PROSHARE ECONOMY

Global Addiction to Fossil Fuels’ Must End and a ‘Renewables Revolution’ Jumpstarted - Guterres - Achieving a just and equitable energy transition is “one of the biggest challenges facing our world,” UN Secretary-General António Guterres told the Global Compact Board meeting on Sunday. Source UN News Read More

The State of Nigeria’s Economy…Not too Late to Turn the Curve - Whilst the world continues to recover from the COVID-19 pandemic, new shocks, such as the Russia-Ukraine conflict, and heightened inflationary trend, have emerged, thereby wreaking havoc on the global economy. These shocks drifted many economies, including advanced and emerging countries, far from full recovery from the impacts of the COVID-19 pandemic. Source NESG Read More

Nigeria’s Debt Hits N42.84tn Amid Revenue Crisis - Domestic debt has pushed Nigeria’s total public debt stock from N41.60tn as of March 2022 to N42.84tn as of June of the same year, showing an increase of N1.24tn in three months, according to the Debt Management Office. Source Punch Read More

NGF Launches Public Finance Database to Simplify Access to States’ Fiscal Information - The Nigeria Governors’ Forum (NGF) has launched a public finance database that will allow citizens to easily filter and analyse states’ fiscal data and information. Source The Cable Read More

PROSHARE MARKETS

Cadbury Plc H1 2022 Result: Revenue Grows 50.54% Despite Worsening Economic Headwinds - Judging by its H1 2022 numbers, Cadbury Nigeria Plc seems to have made a turnaround. Analysts note that the chocolate maker’s performance surpassed earlier analysts’ predictions. Source Proshare Research Read More

Investors Lose N18.99bn as NGXASI Dips by 0.07%; Overnight Rate Expands by 0.66% to Close at 10.83%; IEFX Rate Depreciates to N436.50 - The NGX All-Share Index dipped by 0.07% to close at 49,440.21 basis points as against 0.13% loss recorded previously to close at 49,475.42 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N18.99bn loss. YTD, the NGXASI Stands at +15.74% Source Proshare Research Read More

NT-Bills Update: Average Yield Decline Marginally by 7bps WoW to 7.57% - Last week, the Nigerian Treasury Bills (“NT-Bills”) secondary market witnessed a bullish sentiment as investors anticipated Primary Market Auction (“PMA”) that held last Wednesday (14-Sept-22). As a result, the average yields dipped 7bps to close at 7.57% from 7.65% the previous week. Source Afrinvest Research Read More

PROSHARE BUSINESS

South Africa’s Biggest Banks are Changing Course – But Economists are Worried - South Africa’s major banks have successfully navigated complex economic terrain over the first half of 2022, but the outlook for the rest of the year remains uncertain. Source Business Tech Read More

Africa Should Not Just be in the Conversation on Climate Change but Actively Set the Agenda - As the world continues to experience the daily impact of global warming, whether the tragic recent flooding in Pakistan, or the less covered, but equally harmful, persistent environmental degradation of Africa’s Sahel region, leaders need to act, not just talk. Source Tony O. Elumelu Read More

CISI Bill: Avoiding Legislating the Nigerian Capital Market into a Monopoly - Being a Presentation to the House Committee on Capital Market and Institutions by the CIIA at the Public Hearing on the Proposed Bill on the Chartered Institute of Securities and Investment (HB 1858). Source CIIA Read More

Fed Govt Gets 40% of Azura $30m Power Payment - Forty percent of the $30 million paid monthly to the Azura-Edo Power Plant for 452Mw energy and capacity charges returns to the Federal Government, through the Central Bank of Nigeria (CBN), Nigerian Gas Company and the Nigerian Petroleum Development Company (NPDC). Source The Nation Read More

PROSHARE TECHNOLOGY

MTN Rolled Out 5G in Nigeria - 5G is live in Nigeria! We were at the exhilarating commercial launch of MTN 5G and we had an eye-opening experience! All the guests present were able to experience the beauty and comfort that comes from a technology-led world. Source MTN Nigeria Read More

Clickatell Helps Nigerians Access eNaira Services, Boosting Financial Inclusion - Clickatell, a CPaaS innovator and Chat Commerce leader, has partnered with the Central Bank of Nigeria (CBN) to deliver fast, simple, and cost effective eNaira banking services to all Nigerians using the USSD channel, eliminating the need for data and available on all handsets. Source Clickatell Read More

NCC to Generate N500bn From 5G Spectrums Auctioning - The Nigerian Communication Commission (NCC) says it plans to generate over N500 billion as revenue for the Federal Government from the auctioning of two 5G spectrums in 2023. Source Vanguard Read More

Flutterwave Merchants Can Now Accept Payments in Digital Currency eNaira - Flutterwave merchants can now process payments in eNaira, the Nigerian digital currency issued and distributed by the Central Bank of Nigeria. Source Fintech Africa Read More

PROSHARE FINANCE

FSDH Leads Conversation on Financing Healthcare in Nigeria - The Nigerian healthcare industry has seen a steady increase in participation from both the private sector and multilateral institutions from all over the world. These organisations have fuelled the industry with foreign direct investment, and these funds have been channelled towards advancing various facets of the healthcare value chain. Source WebTV Read More

United Capital CEO Peter Ashade, Advocates Digital Technology to Improve Savings and Investments in Nigeria - Nigeria needs to leverage digital technology to grow savings and investments in the country. The Group Chief Executive Officer of United Capital Mr. Peter Ashade made this point at a workshop which discussed theme “Ushering the New Era of Savings/Investments through Digital Transformation”. Source WebTV Read More