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2024 Ended Bullish for Nigeria’s Equities Market with 37.65% YTD Return, But Down 0.22% on the Last Trading Day; BDC Rate Appreciated to N1,645/US$ - The Nigerian stock market wrapped up the year 2024 on a bearish note but posted a year-to-date return of 37.65%. The Tuesday - year-end downturn was driven by selloffs in ETERNA (-10.00%), PZ (-6.90%), CADBURY (-6.52%), DANGSUGAR (-4.55%), MTNN (-3.75%), OANDO (-1.49%), ZENITH (-0.98%), UBA (-0.88%), ACCESSCORP (-0.63%), FBNH (-0.53%), UCAP (-0.49%), NB (-0.47%), ARADEL (-0.33%), and 14 others. Source Proshare Read More
Oando Plc 30th Anniversary Celebrations and Stakeholder Sensibilities - Recent conversations about organisations’ year-end celebration binge in 2024 and the moderate or immoderate expenditure have attracted mixed comments. While these concerns are well placed within the prudence, sensitivity and governance conversations that dominated conversations in the year. Source Proshare Read More
Agama: Innovation Key to Commodities Development in Nigeria - The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has reiterated that the commission is committed to promoting innovation, and fostering collaboration to position commodities exchanges as vital drivers of economic growth, job creation, poverty alleviation and engines of national development. Source THISDAY Read More
S&P 500 posts 23% gain for 2024 as stocks close slightly lower in final session of year - Stocks closed lower on Tuesday as investors wrapped up another booming year that hoisted the S&P 500 to its second consecutive annual gain exceeding 20%, spurred by enthusiasm for rate cuts, economic strength and artificial intelligence. Source CNBC Read More
Proshare’s Top Ten Articles in 2024: A Year of Renewed Hope, Shocks and Corporate Shifts - Notable shifts and ripples spread through the Nigerian economy in 2024. The impact of President Bola Tinubu's reforms remains mixed. Regulatory moves sought financial stability, prompting a banking sector recapitalisation programme. Source Proshare Read More
Proshare’s Top Eight Reports in 2024: Of Innovations, Market Dynamics, Business Growth, and Regulatory Changes - Proshare Reports in 2024 offered a multi-dimensional view of Nigeria's financial, corporate, and capital markets landscape, highlighting emerging trends, regulatory dynamics, and strategic shifts. Source Proshare Read More
Transfer of Regulatory Oversight of the Electricity Market in Ogun State to OGERC - In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Ogun State from the Commission to the Ogun State Electricity Regulatory Commission (OGERC). Source Proshare Read More
NPA, NSC urged to address inefficiencies in cargo handling, vessel turnaround - The Managing Director of Shipbait Nigeria Limited, Festus Nwiue, has highlighted critical inefficiencies in the country’s port operations, urging terminal operators, the Nigerian Ports Authority (NPA) and the Nigerian Shippers’ Council (NSC) to address challenges affecting cargo handling, vessel turnaround times, and overall port infrastructure. Source Guardian Read More
UK and EU look to 2025 for reset, but with little room for trade-offs - Early in 2025, Prime Minister Sir Keir Starmer has been invited to an informal summit of EU leaders. It's the first such invitation for the UK since the bitter days of the Brexit negotiations. Source BBC Read More
Bitcoin more than doubles in 2024 on spot ETF approval, Trump euphoria - Bitcoin more than doubled in 2024 driven by the U.S. markets regulator's approval for exchange-traded funds tied to its spot price, and optimism over easing regulatory hurdles with Donald Trump set to return to the White House. Source Reuters Read More
Alibaba slashes prices on large language models by up to 85% as China AI rivalry heats up - Alibaba is cutting prices on its large language models by up to 85%, the Chinese tech giant announced Tuesday. Source CNBC Read More
US Treasury says it was hacked by China in 'major incident' - Chinese state-sponsored hackers broke into the US Treasury Department's systems earlier this month and were able to access employee workstations and some unclassified documents, American officials have said. Source BBC Read More
NCC Announces Marginal Mobile Subscription Increases MoM to 157.6m In October 2024 - Industry data from the Nigerian Communications Commission (NCC) reveals a significant year-on-year (YoY) decline in active mobile subscriptions for October 2024. The total number of active subscriptions dropped by 64.59 million, or 29.07%, to 157.60 million in October, down from 222.19 million in October 2023. Source Proshare Read More
Telecom Operators Signal Major Service Disruptions In 2025, Seek Urgent Reforms - Nigeria’s telecommunications sector is teetering on the brink of a crisis, with operators warning of imminent service shedding that could disconnect millions of subscribers by 2025. Source Leadership Read More
10 African fintechs to watch in 2025 - 2024 has been the year for African fintech. Fintechs remain the most-funded startups in Africa’s tech ecosystem, securing 35% of the total funds raised in H1 2024. The sector also welcomed two new unicorns: Moniepoint and Tyme Bank. Source TechCabal Read More
These were the badly handled data breaches of 2024 - For the past few years, TechCrunch has looked back at some of the worst, badly handled data breaches and security incidents in the hope — maybe! — other corporate giants would take heed and avoid making some of the same calamities of yesteryear. Source TechCrunch Read More
World’s 500 Richest People Surpassed $10 Trillion in Wealth This Year - The world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined $10 trillion net worth. Source Bloomberg Read More
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