The Nigerian Stock Exchange (NSE) has highlighted the critical role of the capital market in delivering sustainable socio-economic growth and development in Nigeria. This was articulated at the award ceremony of the 19th NSE Essay Competition for Senior Secondary Schools in Nigeria which held on Wednesday, 4 December 2019 at the Civic Centre, Lagos.
Speaking at the event, the Chief Executive Officer of the NSE, Mr. Oscar N. Onyema, OON emphasized the need for innovative solutions to leverage the capital market for the achievement of the Sustainable Development Goals (SDGs). “We need to connect people with products and services that build human and physical capital, as well as bridge infrastructural gaps in Nigeria.
“We have also identified the critical role of millennials in achieving these outcomes evidenced by the overwhelming interest today’s youth have shown in this exercise. We were not only delighted by the thousands of entries we received this year – up over 100% from last year – but also impressed by the quality of progressive solutions articulated in the submissions, some of which will be presented today,” Mr Onyema added.
At the ceremony, Miss Adeniyi Adesewa of Grandmates Secondary School was announced as the 1st place winner of the NSE Essay Competition out of 40,966 applicants across Nigeria. She has been awarded a N500,000 scholarship fund for her university education; N500,000 worth of equity investment; and a laptop. Grandmates Secondary School has also been awarded 3 desktop computers and a printer.
Miss Temiloluwa Oladipo and Master Adeoye Okhaioisevai both of Oritamefa Baptist Model School emerged 2nd and 3rd place respectively. Each of them has been presented with a scholarship for university education, equity investment and a laptop, along with desktop computers and a printer for the school. In addition, the top 3 winners were given the prestigious honour of a Closing Gong Ceremony at the Exchange, while 7 other finalists received laptops in recognition of their good performance.
Present at the event was the First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs Funke Omotosho. She commended the NSE for the contribution of this initiative to the development of our great nation and encouraged participants in the competition to stay committed to developing their skills.
The special guest of honour, Mr Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN) counselled the students on the need to develop a strong savings and investment culture. He magnanimously awarded N250,000, N150,000 and N100,000 worth of money market investments to the 1st, 2nd and 3rd place winners respectively on behalf of the Association of Issuing Houses of Nigeria (AIHN) and Vetiva Capital.
Mrs. Modupe Adefeso-Olateju, Managing Director of the Education Partnership Centre in her keynote address advised the students on the need to develop a range of skills to ensure a sustainable future in light of our ever-evolving society. She also emphasized education, financial responsibility and integrity as important virtues to imbibe.
The NSE Essay Competition is designed to develop a culture of wealth creation amongst our youth towards “Building a Financially Savvy Generation”. Over the last 19 years, the competition has successfully increased awareness and inspired active participation of the youth in Nigeria’s capital market. This year edition was supported by Zenith Bank Plc, Access Bank Plc, Prime Atlantic Limited and Hewlett Packard Nigeria Limited.
About THE NSE
The Nigerian Stock Exchange, a company limited by guarantee, services the largest economy in Africa and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more. The Nigerian Stock Exchange continues to evolve to meet the needs of its valued customers, and to achieve the highest level of competitiveness. It is an open, professional and vibrant exchange, and the Entrepreneurial Growth hub of Africa. The Nigerian Stock Exchange aspires to be Africa’s foremost securities exchange, connecting Nigeria, with the rest of Africa and the world.
RED | For Africa is redefining work culture on the continent
“At RED | For Africa, we have always embraced an increasingly progressive work culture in response to the extant global research on the subject matter.” – RED
As more and more global attention shifts towards investing in the physical and mental welfare of people, an increasing number of companies are moving towards a human-centered approach to policymaking and accepted work culture.
At RED | For Africa, we have always embraced an increasingly progressive work culture in response to the extant global research on the subject matter. We have over the years, practiced a remote work culture, granting team members weekly work-from-home days, periodic work-from-home weeks, and more. This is why we seamlessly adopted a complete work-from-home policy long before the government-mandated lock-down in March, making us one of the first companies in West Africa to do so.
Nonetheless, it has become necessary to cushion the likely effects of working from home during the COVID-19 pandemic. Also, considering the ease with which work can spill into personal time, and how a constant presence in one space can considerably deplete creativity, we decided to completely shut-down work on 21 March, 2020, allowing team members to recharge and come back fired up, and ready to better serve our clients.
Just recently, Google and Facebook announced that they have decided to extend their work-from-home till the end of the year. Twitter also announced that its employees could work-from-home “indefinitely”. This shows an increased leveraging of technology in order to make the way work is done better and more efficient for both the employer and employee.
A research in International Journal of Science shows that employee productivity, mental well-being and overall work-performance begin to suffer when there is no adequate break from work. It concluded that breaks albeit ignored for fear of losing productivity actually increase productivity, lessen fatigue, stress and boredom, and reduce job-related strain and accidents. Overworked employees often deal with chronic stress that can result in job burnout which will not only affect employee health and well-being but the company’s bottom line.
Amongst other innovative steps we are taking at RED, we’ve also opened a food bank for team members who require support in these times and created ‘The Huddle’, a weekly mental and emotional release and engagement channel for the team as we navigate the pandemic. This is the new normal and we are more than ready to adapt and make the most of it.
Above all, we have made a commitment as a company, to continually align our operations with emerging research backed by data. So whether it’s work-from-home, shutdown, or any other practice that will improve team performance and well-being, we’re always willing to adapt.
EDITOR’S NOTE: This is a sponsored content.
Develop Homegrown Solutions, Human Capacity and Invest in Agriculture to Rebuild Africa; Experts say at UBA Africa Day Conversations
•Prioritise SMEs Development
•Advocate Partnerships between Private Sector and Government
African thought leaders and great minds have noted that the development of homegrown solutions and adequate investment in human capacity building and agricultural expansion are key steps that will help to rebuild Africa and put the continent on a stronger footing post Covid-19.
Analysing the theme ‘Domestic Policies, Regional Development and a Global Agenda: SDGs and African Development at Crossroads; the speakers collectively gave this submission during the second panel session of the 2020 edition of United Bank for Africa (UBA) African Day Conversations.
The virtual session, which was moderated by Veteran Journalist and Media Consultant, Eugenia Abu, was made up of thought leaders from across Africa, including the Regional CEO, UBA West Africa, Abiola Bawuah (Ghana); Senior Program Coordinator, Regional Network of Agricultural Policy Research Institutes, Dr Nalishebo Meebelo (Zambia); Leadership Coach and Chairman, Go Ahead Africa Ltd, Roland Kwemain (Cameroon); Founder and Executive Director, Social Change Factory, Sobel Aziz Ngom (Senegal); Special Assistant to the President Muhammadu Buhari on Digital and New Media, Tolu Ogunlesi (Nigeria); and Social Entrepreneur and Founder, LEAP Africa, Ndidi Nwuneli (Nigeria).
Abiola Bauwah who emphasised how Africa should rely less on foreign donors, said, “There are five areas we should work on more for us to reach the SDG goals; the private sector; rapid industrialization; institutions and the rule of law; develop our human capital; remove the barriers across Africa. We should institute Africapitalism which is an economic philosophy that says that the human and capital resources of Africa are the only ways in which we can develop Africa.”
Nalishebo Meebelo noted that there’s a lot that young people can do along the value chain of manufacturing, transporting, technology and marketing, adding that, “Government cannot do it alone, they need to work with other stakeholders. Cut and paste solutions do not work for us here in Africa, we need to have our own homegrown solutions to fight this pandemic.”
Eugenia Abu, who focused on the huge role that women and youth must play in rebuilding the continent, said that Africa had to work together to provide solutions to its numerous challenges. “Women, entrepreneurial champions, young people and collaborations between African countries are very key to developing Africa,” she stated.
Ndidi Nwuneli who was saddened that the agricultural sector remained hugely untapped, emphasised the need for a change of mindset where people usually equated agriculture to poverty. “This is a $1 trillion industry and we are neglecting it; therefore my charge to you is that we invest in the agricultural sector, prioritize it, leverage it, transform our educational system to prepare our young people for this sector, change the mindset and trade with each other,” she explained.
Sobel Aziz Ngom pointed out the need for the youth to take charge in Africa. “It is time to not just serve young people, but to trust them to lead. The challenge that we have at the domestic and continental level is making the change in our structure and in the political system that give the place to young people to be 100% engaged,” Ngom stated.
In his own submission, Tolu Ogunlesi, said, “All over the countries young people are seizing opportunities, and we need to start thinking about how to make sure that this is not just for the age of COVID but for now and beyond COVID-19. Even if the pandemic was to disappear today, I hope that the lessons we’re learning, we’re not going to forget them and go back to where we used to be.”
For Roland Kwemain, more institutions need to tow the line of UBA in events such as UBA Africa Conversations. “If 100 multinationals in Africa were doing that UBA is doing, we would go far because CSR is an amazing leverage not just for the brand but also for supporting people & women in terms of activities. The truth is that we need partnership between the government, corporates and the civil society,” he said.
The United Bank for Africa is a leading pan-African financial institution offering banking services to more than twenty million customers globally. With footprint in 20 African countries and presence globally in the United Kingdom, the USA and France, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services.
Get access to Eurobonds on Wealth.ng
Like every other investment, buying Eurobonds should be a well thought out process and not just another plight to add to your investments or be tagged a Eurobond investor.
Now you have access to buy USD denominated Bonds from FGN and other Corporate entities like Fidelity, UBA, Ecobank etc directly from Wealth.ng.
What is a Eurobond?
A Eurobond is a fixed-income debt instrument (security) denominated in a different currency than the local one of the country where the bond is issued. Hence, it is a unique type of bond.
Eurobonds are not necessarily denominated in Euros as the name implies. For example, bonds denominated in US Dollars are better known as Eurodollar bonds, while those denominated in Japanese Yen are called Euroyen bonds.
Benefit to Investors
• Affordable: The main benefit to local investors in purchasing a Eurobond is that it is relatively cheap to obtain.
• Liquidity: Importantly, Eurobonds are highly liquid and can be converted into cash within one fiscal year. Since the bonds are fixed-income securities; Eurobonds usually offer a fixed interest rate to investors such as yourselves and we have made this readily available to you on Wealth.ng.
• Foreign Exposure: There is also exposure to foreign investments staying in the home country.
• Diversification: It also gives a sense of diversification spreading out the risks.
So If you’re looking for new ways to invest in the ever-changing economic environment, the FGN and Corporate Eurobonds (USD) are your ideal choice to increase your chances of positive returns and earning a profit on your investment.
How to invest in Eurobonds on Wealth.ng
The process of investing in Eurobonds in Nigeria does not differ from that of ordinary bonds. Simply select your preferred Eurobond product, and make payment directly on Wealth.ng. Please note that you can get started with a minimum of $500 and a 1% penalty fee applies for early liquidation.
Before you Buy
Like every other investment, buying Eurobonds should be a well thought out process and not just another plight to add to your investments or be tagged a Eurobond investor. It is advisable to review and understand the risk profile of any Eurobond that you are interested in buying.
Get started with Investing in Eurobonds on Wealth.ng— www.wealth.ng