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NCF, Others Seek Investment in Solar Energy Generation



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  • NCF, Others Seek Investment in Solar Energy Generation

The Nigerian Conservation Foundation and Skangix Development Company Limited have called for more investment in nature-friendly energy sources such as solar.

According to them and other stakeholders, it has become crucial to invest in such options considering the rate at which the country’s natural resources are being depleted to produce energy.

The Director-General, NCF, Mr. Adeniyi Karunwi, at the foundation’s Energy Week, themed, ‘Energy: Make it nature-friendly’, said they aimed to promote the concept of clean energy among secondary school children in Lagos State.

“This is a vital premise to advocate for the protection of our planet as energy efficiency and use of renewable energy will greatly reduce our dependence on fossil fuel,” he said.

Karunwi stated that fluctuating power supply had hampered the nation’s productivity, making it difficult to attract foreign investors.

He stated, “Furthermore, local investors are facing a lot of loss in revenue due to the perennial power challenge. It is in view of this that countries with advanced technologies sought a lasting solution to this problem, which the Lagos State Government is currently imbibing. As partners, the NCF and Skangix are promoting renewable energy and advocating actions to embrace the use of solar energy.

“With limited resources, now is the time to promote sustainable energy policies, which put human well-being and the environment first; we must balance our demand for energy with our rapidly shrinking resources. Our actions today will help protect our future. Every second, the sun produces enough energy to sustain the Earth’s need, therefore, there is a need to harness this energy to stem problems associated with fossil fuel usage such as global warming.”

The Managing Director,Skangix Development Company, Mr. Sam Coker, said 31 public and private secondary schools voluntarily participated in the essay competition titled, ‘Sun: Energy for the future’ and ‘The energy crisis: Conventional energy vs solar energy’ in both the junior and senior school categories.

“Their standard of performance in the essay topic seems to demonstrate and reflect the slow but steady growth and awareness of the society in the realisation of the importance of this form of energy supply to us here in Nigeria, but more especially for the countries living within the tropics,” he said.

Coker added that his firm was an energy service company committed to advocating and providing solar energy solutions, with a strong belief in the utilisation of the sun’s solar energy potential as an alternate source of energy to sustain the nation’s growing economy.

The Managing Director, Energy Domain Limited, Mr. Fela Aromolaran, said there was a need for the public and private sectors to forge a partnership to develop solar energy.

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


FBNQuest Mutual Funds returns 104%



FBNQuest Asset Management, a subsidiary of FBN Holdings, has held yearly general meetings for five mutual funds managed by the firm.

The funds are the FBN Balanced Fund, FBN Smart Beta Equity Fund, FBN Eurobond Fund, FBN Bond Fund and the FBN Money Market Fund.

The Fund Manager continues to deliver commendable results, as demonstrated by strong performance across all its funds.

The FBN Bond Fund was the best performing of the mutual funds, returning 104.20 per cent over five-year while its US Dollar fund, the FBN Eurobond, returned 48.43 per cent in US dollars over the same period.

The Managing Director of FBNQuest Asset Management, Ike Onyia, said: “Our strong performance track record is premised on the research capabilities, insights and experience of our portfolio management and research teams. Our mutual funds serve as useful investment options useful in formulating unique and value-adding investment strategies for various client segments. This is because our range of mutual funds cut across various asset classes including equities, bonds and money markets.”

“Our funds remain easily accessible, as our goal is to continue to drive financial inclusion and democratise wealth creation, by supporting the financiainclusion and democratise wealth creation, by supporting the financial security aspiration of investors” he added.

Increasingly, financial markets are becoming complex to navigate and as a result, it will not be out of place for investors to actively seek the inclusion of mutual funds in their investment portfolio, which will serve as the structured gateway to such markets. Seeking the help of experienced financial planners to assist you in establishing your risk tolerance levels and advise on suitable options is highly recommended.

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SEC Warns Against Proliferation of Unregistered Investment Platforms



The Securities and Exchange Commission (SEC) has warned the investing public to be wary of the proliferation of unregistered online investment and trading platforms facilitating access to trading in securities listed in foreign markets.

SEC’s warning was conveyed via a circular issued in Abuja, Thursday to capital market operators.

It advised the investing public to seek clarification as may be required via its established channels of communication on investment products.

The circular read: “The attention of the SEC has been drawn to the existence of several providers of online investment and trading platforms which purportedly facilitate direct access of the investing public in the Federal Republic of Nigeria to securities of foreign companies listed on securities exchanges registered in other jurisdictions.

“These platforms also claim to be operating in partnership with capital market operators (CMOs) registered with the Commission.”

The Commission categorically stated that by the provisions of Sections 67-70 of the Investments and Securities Act (ISA), 2007 and Rules 414 & 415 of the SEC Rules and Regulations, only foreign securities listed on any exchange registered in Nigeria may be issued, sold or offered for sale or subscription to the Nigerian public.

Accordingly, the SEC notified CMOs who work in concert with the referenced online platforms of the Commission’s position and advised them to desist henceforth.

Public to seek clarification as may be required via its established channels of communication on investment products advertised through conventional or online mediums.

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SoftBank Reaps $33 Billion Coupang Windfall



SoftBank Group Corp on Thursday racked up a roughly $33 billion gain on paper through the public market debut of South Korea’s largest e-commerce company, Coupang Inc, the latest sign of a dramatic turnaround for its $100 billion Vision Fund.

Shares of Coupang opened 81% above their offer price on Thursday, after the company raised $4.6 billion in the U.S. stock market’s biggest initial public offering this year.

SoftBank paid around $3 billion for a 37% stake in the company, according to sources familiar with earlier fund-raising, giving it a roughly $33 billion headline profit if prices hold.

Coupang’s hugely successful stock market launch is welcome news for SoftBank, which is grappling with the collapse of billions of dollars worth of funds linked to Britain’s Greensill Capital, a supply chain finance start-up.

Vision Fund is Greensill’s biggest backer.

The Japanese conglomerate last month reported third-quarter net profit ballooned more than 20 times thanks to a recovery at the Vision Fund, a huge venture capital operation famous for investing early in Uber and other tech industry startup successes.

Only a year ago, SoftBank had been smarting from the flopped IPO and collapse in value of office sharing firm WeWork, raising questions over whether Chief Executive Officer Masayoshi Son had lost his midas touch and threatening plans to establish a successor to Vision.

The COVID-19 pandemic has also forced Son to sell assets but a second deal reported by Reuters on Thursday bodes well for VF II, a second, smaller fund.

The $225 million late-stage funding round for healthcare startup Forward Health was its first major investment this year, following a pickup in activity and the group’s fortunes in the second half of 2020.

The Vision Fund also made $11 billion on a blockbuster market launch of DoorDash Inc in December, which valued the food delivery company at more than $70 billion.

It also made gains on home seller Opendoor Technologies Inc’s initial offering in December.

The fund still holds large stakes in China’s biggest ride-hailing firm Didi, as well as Uber’s Southeast Asian rival Grab.

SoftBank is also trying to ride the mania for special purpose acquisition companies, launching a handful of blank-check firms this year, although none of them have found investment targets yet.

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