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Ecobank Reiterates Support For Businesses, Finances Abia Mall

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  • Ecobank Reiterates Support For Businesses, Finances Abia Mall

Ecobank Nigeria has restated its commitment to sustain support for projects that impact positively on the lives of the people and economic development of the country.

The Managing Director, Ecobank Nigeria, Charles Kie, who gave the assurance during the commissioning of Abia Retail Shopping Mall (Shoprite) in Umuahia, Abia State, said such support is part of the bank’s policy.

Represented by the Team Lead, Medium and Local Corporates, Commercial Banking, South East, Jovita Okeahialam, he affirmed that the bank has a deliberate policy to finance projects that stimulates development, stressing that it was the motive behind the decision to be one of the financiers of the Abia mall.

“We find it quite fulfilling to be part of this project. This shopping mall will no doubt promote commerce, enhance peoples’ lives and as a matter of fact bring development to the state in general. We will continue to support such initiative in the continent,” he said.

The State Governor, Dr. Okezie Ikpeazu, said the mall will be a hub for opportunities for the people all over the world to do business, noting that Abia now belongs to the comity of states that have Shoprite.

He also appealed that Made-in-Abia products like shoes and bags be displayed alongside foreign ones, assuring that the products would attract more customers because of their quality.

He commended the former Governor, Senator Theodore Orji for initiating the project and other organisations like Ecobank for supporting the project.

Managing Director, Abia Retail Mall, Chuka Okoye, said Ecobank’s support to developmental projects in the country and the state in particular, was quite commendable, lauding it for being one of the key financiers of the project.He assured of good and quality products in the mall and urged people to patronise the business.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Investment

The Fastest Growth in Decades: Investors Top-up Portfolios – but in What Stock?

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The time is now for investors to top up their portfolios – in both value and growth stocks – ahead of a stronger than expected global economic rebound, says the CEO of one of the world’s largest independent financial advisory organisations.

The bold ‘call to action’ from Nigel Green, chief executive and founder of deVere Group, comes as U.S. stock futures for Tuesday are pointing higher after the Dow Jones rallied to an all-time intraday high on Monday, and as the tech-heavy Nasdaq steadied after a correction.

Meanwhile, Asia-Pacific markets had a mixed day of trading in Tuesday’s session and European markets are set to open broadly higher continuing a rally on Monday that saw Germany’s DAX climb 3.3% and hit a new intraday high.

Mr Green says: “This first half of 2021 is going to be a whole lot different for the markets, compared to 2020.

“This time last year, we were in the middle of a major and sudden global stock market crash due to the panic and uncertainty of the pandemic.

“Now, just 12 months later, due to the mass global vaccine rollouts, historic stimulus packages from governments – including the $1.9 trillion from the Biden administration for the world’s largest economy – easy money from central banks, and record levels of pent-up savings and demand, we’re looking at a major economic recovery.

“We can expect a stronger than had previously been expected global economic rebound this year, particularly in developed economies.  We could see the fastest growth in decades.

“This is evidenced by the Federal Reserve – the world’s de facto central bank – pulling its three lending schemes to finish as scheduled at the end of March due to a lack of usage.”

So, with a likely economic boom on its way, where should investors invest?

The deVere CEO observes: “Much is being made of the phenomenon of ‘rotation.’ This is where a move into those sectors could benefit from higher inflation and an improving economy, such as financial, industrial and energy stocks, and out of tech stocks, for example, that boomed during extended lockdowns.

“However, I would suggest that it should not be a case of ‘either/or,’ and that a savvy investor should incorporate both value and growth stocks into their portfolios.

“In a post-pandemic era, it’s likely we’ll maintain some lockdown habits, like working from home more often, but we’ll also be back in the gym; we’ll travel and go to public events again, but we’ll also be more conscious of the environment and hygiene procedures.

“In short, value stocks are in revival mode, but does anyone suddenly seriously think Amazon, Google and Tesla are not companies of the future also?”

“As ever, the investor’s best tool to mitigate risk and seize opportunities is proper diversification.”

Mr Green concludes: “2021’s markets are already very different.

“Investors will not want to miss out on the major economic rebound and should top-up their portfolios, and ensure they are diversified, sooner rather than later.”

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Union Bank Launches Investment App M36 for Fixed-income Products, Others

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M36, a new digital platform designed to deliver a wide range of investment products directly to individuals, has launched in Nigeria.

Through an innovative, user-friendly app, M36 offers investment options not typically available on self-service digital platforms including foreign currency transactions, commercial papers, local and foreign denominated bonds, treasury bills and other fixed income products.

M36 also offers bespoke solutions for both new and experienced investors as well as a 24-hour lifestyle concierge service to meet the needs of discerning customers.

In a rapidly evolving environment with changing consumer behavior fueled by technology and growing access to information, M36 is looking to expand opportunities for investors at all levels, while also simplifying the process of investing.

M36 was developed by Union Bank as part of its strategic focus on delivering superior customer solutions leveraging technology and innovation.

The Bank partnered with several asset management companies to deliver the broad range of investment products on the M36 platform.

Chuka Emerole, Head, Treasury at Union Bank said about M36:

“M36 eliminates the traditional barriers to investing and offers investors direct access to financial instruments that would usually require the service of an investment or relationship manager.

“We’ve designed M36 to ensure simplicity in the onboarding and investing process while also empowering the customer to make sound investment choices based on their financial objectives.

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United States Firms Operating in Nigeria Plans to Invest $2.4 Billion in Nigeria – Report

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United States Firms Operating in Nigeria Plans to Invest $2.4 Billion in Nigeria – Report

A report compiled by the American Business Council, the United States Embassy, Verraki, KPMG and PwC showed American firms operating in Nigeria plans to invest $2.37 billion in the country in the next three years.

In the 2020 Nigeria Economic Impact Survey, the impact of US firms on the Nigerian economy was analysed while changes in business revenue, foreign investment, job creation, gross value added and plans for expansion were measured.

45 United States companies operating in Nigeria were surveyed and data obtained analysed, according to the report.

The report revealed that US companies in Nigeria created over 30,000 indirect jobs in 2019, a decline from three million in 2018 and over 13,100 direct jobs, down from 18,000 in 2018.

The firms realised N1.08 trillion in revenue in 2019, representing a decline from N1.47 trillion when compared to N1.47 trillion generated in 2018.

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