The Nigerian Stock Exchange (NSE or The Exchange) recorded an 11% increase on the average daily turnover on Wednesday, 17 June 2020 when compared to the same period in 2019 recording N3.93 Billion and N3.52 Billion respectively. Significant growth has also been recorded in the Premium Board category with a 28.6% increase in volume traded up from 50.04 million in 2019 to 64.39 million in 2020.
The Nigerian Stock Exchange (NSE) opened strong in 2020, becoming the best performing equities in the world by mid-January with gains of 10.4% year-to-date (YTD) and recording one of its best January returns at 7.5%. However, the momentum slowed as the COVID-19 pandemic spread across the world between February and March, leading to unprecedented panic in global financial markets due to economic uncertainty.
Despite the volatility in the market, NSE has displayed remarkable resilience amidst the pandemic, with increased investors’ confidence as reflected in the performance of the various asset classes NSE provides. On the equities side, the All Share Index is outperforming comparable African Exchanges and stands at -7.16% YTD as at 18 June 2020, while capitalization in the fixed income market has risen by 13.5% to N14.66Tn from N12.92Tn as at the end of 2019 as a result of increased listing activity from the Federal Government and Nigerian corporates.
Some notable listings in the private sector include the Dangote N100 billion bond; FBNQuest Merchant N5 billion bond; the Primero BRT Securitisation SPV Plc’s N16.5 billion bond; the Flour Mills of Nigeria’s N7.5 billion and N12.5 billion bonds; Golden Guinea Breweries Plc’s Private Placement amounting to N1.2 billion. On the government side, the FGN Savings Bonds valued at N206.307 million, 5.131 per cent and N78.672 million of 4.131 per cent on April 3, 2020, were listed, as well as the Federal Government Bonds of N55 billion, N65 billion and N40 billion.
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NSE continues to reap the benefits of its investments in business innovation and digitization made over the years. Since the activation of its Business Continuity Plan on 23 March 2020, NSE has sustained remote working and trading with no downtimes. Dealing Member Firms have been equipped to trade leveraging FIX Protocol and Virtual Private Networks provided by The Exchange.
NSE simplifies investing in the capital market with comic book
StockTown is dedicated to providing financial literacy education to Nigerians.
The proliferation of dubious investment schemes that often result in loss of money by unsuspecting members of the public continues to make the role of financial literacy imperative. To play its part, Nigeria’s leading bourse, The Nigerian Stock Exchange (NSE or The Exchange) has issued the second edition of its comic, StockTown, dedicated to providing financial literacy education to Nigerians.
The comic, available in digital format on a dedicated website at www.nse-stocktown.com builds on The Exchange’s advocacy for safe and trusted investment schemes.
The story picks up from the first edition, following the life of Mora Johnson as she seeks to liberate her family from their financial struggles by investing in the capital market. This second edition highlights some major lessons for potential and existing investors including the need for vigilance in avoiding Ponzi schemes and unregulated investments, whilst advising prospective investors to seek proper guidance before making investment decisions. Readers can look forward to a simplified explanation of the history of the capital market, its evolution over the years, and how anyone can start making investments today in the Frequently Asked Questions (FAQs) section of StockTown.
Commenting on the importance of this comic book, Head, Corporate Communications, NSE, Olumide Orojimi said, “Investor Education is a priority for us at The Exchange. We have identified the need to empower individuals across all levels to make good financial decisions and better their lives now and in the future. As the investment landscape continues to evolve to accommodate more retail participants, we are excited to leverage new and existing platforms to present investment products and processes in ways that are both appealing and easy to understand, particularly in this new normal. We hope that StockTown becomes a widely-read resource for potential and existing investors, the financially excluded, millennials and the larger public.”
StockTown is just one of the many ways NSE demonstrates its strong commitment to promoting financial literacy in Nigeria. Even amidst the Coronavirus pandemic and the temporary closure of The Exchange’s facilities, NSE continues to host virtual financial literacy workshops with students and young upwardly mobile professionals. Furthermore, The Exchange has hosted several webinars on various products including Exchange Traded Funds (ETFs), Green Bonds, and Securities Lending to provide more information to the market on available securities and how to trade them.
It should also be recalled that NSE is a member of the Financial Literacy Technical Committee of the Securities and Exchange Commission (SEC); as well as the National Finance Inclusion Steering Committee led by the Central Bank of Nigeria with a mandate to reduce the level of financial exclusion in Nigeria to 20%.
Yomi Badejo-Okusanya, Ayeni Adekunle, Tomiwa Aladekomo, Tosin Faniro-Dada, others to speak at the Phyllion Tech Conference
The event will provide opportunities for stakeholders in technology to showcase future-driven solutions.
Phyllion unveils its line-up of reputable speakers and tech leaders who will drive the conversation about the theme; Technology Transformation in Africa, What’s Next? The event is phased into three sessions; the general session, led by the Keynote speaker and female tech influencer as moderator; the Panel discussion, and will end with the start-up pitch session.
Leading this team of tech and communications thought leaders with the Keynote Address are Yomi Badejo-Okusanya (YBO) and Adrian Clews. YBO is a renowned Public Relations Veteran, Group Managing Director of CMC Connect (Perception Managers) and President, African Public Relations Association (APRA), with over 30 years of experience in the Marketing Communications industry, while Adrian Clews is Managing Director at Hinckley Associates Nigeria, leveraging on innovative solutions to help reduce business costs & improve security.
Other reputable speakers are Tosin Faniro-Dada, who leads the Lagos Innovates Team at the Lagos State Employment Trust Fund (LSETF). She is responsible for developing and implementing programmes that provide an enabling environment for tech start-ups to thrive, and cultivating strategic partnerships to increase its reach in Lagos State.
Tomiwa Aladekomo, the Chief Executive Officer of Big Cabal Media, publisher of TechCabal and Zikoko, tech and youth publications. He is involved in building the next generation of African media brands and creating some of the most interesting original content from the continent.
Award-winning Media & Public Relations Consultant, Ayeni Adekunle, who is the Founder of the Black House Media Group (BHM), home to highly revered Public Relations Consultancy Company- BlackHouse Media, digital marketing and media company – ID Africa, and technology start-up – Plaqad.
In addition are Emmanuel Asika, Covid-19 survivor and Channel Manager for Hewlett Packard (HP), Central Africa ; Funmilola Eniolorunda, the Chief Operations Officer at fast-growing software company, Venture Garden Group ; and Segun Iffie the Global Service Delivery Manager (Nigeria) at HPE .
Noteworthy on the panel is Temi Ophylia Ibekwe, Founder, Phyllion & Partners, who is a Strategic Communications Professional with nine years hands-on experience in Public Relations and Marketing, working with consumer brands, government institutions as well as small and medium enterprises (SMEs).
Also the start-up pitch panel is packed with tech leaders such as, Managing Director, HP Central Africa, Ify Afe, CEO Edgebase Technologies, Joel Egbai, US-based Digital Business Transformation Strategist, Ogechi Chidebell and Mo Durosinmi-Etti, Program Manager at the Bulb Africa.
To host the event and moderate the sessions is a well-known female tech influencer, Tobi Ayeni, (Miss Techy).
Speaking on the conference, member of the panelist, Black House Media Group Founder, Ayeni Adekunle said, “I’ve always spoken about the importance of Nigerian companies embracing technology to transform not only their operations but the Nigerian landscape and I’m glad platforms like the Phyllion Tech PR Conference are championing the cause ensuring we set a lot of these theories in motion.”
The event will not only help determine the direction of businesses post-COVID, it would make prominent the impact of communication on tech businesses, and also reward tech-preneurs who have discovered innovative ways of solving problems in their milieu and society at large.
It is first of its kind within the sector and it provides opportunities for various stakeholders in technology to showcase future-driven solutions that will drive technology growth in the African continent.
The event is scheduled for Friday, July 17, 2020 between 12:00pm and 2:30pm. The Phyllion Tech Conference presents a platform for communication to enable technology transformation in Africa through impact-driven conversations and actions.
From real estate to lifestyle: Purple extends brand to more sectors
Maryland Mall in Lagos will now be known as Purple Maryland.
In line with strategic repositioning of the company, the management of Purple Group has announced the rebranding of Purple Capital Partners Limited and change of name to Purple.
With this change, its flagship multi-use centre, Maryland Mall in Lagos will now be known as Purple Maryland while the ongoing development in Lekki will be known as Purple Lekki.
Announcing the changes in Lagos, the Chief Executive Officer, Mr. Olayide Agboola, noted the rebranding and repositioning takes effect from July 1, and would be implemented across all the company’s physical and digital touchpoints.
The decision, he said, was in line with the group’s core belief in continuous innovation and customer satisfaction.
‘’We are refocusing our brand, and extending our reach beyond just real estate development. We see the need to curate affordable lifestyle experiences by leveraging our expertise in real estate development.
“With MarylandMall, now Purple Maryland and our ongoing development with PurpleLekki, we are integrating retail, arts, entertainment, media and advertisement, family fun, food and drinks, e-commerce and financial services all in one through superior mixed-use centres and services. Our new focus is clear; working with our range and network of partners, we are creating affordable lifestyle experiences for our consumers across all income levels,” the CEO explained.
Agboola further pointed out that all the group’s facilities and ongoing development were also rebranded and would be addressed with the Purple prefix (PurpleMaryland, PurpleLekki) while its new services would also bear a touch of the Purple Identity as well. He however added that to keep in touch with the group’s brand heritage; they had kept the same colors and logo symbol.
Speaking on what the new identity connotes, Agboola stated that the new Purple identity signified growing strength, resilience and elegance, which he noted accurately represents the significant growth and successes it has recorded over the past few years.
He said: “Ours is a story of sheer resilience, best practices and excellent service delivery to our partners and clients across the group. With this brand repositioning, we are re-committing to our core beliefs and ensuring unwavering commitment to our values, to our investors and to our esteemed partners. Our refreshed brand clearly communicates these values. We are also excited to unveil the brand identities for our new services and ongoing development projects”.
According to him, with the new development, PurpleLekki, PurpleNano, Purple.shop and PurplePlay, have all been designed to give customers more value for money. For instance, he explained that PurpleLekki; the all-new lifestyle centre in Lekki, Lagos, currently under development, will occupy a land size of about 10,000 sqm and a few floors which will be mixed use – retail, entertainment, serviced accommodation, and private offices.
For PurpleNano, Agboola stated that the premium and standard studio apartments was conceived with the modern professional in mind and available in 2 bedrooms, 3 bedrooms and 1 bedroom variants. “These ‘nanos’ are furnished to fit the peculiarities and taste of the Lekki Market and provide a peaceful, cozy space for occupants and visitors,” he stated.
Speaking of the future, the company also has plans to venture into the e-commerce space with brand ‘purple.shop’. Purlple.shop will work with the base of retail, fashion, food and entertainment partners and service providers in Purple centres. With this, they can reach even more customers through online channels. The e-commerce platform will also provide marketing tools and real-time analytics to optimize growth.
While pointing out that the group’s identity may have been refreshed, he was quick to add that the company’s focus remained unwavered. “We are creating affordable lifestyle experiences for our consumers through our principal investments in these superior mixed-use centres and services. We also remain thankful and committed to our partners and we will continue to utilize our expertise and experience to deliver alpha returns and provide best service to our customers across the group,” he concluded.
Formerly known as Purple Capital Partners, Purple Group is an ecosystem of companies focused on creating best-in-class lifestyle experiences for our consumers through our principal investments in superior mixed-use facilities and services.
Our lifestyle services spans through real estate, retail, e-commerce, media and advertising, entertainment and family fun, financial services amongst others; all focused on driving our mission to create lifestyle experiences for our consumers with convenience, affordability and finesse. Our lifestyle portfolio of developments include purplemaryland, purplelekki, purplenano.