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Nigerian Equities Market Posts Worst Return In Africa

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Nigerian Equities Market Posts Worst Return In Africa-Crystal News

The Nigerian Exchange Limited All-Share Index posted the worst gains among African stock markets at -2.53 per cent year-to-date as of September 7, according to African Markets.

African Markets is a provider of financial market data, news, analysis, and research with a focus on Africa.

Data from the website showed that among 17 stock exchanges across Africa tracked by the index, the NGX posted the lowest returns YTD, followed by the Botswana Stock Exchange Domestic Companies Index at -1.93 per cent.

The Rwandan Stock Exchange ASI also saw negative returns as it depreciated by 0.82 per cent YTD.

On the positive side, the Zimbabwean ASI jumped by 150.38 per cent YTD, posting the highest gains on the continent while the Ghana SE Composite Index followed at 42.10 per cent.

The Lusaka Stock Exchange, Namibian Exchange Overall, and the Bourse Régionale des Valeurs Mobilières which is the regional stock exchange of francophone West Africa increased by 22.76 per cent, 22.09 per cent and 21.05 per cent respectively.

However, looking at the chart by year-on-year returns, the NGX ASI saw the second-highest appreciation as it rose by 53.30 per cent, coming second to the Zimbabwean SE ASI at 340.16 per cent.

The Ghana SE Composite was third highest with a 49.94 per cent gain while the Botswana SE Domestic Companies Index recorded the highest negative losses at -4.27 per cent.

Mr Olaide Baanu, a research analyst at Atlas Portfolios Limited, told our correspondent that Nigeria having experienced a recession last year was very lucky to exit the recession in the third quarter of 2020.

He explained that based on what other countries experienced around the world, Nigeria was able to cushion the effects of the pandemic with the financial sector contributing more to the Gross Domestic Product.

He said, “The financial sector on the NGX too performed quite well during the second half of the year. The financial services providers are some of the most capitalized stocks on the NGX; so they were partly responsible for the positive movement in the market.

“Companies like Total Nigeria Plc (now Total Energies Marketing Plc), Seplat Energies Plc and Nestle Nigeria Plc also saw good returns on equity.

“Industrial firms like Dangote Cement Plc and Lafarge Africa Plc saw gains too and posted positive financials. Telcos like MTN and Airtel Africa Plc benefited from the digital boom of last year as their data revenues rose which fueled investor confidence in their fundamentals.

“The depression this year is attributable to profit-taking from investors. They were withdrawing their gains to the fixed income markets. Because of the divergent nature of our fixed income and equities markets, when one benefits, the other loses.

“The derivatives market is still immature while the commodities market has yet to gain much ground. So the focus is mostly on equities, bonds and treasury bills. Around January till lately, the fixed income market has posted better returns than last year, while the equities market has corrected due to sell-offs.”

The PUNCH had earlier reported that net foreign portfolio investment this year stood at –N11.48bn as foreign investors withdrew more gains from the exchange than they invested as of June 30.

Foreign investor’s overall interest in the market also declined year on year, according to a report from the NGX.

Managing Director at Credent Investment Managers, Mr Ibrahim Shelleng, said, “The rebound in the equities market last year was as a result of low yields in the fixed income and money markets.

“At some point, treasury bills were in the negative territory and investors moved to the equities market to improve returns.”

He said foreign investors that were unable to exit due to forex illiquidity entered the equities space to improve their yields.

With the rebound in fixed income yields, he added, investors had shifted back to secure yields to reduce the volatility the stock market brought.

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It’s 7 Star Performance for Chain Reactions at 2024 SABRE Awards

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It was a seven-star performance for Chain Reactions Africa (CRA), one of Africa’s leading Public Relations and Integrated Communications Consultancy as it took home seven African SABRE trophies, more than any other public relations firm in Africa in the 2024 competition.
The awards which were held at the end of the annual African Public Relations Association (APRA) Conference, were presented by Provoke Media, organisers of the awards in Basam, Abidjan, Cote D’Ivore on May 16th 2024.
The work covered campaigns for the Lagos Metropolitan Area Transport Authority (LAMATA), and its Lagos Blue Rail, 9mobile’s The Hack – Expand Your Hustle’, ‘Taming the Bull’ for the Presidency, ‘Next Era of Happiness’ for leading biscuit company, Pladis Foods Nigeria Limited.
Receiving the awards on behalf of Chain Reactions and its clients, was its Managing Director/Chief Strategist, Israel Opayemi, who noted that this is a seven-star performance by Chain Reactions Africa at the 2024 SABRE Awards.
In his comments Opayemi said “to emerge as the highest winner at the 2024 edition of the award with seven SABRE Awards is humbling as well as exciting for us at Chain Reactions Africa. We are immensely proud to be honoured on such a global platform like the SABRE awards which is the holy grail of Public Relations globally as the awards programme is dedicated to benchmarking the best PR works across the globe.”
He continued, “I am making a three-fold dedication of these multiple trophies to our clients who believe in us, my team members who do the brave works relentlessly and our dear country Nigeria. Ten years ago, we were at the SABRE Awards in Miami, Florida in the United States watching and applauding as winners took turn on stage. Ten years ago, we were asking for a seat at the table. Today, we are sitting in creative resplendence at the head of the table. Today, we are flying the Nigerian flag on the global stage. We are now a territory of reckon and relevance in the global PR space.”
It seems winning awards is just a Chain Reactions thing, chuckled Arun Sudhaman CEO and Editor-in-Chief of Provoke Media, organizers of the SABRE Awards as Opayemi rose up seven times to receive the awards. The PR consultancy also picked up four Certificates of Excellence in recognition of its work launching the Nigerian Youth Trend Report 2024 known as ‘ARAMANDA’, ‘Next Era of Happiness’, ‘Lagos Blue Rail’, ‘The Hack – Expand Your Hustle’, and ‘Taming the Bull’.
In his reaction, President and Chairman of Council of the Nigerian Institute of Public Relations (NIPR) described the awards by Chain Reactions Africa as “a harvest of honours for Nigeria”. He thanked the Chain Reactions Africa team for their outstanding works saying, “thank you for making us proud.”
Chain Reactions Africa has over the years won several prestigious SABRE awards and has been awarded more than 15 Certificates of Excellence. At last year’s award, the company won CEO of the Year category for the Lagos State Governor, Babajide Sanwo-Olu for use of public relations to tell the story of his administration’s achievements and scooped two Certificates of Excellence in the Corporate Image category for the ‘Momentum Campaign’ for Cellulant, a flagship payment solution provider; and ‘Marketing to Consumers’ category for ‘The #NaijaHighlandah Campaign’ for William Lawson’s, Scotch Whiskey brand.
The 2024 Africa SABRE Awards shortlist included more than 120 campaigns, selected from over 500 entries in this year’s competition, which recognises Superior Achievement in Branding, Reputation and Engagement. The campaigns were evaluated by a jury of industry leaders.

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Abuja Investments Company Limited Launches Automated System

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In a significant stride toward modernization and efficiency, Ambassador Maureen P. Tamuno, Group Managing Director and CEO of Abuja Investments Company Limited (AICL) has unveiled an Automated Tollgate System for streamlining access control, security enhancement, and facilitation of smoother operations in Garki Ultra -Modern Market in the Federal Capital Territory.

According to Fatima Nadada, Head of Communications, AICL, the automated system will among other things provide: Smart Access Control; also, the new system employs cutting-edge technology to regulate entry and exit at the market gates by ensuring that only authorized individuals can access the premises.

“In addition, there is room for real-time monitoring of activities as market administrators can monitor activities at the gates in real time, allowing for prompt responses to any anomalies or security breaches.

 “Also, the system collects data on foot traffic, peak hours, and patterns. Thus, enabling informed decision-making by the management of the market, as well as efficient revenue collection, since it will improve automated payment processing, simplifies fee collection, reduce paperwork and enhance transparency.”

In her remarks at the event, Ambassador Tamuno expressed enthusiasm on the milestone and was optimistic that the automated system would not only empower market stakeholders but contribute to the growth of FCT’s economy.

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Bigi Carbonated Soft Drinks Treats 40 Consumers to an Epic Easter Movie Hangout

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Reinforcing her commitment to a delightful consumer experience, Bigi Carbonated Soft Drinks, a leading brand from Rite Foods Limited, hosted 40 lucky fans to an impressive Easter celebration. This exciting Easter movie hangout took place at Silverbird Cinemas, Ikeja City Mall, Lagos, and featured a screening of the movie, “Beast of Two Worlds (Ajakaju)”.

The movie’s portrayal of traditional Nigerian society alongside its thrilling plot left the Bigi consumers thoroughly entertained. After the movie, the fans received exciting freebies and expressed their gratitude to the Bigi brand for this special Easter treat.

Biola Aransiola, Assistant Brand Manager, Bigi, commented on the event, highlighting Bigi’s dedication to showing appreciation to their consumers. “This movie hangout served as a way to celebrate Easter with our loyal fans and provide them with a truly extraordinary experience, all while enjoying the refreshing and diverse range of 13 Bigi flavours,” Aransiola stated.

Bigi Carbonated Soft Drinks has consistently demonstrated a strong commitment to consumer well-being. The brand actively connects with its audience by creating opportunities to fulfill their dreams and offering refreshment throughout their journeys. Bigi’s dedication to its consumers is further solidified through sponsorships of various initiatives, earning them prestigious awards such as the “Most Innovative Carbonated Soft Drink Brand of the Year” (2023), “Friendly Brand of the Year” (2023), and “Best Value for Money-Carbonated Soft Drink Brand” (2023), among others

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