In line with its commitment to further enhance the capacity of capital market players across available asset classes, The Nigerian Stock Exchange (NSE or The Exchange) hosted a two-day webinar on fixed income this week. The webinar – which was held in partnership with the Debt Management Office (DMO) and CSL Stockbrokers – focused on the dealing member firms on Wednesday, 7 October 2020, and members of the investing public on Thursday, 8 October 2020.
Speaking at webinar, the Chief Executive Officer (CEO), NSE, Mr. Oscar N. Onyema, stated, “The Exchange continues to be the foremost platform creating new types of debt instruments in Nigeria with a market capitalization of about N16.4Tn. By offering capital raising opportunities and secondary trading to all classes of issuers including Sovereign, Subnational, Corporates and Supra-national bonds, The Exchange facilitates the interaction between borrowers and lenders in Nigeria driving efficient allocation of capital. With fixed income markets representing one of the largest subset of global financial markets, NSE reiterates its commitment committed to providing a hybrid market for dealers as well as institutional and retail investors to continue to access increased liquidity in fixed income securities.”
On her part, the Director-General, DMO, Ms. Patience Oniha expressed her delight to partner with NSE on the webinar and went on to say, “While we have always had the money market & the capital market, the fixed income market has also grown to become active today with capital raising from government, corporates & multilaterals. This shows that our market is capable of attracting both domestic & international players for the overall good of the economy. In meeting our objectives at the to finance the budget & deepen capital market activity, we remain committed to using the fixed income platform to support various aspects of the economy. We will also remain responsive to investors’ needs for portfolio diversification by expanding our fixed income market with more sophisticated debt instruments.”
The webinar also featured a presentation from Equity Analyst, CSL Stockbrokers, Olakayode Olayemi who took participants through the fundamentals of fixed income trading, highlighting both the primary and secondary market activities, as well as the investment opportunities and benefits available for investors in the NSE debt market. The session was quite engaging with participants engaging actively with The Exchange, DMO and CSL on practical ways to properly navigate the fixed income market.
The Exchange continues to deliver on its mandate to not only provide the Nigerian economy with a reliable, multi-asset hub, but to facilitate financial literacy programs that help investors gain an in-depth understanding of opportunities in various asset classes. Through frequent communications across its touchpoints and engagements such as this webinar, The Exchange is working assiduously to ensure that investors understand the characteristics of various securities and how they are issued or traded to maximize their benefits.
Tingo lauds shareholders, says organisation aiming to capture global market
Tingo offers mobile, health, financial and agricultural solutions through four subsidiaries.
A leading technology firm, Tingo International has attributed its growth to support it received from shareholders, adding that the group is at the verge of global history.
Tingo, a technology company operating in the US, UK and Nigeria, offers mobile, health, financial and agricultural solutions through four subsidiaries.
Founded 19 years ago, Tingo is primarily aiming at addressing poverty in Africa and providing solutions tailored towards global goals, especially the Sustainable Development Goals (SGDs) one, which considers an end to poverty, goal two on zero hunger, goal three, which focuses on good health and wellbeing as well as goal nine, which is on industry, innovation and infrastructure.
Group Chief Executive of Tingo International Holdings Inc, Dozy Mmobuosi in a letter to the shareholders, which was made available to journalists said the company is currently serving over 9 million farmers across Nigeria, adding that the group aims at democratising access to technology.
“Our history has been chequered like those of many successful organisations and individuals. Without you, we would not have come thus far. Your belief and trust in the leadership of Tingo have been the rudder helping us to navigate the labyrinths of the business world. I thank you from the bottom of my heart,” Mmobousi told shareholders in the letter.
A digital platform for agribusiness, Nwassa, built by the company targets farmers of any size to access global agricultural markets for their crops.
The group also assists farmers and cooperatives with packaging, warehousing, and cargo logistics as well as agritech, fintech and extension services such as digital wallets, that enable businesses to send and receive domestic payments, monitor cash flow in real-time and securely hold money.
With Tingo Remit and Tingo Insurance, the group provides cover for individuals and businesses, addresses financial inclusion and assists Africans in the diaspora to send money back to their countries.
The Group Chief Executive noted that the remittance platform seeks to offer low-cost, high-speed, reliable and secure online international money transfer services at a cost-effective and convenient alternative to traditional money transfer companies and high street agents.
Mmobousi disclosed that Tingo Health has already partnered with thousands of private medical centres to offer an affordable private health care cover in many developing countries, in collaboration with health insurance companies.
He told his shareholders that the firm was on the threshold of more success and history, adding that the business recorded much success despite the ravaging effects of Covid-19 pandemic.
“Without your inputs particularly at the onset of COVID 19, when even the most resilient businesses and organisations were greatly shaken, your belief in our leadership became more profound.
“Tingo is coming to the end of a journey and set out to begin yet the ultimate journey that shall place it among big players in the global economy. I just want to thank you all for a job well done as we look forward to a great and rewarding future,” Mmobousi said in the hearth warming letter.
Rotimi Bankole awarded Marketing Media Personality of the Decade
The founder and Chief Executive of SBI Media has been named the Marketing Media Personality of the Decade.
Rotimi Bankole, the founder and Chief Executive of SBI Media has been named the Marketing Media Personality of the Decade by Marketing Edge magazine.
Bankole who expressed great surprise on his nomination for the award said it was understandable the organisers, Marketing Edge would recognise his good work at SBI Media.
“We have come a long way. As an organisation, we have focused consistently on being a model for other startups in the industry, and to be recognised for that is greatly satisfying,” Bankole said.
Founded in 2013, SBI Media is now a member of Masscom Global, a network of media agencies founded in developing countries. Bankole has led the company into over 150% year on year growth for the past three years, according to data released by SBI. The company has also expanded to include Streams, a full-service creative advertising agency.
SBI Media and Streams Networks provide creative, media strategy, planning and buying services to some of the most influential companies in Nigeria, including 9Mobile, Sterling Bank, Access Bank, and Turkish Airlines, First Bank, iTel, Infinix, and Tecno.
Furera Jumare resigns from Union Bank Board following appointment by Jigawa State
Mrs. Furera Isma Jumare has resigned her role on the Board of Union Bank of Nigeria Plc.
Following her appointment as Director-General of the Jigawa State Investment Promotion Agency, Mrs. Furera Isma Jumare has resigned her role as Independent Non-Executive Director on the Board of Union Bank of Nigeria Plc. This in line with regulatory guidelines precluding certain categories of public servants from serving on boards of banks and other financial institutions.
Commenting on the Mrs. Jumare’s resignation, Board Chair, Mrs. Beatrice Hamza-Bassey, said:
“Since joining the Board in May 2017, Furera has been an invaluable voice in the Boardroom. Her experience and professional counsel directly contributed to our wins in recent years and in helping us navigate challenging times. She also served studiously as the Chair of the Board Governance Committee and Member of the Board Audit and Risk Management Committees. On behalf of the Board, I thank her for her diligent service and wish her much success as she answers the call of service to her State.”
Chief Executive Officer, Mr. Emeka Emuwa, said:
“Furera’s appointment is a clear acknowledgement of her experience and accomplishments in her long career including in her role as Director with Union Bank. The Board and Management are grateful for her service and wish her the best in her new role.”
Mrs. Jumare’s resignation is effective immediately.