The Pink Sheet is a monthly report that monitors commodity price movements.
5 Ways To Make Money From The Comfort Of Your Home
Not everyone would like to have a white-collar job and even if you have one, it is always good to be open to side hustles or businesses that you can do from home.
So here are 5 ways to make money from the comfort of your home:
1. Renting out your Car and Bus for business
Many are stuck with the headache of maintaining a car as we all know maintaining a car can quite costly. Renting out your car or bus or even giving it out to some to do Uber or public transport business can be lucrative. You can always rent out your car or bus to those who need it for occasions and events.
You can also decide to get someone to drive your car as a cab or your Bus as a public transport vehicle. You get to receive weekly money all from the comfort of your home.
2. Give your Knowledge out in exchange for money.
Monetization of knowledge can be a very good business.
If you excel in a particular area or business you can decide to give out that knowledge in exchange for money. You can create E-books, online courses, and tutorials on a specific topic will help your Target market learn something that can be applied to their life or business.
3. Affiliate Marketing
Affiliate marketing revenue source comes from referral programs generated by companies in order to attract customers and it was created to help generate word of mouth but has now become a more reliable source of income for people who are good at it.
In order to really excel in being an affiliate marketer, you need to have a popular blog or social media account, or an established network of popular websites.
This requires a lot of work and some sort of thought leadership. Why thought leadership? A good thought leader is able to have an influence on the kinds of things their followers consume because they have been able to establish some form of trust.
Being a thought leader not just allows you to do affiliate marketing successful but also allows you to create your own courses, tutorial, training and books around affiliate marketing.
So once you a website or strong network of followers, you can post affiliate links to online stores, services, and app stores. Your readers will follow your links, make a purchase, and you will earn a commission on each purchase your readers make.
4. Freelancing
You can freelance for an organization who outsources some of their works or thinking to individuals who are capable. You can work on getting the required skills for the kind of freelancer you would want to become. A lot of companies hire freelance writers, social media managers, graphic designers and even customer service representative. There are a lot of freelancing jobs out there.
5. Selling Cyrtocurruency
A lot of people are now investing in cryptocurrencies such as Bitcoin and Etherum. This seems to be a good time for those engaged in selling cryptocurrency. You can start your cryptocurrency business with just your mobile phone while enjoying being in the comfort of your home.
So those are 5 ways you can make money from home but don’t be quick to forget to first work for the business so that it can also do the same for you.
Economic Activity In Sub-Saharan Africa Is On Course To Rise By 2.7% In 2021
The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policymakers move decisively to tame the pandemic and implement investment-enhancing reforms, the World Bank says in its January 2021 Global Economic Prospects.
Recent developments:
Output in the Sub-Saharan Africa region contracted by an estimated 3.7% in 2020, as the COVID-19 pandemic and associated lockdowns disrupted economic activity. As a result, per capita income shrank by 6.1% in 2020, setting average living standards back by at least a decade in a quarter of Sub-Saharan African economies.
Hardest hit were countries with large domestic outbreaks, those heavily dependent on travel and tourism, and commodity exporters, particularly oil exporters. COVID-19 outbreaks persisted in the second half of last year in several countries, with little sign of abating.
In Nigeria and South Africa, output fell sharply last year. Nigeria’s economy is estimated to have contracted 4.1% in 2020, as the effects of the pandemic impacted economic activity in all sectors.
In South Africa, where economic activity was on weak footing before COVID-19, the output is estimated to have fallen 7.8% last year. The country suffered the most severe outbreak of the pandemic in the region and underwent strict lockdowns that brought the economy to a standstill.
Oil exporters in the region grappled with sharply lower prices (Angola, Equatorial Guinea, Republic of Congo, South Sudan), while those with large travel and tourism sectors endured near-complete shutdowns of visitor activity (Cabo Verde, Ethiopia, Mauritius, Seychelles). Contractions in agricultural commodity exporters were less steep (Benin, Côte d’Ivoire, Malawi, Uganda).
Outlook:
Growth in the region is forecast to rebound moderately to 2.7% in 2021. While the recovery in private consumption and investment is forecast to be slower than previously envisioned, export growth is expected to accelerate gradually, in line with the rebound in activity among major trading partners.
The resumption inactivity in major advanced and emerging economies and key trading partners of the region (Europe, China, US) is chiefly underpinned by positive news on vaccine development and rollout as well as new rounds of fiscal stimulus. Expectations of a sluggish recovery in Sub-Saharan Africa reflect persistent COVID-19 outbreaks in several economies that have inhibited the resumption of economic activity.
The pandemic is projected to cause per capita incomes to decline by 0.2% this year, setting Sustainable Development Goals (SDGs) further out of reach in many countries in the region. This reversal is expected to push tens of millions more people into extreme poverty over last year and this year.
Growth in Nigeria is expected to resume at 1.1% in 2021. Activity is nevertheless anticipated to be dampened by low oil prices, OPEC quotas, falling public investment due to weak government revenues, constrained private investment due to firm failures, and subdued foreign investor confidence.
In South Africa, growth is expected to rebound to 3.3% in 2021. An expectation of weak growth momentum reflects the lingering effects of the pandemic and the likelihood that some mitigation measures will need to remain in place.
The rebound is expected to be slightly stronger—although below historical averages—among agricultural commodity exporters. Higher international prices for agricultural commodities are expected to buoy activity.
The recovery is forecast to be more anaemic among industrial commodity exporters. Although metal prices recovered somewhat in the second half of last year, oil prices remain well below 2019 levels, weighing on oil exporters (Angola, Chad, Equatorial Guinea, Gabon, Ghana, Republic of Congo).
Risks: Risks are tilted to the downside. Growth in major trading partners could fall short of expectations. Widescale distribution of a COVID-19 vaccine in the region will likely face many hurdles, including poor transport infrastructure and weak health systems capacity.
Such constraints, compounded by natural disasters such as recent devastating floods and rising insecurity, particularly in the Sahel, could delay recovery. Government debt in the region has increased sharply to an estimated 70% of GDP last year, elevating concerns about debt sustainability in some economies.
Banks may face sharp increases in non-performing loans as companies struggle to service their debt due to falling revenues. Lasting damage of the pandemic could depress growth over the long term through the chilling effects of high debt on investment, the impact of lockdowns on schooling and human capital development, and weaker health outcomes.
The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. It is supporting public health interventions, working to ensure the flow of critical supplies and equipment, and helping the private sector continue to operate and sustain jobs.
The World Bank Group is making available up to $160 billion over a 15-month period ending June 2021 to help more than 100 countries protect the poor and vulnerable, support businesses, and bolster economic recovery. This includes $50 billion of new IDA resources through grants and highly concessional loans and $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines.
Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery
Development risks remain as economic activity, incomes likely to stay low for an extended period
Jan. 5, 2021 — The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policymakers move decisively to tame the pandemic and implement investment-enhancing reforms, the World Bank says in its January 2021 Global Economic Prospects.
Although the global economy is growing again after a 4.3% contraction in 2020, the pandemic has caused a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period. Top near-term policy priorities are controlling the spread of COVID-19 and ensuring rapid and widespread vaccine deployment.
To support economic recovery, authorities also need to facilitate a re-investment cycle aimed at sustainable growth that is less dependent on government debt.
“While the global economy appears to have entered a subdued recovery, policymakers face formidable challenges—in public health, debt management, budget policies, central banking and structural reforms—as they try to ensure that this still-fragile global recovery gains traction and sets a foundation for robust growth,” said World Bank Group President David Malpass.
“To overcome the impacts of the pandemic and counter the investment headwind, there needs to be a major push to improve business environments, increase labour and product market flexibility, and strengthen transparency and governance.”
The collapse in global economic activity in 2020 is estimated to have been slightly less severe than previously projected, mainly due to shallower contractions in advanced economies and a more robust recovery in China. In contrast, disruptions to activity in the majority of other emerging market and developing economies were more acute than expected.
“Financial fragilities in many of these countries, as the growth shock impacts vulnerable household and business balance sheets, will also need to be addressed,” Vice President and World Bank Group Chief Economist Carmen Reinhart said.
The near-term outlook remains highly uncertain, and different growth outcomes are still possible, as a section of the report details. A downside scenario in which infections continue to rise and the rollout of a vaccine is delayed could limit the global expansion to 1.6% in 2021. Meanwhile, in an upside scenario with successful pandemic control and a faster vaccination process, global growth could accelerate to nearly 5 percent.
In advanced economies, a nascent rebound stalled in the third quarter following a resurgence of infections, pointing to a slow and challenging recovery. U.S. GDP is forecast to expand by 3.5% in 2021, after an estimated 3.6% contraction in 2020. In the euro area, the output is anticipated to grow 3.6% this year, following a 7.4% decline in 2020. Activity in Japan, which shrank by 5.3% in the year just ended, is forecast to grow by 2.5% in 2021.
Aggregate GDP in emerging market and developing economies, including China, is expected to grow 5% in 2021, after a contraction of 2.6% in 2020. China’s economy is expected to expand by 7.9% this year following 2% growth last year.
Excluding China, the emerging market and developing economies are forecast to expand by 3.4% in 2021 after a contraction of 5% in 2020. Among low-income economies, activity is projected to increase by 3.3% in 2021, after a contraction of 0.9% in 2020.
Analytical sections of the latest Global Economic Prospects report examining how the pandemic has amplified risks around debt accumulation; how it could hold back growth over the long term absent concerted reform efforts; and what risks are associated with the use of asset purchase programs as a monetary policy tool in emerging market and developing economies.
“The pandemic has greatly exacerbated debt risks in emerging market and developing economies; weak growth prospects will likely further increase debt burdens and erode borrowers’ ability to service debt,” World Bank Acting Vice President for Equitable Growth and Financial Institutions Ayhan Kose said. “The global community needs to act rapidly and forcefully to make sure the recent debt accumulation does not end with a string of debt crises. The developing world cannot afford another lost decade.”
As severe crises did in the past, the pandemic is expected to leave long-lasting adverse effects on global activity. It is likely to worsen the slowdown in global growth projected over the next decade due to underinvestment, underemployment, and labour force declines in many advanced economies. If history is any guide, the global economy is heading for a decade of growth disappointments unless policymakers put in place comprehensive reforms to improve the fundamental drivers of equitable and sustainable economic growth.
Policymakers need to continue to sustain the recovery, gradually shifting from income support to growth-enhancing policies. In the longer run, in emerging market and developing economies, policies to improve health and education services, digital infrastructure, climate resilience, and business and governance practices will help mitigate the economic damage caused by the pandemic, reduce poverty and advance shared prosperity.
In the context of weak fiscal positions and elevated debt, institutional reforms to spur organic growth are particularly important. In the past, the growth dividends from reform were recognized by investors in upgrades to their long-term growth expectations and increased investment flows.
Central banks in some emerging market and developing economies have employed asset purchase programs in response to pandemic-induced financial market pressures, in many cases for the first time. When targeted to market failures, these programs appear to have helped stabilize financial markets during the initial stages of the crisis.
However, in economies where asset purchases continue to expand and are perceived to finance fiscal deficits, these programs may erode central bank operational independence, risk currency weakness that de-anchors inflation expectations, and increase worries about debt sustainability.
Nigeria’s Public Debt Stock Climbs to N32.2tn
The Q3, 2020 Total Public Debt Stock released by the Debt Management Office (DMO), revealed that the Total Public Debt Stock stood at N32.223 Trillion or USD84.574 Billion. This shows an increase from N31.009 trillion as of June 30, 2020.
The Debt Stock is made up of the Domestic and External Debt Stocks of the Federal Government of Nigeria (FGN), the 36 State Governments and the Federal Capital Territory (FCT). The break down of the Public Debt Stock showed that 37.82% was External, while the balance of 62.18% was Domestic.
Compared to the Total Public Debt Stock of N31.009 Trillion as of June 30, 2020, the Debt Stock in Q3 2020 increased by N1.214 Trillion or 3.91%.
The FGN, State Governments and the FCT all recorded increases in their Debt Stock due to borrowings to enable them to respond appropriately to the COVID-19 Pandemic and to meet revenue shortfalls.
Issuance of Promissory Notes by the FGN to settle inherited liabilities have also contributed to the growth in the Public Debt Stock since the year 2018 when they were first issued.
While N20.136 Billion of Promissory Notes were issued in Q3, 2020, as at September 30, 2020, the Promissory Notes Outstanding, which are all included in the Domestic Debt Stock, stood at N971.878 Billion.
FGN’s Domestic Debt Service on a Plateau, Totalled N604bn in Q3 2020
We see from the DMO’s latest quarterly release that the FGN’s domestic debt service totalled NGN604bn in Q3 ’20, representing a decline of N3bn on the year-earlier period. Having peaked in 2018, the cost to the FGN has settled on a plateau with a modestly downward bias.
The heavy bill for debt service is a weak point in Nigeria’s credit story, however, particularly as FGN revenue has crashed due to the Covid-19 virus and the related restrictions.
Total debt service according to the fullest definition of the Budget Office of the Federation consumed 95% of the FGN’s revenue inflows in H1 ’20, compared with 51% in the budget. There are tentative signs of an improvement in revenue gathering in Q3 according to CBN statistics (Good Morning Nigeria, 24 December 2020).
Payments on the bonds have been broadly flat so we wait with interest to see the coupon set at the next issue of a new instrument. The last was 9.80% in July (’20) for the new 25-year benchmark. The DMO’s issuance calendar for Q1 ’21 should be instructive.
For the zero-coupon NTBs, there has been a steady fall in the payments, which, given the results of the CBN’s auctions, should have continued into Q4. The costs of the discounts are shown as interest payments.
The data series from the Budget Office includes interest payments on the FGN’s ways and means advances from the CBN, which could be termed an overdraft of sorts and cover the “unfunded” portion of the budget deficit.
To provide some context, the series shows this portion at NGN3.27trn in 2019 and the funded element (ie debt, predominantly FGN bonds, issued by the DMO) at NGN910bn.
The Budget Office puts total debt service at N1.57trn in H1 ’20, divided between NGN850bn domestic, NGN250bn external and NGN460bn for payments on the advances from the CBN.
Relative to the pro-rata budget for the half-year, there were savings on the domestic and external payments. The budget did not allow for servicing of the advances, which are also domestic but not of the DMO’s creation, but did project sinking fund payments of NGN140bn in the six months, which were not made.
Turning to the approved 2021 budget we see a projection of NGN3.32trn for total debt service, consisting of NGN2.18trn domestic, NGN940bn external and NGN200bn for sinking fund contributions. Our hunch is that the domestic component includes payments on ways and means advances.
The payments peak in the first and third quarters of the year, when the issuance of FGN bonds has been concentrated.
Over 32% of TikTok’s Users are Teenagers – Report
Social Media platform TikTok has continued its meteoric rise since an important merger in 2018 that took the platform globally, permeating the mainstream. The platform is especially popular among the younger generation with a majority of teens using TikTok in the US.
According to data presented by Stock Apps, over 32% of TikTok users are in their teens which is the biggest among all age groups. More data indicates that 7 in 10 American teens use TikTok at least once a month.
TikTok Active Users on Android by Age Group (as of June 2020)
The Early Days of TikTok
TikTok is a social media platform that originated in China and is locally known there as Douyin. Douyin was started by ByteDance in 2016 and aimed to spread globally once it gained popularity in mainland China. In 2017 ByteDance launched TikTok which was the international version of Douyin.
In 2018, Bytedance reportedly spent up to $1B to acquire Musical.ly, another Chinese social media startup based out of Shanghai that was founded in 2014. Musical.ly already had a large following especially among the younger generation, this became the foundation for TikTok’s global rise. Since their merger, TikTok has been made available to download in over 150 countries and 75+ languages.
TikTok Widely Popular Among Younger Generation
TikTok allows users to record a short 15-second clip that usually features music in the background and can be edited through filters. A popular kind of clip which originated with the Musical.ly app are short lip-sync videos to trendy songs. The video can also be sped up or slowed down to the users liking allowing for creative little clips that easily go viral.
The platform clearly appeals to the younger generation and has surpassed many other social media platforms in terms of usage among teens. In the fall of 2020, a survey of almost 10K teens indicated that TikTok was the third most popular social media platform behind only Snapchat and Instagram with over 7 in 10 teens indicating that they used the platform at least once a month.
More Than 30% of TikTok’s Android Users are in Their Teens
TikTok’s popularity among the younger generation is no secret and is in fact the backbone of the app’s success. As of the midway point of 2020, 32.5% of TikTok’s Android users are from the 10-19 age group, the largest share of any group, followed by the next youngest generation, the 20-29-year-olds who comprise 29.5% of TikTok’s Android users. That means over 60% of TikTok’s Android users are under the age of 30.
This important share of the market has not been lost among celebrities who seek to expand their reach with stars such as Jimmy Fallon and Tony Hawk among those to join the TikTok party relatively early in 2018. Since then other megastars such as Jennifer Lopez, Justin Bieber and Will Smith have joined the party, among many others.
In the fall of 2019, TikTok also announced a multi-year partnership with the National Football League which included the launch of the official NFL TikTok account giving teams, players and the league a whole new marketing avenue. Partnerships such as these are what help catapult TikTok to become one of the fastest-growing social media platforms today, already boasting 800 monthly active users in less than four years since its launch.
FAAC allocation down slightly by 0.48% to N601.1bn
The Federal Account Allocation Committee (FAAC) disbursed a sum of N601.1bn to the three tiers of government in December 2020. This represents a marginal decline of 0.48% (N2.9bn) compared to the amount shared in November.
This has had no impact on money supply growth. Average FAAC allocation in 2020 is now N644.53bn, 4.24% lower than the 2019 average of N673.07bn. The drop in allocation was largely due to a sharp fall in company income tax (CIT).
Its impact was, however, cushioned by substantial increases in petroleum profit tax, import duty, excise duty, and oil and gas royalties. Gross statutory revenues, which accounted for approximately 73% of total disbursement, increased by 15.42% to N436.46bn while VAT rose by 23.98% to N156.79bn.
Forex equalization revenue amounted to N7.87bn. The balance in the excess crude account was $72.41mn as of December 16.
Analysis
The sharp drop in CIT could be partly attributed to the effects of COVID-19 on corporate revenues and margins. With the renewed spike in infections, the government is likely to enforce renewed restrictive measures, including a precision lockdown.
This means that CIT could decline further in the coming months. Unemployment is also likely to continue to climb (above 35%) as companies’ lay-off staff to reduce operating expenses.
Ford Sales Fall 9.8% Due to Covid and F-150 Availability
Ford’s Q4 total industry sales totaled approximately 4.3 million vehicles – a small decline of 2.8 percent over a year ago. Ford estimates the retail industry was up 2.7 percent, while fleet was off 26.3 percent.
The month of December finished the year strong with industry sales up 5.2 percent over a year ago, equating to a 16.9 million total vehicle SAAR.
- Truck Customers Make F-Series America’s Best-Selling Pickup For 44 Straight Years;
- Ford Brand Achieves 11 Straight Years as America’s Best-Selling Brand;
- Ford Explorer Claims Top Spot in 2020; Luxury Customers Propel Lincoln SUVs to Highest Sales in 17 Years
Sales of the all-new 2021 F-150 began in December, with more trucks in transit, while currently averaging just 6 days on dealer lots. Ford sales were impacted by lower F-150 inventories from the lingering effects of the Q2 coronavirus production stoppage leading up to the all-new F-150 transition. Super Duty sales maintained a strong selling pace and were up 14.1 percent while F-150 sales were off 32.7 percent.
“Fourth quarter represented an inflection point at Ford in our transition from cars to a much greater focus on iconic trucks, SUVs and electric vehicles to better serve our customers. We began to see our strongest evidence of this in December with retail sales up 5.3 percent with the launch of our new F-150, Bronco Sport and Mustang Mach-E. We are well positioned to see the benefits of our focused efforts throughout 2021.”
– Andrew Frick, vice president, Ford Sales U.S. and Canada
Q4 marks an inflexion point for Ford, as Fusion and Fiesta sales wind down, F-150 transitions and new SUVs including Bronco Sport and Mustang Mach-E sales begin. Ford Q4 retail sales adjusted for F-150’s transition were up 4 percent – outperforming the estimated retail industry gain of 2.7 percent.
Q4 Ford brand SUV sales posted an overall increase of 4.7 percent and 9.8 percent at retail, led by Explorer, Expedition and the all-new Bronco Sport.
Explorer lays claim to America’s best-selling mid-size SUV on sales of 226,217 vehicles. Explorer represents one of the few vehicles to increase its sales in 2020, with a reported gain of 20.9 percent. Q4 represents the initiation of Bronco Sport and late December introduction of Mustang Mach-E as Ford transitions from cars to SUVs.
Led by Transit, Ford Q4 van sales totaled 59,056 vehicles – making Ford the best-selling maker of commercial vans for 42 years straight, with 2020 van sales totaling 203,153 vehicles.
For the year, Lincoln retail SUV sales increased 5.3 percent, making 2020 Lincoln’s best retail SUV sales performance in 17 years. For the year, Lincoln retail SUV share increased 0.4 percentage points to 6.7 percent.
WINNING PORTFOLIO
Ford Transit has been America’s best-selling commercial van since its first full year of sales in 2015. Commercial van customers purchased 37,886 Ford Transit vans in Q4, posting a 2.7 percent gain over year ago. For the year, Transit outsold its second-place competitor by 139 percent with a 38 percent share of the full-size van segment.
F-Series sales totaled 787,422 in 2020, making it America’s best-selling pickup for the 44th straight year. While Q4 F-150 sales were off 32.7 percent, on short inventory, the all-new F-150 is averaging just 6 days on dealer lots with F-150 Hybrid starting sales in December.
High-Series models account for nearly half of early sales mix – approximately 20 points higher than the outgoing model.
Explorer Q4 sales gained 28.7 percent on sales of 66,008 SUVs. Customers made Explorer the industry’s best-selling mid-size SUV in 2020. The all-new Bronco Sport began sales in Q4, with sales of 5,120 SUVs. The all-new Bronco Sport is averaging just 6 days on dealer lots. At the end of December, Mustang Mach-E also began its first sales.
Mustang sales totaled 61,090 for the year, marking its sixth straight year as America’s best-selling sports car. Mustang also finished the final quarter on total sales of 13,453 cars. At retail, Mustang sales were up 14.8 percent for the quarter.
Combined Q4 retail sales of Shelby GT350 and GT500 increased 36 percent, with retail sales up 14 percent for the year.
Lincoln had its best annual retail luxury SUV performance since 2003, with strong momentum coming from a new product.
Aviator sales were up 13.3 percent for the quarter, while the Corsair was up 6.6 percent with sales of 8,050. Aviator’s Q4 retail share gained 7.2 percentage points, giving it 11.2 percent of the premium large SUV segment.
FCMB Appoints Yemisi Edun Acting MD/CEO
First City Monument Bank (FCMB) has named Yemisi Edun as the acting Managing Director/CEO following the stepping aside of embattled Adam Nuhu.
She is taking over from Mr Adam Nuhu, who stepped aside from the exalted position to allow for an investigation into the allegation of unethical behaviour by him.
He was accused of having a romantic affair with a former employee of the financial institution, Mrs Moyo Thomas. The alleged romance produced two children, according to reports.
The new chief executive of the bank is Yemisi Edun.
Yemisi Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom.
She is a Fellow of the Institute of Chartered Accountants of Nigeria and a CFA® Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Control, U.S.A; and a Certified Information Systems Auditor.
She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in Corporate Finance activities. She was also involved in the audit of Banks and Other Financial Institutions.
She joined FCMB in the year 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank and now as CEO.
