Nigerians now have more options to buy shares in Amazon, Google, Alibaba, as investment trading platform, Chaka launches in Nigeria. The Nigerian-based tech company operates an international and local trade platform that enables Nigerians and foreigners buy shares from US, China and 40 other countries, including Nigeria.
According to Chaka, its trading platform reduces the barriers in purchasing stocks globally, as the company provides access to over 90 international and local companies without the need to file paperwork by interested investor.
During the launch, which was attended by Nairametrics, Chaka’s Chief Executive Officer, Tosin Osibodu, said Chaka makes it easier for Nigerians to invest in stocks abroad and for individuals abroad to invest in Nigerian stocks.
Foreign stock options: It was stated that part of the stocks available for purchase on Chaka’s trading platform include Netflix, Amazon, Google, Alibaba, and also stocks from South Africa, Brazil, and Indonesia. Nairametrics learnt that these various options are important because the market is never down everywhere in the world.
Osibodu stated that, “There are blue-chip companies from around the world, the likes of Google, Netflix, Amazon are available. We have 90 plus companies from China. Whether it’s Alibaba, Tabao.
“So really (Chaka) its giving a lot of access to opportunities to people in Nigeria to the market (local and international) of 40 plus countries. That’s the likes of Brazil, India, Indonesia, South Africa, of course, Nigeria is the home of this offer.”
Osibodu clarified that despite Chaka providing investment options in both international and African stock market, it is a Nigerian company.
He said for long, foreigners were the ones who had access to African and Nigerian stock markets, whereas, gaining access to foreign stock markets required a cumbersome process. Chaka has, however, simplified the process with its online platform.
Chaka under regulatory rules: Chaka operates under regulatory rules because its capital market partner in Nigeria, Citi Investment Capital and its global broker partners are regulated.
“It is regulated. This is very important. It’s important that people’s money are safe. That the capital market work for the good of the people they represent, that investment are protected.
“That you dealing with reputable parties and Investing in reputable companies that abide by regulation. So everything about our offer is regulated. In Nigeria, we are regulated through our partners because we have partnership with Citi Investment Capital as well as their global broker partners.
“In Nigeria, the offer is regulated by the Securities and Exchange Commission (SEC) and the market oversees, the Nigerian Stock Exchange (NSE).
“For the global investment, the offer is regulated by the US SEC, FINTRA. We are integrated with US protocol, dual digital verification process, that makes you tax-exempt as an international investor.
“That means when you make money by investing abroad, you do not consume US Government services, so you shouldn’t pay taxes. We’ve already dealt with that through our verification process, so you do not need to file tray paperwork. Our offer is also regulated by SIPC,” Osibodu said.
Challenge for Chaka
Chaka is not the only investment platform offering stocks of multinationals and other investment opportunities to Nigerians irrespective of their social standings. Chaka’s entered into the market where the likes of Wealth.ng, I-invest, Afrinvest and MeriTrade are already known.
However, what this means is that, as the market continues to expand, Nigerians now have more investment options and the increasing competition will create better investment service for prospective investors.
Africa Prudential proposes dividend of N1 billion for shareholders
Africa Prudential Plc has proposed a sum of N1 billion as dividend for shareholders.
The Board of Directors of Africa Prudential Plc has proposed a sum of N1 billion as dividend to shareholders for the period ended 31st of December 2020.
This is according to a disclosure signed by the firm’s secretary, Joseph Jibunoh and sent to the Nigerian Stock Exchange, as seen by Nairametrics.
According to the notification, the proposed dividend will be paid electronically to qualified shareholders on the 26th of March, 2021, subject to appropriate withholding tax and approval from the company’s Annual General Meeting (AGM) scheduled a day earlier.
The breakdown of the proposed dividend shows that a sum of 50 kobo will be paid for each outstanding 2,000,000,000 ordinary shares of the company, held by its shareholders, totalling N1 billion. The proposed dividend is 28.6% lower than the 2019 figures of N1.4 billion.
The comparative decline in the company’s proposed dividend for the year might be attributed to a recent dip in profit and other key metrics recorded by the firm in its latest audited financial statement for 2020. For example, the firm posted a profit of N1.45 billion for the year, indicating a decline of 13.98% YoY. In addition, its earnings per share declined by 14.29% to print at 72 kobo.
What you should know
- Africa Prudential had recently announced the appointment of Mrs Zubaida Rasheed as Director.
- Africa Prudential Plc, formerly known as UBA Registrars Ltd, was incorporated as a private limited liability company on 23rd March 2006. It was listed in the NSE on 17th of January, 2013.
Dangote Sugar proposes N18.2 billion as final dividend for 2020
Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.
The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.
This announcement was contained in the audited financial statement of the leading integrated sugar company.
In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.
The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.
What you should know
- Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
- According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
- At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
- At this price, the dividend yield of Dangote Sugar shares is 8.40%.
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