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PZ Cussons Leads Gainers, as NSE Records N8.6b Turnover

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PZ Cussons
  • PZ Cussons Leads Gainers, as NSE Records N8.6b Turnover

PZ Cussons Plc traded higher at the end of last week’s transactions on the Nigerian Stock Exchange. It led nine other with 21.29 per cent to close at N13.39 per share.

Following PZ Cussons, last week, was Julius Berger Plc, adding 10.22 per cent to close at N38.39 per share. Other gainers in last week’s transactions include; Betaglas, Forte Oil, United Capital adding 10.22, 9.91 and 7.61 per cent to close at N36.45, N59.41 and N3.82 per share.

Jaiz Bank gained 6.11 per cent to close at N1.39 per share. Sterling Bank added 5.71 per cent to close at N0.74 per share.

Dangote Flourmills garnered 5.67 per cent to close at N4.10 per share. Livestock added 5.56 per cent to close at N0.76 per share. FBN Holdings also gained 5.43 per cent to close at N3.30 per share.

Consequently, a turnover of 1.073 billion shares worth N8.608 billion in was recorded in 14,486 deals by investors on the floor of the Exchange, in contrast to a total of 1.052 billion shares valued at N8.031 billion that changed hands in 13,586 deals during the week ended February 10, 2017.

Last week, the financial services industry (measured by volume) led the activity chart with 930.380 million shares valued at N5.701 billion traded in 8,759 deals; thus contributing 86.70 per cent and 66.24 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 52.480 million shares worth N1.992 billion in 2,513 deals. The conglomerates industry ranked third with a turnover of 22.125 million shares worth N39.217 million in 499 deals.

Trading in the top three equities namely – Staco Insurance Plc, Zenith International Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 473.880 million shares worth N4.269 billion in 2,254 deals, contributing 44.16 per cent and 49.60 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 15.400 million units of Exchange Traded Products (ETPs) valued at N198.477 million executed in nine deals, compared with a total of 200 units valued at N338,007.70 transacted last week in eight deals.

A total of 10,673 units of Federal Government Bonds valued at N10.479 million were traded this week in 10 deals, compared with a total of 1,135 units valued at N1.175 million transacted last week in five deal. The NSE All-share index and market capitalisation depreciated by 0.69 per cent to close the week at 25,164.91 and N8.709 trillion.

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.

Banking Sector

TAJBank Deploys NQR Solution To Ease Customer Transactions

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TAJBank, Nigeria’s non-interest bank, has announced the deployment of the NQR Payment solution, an indigenous Quick Response Code (QRC) by the Nigeria Interbank Settlement Scheme (NIBSS), for merchants and customers as the newest addition to its innovative e-business channels.

The NQR Payment solution is a secure QR-code-based payments and collections platform developed for merchants and customers to receive and make payments for goods and services in a quick, easy, contactless and secure manner.

A statement signed by the Founder/Chief Operating Officer of the bank, Mr. Hamid Joda, indicated that the ingenious solution would further drive TAJBank’s culture of innovation and create a seamless payment experience for its rapidly growing individual and corporate customers in their banking transactions.

“We are excited to have this payment channel introduced into the nation’s financial system as an addition to other innovative solutions we have deployed over the past few months.

This is a proof that, as we have said in our communications signature line, TAJBank’s interest is always in our customers”, Joda enthused.

In his remarks, the non-interest lender’s Chief Marketing Officer/Co-Founder, Mr. Sherif Idi, also maintained that the deployment of the NQR payment solution would revolutionize the e-payment experience and open new frontiers for small, medium and large scale businesses who are major stakeholders of the bank.

Since it commenced operations in the non-interest banking segment of the financial services industry, TAJBank is noted for its impeccable track record of growth and innovation, rendering exceptional quality services to customers.

The lender’s NQR solution is open to all customers of the bank, both merchants and individuals, across all its branches and digital channels globally.

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Finance

African Development Bank’s First Virtual Business Opportunities Seminar of 2021, Draws 450 Global Partners and Suppliers

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AfDB

The African Development Bank hosted its first virtual business opportunities seminar (BOS) of 2021 on 6 and 7 April.

The BOS seminars offer a one-stop shop for companies, civil contractors, manufacturers, consultants, and suppliers from the Bank Group’s regional and non-regional members seeking to provide goods and services to projects or to the Bank.

Held virtually as a result of the ongoing Covid-19 pandemic, delegates were informed about the Bank’s strategy for supporting economic growth, its priority areas, rules and procedures for project and corporate procurement, and ongoing public and private sector operations.

During the sessions staff discussed the sectors that offer opportunities for partners and suppliers: climate change; infrastructure, cities and urban development; industries and trade; finance and SMEs; agriculture; health, human capital, youth, and skills development.

“The Bank’s 2021 Business Opportunities Seminar was an impressive learning experience and an open door to interact virtually with different experts and gain insights into best practices and directions for conducting effective business approaches within the Bank,” said David Andrés Rojas Mejía, Senior Business Development Specialist at Catalonia Trade and Investment Promotion Agency.

Private sector partners contributed richly to the discussion, sharing their experience around partnering and contracting with the Bank. They included Kwame Boate, country director of TechnoServe Inc., (Ghana) and Cletus Kayenwee of the Rural Enterprises Program at the Ghanaian Ministry of Trade, who shared their experience contracting with the Bank on Ghana’s “One District One Factory” Enable Youth Program. The program aims to build the entrepreneurial capacity of graduate youth. Participants also heard from Abdelillah Zenjari, Deputy General Director of TEKCIM. He shared his experience partnering and obtaining a loan of €45 million to build a cement factory with a capacity of 1.4 million tons in the region of d’El Jadida in Morocco.

Over the years, the seminars have hosted approximately 2,500 delegates from 55 countries, with an average of 75% of delegates from non-regional member countries and 90% from the private sector.

For the Bank, the seminars increase interest in Bank-financed projects and enhance competition, thereby promoting higher-quality offers that deliver optimal value for money for its regional member countries.

“The sessions have also helped me to understand how to find opportunities for my firm by being better able to navigate your procurement framework and processes,” said Dede Watkin, Business Development Manager at Beale &Co, a participant.

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Finance

Nirsal: CBN Reopens Application for N50 Billion COVID-19 Loan for Households and Small Businesses

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The Central Bank of Nigeria has started receiving fresh applications for N50 billion COVID-19 loan for small businesses and households affected by the pandemic.

The CBN through Nirsal Microfinance Bank announced it has reopened its portal for households and Micro Small and Medium Enterprises (SMEs) affected by COVID-19 to access up to N25 million.

Bashir Ahmad, the Personal Assistant to President Muhammadu Buhari on New Media, disclosed this on March 10, 2021 via his Twitter handle.

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