Aja: Expect more mergers and acquisitions among banks

Aja: Expect more mergers and acquisitions among banks

The Nigerian economy performed better in 2019 compared to the 2018, especially in the final quarter of last year.  In the first half of 2019, GDP growth rate levelled at two per cent against 1.8 per cent in 2018. Even in 2018, the Nigerian banking sector was adjudged the second largest fastest growing banking industry in the world. Its Return On Equity (ROE) more than doubles the six per cent achieved by banks in developed markets.  Revenue of the top five lending banks; UBA, GTB, Access Bank, FBN Holdings and Zenith Bank for full year 2018 stood at N1.920 trillion while their profits after tax improved to N640.2 billion and this continued in 2019.

Ginger Prices Surge Higher |AFEX

Ginger Prices Surge Higher |AFEX

Ginger Prices Surge Higher |AFEX

In the week under review, the AFEX Commodities Index (ACI) increased slightly by 0.06% closing the week at 163.05 points. the narrow gains witnessed in the ACI were stimulated by a 0.20% gain in the price of maize  leading to a reversal of the two week losing streak in the benchmark commodities index.

Despite a broad-based lull in the prices of commodities on the exchange,  ginger and maize posted gains of 2.09% and 0.20% to settle at ₦492,130 and ₦92,533. Ginger prices have also witnessed a staggering gain of  11.52% Season-to-date(STD).

The open market also witnessed a positive price performance this last week as Sorghum led the pack rising 6.47% Week-to-Date to close at ₦82,280. Soybean and Maize also gained in price closing at an average price of ₦135,340 and ₦100,870 respectively. 

NEW DEALS

NEW DEALS

DEALS – FEB 19, 2020Telecom & IT

  • Investment criteria:
    • Revenue: US$ 5mn to 20mn
    • EBITDA: US$ 1mn to 10mn
    • Stake required: Less than 50%
  • More about the client: Japanese investor looking for opportunities in the Telecommunication and IT sector across the globe. Click here to know more about this requirement 

Submersible Motor Pumps

  • Acquisition criteria:
    • Revenue: US$ 5mn to 500mn
    • EBITDA: US$ 2mn to 30mn
  • More about the client: Global strategic acquirer is interested in the manufacturers for submersible motors pumps and components for Oil & Gas (Offshore & Onshore), Water pumps (Cooling & Hot Water). Click here to know more about this requirement 

Ophthalmology surgical, Intraocular lens

  • Acquisition criteria:
    • Revenue: US$ 10mn to 250mn
    • EBITDA: US$ 0mn to 30mn
  • More about the client: Seeking companies manufacturing ophthalmological Surgical Devices & intraocular lenses, and other medical equipment across the globe.

Building Materials | Fasteners

  • Acquisition criteria:
    • Revenue: US$ 15mn to 200mn
    • EBITDA: US$ 2mn to 30mn
  • More about the client: Seeking companies specializing in wood construction connectors, cold-formed steel connectors, fasteners & fastening systems, Adhesive Anchors, etc

Vertical Software

  • Acquisition criteria:
    • Revenue: US$ 5mn to 500mn
    • EBITDA: US$ 0mn to 20mn
  • More about the client: Seeking industry-specific software companies providing solutions to Legal, Accounting, Auditing, Tax, Compliance functions or any other industry.

You can connect with these investors and many more to share your deals by replying to this email or add it info@optionxpress.com.ng That’s all!

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Hong Kong’s economy is in peril, but its financial system is not – The Economist

Hong Kong’s economy is in peril, but its financial system is not – The Economist

As they repay their debt to society, many Hong Kong prisoners are put to work making useful items like road signs, uniforms, furniture—and the surgical masks that now obscure the faces of almost everyone on the city’s subdued streets. To help stop the spread of the Wuhan coronavirus, which has infected over 28,000 people worldwide, prisoners will now be employed round the clock, boosting mask production by as much as 60%. https://www.economist.com/leaders/2020/02/06/hong-kongs-economy-is-in-peril-but-its-financial-system-is-not?utm_campaign=the-economist-today&utm_medium=newsletter&utm_source=salesforce-marketing-cloud&utm_term=2020-02-11&utm_content=article-link-6

We shall not bow|Femi Kayode

We shall not bow|Femi Kayode

DAILY FINANCIAL MARKET SUMMARY

The Nigerian equity market on Tuesday halt losing streak of two consecutive trading sessions, following bargain hunting on bellwether stocks like MTNN, ZENITHBANK, and 11 others. However, the market breadth closed negative, recording 13 gainers against 17 losers.

In summary, the All-Share Index (ASI) increased by 99.71 absolute points, representing a growth of 0.36% to close at 27,871.90 points, However, the overall Market Capitalization size gained N51.93 billion, representing a growth of 0.36% to close at N14.52 trillion.

UACN emerged as the top gainer while SKYAVN emerged as top loser. Source|GTI