PROSHARE ECONOMY

African Governments Urgently Need to Restore Macro-Economic Stability and Protect the Poor in a Context of Slow Growth, High Inflation - Global headwinds are slowing Africa’s economic growth as countries continue to contend with rising inflation, hindering progress on poverty reduction. Source World Bank Group Read More

NMDPRA Resumes Consultations on PIA Regulations, Proposes $2m Penalty for Tampering with Oil Meters - According to the NMDPRA, the latest set of regulations would deal with health and safety in the sector as well as accuracy of measurement devices to ensure that no party is cheated. Source ThisDay Read More

Of National Honours, Politics and Value - OpEd by Dr Reuben Abati - “For First Time, Buhari Excludes Ex-Senate President, Saraki, from National Honours”. This was how the ThisDay newspaper of October 3, 2022, reported the story of the 2022 National Honours ceremony scheduled for October 11 at the State House in Abuja. Source Reuben Abati Read More

Clipping the Wings of CBN - At the Senate’s plenary on 27th September 2022, a Bill to amend the Central Bank of Nigeria (CBN) Act, 2007 was deliberated upon. As reported in the media, the Bill focused on three issues namely, 1) Appointment of an outsider as the chairman of CBN Board of Directors, 2) Fixing the remuneration of board members and 3) Approval of annual budget to be submitted to the National Assembly (NASS) for consideration. Source THISDAYLIVE Read More

PROSHARE MARKETS

Investors Lose N77.92bn as NGXASI Dips by 0.29%; Overnight Rate Expands by 0.75% to Close at 16.75%; BDC Rate Appreciates to N740 - The NGX All-Share Index dipped by 0.29% to close at 48,879.74 basis points as against 0.12% gain recorded previously to close at 49,024.16 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N77.92bn loss. YTD, the NGXASI Stands at +14.43%. Source Proshare Research Read More

Shareholders Approve Private Placement of Unissued Fidelity Bank Shares - Leading financial institution, Fidelity Bank Plc, has secured the approval of its shareholders to issue, by way of private placement, the unissued ordinary shares of the Bank. Source Fidelity Bank Read More

South Africa Broadcasting Corporation Acquires Broadcast Rights For FIFA World Cup Qatar 2022 - The South African Broadcasting Corporation (SABC) has revealed that it has acquired broadcasting rights for the FIFA World Cup Qatar 2022 and FIFA Women’s World Cup Australia/New Zealand 2023. Source Broadcast Media Africa Read More

PROSHARE BUSINESS

Nestlé Launches NESCAFÉ Plan 2030 to Help Drive Regenerative Agriculture, Reduce Greenhouse Gas Emissions and Improve Farmers’ Livelihoods - NESCAFÉ, Nestlé’s largest coffee brand and one of the world’s favorite coffees, outlined today its extensive plan to help make coffee farming more sustainable: the NESCAFÉ Plan 2030. Source Nestle Read More

Customer Service Week: Ecobank Celebrate Customers’ Loyalty, Assures Of Sustained Excellent Service Delivery - The Managing Director, Ecobank Nigeria, Bolaji Lawal has lauded the bank’s customers over their continued patronage and dedication to the brand, assuring that the bank will continue to meet and surpass their expectations with product offerings and excellent service delivery. Source Ecobank Read More

OPEC+ May Consider 2mbpd Production Cut - Ahead of OPEC+ meeting today, crude oil price rose yesterday to above $90 per barrel after falling on Monday to $88 per barrel. The rise, market sources said, is not unconnected with the possibility of a possible massive cut in the production quota which the organisation may impose. Source The Nation Read More

FG Relaunches Programme to Commercialise, Reduce Gas Flare - The federal government says it has relaunched the Nigerian gas flare commercialisation programme (NGFCP). Source The Cable Read More

PROSHARE TECHNOLOGY

Musk Said to Go Ahead With $54.20 a Share Twitter Deal - Bloomberg reporter - Billionaire Elon Musk is expected to propose going ahead with his takeover of Twitter Inc at $54.20 per share, a Bloomberg news reporter tweeted on Tuesday. Source Reuters Read More

Emefiele: Rise in Disruptive Banking Technologies Disturbing - The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele yesterday stressed that the rapid evolution of financial technology (fintech) companies has continued to alter the financial landscape globally. Source THISDAYLIVE Read More

PROSHARE FINANCE

mPharma Launches Hypertension Test and Treat Program to Control Hypertension in Africa - To celebrate world heart day, mPharma launched the Hypertension Test and Treat program (HTT) to support the prevention and control of hypertension in Africa. Heart disease is one of the greatest causes of premature death in Africa. Source mPharma Read More

NDIC Liquidates 467 Insured Banks - To underscore the relevance of deposit insurance in stabilising the financial system, the Nigeria Deposit Insurance Corporation (NDIC) says it has   liquidated 467 insured banks since its inception. Source Sun Read More