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Stocks: Foreign Investments Rise by 59.8% in One Year

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  • Stocks: Foreign Investments Rise by 59.8% in One Year

Foreign portfolio investment transactions in the country’s stock market rose by 59.81 per cent by the first half of this year compared to the corresponding period of last year.

The FPI transactions were increased from N269.22bn to N430.23bn in the 12-month period, market data of the Nigerian Stock Exchange made available to our correspondent on Wednesday showed.

Similarly for the period under review, the total domestic transactions increased by 42.19 per cent from N355.19bn to N505.03bn.

Thus, total transactions at the nation’s bourse increased by 7.13 per cent from N205.61bn recorded in May to N220.27bn (about $0.72bn) in June this year. Also, total transactions for the first half of the year increased by 49.78 per cent from N624.41bn recorded in the same period of 2016 to N935.26bn.

Domestic investors outperformed foreign investors by 7.82 per cent. The total domestic transactions increased by 7.53 per cent from N110.42bn recorded in May 2017 to N118.74bn in June 2017. Foreign transactions also increased by 6.66 per cent from N95.19bn to N101.53bn within the same period.

Monthly foreign inflows outpaced outflows. However, foreign inflows decreased by 10.95 per cent or N65.93bn in June from N73.15bn in May, while foreign outflows increased by 38.09 per cent from N22.04bn to N35.60bn in the same period.

For the domestic composition of transactions on the Exchange between January and June, the institutional composition of the domestic market decreased by 17.09 per cent from N67.95bn recorded in May to N56.3bn in June.

However, the retail composition increased by 46.92 per cent from N42.47bn to N62.40bn within the period. This indicated a higher participation by retail investors over their institutional counterparts for the first time this year.

Since 2011, foreign transactions have consistently outperformed domestic transactions. However, domestic transactions marginally outperformed foreign transactions in 2016, accounting for 55 per cent of the total volume that year.

Also, foreign transactions declined by 66.34 per cent from N1.539tn in 2014 to N518bn in 2016, representing about 45 per cent of total transactions last year.

Over the nine-year period, domestic transactions had significantly decreased by 85.43 per cent from N3.556btn in 2007 to N634bn in 2016.

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.

Finance

Nestle Nigeria Approves Final Dividend of N35.50k per 50 Kobo Ordinary Share for 2020

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Nestle

Nestle Nigeria Approves Final Dividend of N35.50k per 50 Kobo Ordinary Share for 2020

Nestle Nigeria, a leading food and beverage company, has declared a final dividend of N35.50k per 50 kobo ordinary share for the year ended December 31, 2020.

The beverage company said N24.50k of the amount declared was from the after-tax profit of 2020 and N5 and N6 were from the after-tax retained earnings of the years ended December 2019 and 2018, respectively.

Nestle Nigeria stated that the amount declared is subject to appropriate withholding tax and approval at the Annual General Meeting of shareholders.

It also noted that payment will be made only to shareholders whose names appear in the Register of Members as at the close of business on 21 May 2021.

Dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 21 May 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on their website: www.gtlregistrars.com, complete and submit to the Registrar or their respective Banks.

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Banking Sector

Dennis Olisa Invests N53.6 Million in Zenith Bank

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Executive Director of Zenith Bank Plc Buys 2 Million Shares of Zenith Bank at N53.6 Million

Executive Director of Zenith Bank Plc, Dennis Olisa, has invested a combined N53.58 million in shares of Zenith Bank.

The leading financial institution stated in a disclosure statement filed with the Nigerian Stock Exchange (NSE) on Monday.

Olisa carried out the purchase in two different transactions on February 24, 2021 at the Nigerian Stock Exchange in Lagos, Nigeria.

He purchased 1 million units of Zenith Bank at N26.60 each and another 1 million shares at N26.50 per share.

On aggregate, Olisa purchased 2 million shares of Zenith Bank at N26.79 per share or N53.58 million. See the details below.

Dennis Olisa was appointed as Zenith Bank’s executive director three years ago.

Prior to his appointment, Mr. Olisa was the Chief Inspector at Zenith Bank Plc and served as its Director from March 3, 2017 until March 16, 2017.

He also served as General Manager and Heads of the Energy Oil & Gas Group at Zenith Bank Plc and served as its Deputy General Manager. He served as Head of Internal Control & Audit Group at Zenith Bank Plc

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Finance

Emefiele Pledges Accommodative Monetary Policy to Boost Economic Growth

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Godwin Emefile

Emefiele Pledges Accommodative Monetary Policy to Boost Economic Growth

The Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has pledged to adopt accommodative monetary policy stance in 2021 in order to support economic growth in the country.

Emefiele, said this on Friday, while speaking at a CBN/Bankers’ Committee’s initiative for economic growth, which is a one-day special summit on the economy by bank chief executive officers.

The theme of the summit is: “How to Overcome the Pitfalls of Recession.”

Nigeria’s economy recently came out of recession, according to the Gross Domestic Product report for fourth quarter 2020 released by the National Bureau of Statistics.

Owing to the slump GDP growth of 0.11 per cent that lifted the economy out of recession, Emefiele said it was imperative that, “we do all we can in 2021 and beyond to ensure that we build on the positive momentum and strengthen our efforts at stimulating growth.”

He expressed optimism that with the discovery and deployment of vaccines worldwide, 2021 would be a year of massive global recovery and Nigeria must not be left out.

“The banks CEOs are here, whether by moral suasion or by force, they will have to participate in this journey. In order to drive and sustain this recovery therefore, we need to sustain the accommodative fiscal and monetary policy measures aimed at improving access to finance for households and businesses.

“Secondly, we must prevent a resurgence in Covid-19 related cases. Thirdly, we must ensure that a significant number of our population is significantly vaccinated and also improve foreign exchange inflows into our country,” he added.

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