WePay Revolutionises e-Commerce in Nigeria With Attractive Prices, Services

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

By Bliss Okperan Nigeria recorded an improvement in its trade surplus in the third quarter of 2023, according to data released by the National Bureau of Statistics (NBS), which was analysed by Business Post. The agency disclosed that in the period under review, the total value of exports stood at N10.347 trillion, while imports stood at N8.458 trillion, leaving the total value of trades at N18.802 trillion, 60.78 per cent higher than the N6.435 trillion achieved in the second quarter of 2023. Analysis showed that between July and September 2023, the country, which prides itself as the biggest economy in

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

By Modupe Gbadeyanka World leader in the energy and telecom cable systems industry, Prysmian Group is set to acquire $3 billion worth General Cable Corporation. Both firms are going into a merger as Prysmian will acquire General Cable for $30 per share in cash. The transaction values General Cable at approximately $3 billion, including debt and certain other General Cable liabilities, and represents a premium of approximately 81 percent to the General Cable closing price of $16.55 per share on July 14, 2017, the last day of trading before General Cable announced its review of strategic alternatives. The transaction, which

By Cowry Asset In the just concluded week, the local currency appreciated week-on-week in most foreign exchange market segments. The Naira depreciated against the US Dollar by at the Investors & Exporters Forex Window (I&E FXW) by 0.06 percent to N360.25/USD while it weakened by 0.05 percent to N329.42/USD at the interbank market (NIFEX). This was despite injections by the CBN worth $195 million into the foreign exchange market of which $100 million was allocated to Wholesale (SMIS), $50 million was allocated to Small and Medium Scale Enterprises and $45 million was sold for invisibles. The Naira however closed steady

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange continued its gains from the Monday session to Tuesday, June 16 as the major market barometers rose by 1.35 percent. Heavyweights like the Central Securities Clearing Systems (CSCS) Plc and Niger Delta Exploration and Production (NDEP) Plc inspired the growth posted by the unlisted securities market yesterday. The oil and gas company recorded the highest gain as its stock price rose by 8.61 percent or N25.66 kobo to close at N298.01 per unit from N272.35 per share on Monday. On its part, the second advancer, CSCS Plc, saw its stock price

By Investors Hub Firmer oil prices and the dollar recovery ahead of the FOMC meeting minutes coming out tomorrow helped to lift European stocks higher on Tuesday, although U.K stocks fell slightly in view of disappointing earnings updates from the likes of HSBC Holdings and BHP Billiton. The pan-European Stoxx Europe 600 index was up 0.10 percent at 378.62 in late opening deals after declining 0.6 percent on Monday. The German DAX and France’s CAC 40 were up around 0.2 percent, while the U.K.’s FTSE 100 was losing 0.4 percent. Edenred shares jumped more than 7 percent in Paris after

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further depreciated by 0.12 per cent on Tuesday due to sustained sell pressure from the financial services sector. Data from the bourse showed that happenings in the United States banking sector, with the collapse of two major financial institutions, sent shivers down the spines of investors in Nigeria, causing their exposure to equities in the sector. Shares prices of the foremost Nigerian lenders on the stock exchange, GTCO, Access Holdings, and UBA, weakened yesterday due to the sell-down. At the close of business, the insurance index shed 1.91 per cent, the banking

By Aduragbemi Omiyale Beneficiaries of the Government Enterprise and Empowerment Program (GEEP) 2.0 in all 36 states of the federation and the FCT will soon begin to receive funds from the federal government through Access Bank Plc. This is because the lender has partnered with the government for the seamless disbursement of the credit facility to successful applicants. In the coming days, according to the financial institution, GEEP 2.0 beneficiaries will receive congratulatory and sensitisation text messages informing them of their qualification for the empowerment loan and they would be required to repay the facility in nine months’ time without

By Modupe Gbadeyanka London-based stylist and Fashion Editor-at-Large at British Vogue, Julia Sarr-Jamois, will be at the 2018 GTBank Fashion Weekend Masterclass to discuss Authenticity in Style and Global Fashion Trends with participants. The Senior Fashion Editor-at-Large at i-D Furthermore will take her Masterclass on Sunday, November 11, 2018 from 5:45pm to 6:45pm at Plot 1, Water Corporation Drive, Oniru Estate, Victoria Island, Lagos. Sarr-Jamois is a contributor for Teen Vogue, Vogue Italia, Self Service, Double and M Le Monde. She also regularly works with leading photographers such as Harley Weir, Zoe Ghertner, Angelo Pennetta, Letty Schmiterlow, Theo Wenner and

By Adedapo Adesanya Despite the significant improvement made in cancer care in African countries over the past decade, challenges in prevention, detection and treatment services, as well as financial hurdles, are limiting access to quality and adequate care to millions of patients. To address these issues, the President-Elect of the African Organisation for Research and Training in Cancer, Dr Miriam Mutebi, has called for more hands-on solutions. According to her, cancer care in Africa has greatly improved over the last 10 years with the latest data as of 2017 showing that 71 per cent of African countries have operational national