Market breadth closed positive as UPL led 20 Gainers as against 14 Losers topped by CHAMS at the end of today’s session – an unimproved performance when compared with previous outlook.
Market turnover closes positive as volume moved up by +120.65% as against -9.87% downtick recorded in the previous session. TRANSCOHOT, FBNH and TRANSCORP were the most active to boost market turnover. TRANSCOHOT and DANGCEM topped market value list.
TRANSCOHOT leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
COVID-19 wipes out $5.5bn from value of Africa’s top brands
The COVID-19 pandemic wiped out $5.5 billion from the value of Africa’s top brands between 2020 and 2021, according to a study by South Africa-based Brand Finance Africa, a brand valuation consultancy.
Aviation sector to benefit as CBN mulls N15tn fund
There are indications that the aviation sector will be part of top beneficiaries of a N15 trillion infrastructure fund expected to kick off by next month by the Central Bank of Nigeria (CBN)
Brain drain leaves future of Nigeria at risk but Singapore’s strategy offers way out
Human capital is one of the greatest resources of African countries, particularly Nigeria, the continent’s most populous nation, but when they leave for training abroad and don’t return the future of the continent is at risk, according to Jean-Michel Paul, CEO of Acheron Capital
ACA acquires 31% stake in Food Concepts, owners of Chicken Republic
Africa Capital Alliance (ACA) has bought a 31 percent stake in Food Concepts Plc from Development Partners International (DPI), the two private equity firms said Thursday. The value of the stake was not disclosed
Nigeria’s air transport sees highest passenger departures since April 2020
A total of 232,501 passengers travelled out of Nigeria by air between the months of April and June 2021, representing the highest figures the country has seen in five quarters, (April 2020 -June 2021).
Eight in 10 Nigerians willing to invest in Cryptocurrency – Survey
Eight in every 10 Nigerians are willing to invest some of their salaries in cryptocurrencies over the next five years, according to a recent report by Luno- leading global cryptocurrency
For 4th straight year, Institutional Investors Name EFG Hermes Top Frontier Research House
EFG Hermes, the frontier emerging market-focused financial services corporation, announced on Thursday that its Research Division has been named the top frontier research house and the second-best in the MENA region for the fourth consecutive year in the Institutional Investor Poll 2021.
African Alliance Insurance Releases 2020 Audited and Q1 2021 Results; Reports N3.5m Loss in Q1
Key Highlights
• Gross Premium declined by -0.2% to N1.9bn from N1.87bn in the previous quarter.
• Loss before tax stood at N3.5bn.
• Loss after tax stood at N3.5bn.
• Net Assets also stood at N8.4bn.
• Share Price Currently Stands at N0:20k
Q1 REPORT FOR THE PERIOD ENDED 31 MARCH
2021 N’m 2020 N’m % Change
MAR MAR
Gross Premium Written 1,868 1,871 -0.2%
P(L)BT (3,522( (327) -978.0%
Taxation (3,440) (3,812) 9.8%
P(L)AT (3,526) (331) -966.8%
Balance Sheet Information
Net Asset -8.351 -5,114 -63.3%
AUDITED REPORT FOR PERIOD ENDED 31 DEC
2021 N’m 2020 N’m % Change
DEC DEC
Gross Premium Written 7,122 8,744 -18.5%
P(L)BT 5,715 (7,019) -181.4%
Taxation (46.219) (18.737) -146.7%
P(L)AT 5,669 (7,038) 180.5%
Balance Sheet Information
Net Asset -5,114 -11,346 -54.9%
