Dividend yields on Nigerian stocks are ahead of those available on Africa’s major stock markets – but investors will have to tread carefully to avoid the pitfalls, analysts say. The dividend yield on the NSE 30 Index at the end of May stood at 6.26%, meaning income for investors was more than 50% higher than…
Plans by Nation Media to carry out Kenya’s first share buyback may be copied by other companies needing to reward shareholders as stock prices languish. The company proposed buying back up to 10% of its stock in a circular sent to shareholders on 31 May. The buyback, subject to shareholder approval, will run until 24…
A forecasted decrease in GCC sukuk, Egypt’s enticing yields, and business sectors that have thrived during the pandemic could guarantee the country an auspicious low-cost debut of the Islamic bonds. On the other hand, the sukuk could lead to a rise in utility bills. Egypt’s impending issuance of the sovereign sukuk is widely hailed as…
Nigerian banks are faced with low growth and a punitive cash reserve ratio of 27.5% at home. They are betting on the African Free Trade Zone to expand elsewhere on the continent. However, the profitability of their subsidiaries outside Nigeria is relatively average. Are they falling into an expansionary trap? A pastoral setting, an elegantly…
National Union of Postal and Telecommunication Employees (NUPTE) has said only the Nigeria Postal Service (NIPOST) has the right to collect stamp duty, and not the Federal Inland Revenue Service (FIRS). The union claimed the power to collect stamp duty given to FIRS is illegal. Speaking with reporters, President of NUPTE, Comrade Nehemiah Buba, said the union had…
Chief Executive Officer of Twitter, Jack Dorsey, on Saturday, tweeted the green-white-green Nigerian flag as the West African country marked its 2021 Democracy Day. Dorsey’s tweet, which was posted hours to the ongoing nationwide protests in Nigeria, has since attracted thousands of retweets. Many tweeps including known faces such as @HenshawKate and @mrfestusogun have since…
Sami Tunji The Food and Agriculture Organization of the United Nations has categorized Nigeria among the top 10 wheat importers in the world. This is based on the ‘Food Outlook: Biannual Report on Global Food Markets’ by FAO released on Thursday. According to the report, between 2018/19 and 2020/21, Nigeria imported averagely 5.2 million tonnes,…
Union Bank has said it will reward new and existing customers with N55m in the ‘Save & Win Palli’ promo. In a statement on Thursday, it said the campaign was introduced to provide relief to its customers as Nigeria continued to grapple with the economic hardship induced by the COVID-19 pandemic and other national issues….
Lesotho said on Thursday that several of its diplomats had been expelled from South Africa over the illicit peddling of duty-free alcohol. The foreign affairs ministry in Maseru said South Africa had given the diplomats and their families 72 hours to leave the country. https://95bcea9aee56024ef96abcbc09b60797.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html South Africa had taken the decision because the diplomats violated…
