Stocks in Africa's biggest oil producer drop
6.2% in November
London-based Alquity has cut its Nigeria
exposure to one stock


Nigeria’s stocks fell to their lowest level in
almost three years as foreigners exited the
market amid fading hopes that President
Muhammadu Buhari’s government can revive
an economy growing at its slowest pace this
century.
The Nigerian Stock Exchange All Share Index
dropped 0.8 percent to 27,385.69 at close in the
commercial capital of Lagos, the lowest since
December 2012. The gauge declined on all but
three trading days in November for a monthly
drop of 6.2 percent.


“The government has not come up with a
definitive policy for the economy,” Pabina
Yinkere, an analyst at Vetiva Capital
Management Ltd., said by phone from Lagos.
“The continued lack of clarity is affecting the
stock market.”


While Buhari, a 72-year-old former general who
came to power in May, has prioritized stamping
out corruption in Africa’s biggest economy and
oil producer, investors were irked by a delay of
more than five months in forming a cabinet ,
which he swore in Nov. 11. There’s also concern
that his support for the central bank’s currency-
trading restrictions are choking businesses of
the dollars they need to pay foreign suppliers.
Almost two stocks declined for every one that
rose. Guaranty Trust Bank Plc, the nation’s
biggest lender by market capitalization, dropped
2.7 percent to 20 naira ($0.10). The stock is
down 21 percent this year, about the same as
the overall index. That’s the biggest fall in sub-
Saharan Africa after the Zimbabwe Industrial
Index.
Specialist African funds including Alquity
Investment Management Ltd. and Duet Asset
Management Ltd. have lowered their Nigerian
exposure because they think that central bank
Governor Godwin Emefiele will be forced to
devalue the naira, which would cause losses on
holdings in foreign-currency terms. Last week’s
interest rate cut by the central bank, its first in
six years, will heap more pressure on the
currency, according to David McIlroy, Alquity’s
chief investment officer.
The naira was unchanged at 199.05 per dollar
and has been all but fixed at 198 to 199 since
early March. Forward prices suggest it will
weaken to 241.25 in a year.

Pressure on Currency
“The surprise reduction in rates has probably
worried international investors even more,”
McIlroy said by phone from London. “Given the
inflation rate is above the central bank’s target,
there’s pressure on the currency and they need
to attract foreign capital, you’d expect interest
rates to be rising.”
Annual inflation was 9.3 percent in October,
higher than the central bank’s target of 6
percent to 9 percent.
Alquity held about seven Nigerian stocks at the
beginning of 2015, including Guaranty Trust
Bank and Zenith Bank Plc. It now holds only
Dangote Cement Plc. Equity funds are more
underweight in Nigeria than any other frontier
and emerging market, except for Kuwait and
Morocco, analysts at Renaissance Capital Ltd.
said in a Nov. 23 note to clients.
“We’ve increased our positions in Egypt and
Kenya at the expense of Nigeria,” McIlroy said.
Nigeria is reeling from crude prices that have
plunged 57 percent since June 2014. Economic
growth will slow to 3.2 percent this year from
6.3 percent in 2014, according to a Bloomberg
survey of economists. That would be the slowest
pace since 1999.


http://www.bloomberg.com/news/articles/2015-11-30/nigeria-s-stocks-fall-to-three-year-low-as-foreigners-exit

by Paul Wallace and Emele Onu

This is just the beginning .

The beginning has not even started yet.

posters above me don kolo

Venture Capital Firm 500Startups Seeks First Nigeria Tech Deals


500Startups, a Silicon Valley venture-capital firm with more than $175 million under management, is seeking its first investments in Nigerian technology companies as Africa’s most-populous nation encourages industries that will reduce its reliance on oil.

The firm “would like to invest in at least one to two Nigerian tech companies in the next year,’’ Andrea Barrica, venture partner at Mountain View, California-based 500Startups, said Wednesday in an e-mailed response to questions. Nigeria’s “big population and increasing access to technology and payments’’ make it an attractive market, she said.

The U.S. investor is looking to add Nigerian assets to 10 investments on the continent in markets including Egypt, Ghana, Kenya and South Africa. It’s the latest venture-capital firm to show interest in the country, with Boulder, Colorado-based TechStars saying last week it’s seeking opportunities in the Nigerian information and communication technology industries.
Barrica, who in September met business owners in Lagos, Nigeria’s commercial capital, said 500Startups is targeting companies engaged in “technologies, software, online marketplaces and e-commerce.” The firm plans a $200 million fund to invest in such opportunities around the world.

Africa’s largest oil producer introduced an information and communication policy in 2012 to boost investments in these industries and counter a reliance on income from crude, which accounts for two-thirds of state revenue and more than 90 percent of export earnings. The government wants to increase broadband penetration fivefold from 4 percent of the population, according to the National Broadband Plan for 2013-2018.

http://www.bloomberg.com/news/articles/2015-10-15/venture-capital-firm-500startups-seeks-first-nigeria-tech-deals

^^^^^ Great news also from Bloomberg..


Sai PMB

Sai Nigeria...

Ornua opens Kerrygold packing factory in Nigeria

Ornua, formerly the Irish Dairy Board, has opened a new Kerrygold packing factory in Nigeria.

The investment is the latest in a series of major global investments by Ornua as it seeks to expand routes to market for Irish dairy produce.

Irish powdered milk will be exported to Nigeria, Africa's largest economy, and packaged at the facility.

It will be marketed under the Kerrygold brand.

Kerrygold powders are sold in small sachets, pouches or tins, primarily through small distributors.

Ornua opened its African headquarters in Port Elizabeth in South Africa in 2013 and currently employs 250 people.

Nigeria is one of the top three importers of powdered milk products in Africa and the largest importer of full-fat milk powder.

The new factory is a joint venture between Ornua and distribution and packing partners, Fareast Mercantile Company Limited (FMCL).

Recent major investments include the development of new and expanded production and innovation facilities in North America, Germany, Spain, the UK, Saudi Arabia, as well as here in Ireland.

Welcoming the opening of the facility Ornua CEO Kevin Lane described the latest facility as "another important step in our growth plans for Africa".

The facility was opened in Lagos by Minister for Agriculture, Food and the Marine Simon Coveney, who is currently leading a trade mission to Nigeria.

http://www.rte.ie/news/business/2015/1202/750621-ornua-nigeria/



Sai PMB

Sai Nigeria

For every vengeful and negative rubbish you post, I'll reply with 2 passive news.

aresa:
For every vengeful and negative rubbish you post, I'll reply with 2 passive news.

This type of blind support gets us nowhere.

I didn't write the article.
The writer is not even Nigerian, he simply stated the facts.

Anyone who says the blind truth automatically becomes vengeful.
Our stock market has crashed with businesses losing billions of dollars and you are posting about Kerrygold.

Buhari just like his supporters seem to be too scared to face the truth.

hmmm did we really make a mistake or is it still too early to judge? now am getting scared

meanwhile

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[s]

eaglechild:

This type of blind support gets us nowhere.

I didn't write the article.
The writer is not even Nigerian, he simply stated the facts.

Anyone who says the blind truth automatically becomes vengeful.
Our stock market has crashed with businesses losing billions of dollars and you are posting about Kerrygold.

Buhari just like his supporters seem to be too scared to face the truth.

[/s]


I did not write what I posted to, the same writer that wrote the same crap you posted wrote the same article I posted, but you conveniently saw and posted the bad that makes you happy and joyous while ignoring the good on the same page you got your trash from.

See, I know you people like the back of my hand. You are all sadists and enemy of progress, all you do is wish bad, doom and gloom for other people, bad news makes you happy, it's all you people live for..

Blind and odious 16 years support for the PDP that got you nowhere ad left you empty handed is what's driving you people crazy and mental, you have no more card to play hence your violent and destructive biafra foolery. The rest of the country have moved on even Jona and his Ijaw people have moved on, but not you vengeful and hateful people.

We both know what's good for Nigeria is bad news for you and what's bad for Nigeria makes you failed biafra and anti Nigeria people happy and joyous, but you are failing like you've been failing since day one.

Evil and wishing evil and bad is what kills evil and bad wising people...

aresa:
[s][/s]


I did not write what I posted to, the same writer that wrote the same crap you posted wrote the same article I posted, but you conveniently saw and posted the bad that makes you happy and joyous while ignoring the good on the same page you got your trash from.

See, I know you people like the back of my hand. You are all sadists and enemy of progress, all you do is wish bad, doom and gloom for other people, bad news makes you happy, it's all you people live for..

Blind and odious 16 years support for the PDP that got you nowhere ad left you empty handed is what's driving you people crazy and mental, you have no more card to play hence your violent and destructive biafra foolery. The rest of the country have moved on even Jona and his Ijaw people have moved on, but not you vengeful and hateful people.

We both know what's good for Nigeria is bad news for you and what's bad for Nigeria makes you failed biafra and anti Nigeria people happy and joyous, but you are failing like you've been failing since day one.

Evil and wishing evil and bad is what kills evil and bad wising people...

Wow
What has all this got to do with the crashed stock and the lack of economic policies by Buhari which has crippled the economy

Stop worshipping your tormentors.

Good question above... It's just like saying we shouldn't complain about people losing their jobs in large number because other companies are employing in few numbers.. So for every large number of workers laid off, you will post one Chinese company employing factory workers as jobs being created by this govt.. All these APC fans sef..

The worst part is that if you criticize, they call you IPOB... Nonsense..




Meanwhile, visit this thread for sales and installation of
wallpapers, 3D panels etc..
www.nairaland.com/2740519/meriekriss-intl-services-
sales-installations

Uwa mmebi (igbo language).
.
.
Opin aye (yoruba language).
.
.
Anyone who voted for this govt,and he/she is already complaining, the thunder that will fire u, is in Russia buying inter-ballistic misiles.

aresa:
For every vengeful and negative rubbish you post, I'll reply with 2 passive news.

Mr. aresa it is not everyone criticizing the current government policies does so hatefully. The main issue now is peoples legitimate means of livelihood are under attacks by government policies and the government is not even talking about those facts at all.

"" Those foreign investors you have listed would eventually be discouraged when they are faced with the reality of currency restrictions.
"" You have listed two prospective investors but tens of foreign-backed investments are leaving our shores everyday.
"" Do you even have an inkling of how many businesses that have been made redundant or forced to lay-off bread-winners?
"" Many people commenting here do not work for government - in fact many fanatically fought for APC but the reality now is that the President and APC prioritize travel and propaganda to solving real problems bedeviling the people.

For your information:

""Any individual cannot access more than $1000 every month. But the average US university school-fees can be between $10,000 - $23,000 per annum. So how do you expect the expatriates (or the investors you are expecting) and Nigerians alike based in Nigeria to run their financial affairs that can only be done in dollars.

"" As it stands today if you want to do international transactions (involving paying for suppliers abroad for instance) there is virtually no dollars to use. Why? because the Buhari-led-administration has instructed so. How do you expect foreign investors to survive with such illogical policy.

"" But leaving a bad taste in the mouth is the revelation that the same government bragging "naira protection" has been running the Presidential fleets in dollar payments within Nigeria to a tune of about 2.5 billion naira. So the government can do business in dollars? but denying common people access to do their own normal businesses.

AfricanFinest:
The beginning has not even started yet.

The truth my brother is had to swallow. the dullard of a leader should get ready to kill more of us cos he can't force our unity. We want out even if we have to die to get. My children will know the land of the rising sun as a country of their own and not this Islamic and northern zoo experiment of a country carried out by one tea drinking bearded luggard.

zubizareta:
Good question above... It's just like saying we shouldn't complain about people losing their jobs in large number because other companies are employing in few numbers.. So for every large number of workers laid off, you will post one Chinese company employing factory workers as jobs being created by this govt.. All these APC fans sef..

The worst part is that if you criticize, they call you IPOB... Nonsense..




Meanwhile, visit this thread for sales and installation of
wallpapers, 3D panels etc..
www.nairaland.com/2740519/meriekriss-intl-services-
sales-installations

Very sad indeed.

A value speculation for the most part alludes to the purchasing and holding of shares of stock on a securities exchange by people and firms in reckoning of wage from profits and capital additions, as the estimation of the stock ascents.

Equity Investment UP | Shares Market UP

Lalasticlala I believe this needs urgent attention.