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Onyema, Oniha highlight opportunities for investors in fixed income market

Participants engaged The Exchange, DMO and CSL on practical ways to properly navigate the fixed income market.

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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.

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Corporate Press Releases

Global Credit Rating reaffirms Sovereign Trust Insurance Plc ‘A-‘rating

Global Credit Rating Limited has reaffirmed an A-rating for Sovereign Trust Insurance Plc.

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Sovereign Trust Insurance blames IT failure for delaying its 2019 financial statement

Global Credit Rating Limited, an international rating agency, has reaffirmed an A-rating for Sovereign Trust Insurance Plc.

According to a press release signed by the firm’s Deputy General Manager, Olusegun Bankole, and seen by Nairametrics, the insurance firm has consistently maintained its rating for over a decade now.

The key drivers that helped in the reaffirmation of the A-rating by the firm are;

  • Consistency in paying her claims obligations over the years, as captured in an earlier solvency and operational report for financial institutions in Nigeria and other allied businesses, released by the rating agency in December 2020.
  • Listing of rights issue in 2019 which helped to increase the shareholders’ funds of the company to N8.2 billion as at Q3 2020, up by 31% Year-on-Year. This played a catalyst role in maintaining the A-rating status of the firm.
  • The capital adequacy of the firm was also pivotal.

According to the information available on the website of the rating agency, the A-rating reflects high claims-paying ability, strong protection factors, modest risk which may vary over time due to economic and/or underwriting conditions.

This fact was buttressed by a section in the press release which reads:

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  • Sovereign Trust Insurance Plc has great potentials for growth in the years ahead, considering some of the strategies that have been put in place to propel its operations. Global Credit Rating noted that the company has shown a great deal of consistency in her claims obligations to her numerous customers spread all over the country.”

About Global Credit Rating Limited

  • Global Credit Rating Co (Pty) Ltd (GCR) operates as a credit rating services provider. The Company ratings for banks, financial institutions, insurance, corporate and public sector debt, and structured finance serves customers worldwide.

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Corporate Press Releases

Range Developments: Citizenship-by-Investment in Grenada

Range Developments is the largest and most successful hospitality developer in the Eastern Caribbean engaged in the Citizenship by Investment sphere. 

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Citizenship by Investment is the process of obtaining a second citizenship and passport by investing in the economy of the host country. Located in the West Indies in the Caribbean Sea is Grenada – a country which offers Citizenship by Investment to willing investors. This program was restructured and relaunched by Grenada in 2013 and it offers a low cost entry for a second passport for willing Investors. Grenada as a country is enriched with exquisite cuisine, excellent healthcare and education systems. In addition, it is one of the safest nations in the Caribbean and its citizenship by investment programs is one of the most sought-after citizenship programs in the world due to many advantages Grenadian citizenship entails

Range Developments is the largest and most successful hospitality developer in the Eastern Caribbean engaged in the Citizenship by Investment sphere.  With years of expertise under its belt, Range Developments offers the most desirable process for acquisition of Citizenship by Investment in Grenada. All you need as an Investor and prospective Grenadian citizen is $220,000 (two hundred and twenty thousand US Dollars) in addition to applicable fees. Through this process, an Investor gets their Grenadian passport in 90-120 days without the need to reside in or even visit Grenada. Further, no interview, education or management experience is required for an Investor.

www.tbfoto.com.br PARK HYATT ST KITTS – ST KITTS & NEVIS – APRIL/2018 Photo: Tadeu Brunelli

By participating in the Citizenship-by-Investment project in Grenada, Investors will enjoy global benefits and a secure investment in one of the world’s most renowned hospitality brands. Some other perks of obtaining Grenadian citizenship through Citizenship-by-Investment with Range Developments include:

  • Visa-free travel and visa-on-arrival to over 140 countries worldwide including Schengen member States, the United States of America (USA), the United Kingdom, China, Russia and many more;
  • Access to the USA Investor E-2 Visa (which allows citizens of Grenada to operate a substantial business and also reside in the USA);
  • Eligibility of family members (siblings, children and parents) for Grenadian citizenship;
  • Right to hold dual citizenship;
  • Citizenship for life in Grenada with the right to live and work in the country;
  • Enjoying political and social security;
  • Tax benefits and incentives (such as no foreign income, wealth, gift, inheritance or capital gains tax, etc).

For more information, Range Developments may be contacted at +97143253447. You may also reach out on Whatsapp at +971527324097 or via email at [email protected]

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Appointments

Pfizer appoints Patrick van der Loo as Regional President for Africa and the Middle East

Patrick’s Pfizer experience spans more than 20 years in leadership roles with multiple successes across geographies.

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Pfizer (www.Pfizer.com) announced today the appointment of Patrick van der Loo as Regional President for Africa and the Middle East (AfME) region. Patrick’s Pfizer experience spans more than 20 years in leadership roles with multiple successes across geographies. In his new role as Regional President for AfME, Patrick will lead commercial operations to bring scientific breakthroughs in vaccines, oncology, rare diseases, internal medicine, hospitals, and inflammation & immunology, to serve patients.

READ: Pfizer/BioNTech Covid-19 vaccine appears effective against key mutation – Study reveals

Commenting on his appointment, Patrick said: “This year has made me even more grateful and proud to be part of Pfizer. The global pandemic has accentuated our purpose as a company and reinforced our commitment to patients and communities worldwide. AfME is home to some of the world’s fastest-growing markets with increasing demand for innovative health treatments and services. Overall, the region has shown remarkable resilience due to strong leadership and sound policies.”

READ: OPEC cites vaccine as most important factor for oil in 2021 as Nigeria pushes for cuts

He added: “Pfizer has been operating for over 60 years in AfME. I look forward to continuing this journey and bringing our breakthroughs to address unmet patient needs. My top priority will remain to work with our teams to ensure greater access to our medicines across our strategic therapeutic areas. We will seek even stronger collaboration with healthcare professionals, communities, and governments to change the lives of millions of people and protect them from tomorrow’s health threats.”

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READ: Nigeria contributes about 75% of West Africa’s regional GDP – AfDB

Patrick has been passionate about the pharmaceutical and healthcare industry from the start of his career. He has managed some of Pfizer’s largest therapeutic areas in cardiovascular and neuroscience globally and led the commercial development efforts of a 500+ molecule business.

READ: 40 years old British airline grounded due to drop in travels

In his previous role, Patrick served as the Developed Asia Cluster Lead and General Manager for Pfizer’s Hospital Business Unit, responsible for leading and executing Pfizer’s commercial and cultural strategy in Japan, Korea, Australia, and New Zealand. Before this role, Patrick worked as the Emerging Asia Cluster Lead for the Pfizer Essential Health business.

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