Henkel is reaching a milestone in its engagement for sustainable packaging: The company used almost 700 million bottles made of 100 percent recycled plastics for Laundry & Home Care products in Europe – more than 400 million alone in 2020.
The recycled material stems from post-consumer waste, including Social Plastic® from Henkel’s partnership with the Plastic Bank.
By increasing the number of packaging made of recycled material, Henkel does not only contribute to a circular economy but also to climate protection: Recycled PET has an almost 80 percent lower CO2 footprint compared to virgin plastic.
“At Henkel, we promote sustainable packaging solutions and foster a circular economy along the value chain – because we are committed to living up to our responsibility as a consumer goods manufacturer,” says Abdullah Khan, Head of Packaging Sustainability Laundry & Home Care at Henkel.
“We are increasing the share of recycled material across our entire portfolio and many packaging includes recycled plastics already. It is not always possible to advance to 100 percent – also due to the limited availability of high-quality material.
Nevertheless, we have significantly expanded the number of consumer products with bottles made of 100 percent recycled plastics. Reaching the 700 million mark is both a great achievement and a motivation to further accelerate our efforts.”
Sustainable packaging for consumer goods products
The packaging made of 100 percent recycled plastics covers a broad range of Henkel’s brands and categories. Most PET bottles within Henkel’s Laundry & Home Care business in Europe are already converted to 100 percent recycled material.
These include bottles for dishwashing, hard surface cleaning, fabric finisher and laundry brands such as Pril, Mir, Pur, Somat, Bref, Biff, Sidolin, Clin, Silan and Vernel. For example, the PET bottles of the Pro Nature product range are made of 100 percent recycled plastics, 50 percent of which is Social Plastic®.
Social Plastic®, originating from Henkel’s partnership with Plastic Bank, contributes both to environmental and social causes: The recycled plastic has been collected in countries without functioning recycling infrastructures by people living in poverty before it enters oceans or waterways.
Progress has also been made in the Beauty Care portfolio: Just recently, Henkel’s hair and body care brand Nature Box was the first beauty brand to introduce Social Plastic® as a packaging material for its complete bottle portfolio: All bottle bodies of Nature Box are made of 98 percent Social Plastic® – and Henkel is currently working to replace the remaining 2 percent virgin plastic, which is based on the bottle’s colour, with the recycled material as well. For that, the company is already testing a colour carrier consisting of Social Plastic®.
Henkel’s targets for sustainable packaging and climate protection
The use of post-consumer recycled plastics is an important pillar of Henkel’s packaging targets for 2025. The company is working towards the ambitious target to reduce the amount of virgin plastic from fossil sources in its consumer product packaging by 50 percent by 2025.
To reach this goal, Henkel aims to increase the proportion of recycled plastics to more than 30 percent by 2025, reduce the absolute plastic volume and increase the use of biobased plastics. In addition, 100 percent of Henkel’s packaging will be recyclable or reusable*.
The company also wants to help prevent waste from being disposed of in the environment. In order to achieve this, Henkel is supporting waste collection and recycling initiatives, for example.
“Sustainable packaging solutions are not only addressing the global challenge of plastic waste but also contribute to our targets for climate protection. By 2040, Henkel wants to be a climate-positive company. By using more and more recycled plastics, we further reduce our carbon footprint and thus drive progress toward sustainable development,” says Abdullah Khan.
These are His Heritage Home and Tabitha Home. His Heritage Home is a transitional and care shelter for orphans and vulnerable children, whilst the Tabitha Home is a formal care and transitional home for orphans and vulnerable children.
The visits are in line with Henkel’s recognition and support of voluntary employee engagement by way of caring for local communities.
WAW detergents, food materials, groceries and stationeries were donated to the children’s homes. Mr. Aliyu Jibril, Human Resources Manager Henkel Nigeria, represented the Managing Director, Mr. Rajat Kapur.
According to him,
“This year has been really tough for many Nigerians. Beyond the need to engage with our neighbours, Christmas is all about giving, hence, we have a responsibility to show how much we care for the most vulnerable amongst us, which are children. By helping put smiles on their faces, we believe we are making a difference in their lives and giving them a reason to hope for a better tomorrow”.
In her response, Temilooluwa Moronkeji, Chief Executive Officer of His Heritage Homes, thanked the management of Henkel Nigeria for the kind gesture. According to her, the gifts would go a long way to cushioning the effect of the COVID-19 pandemic and harsh economy.
While receiving the gifts on behalf of Tabitha Home, the Chief Executive Officer, Mrs. Febishola Okonkwo, expressed her appreciation, describing it as a timely intervention which demonstrates that Henkel Nigeria is indeed caring, and prayed for the continuous progress of the company.
The event also featured dances, gifts from Father Christmas to the children, cooking, competitions, and more.
Henkel holds leading positions in many markets and categories around the world. In Nigeria, it has continued to provide quality products such as Nittol Antibacterial detergent and soap and WAW detergents. On the global stage, it was founded in 1876 and operates with well-balanced and diversified portfolios.
Few organisations will view the final weeks of 2020 as a bittersweet moment. In addition to the staggering human toll inflicted by the COVID-19 pandemic, entire industries saw longstanding business models upended, forcing companies to completely rethink their relationships with employees, vendors, and customers.
The financial services industry was no exception, and 2020 saw fintech becoming more important than ever as firms rushed to embrace digital transformation in response to the ongoing crisis. Many of these trends appear poised to continue well into 2021 and beyond.
2020 saw fintech becoming more important than ever
Fintech defined
Fintech is short for “financial technology”, but the term itself is applied quite broadly throughout the financial services industry. It can be used to refer to a new generation of non-traditional start-up companies focused on building digital tools that allow people to manage their finances in new ways that disrupt established industry practices.
The term is also sometimes used to describe the technology itself, however, especially since established financial organisations are investing heavily in innovative applications and services of their own.
Fintech trends for 2021
Although 2020 is sure to be remembered as a year of unprecedented disruption, 2021 might well come to be known as a year of remarkable adaptation and transformation. Now that organisations have developed innovative digital strategies to navigate a more volatile economic landscape, they must now take up the challenge of putting those plans into practice.
Fintech developers need to keep an eye on these trends as they build new applications and services in order to provide the functionality and performance demanded by the financial industry. Many established firms will be taking a long look at their infrastructure and technology solutions to assess whether or not their current systems are up to the challenge of digital transformation.
If their existing platforms fall short, they will need to either seek out new fintech products with more robust feature sets or explore options for integrating new capabilities into their legacy software.
The proliferation of fintech solutions has brought customers to the forefront of every financial organisation’s thoughts. Where the financial industry once designed processes and applications to suit their own needs, today they must focus on delivering a high-quality customer experience if they want to remain competitive in a crowded marketplace.
The process often begins with reducing friction wherever possible to help end-users get the products and services they need faster. With customers increasingly interacting with the financial industry across multiple channels, fintech developers must build solutions that strengthen those connections and expand their potential.
Eliminating manual processes, cutting down on external software dependencies, and automating routine tasks will continue to be a major point of emphasis for fintech applications. Customers no longer have the patience to repeatedly fill out lengthy forms or go through the frustrating process of downloading, printing, signing, and scanning documents.
By building document viewing, file conversion, and data capture capabilities into their applications, fintech developers can provide firms with a unified digital solution that addresses multiple needs and streamlines their customer experience.
2. Digital-first collaboration
According to a recent IDG study on the enduring business impacts of the COVID-19 pandemic, about 40% of employees are expected to be working remotely on a semi-permanent basis as of January 2021.
That means financial organisations will continue to need digital tools in place to provide secure access to files and facilitate collaboration. Physical documents must first be converted into a variety of digital formats with high levels of accuracy and then made available to remote users without compromising data integrity or creating confusion over version history.
Without a dedicated solution on hand for viewing, editing, and managing documents, users are forced to resort to a variety of ad hoc workarounds and third-party software solutions that can quickly compromise data security and increase the likelihood of errors.
By integrating those features into their fintech applications, developers can help firms keep all of their documents and files safely within a secure infrastructure while still making them available through easy-to-use web-based API tools.
3. Big data management
Financial organisations continue to collect huge amounts of data in the course of their business. Some of this data is unstructured and must be processed using powerful analytics tools to identify important trends and potential risks that can help firms make better strategic decisions. But they also gather a great deal of structured data as well, typically from structured forms like loan applications, tax documents, and bank statements.
Managing all of this information more efficiently will be an important goal for 2021 because having good data insights is essential for identifying opportunities, optimising products and services, and automating essential services.
Fintech developers can help improve data processing by building applications capable of extracting information quickly and accurately. Financial data algorithms are quite good at identifying different types of data and sorting it into the proper place for analysis, but they’re often slowed down by documents that are damaged or difficult to read.
Thanks to software integrations that provide robust image cleanup, document alignment, and form recognition tools, fintech applications can ensure that firms are starting with the cleanest possible source data when extracting information for processing.
4. Pandemic proofing
Although there are several promising COVID-19 vaccines on the horizon, challenges with supply and distribution will keep most companies operating under the same social distancing and remote workplace guidelines they put in place in 2020 for much of the year.
Even if restrictions are lifted earlier than expected, the risk-averse financial industry will continue to think about how to avoid similar disruptions by implementing paperless processes and electronic data capture options.
Just as retailers and manufacturers are rethinking their supply chain infrastructure, financial services companies must reassess their fintech applications in light of recent challenges.
Developers can help the financial industry better “pandemic proof” their processes by integrating better document viewing, file conversion, and data capture tools into their software solutions.
Not only can they automate traditionally time-consuming (and error-prone) manual data entry tasks, but they can also build in additional functionality to auto-generate data for new contracts and allow people to sign documents digitally to eliminate the need for face-to-face meetings.
5. Banking partnerships
Banks and other traditional financial institutions are increasingly partnering with fintech start-ups to reach new customers and engage with existing clients over new channels. As Deloitte noted in a recent study, the pandemic has removed many of the obstacles to digital transformation in the financial industry and forced many established firms to pour tremendous resources into their tools and infrastructure.
But as banks engage with innovative startups, they will need to find ways to integrate operations and data quickly to remain competitive and roll out new services successfully.
That integration process will be easier if they have flexible software solutions in place that can navigate multiple file types, perform cleanup and conversion, and extract essential data quickly and accurately.
Whether they’re building that functionality into entirely new applications or integrating features into existing legacy systems, fintech developers will play a key role in helping financial organisations accelerate their merger and partnership timetables so they can begin reaping the benefits more quickly.
Solving your fintech challenges with Accusoft
Accusoft’s collection of RESTful APIs and SDKs provide fintech developers with the tools they need to build comprehensive content processing, conversion, and automation solutions into software applications.
Whether you’re using PrizmDoc Suite to view, edit, and convert documents directly inside their financial applications, capturing valuable financial data from various form types with FormSuite for Structured Forms, or embedding powerful image cleanup, OCR, and annotation tools into your application with ImageGear, our family of software integrations allow you to add the functionality your fintech solutions need to meet the challenges of 2021 and beyond.
UNICEF warns numbers could rise further without urgent action
30 December 2020 –As 2021 approaches, UNICEF is deeply concerned for the health and well-being of 10.4 million children projected to suffer from acute malnutrition next year in the Democratic Republic of the Congo (DRC), northeast Nigeria, the Central Sahel, South Sudan and Yemen.
These are all countries or regions experiencing dire humanitarian crises while also grappling with intensifying food insecurity, a deadly pandemic and – with the exception of the Central Sahel – a looming famine.
UNICEF/UN0276428/Almahbashi
UNICEF Executive Director Henrietta Fore says:
“For countries reeling from the consequences of conflicts, disasters and climate change, COVID-19 has turned a nutrition crisis into an imminent catastrophe, Families already struggling to feed their children and themselves are now on the brink of famine. We can’t let them be the forgotten victims of 2020.”
In the Democratic Republic of the Congo, an estimated 3.3 million children under five will suffer from acute malnutrition in 2021, including at least 1 million with severe acute malnutrition. These alarming figures are due to ongoing insecurity, the socioeconomic consequences of the COVID-19 pandemic, and limited access to essential services for vulnerable children and families.
In northeast Nigeria, more than 800,000 children are expected to suffer from acute malnutrition in 2021, including nearly 300,000 with severe acute malnutrition who are at imminent risk of death.
In the northwest of the country, the nutrition situation is even direr. Kebbi State is experiencing a chronic malnutrition rate of 66 per cent, more than 20 per cent higher than Borno State in the northeast. In Sokoto State, also in Nigeria’s northwest, close to 18 per cent of children suffer from wasting and 6.5 per cent suffer from severe wasting.
In South Sudan, The Integrated Food Security Phase Classification (IPC) update released earlier this month indicated a further deterioration of food security, with almost 7.3 million people – 60 per cent of the population – expected to be facing severe acute food insecurity in 2021.
An estimated 1.4 million children are expected to suffer from acute malnutrition in 2021, the highest since 2013. Meanwhile, the number of children suffering from severe acute malnutrition is expected to increase from about 292,000 children this year to over 313,000 children in 2021.
The increase in household food insecurity and acute malnutrition among children is attributed to ongoing conflict and insecurity, and limited access to essential nutrition, health care and water, sanitation and hygiene services. Flooding in some areas in 2020 has exacerbated the already high level of acute malnutrition among children.
In the Central Sahel countries of Burkina Faso, Mali and Niger, intensifying conflict, displacement and climate shocks will leave an estimated 5.4 million people struggling to meet their daily food needs during the next lean season. Acute food insecurity has increased by 167 per cent in Burkina Faso, 34 per cent in Mali and 39 per cent in Niger, compared with the five-year average.
The number of children suffering from acute malnutrition could rise by 21 per cent. This would bring the total number of malnourished children in the three countries to a staggering 2.9 million, including 890,000 children suffering from severe acute malnutrition.
Across Yemen, over 2 million children under five years of age suffer from acute malnutrition, including nearly 358,000 with severe malnutrition – a number that is expected to rise.
In 133 districts in southern Yemen, home to 1.4 million children under five, recent analysis reveals a near 10 per cent increase in children with acute malnutrition between January and October 2020. This includes a more than 15 per cent increase – nearly 100,000 children – in cases of severe acute malnutrition. A similar analysis is being finalized for northern Yemen and alarming results are expected there as well.
In all these countries and beyond, UNICEF is urging humanitarian actors on the ground and the international community to urgently expand access to and support for nutrition, health and water and sanitation services for children and families.
Despite challenges in the context of COVID-19, this year UNICEF and partners have continued to deliver lifesaving assistance to the most vulnerable children and their families in the hardest to reach areas through adjustments on the existing programmes to maintain and increase access.
UNICEF has appealed for more than US$1 billion to support its lifesaving nutrition programmes for children in countries affected by humanitarian crises over 2021.
With the calendar flipping to 2021, UNICEF dedicates its 75th year to reimagining a better world for children.
NEW YORK, 1 January 2021 – An estimated 371,504 babies will be born around the world on New Year’s Day, according to UNICEF.
As the calendar turns to 2021, UNICEF is again celebrating the new lives being brought into the world on January 1. Fiji in the Pacific will welcome 2021’s, first baby. The United States will welcome its last.
UNI288585/Dejongh/2020 New mother Animata cuddles her newborn baby at the PMI health center of Odienné, Northeast of Côte d’Ivoire.
Globally, over half of these births are estimated to take place in 10 countries: India (59,995), China (35,615), Nigeria (21,439), Pakistan (14,161), Indonesia (12,336), Ethiopia (12,006), the United States (10,312), Egypt (9,455), Bangladesh (9,236) and the Democratic Republic of the Congo (8,640).
In total, an estimated 140 million children will be born in 2021. Their average life expectancy is expected to be 84 years.
“The children born today enter a world far different than even a year ago, and a New Year brings a new opportunity to reimagine it,” said UNICEF Executive Director Henrietta Fore. “Children born today will inherit the world we begin to build for them—today. Let us make 2021 the year we start to build a fairer, safer, healthier world for children.”
2021 will also mark the 75th anniversary of UNICEF. Over the course of the year, UNICEF and its partners will be commemorating the anniversary with events and announcements celebrating three-quarters of a century of protecting children from conflict, disease and exclusion and championing their right to survival, health and education.
Most popular baby names in select countries around the time of UNICEF’s creation*
Male
Female
Australia
John
Margaret
China
Ming
Shulan
Croatia
Ivan
Marija
Denmark
Erik
Kristen
France
Jean
Marie
Germany
Hans
Renate
Israel
Moshe
Esther
Japan
Masaru
Kazuko
Korea
Yeong-ho
Yeong-ja
Poland
Jan
Maria
Russia
Ivan
Maria
Spain
Jose
María Carmen
United Kingdom
John
Margaret
United States
James
Mary
“Today, as the world faces a global pandemic, economic slowdown, rising poverty and deepening inequality, the need for UNICEF’s work is as great as ever,” said Fore. “For the last 75 years, throughout conflicts, displacements, natural disasters and crises, UNICEF has been there for the world’s children. As a New Year dawns, we renew our commitment to protect children, to speak up for their rights, and to make sure their voices are heard, no matter where they live.”
In response to the global pandemic, UNICEF launched the Reimagine campaign, a global effort to prevent the COVID-19 pandemic from becoming a lasting crisis for children. Through the campaign, UNICEF is issuing an urgent appeal to governments, the public, donors and the private sector to join UNICEF as we seek to respond, recover and reimagine a better, post-pandemic world.
Mouka, Nigeria’s foremost manufacturer of mattresses and other bedding products, celebrates families with babies born on New Year’s day, in Lagos, Ogun and Oyo States in furtherance of its commitment of adding value to life.
Mouka presented gifts to mothers of the first babies at the Lagos State University Teaching Hospital (LASUTH), Olabisi Onabanjo University Teaching Hospital (OOUTH), Shagamu, in Ogun State, and the University College Hospital (UCH), Ibadan, Oyo State. The gifts comprised of Dreamtime Baby mattress, Mouka baby mat, baby wipes and diapers.
From Left: Consultant Respiratologist, Olabisi Onabanjo University Teaching Hospital (OOUTH), Dr. Bola Adefuye; with mother of the First Baby of the Year, Mrs Odunaya Damilola; Chief Medical Director, OOUTH, Dr. Peter Adefuye; Deputy Director, Nursing Services, OOUTH, Mrs. Kikelomo Enaholo; Rep. Director of Admin., OOUTH, Mr. Amoo Soboyede; Regional Sales Manager, Mouka, Oluyemi Ogunbase; and the Principal Information Officer, OOUTH, Mrs. Mopelola Adenuga; at the presentation of gifts to the First baby of the year by Mouka, at OOUTH, Shagamu, Ogun State, on January 1, 2021. | www.brandspurng.com
First Lady of the State, Dr Ibijoke Sanwo-Olu, the wife of the Deputy Governor, Mrs Oluremi Hamzat, and other top Government functionaries who were part of the Governor’s wife entourage, made donations to first babies at select hospitals including LASUTH, to mark the New Year celebration.
From Left: Mouka Business Partner Manager, Samuel Arokoyo, with Mother of the First Baby of the Year, Mrs Adesokan Adebola; Chief Medical Director, University College Hospital (UCH), Ibadan, Prof. Jese Abiodun Otegbayo; and Vice President, Nigeria Society of Physiotherapy (NSP), Dr Felix Odusanya; at the presentation of gifts to the First baby of the year by Mouka, at UCH, Ibadan, Oyo State, on January 1, 2021. | www.brandspurng.com
Commenting on the initiative, the Chief Operating Officer, Mouka, Femi Fapohunda, said as the owners of sleep in Nigeria, Mouka continues to advocate a healthy sleep culture, especially for children. This is why Mouka donates Dreamtime mattresses specially designed with children in mind, to the first babies of the year.
The Dreamtime mattress is water-resistant yet breathable to keep the body cool. It is also made with the right density of foam to keep children comfortable while they sleep.
Fapohunda pointed out that quality sleep is associated with physical and cognitive development in children which is why it associates itself with the worthy programme of the Lagos First Lady and others in the region, bringing succour to families of first babies.
Last year, the socially responsible company also partnered with the Office of the First Lady of Lagos State to celebrate the first babies.
Speaking with much joy and smile on his face, the father of the first baby at LASUTH, Oluwapelumi Fagade and his wife Adesola commended Mouka for the valuable gifts.
For over 61 years, Mouka has grown to become Nigeria’s preferred brand of mattresses and other bedding products.
Mouka has a wide range of quality products such as Wellbeing orthopaedic mattresses, Klinic hospital mattress, Mondeo Plus spring mattress, and an assortment of pillows to help Nigerians sleep well and wake up refreshed.
A group of people (Justice for Tunde Thomas) seeking justice had earlier petitioned the Central Bank of Nigeria (CBN), and the board of FCMB concerning unethical behaviour of Adamu Nuru and former staff of the bank, Moyo Thomas, that led to the death of Tunde Thomas, the husband of Moyo Thomas.
Managing Director/Chief Executive Officer, Mr. Adamu Nuru | www.brandspurng.com
According to FCMB’s Corporate Affairs Head, Diran Olojo, FCMB Group, the bank was aware of the allegations making the rounds against its Managing Director.
Olojo revealed that the financial institution had commenced a review into the matter, saying the outcome would be discussed in due course.
The statement reads:
“We are aware of several stories circulating across several media platforms about our bank’s Managing Director, Adam Nuru, a former employee Ms Moyo Thomas and her deceased ex-husband, Mr Tunde Thomas,”
“While this is a personal matter, the tragedy of the death of Mr Tunde Thomas and the allegations of unethical conduct, require the bank’s board to conduct a review of what transpired, any violations of our code of ethics and the adequacy of these code of conduct ethics. This will be done immediately.
“We enjoin all our stakeholders to bear with us as we conduct this review and to please respect the various families involved.
“Our Board of Directors are reviewing all aspects of this report and once they are done with their review, we will revert to you.”
COVID-19 had a tremendous impact on the sports world with many leagues needing to suspend and then restart their leagues in difficult situations. The football world was not immune to this as many clubs saw their revenue streams and brand value affected.
Despite the pandemic, according to data presented by Safe Betting Sites, Manchester United’s brand value reached up to $1.46B in 2020 – the most in the English Premier League (EPL).
Marcus Rashford celebrates his late winner against Wolves that put Manchester United on Liverpool’s tail. Photograph: Ash Donelon/Manchester United/Getty Images
The EPL is widely considered as the most competitive league out of Europe’s football leagues. With more money coming into football, the competition has intensified even more with the traditional ‘Big 4’ replaced with what is now considered the more appropriate ‘Top 6.’
Although performances on the pitch and the league table often depict a far different picture than the term suggests, many are in agreement as to which clubs the term refers to and the list of most valuable brands reflects the same ‘Top 6.’
The most valuable brand in the Premier League as Manchester United with a brand value of $1.46B beating out their arch-rivals on the pitch Liverpool which takes 2nd place on the list with a brand value of just under $1.4B.
The blue half of Manchester takes 3rd place on the list with Manchester City’s brand worth $1.245B. The remaining three spots are filled by London clubs with Chelsea, Tottenham, and Arsenal rounding out the top 6 with brand values of 1.05B, 868M, and $796M respectively.
Strong Performances on the Pitch See Liverpool Overtake City
In what was one of the most dramatic EPL seasons in history, albeit due to non-footballing reasons, Liverpool FC won their first Premier League title in 30 years ending a historic drought. The season prior the Reds also won their 6th European Championship in club history making the last couple of years one of the most successful in Liverpool’s recent history.
Liverpool’s recent success saw them increase their brand value despite the pandemic while Manchester City experienced a decline of 11% in their brand value.
Tottenham Hotspur More Valuable than North London Rivals for 1st Time
Arsenal FC meanwhile has experienced their worst run of final league positions in the last two decades and have been missing out on the lucrative Champions League positions since 2017.
Arsenal’s struggles are compounded even more considering their North London rivals Tottenham Hotspur have been going through what many call their “golden age,” producing highly competitive squads that regularly compete for silverware.
In 2019 Tottenham also introduced their new world-class home, Tottenham Hotspur Stadium, which is comparable with any of the best sporting venues around the world.
With different fortunes both on and off the pitch, the tables have turned in North London for the first time as Tottenham was rated as the more valuable brand of the two football clubs, putting yet another twist in their already heated rivalry.
The Bond Market closed the year on a muted note, dampened by New Year celebrations. We saw interest in the 2049s paper, which was offered around 8.35% at the early hours but eventually printed around 8.50% levels.
We also saw a few trades on the 2027s maturity, which traded around 6.30% levels. By and large, yields closed flat D/D across the Benchmark bond curve.
We expect a cautious start to the New Year once trading resumes as investors weigh in on the different investment options available.
Treasury Bills
It was a sluggish trading day in the Treasury Bills market, as market players wrapped up activities to close out the year.
We anticipate significant activity for next week, triggered by buoyant system liquidity. Albeit most dealers would most likely restrict their investments within the short- and medium-term bills.
Money Markets
Liquidity in the interbank market opened with over N1trillion causing money market rates to remain within the single-digit levels on the last day of the year. OBB and OVN rates increased slightly by c.21bps to close at 0.50% and 0.88% respectively.
We anticipate rates to start the New Year in the single-digit territory supported by a buoyant system liquidity.
FX Market
We witnessed a significant movement at the IEFX space in rates depreciating by N16.25k from yesterday’s closing. This movement was triggered by the Apex bank’s FX intervention sale, which settled at N410/$1. All other market segments remained unchanged, closing the year on a very passive note.
Eurobonds
The NIGERIA Sovereign and NIGERIA Corps tickers had a grim trading session, with most market participants’ closed shop for the year. Yields remained unchanged across the sovereign yield curve, and most tracked corporate papers to close. out the year.
The Founder of FCMB Group Plc, Nigeria’s leading financial group has disclosed that its founder, Balogun Michael Olasubomi had purchased 5,123,275 shares of the group at the Nigerian Stock Exchange (NSE) at N2.9925 per unit. The FCMB founder paid a cumulative sum of N15.35 million for a total of 5.1 million additional stocks.
The transaction on 18th, 21st, 22nd, 23rd and 24th December 2020 cost N15,331,400.4375, according to an insider dealing disclosure at the NSE.
Otunba Balogun Michael Olasubomi | www.brandspurng.com
Transaction breakdown
Tranche 1: 1,299,198 units – N3.0154, totaling N3,917,601.65
Tranche 2: 524,077 units – N2.9674, totalling N1,555,146.09.
Tranche 3: 1,100,000 units – N2.9779, totaling N3,275,690.
Tranche 4: 200,000 units – N2.9997, totaling N599,940.
Tranche 5: 2,000,000 units – N3.0019, totalling N6,003,800.
FCMB Group posted revenue of N48.3 billion for the third quarter of 2020 (Q3 2020), recording an impressive result across key financial metrics. It is also pertinent to note that this type of stock is casually referred to as “Founders stock” and differs from common stock in the sense that, they can only be issued at face value and it comes with a vesting schedule
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