Sanwo-Olu calls for equal Trade Partnership between UK and Africa

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Sanwo-Olu calls for equal Trade Partnership between UK and Africa

Lagos State Governor, Mr. Babajide Sanwo-Olu, has called for equal partnership between the United Kingdom and African countries if it hoped to have genuine global development.

Speaking to journalists at the sideline of the UK-Africa Investment Summit that opened in London on Monday, the Governor reaffirmed that his administration will bring new opportunities that will improve the lives of Lagosians.

According to the Governor: “It is truly a function of who is a partner, who stands and sees you as a fellow partner, not behind, not in front but standing right beside you and sees you and the challenges you have and asking ways which we can work together. So for me, those points truly suggest that we can begin to see true partnership come out of conversations like this.

“For us, it is to see what type of giver you are, are you seeing us as equal partners or master to servant relationship. At the end of the day, what we will be seeking to achieve is what is the greatest good for the greatest number? What are those additional benefits that we see and believe that have potentials to improve the lives of our people?”

The UK-Africa Investment Summit is attended by African leaders, international business Chief Executives and heads of international organisations with the aim of creating new partnerships that will deliver more investments and jobs to the benefit of people and businesses in African countries and the United Kingdom.

The Governor also noted that it is a major opportunity for Africans, most of all Lagos, stating that if the summit is not properly tapped, it could be transferred somewhere else.

According to Sanwo-Olu, the State Government is open for transactions that will make Lagos better, emphasising on the importance of time.

Governor Sanwo-Olu, at the Summit, joined President Muhammadu Buhari, Governor Dapo Abiodun of Ogun State and Minister of Industry, Trade and Investment, Otunba Niyi Adebayo for meetings on trade and investment.

Sanwo-Olu appoints Five new Permanent Secretaries

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Sanwo-Olu appoints Five new Permanent Secretaries

The Lagos State Governor, Mr. Babajide Sanwo-Olu has approved the appointment of five new Permanent Secretaries.

A circular released on Monday by the Head of Service, Mr. Hakeem Muri-Okunola, confirmed the appointments as part of Governor Sanwo-Olu’s giant strides to attain the set objectives espoused in the THEMES agenda.

Okunola listed former Director of Financial Intelligence and Research at the State Treasury Office, Mr. Olujimi Ige as the new Permanent Secretary at Debt Management Office (DMO), a former Director of Finance and Accounts of the State Auditor General, Mrs. Ajenifuja Kafayat Adetokunbo is Permanent Secretary, Parastatal Monitoring Office while Mr. Adeniji Hakeem Oduyinka, who until now was Director of Commerce at the Ministry of Commerce, Industry and Cooperatives moves up as Permanent Secretary, Office of the Civic Engagement. Also former Director of Public Affairs, Ministry of Information and Strategy, Mr. Thorpe Isaac Olusina becomes the Permanent Secretary of the same Ministry.

The circular names Dr. Aina Olugbemiga Ayoola formerly the Medical Director at Massey Street Children’s Hospital as the Permanent Secretary of the Primary Health Board.

The statement noted that all the appointments, which have different deployment dates take immediate effect. While new Permanent Secretary of the Ministry of Information and Strategy resumes on the 8th of February, his Primary Health Board counterpart will take over the mantle on the 23rd of February.

Okunola wished the new Permanent Secretaries a most rewarding and impactful tenure.

Month-on-Month Inflation Expands at a Slower Pace in December

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Month-on-Month Inflation Expands at a Slower Pace in December
  • Headline inflation ticked up by 13bps to 11.98% year-over-year (YoY) in December
  • Core price index grew by 34bps to 9.33% YoY
  • Food price index grew by 18bps to 14.67% YoY

Inflation data released by the National Bureau of Statistics this morning showed that consumer prices rose by 0.85% MoM in December, marking the slowest MoM change in nine months. The lower than expected MoM number largely mirrored a second consecutive slowdown in food inflation by 29bps to 0.97% MoM (due to the fading impact of the border closure), which more than offset the increase in the core basket. The core basket expanded for the second consecutive month by 2bps to 0.81% MoM, which reflects MoM increases in average diesel,  cooking gas and kerosene prices by 2.10%, 0.92% and 0.96% to N229.81/litre, N2,018.68/5kg  cylinder and N320.59/litre respectively.

Figure 1: Inflation Trend over 2019: YoY and MoM

Source: NBS, NOVA Research

On a YoY basis, headline inflation expanded by 11.98% from 11.85% in November 2019, with headline inflation in 2019 averaging 11.39% (5bps higher than 11.34% average as at November)  compared to 12.15% average in 2018. Much of the expansion over the past four months stemmed from the feedthrough of the land border closure on food prices, which more than outweighed the onset of the main harvest season, with food prices expanding 18bps to 14.67%  YoY from 14.48% in November. The impact of the higher foods prices is further compounded by an increase in the core index for the second consecutive month by 33bps to 9.32%YoY compared to 8.99% in November.

Overlaying the twelve-month average rate on average fixed income yield of 7.11% and the closing rate of the 364-Day NTB at last week’s auction of 5.09% translates to a negative real

return of 487bps and 689bps respectively. We believe the level of real return and the somewhat illiquidity at the OMO space will continue to constrain the rate of FPI inflows into the country and a further depletion in the FX reserve.

Going into 2020, we believe the catalyst of inflation will not be so far from what we witnessed in  2016 when the MYTO review took effect in February and an upward adjustment to the pump price of PMS in May. While we do not see an abrupt change in the pump price of PMS in 2020  (even with the PPPRA template suggesting open market price of N172.73), our channel checks reveal that the proposed increase in MYTO tariff would kick off in the second half of 2020, with the increase in VAT rate from 5% to 7.5% expected to take effect starting February 1, 2020. The  MYTO tariff alongside our expectation of slight depreciation in the Naira early next year (and more noticeable depreciation in the second half) suggests much more pressure on inflation over the year. While the direction of the border closure is yet to be determined, we believe it will be resolved earlier in the year and assume muted impact post Q1 inflation numbers. Accordingly,  we estimate expansion in the average inflation rate in 2020 to settle at 14.1% on our base case.

Figure 2: Forecast 2020 inflation trend

Source: NBS, NOVA Research

Our broad expectation of an uptick in inflation over 2020, could inform a change in the direction of monetary policy. While economic growth has been the anchor for monetary policy over 2019,  (which was supported by the softened inflationary trend and FX stability), we believe further depletion in the FX reserve (down $4.4 billion in 2019 to $38.1 billion) and expected uptick in inflation guides to upward adjustment in the monetary policy rate in 2020. However, before a  change in the MPR rate, we do not rule out some form of administrative measures to limit the rate of FX depletion. In our view, we believe the apex bank will adjust the NTB primary market rate upward to attract FPI flows. In all and from a portfolio allocation standpoint, we believe a  tactical medium-term position in treasury assets will accumulate mark-to-market gains going into  2020.

NOVA Merchant Bank Limited (NOVAMBL)

NOVA Merchant Bank Appointed by the Nigeria Customs Service as a Duty Collecting Bank

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NOVA Merchant Bank Appointed by the Nigeria Customs Service as a Duty Collecting Bank

In fulfilment of its commitment to constantly find new ways to serve its customers better, NOVA Merchant Bank has been appointed as a designated collecting bank for Import, Excise and other duties by the Nigeria Customs Service. This will enable the Bank to handle duty payments for its clients in addition to processing and issue custom bonds along with guarantees on their behalf.

According to the MD/CEO, Mr. Anya Duroha, “We are excited about this appointment because it would enhance efficiency and improve turnaround time for duty payments and other services offered by the Nigerian Customs Service for our clients”.

“This development is in line with the commitment of the Bank to be a one-stop solution shop for all trade and financial needs of its clients. The Bank is positioned to provide end to end quality banking services to our clients. I commend the management for obtaining and delivering on this mandate within a short period of time” stated the Chairman, Mr Phillips Oduoza.

NOVA Merchant Bank offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking.

Make your move with the new Mercedes-Benz V-Class (Photos)

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Make your move with the new Mercedes-Benz V-Class (Photos)

The V-Class is the Mercedes among MPVs. Since its introduction, the Mercedes-Benz V-Class has gone on to revolutionize the multi-purpose vehicle (MPV) segment with its high-class appeal, comfort, efficient driving pleasure and safety; it caters to a growing customer group who are in need of a generous amount of space but never wanted to drive an MPV because style, a sense of well-being and ride comfort have been lacking. Weststar Associates Limited, Authorized General Distributor of Mercedes-Benz in Nigeria is offering the all-new facelift V-Class especially for the comfort of all travels.

Die neue Mercedes-Benz V-Klasse – Exterieur, Ausstattungslinie EXCLUSIVE, Selenitgrau metallic
The new Mercedes-Benz V-Class – Exterior, Design and equipment line EXCLUSIVE, Selenit grey metallic

The V-Class easily makes for a saloon for up to 8 people. The philosophy around the design is a combination of functionality, comfort, and style in a way no other vehicle in this segment can offer. The exterior is striking with an emotional and dynamic appearance, while the interior comes in a modern style and with the high-class appeal, putting great emphasis on comfort. Other highlights in the V-Class include Mercedes-Benz intelligent drive, highly efficient engines and more personalized driving systems.

Die neue Mercedes-Benz V-Klasse – Exterieur, Ausstattungslinie EXCLUSIVE, Selenitgrau metallic
The new Mercedes-Benz V-Class – Exterior, Design and equipment line EXCLUSIVE, Selenit grey metallic

The exterior of the V-Class has a broader appearance and an even stronger visual presence thanks to its new front end. This comes courtesy of a new bumper design with striking cooling air inlets and a new diamond structure in the radiator grille. The Mercedes star is positioned centrally in the radiator grille and framed by two slats in silver. The V-Class is the first vehicle in the segment which provides all light functions in LED technology as an optional feature. The all-LED headlamps with Intelligent Light System make for a visual highlight as it also enhances safety. The LED headlamps come with 34 LEDs in each headlamp that give the vehicle an unmistakable appearance, and compared with conventional systems, offer a much-improved vision in the dark.

Die neue Mercedes-Benz V-Klasse – Interieur, Ausstattungslinie EXCLUSIVE, Leder Nappa Tartufo, Zierelement in Doppelstreifen-Optik
The new Mercedes-Benz V-Class – Interior, Design and equipment line EXCLUSIVE, Tartufo Nappa leather, Trim element in twin-strip look

There are four new light-alloy wheel designs which present an even more striking appearance; they include 5-twin-spoke 17-inch, 18-inch and 19-inch light-alloy wheels. Another highlight of the exterior is the separately opening rear windscreen and second loading level, which is attached to the upper level of the tailgate. It can be opened and closed independently of the tailgate, which makes loading and unloading easier in two respects – on the one hand, it allows a second loading level; while also particularly in tight parking spaces there is no need to open the large tailgate.

Die neue Mercedes-Benz V-Klasse – Interieur, Ausstattungslinie EXCLUSIVE, Leder Nappa Tartufo, Zierelement in Doppelstreifen-Optik
The new Mercedes-Benz V-Class – Interior, Design and equipment line EXCLUSIVE, Tartufo Nappa leather, Trim element in twin-strip look

The interior redefines the meaning of spaciousness in an MPV. Following the trend of modernity and clarity, the V-Class presents itself with new air vents in a sportier turbine look as well as new dials in the instrument cluster. The new upholstery and equipment colour Tartufo Nappa leather make a modern and elegant statement with a total of six different upholsteries in light and dark colours to choose from. Modern and elegant can also be used to describe the new trim element in twin-stripe look which is used on the instrument panel and side panelling. The trim elements in the piano lacquer, ebony wood, carbon fibre and brushed aluminium looks remain. The seating in the rear allows numerous configurations to meet any requirements. As standard, the MPV is equipped with four individual luxury seats with armrests in two seat rows. Thanks to improved technology and operating logic, they can be folded forward intuitively to afford fast and easy access to the rear. An optional folding table can be installed between the individual seats in the first row.

Other highlights include the free-standing central display, the multifunction steering wheel with 12 function keys and DIRECT SELECT selector lever (plus steering-wheel shift paddles with automatic transmission) as well as the innovative touchpad, which allows all telematics functions with gestures or by entering letters and characters like on a smartphone. The touchpad is available in conjunction with Audio 20 CD or COMAND Online. The latest generation of COMAND Online combines all audio, telephone and navigation functions.

With agile performance and high efficiency, the V-Class engine with 7G-TRONIC PLUS automatic transmission impresses with its superior handling characteristics and low fuel consumption. For the Nigerian market, the V-Class comes in a vertical in-line 4-cylinder petrol engine with 211hp with an output of 155kW and a peak torque of 350nm – delivering plenty of driving enjoyment, thanks to the new innovations in the engine.

A total of eleven innovative driver assistance systems ensure a high level of driving comfort and an exemplary level of safety. They are based on modern radar, camera and ultrasound sensors, which were introduced in the E-Class and S-Class under the name “Mercedes-Benz Intelligent Drive”. The standard equipment includes Crosswind Assist, which stabilizes the V-Class in strong gusts of crosswind, and ATTENTION ASSIST, which can warn of inattention and fatigue. Also available is Active Park Assist, which makes parking the new MPV as easy and convenient as parking a compact car.

Speaking on the arrival of the new V-Class, Mr. Mirko Plath, CEO, Weststar Associates Limited commented; “The Mercedes-Benz V-Class has definitely become a star in the MPV segment with luxury and comfort playing a key part. More Nigerians have chosen the V-Class over its competitors and with a handful of innovation in the facelift, we expect even more orders for the V-Class in 2020.”

Whether you’re off on a business trip or travelling with the whole family, the V-Class provides optimum flexibility when it comes to comfort levels of the interior and it cuts an elegant figure at the same time. The emphasis on comfort and style doesn’t just give you a luxury Mercedes as an MPV, but also a functional vehicle that looks to accommodate more. As we gear up for business in the new year, the V-Class is the ideal vehicle for those looking for luxury and comfort.

GTI Stock Recommendations For The Week (20/01/2020 – 24/01/2020)

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GTI Stock Recommendations For The Week (20/01/2020 – 24/01/2020)

Market Review for the week ended January 17th, 2020

Last week, the Nigerian equity market experienced profit-taking in the early days before rallying to close strong in the last two trading sessions. This was as some investors’ exited position in some major bellwethers.

In summary, the All-Share Index (ASI) gained 203.13 absolute points, representing a 0.69% growth to close at 29,618.52 points. Similarly, the Market Capitalization gained ₦81.76 billion, representing a 0.54%  increase to close at ₦15.26 trillion following the voluntary delisting of 10.37 billion ordinary shares of  Continental Reinsurance Plc from the daily official list of the NSE, after the conclusion of the acquisition of CRe  Nigeria by CRe Africa Investment Ltd.

Top performing stocks for last week were: FO (+21.89%), MTNN (+9.14%), GUARANTY (+4.85%), UBA  (+4.76%), UACN (+4.39%), WAPCO (+2.60%), FLOURMILL (+2.17%), ZENITHBANK (+2.06%), DANGCEM (+1.74%) and WEMABANK (+1.04%).

Outlook for the week ending January 24, 2020

We expect to witness a see-saw performance this week as investors with short term objectives take profit on a number of stocks that have seen significant price appreciation in the last three weeks. Nonetheless, we expect the market to end the week on a positive note as portfolio investors continue to cherry-pick in the equity market owing to the declining yields in the money market.

Guaranty Trust Bank Plc

  • Guaranty Trust Bank Plc remains one of the most reputable tier-I banks in Nigeria, with deposit size of over ₦2.50 trillion as at Q3’ 2019. The Bank also has an Asset Base of over ₦3.52 trillion (given Q3’19 result) in Nigeria, 8 other  African countries and the United Kingdom.
  • In its recent 9M 2019 results, the bank grew its Net Interest Income and Profit  After Tax (PAT) by 1% and 3% to ₦172.9bn and ₦147.0bn respectively compared to 9M 2018.
  • Besides, the bank has a Non-Performing Loan ratio of 5.6% (as of Q3’2019), which is one of the lowest in the Nigeria Banking Industry.
  • The bank boast of a strong Return on Equity (RoE) of 23.08% compared to the industry average of 15.8%, and a current ratio of 1.22:1.
  • Our target price for GUARANTY is ₦ 40.00, representing a premium of 19.40%  returns over the closing price of ₦33.50 as at Friday, 17th January 2020.

Chemical and Allied Products

  • Chemical and Allied Products (CAP) Plc, a subsidiary of UAC of Nigeria Plc (UACN), manufactures and distributes paints, personal and household products,  crop protection and public health products. The company also provides decoration and renovation services.
  • According to its recent 9M 2019 earnings result, the company grew its Revenue and Net Income by 7.2% and 0.2% to ₦5.78bn and ₦1.23bn respectively compared to the same period of 2018.
  • Though its 9M 2019 EPS of ₦1.75 is the same as that of the corresponding period of 2018, CAP plc is known to be a regular dividend-paying stock with dividend yield (11.60% as at 2018) higher than the current returns on 1-year  money market instrument.
  • Our target price for CAP plc is ₦30.20, representing a premium of 20.80%  return over the closing price of ₦25.00 as at Friday, 17th January 2020.

Dangote Sugar plc

  • Dangote Sugar plc, a subsidiary of the  Dangote group is the largest sugar refinery in Sub-Saharan Africa with an installed capacity of 1.44MT per annum.
  • In order to expand its production capacity to 1.5MT in the next 5-10 years while halting sugar cane importation, the firm under its backward integration drive has continued to pump investment into local sugar plantation spanning over 150,000 hectares of land.
  • In its recent 9M 2019 financial statements, Dangote Sugar grew its revenue by a modest 0.60% (to ₦117.42bn) compared to the corresponding period of  2018 but saw a 12% decline in PAT due largely to a 72% decline in Investment  Income (owing to lower yields environment in 2019 compared to 2018).
  • Nevertheless, we anticipate improved performance for the company, going forward, given the recent moves by the Federal government to root out smuggling of goods (including, sugar) into Nigeria – a major factor that has remained the bane of the company from reaching its full potential.
  • Our target price for DangSugar is ₦21.80, which represents an upside potential of 48.81% given last Friday’s price of ₦14.65.

Nigerian Breweries Plc

  • Nigeria Breweries (NB) is the market leader of the brewing industry in Nigeria with about 59% market share as of Q3 2019.
  • Despite threats of increasing competition, high-cost operating environment, and weak consumer purchasing power, NB has continued to sustain a positive growth performance through a strategic partnership with several ancillary industries which provides it with cost-effective raw and packaging materials for its production processes.
  • NB has varieties of products brand that can serve the needs of any income class,  and its reliable distribution network across Nigeria and other West African region give it an edge over competitors.
  • According to its Q3 2019 earnings result, NB grew its revenue by 1.93% to ₦259.92bn but saw a 17% decline in PAT to ₦12.28bn owing mainly to the effect of excise duties on its alcoholic products.
  • Despite the impact of this knee-jack development, the current share price of the firm which is just about 2.78x its Book Value signals its current cheap valuation,  given that historically, the share price of the firm average about 4.5x its Book  Value in the last six years.
  • Hence, with the expectation of improvement in consumer purchasing power in the New Year (as minimum wage implementation gained traction across states),  there is a high likelihood for the earnings and price of the firm’s share to see reasonable improvement.
  • Our target price for NB is ₦85.00, representing an upside potential of 66.34%  from the current price of ₦51.10.

Wema Bank Plc

  • Wema Bank Plc remains one of the most popular tier-II lenders in Nigeria with an operating network of over 150 business offices across the country.
  • The bank operates with an asset of ₦611.58bn and customers deposit of ₦478.50bn as at 9M 2019.
  • In its recent 9M 2019 financial report, the bank grew both its Gross Earnings and Net-Income by 32.3% and 54.6% to ₦64.8bn and ₦4.1bn respectively,  compared to the corresponding period of 2018. Also, the bank in 9M 2019,  grew in its Earnings per Share (EPS) by 56% to ₦0.14 as against ₦0.09 in 9M  2018.
  • It has a Book Value of 1.39x which is more than twice its current market price.
  • Our target price for WEMABANK is ₦N1.00, representing a premium of  38.89% returns over the closing market price of ₦0.72 as at Friday, January  17th, 2020.

Top 5 Investments to consider in 2020

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Top 5 Investments to consider in 2020

Few weeks into the new decade and you are already backtracking from our new year resolutions? Come on now, its waaay too early! Making resolutions and decisions always seem easy, following up with actions is always the hard part. With the new year finally upon us, you may be aching to make some significant changes in your life. Maybe you want to start exercising more often, take better charge of your finances and taking better care of your health or perhaps you want to spend more quality time with your family.

And maybe, just maybe, you’re starting to feel like 2020 is the year you should finally start investing your money for long-term growth. You may have saved up a respectable sum of money in a high-interest savings account, but you know that saving cash isn’t enough and that money needs to reap in some more cash for you. The probing question is, where should you invest your money? This question bugs beginners just as much as it does pros.

According to Raj Sharma, a private wealth adviser who has been on Barron’s list of America’s Top Financial Advisors for 16 straight years through to 2019 and can also be found on Forbes’s 2019 Top 100 U.S. Wealth Advisors.

Read Also: Invest for dummies

“The emerging consumer market is a very durable investment theme,” Sharma also notes that the developed world’s population is shrinking and getting older, but emerging markets like India and Africa hold huge opportunities given the vast numbers of younger people. It is worthy to note that Nigeria has over 200 million people and 55% of the nation’s population is under 35 years old. Investors can do well in this market by figuring out what those consumers need and how to improve their lifestyle with those needs. Although no investment is a guaranteed yardstick to successful returns, here are 5 of the best investment options for 2020.

Read Also: Stay winning in 2020

1. PAYING OFF DEBTS

Let’s start by reiterating the popular saying, Health is wealth. You don’t sleep well when you have huge debts on your mind when you don’t sleep you are causing health complications for yourself. Like it or not, staying debt free is the best investment you can do for you in 2020.

Don’t forget that your wealth is determined by your assets and your liabilities. So, invest all you want, but don’t forget how your debts may be dragging you down. If you have some debts from 2019 on your books, it’s crucial to create a plan to squash those balances this year — or at least as soon as you can. Unfortunately, this isn’t always a simple feat when you consider the interests steadily pilling on your debts daily.

By paying off debt, you have increased your creditworthiness and helped put more money in your pocket now and later. Plus, there are additional benefits that come with paying down debt. Paying off debt can reduce your utilization and improve your credit score as a result. A better credit score can help you secure loans with the best rates and terms, which can save you money the next time you take out a loan for a home or a business project.

2. REAL ESTATE

In this part of the world, Housing Prices continue to go up and up with no end in sight. Fortunately for investors, this is a fertile industry to cash in on.  With the expected Compound Annual Growth Rate (CAGR) in the real estate sector put at 13.65 percent from 2019 to 2022, experts have advised housing professionals to take advantage of the 2020 budget to reduce housing deficit in the country. Out of the N2.14 trillion proposed capital expenditure for the 2020 budget, works and housing have the highest capital allocation of 12 percent. The federal government national housing and social housing scheme (Family homes fund) will gulp an estimated N17.5 billion and N30 billion respectively.

Despite the challenges of poor access to loan facilities, difficulty in obtaining property titles and high cost of building houses in Nigeria, analysts explained that Nigeria will continue to have strong fundamentals in the real estate industry. They urged professionals, especially estate surveyors and valuers to take advantage of the opportunities. Real Estate has the tendency to grow astronomically over a short period and there is no better news to an investor than that.

Read Also: Easy steps on how to make financial progress in 2020

3. AGENCY BANKING

Agency Banking refers to a type of branchless banking, which comes with the benefits of risk management, product availability, improving financial inclusion and ensuring a wider customer base. It is a method for traditional banks to extend the network of their branches in a cost-effective way, via authorized agents in the rural populations. FinTech and Telcos have also keyed into the Agency Banking rave, with companies like Cellulant running their agency banking operations via their multi payments super app, Tingg.

Tingg supports various types of Agency Banking transactions, such as voucher-less prepaid top-up, top-up prepaid voucher sale, loan repayments, account balance queries, merchant’s services, cash withdrawals, cash deposits, transfers and bill payments of various types, such as fines, taxes, government fees, utility bills and more.

Tingg has been able to empower agents and the underserved population. Tingg agents can provide digital financial services via the Tingg app to the general masses. When structured and executed properly, agency banking helps businesses scale to a larger level, gives people easier access to digital services and provides a source of income for agents and investors.

4. PEER 2 PEER LENDING

Another place to invest your excess funds this year is one that has been around for a while — peer-to-peer lending. Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. Some Lending platforms allow you to loan money to individuals as a bank does, and you get to receive the interest they pay in. While returns can vary depending on how risky the loans you choose to fund are, they can be upward of 6% or more. If you’re worried about loaning money to one person and having them ghost you, don’t be.

These Lending clubs allow you to spread your investment over hundreds or even thousands of loans in increments as small as NGN20,000.

5. STOCKS

If you’ve been considering investing in the stock market for a while, but haven’t yet opened an account and started contributing, make 2020 the year you turn intentions into dollars. Stocks can be very dicey and unpredictable which has led many to either opt-out or just view from a distance waiting on the perfect time to cash in. Although For many, it comes down to fear. There are so many choices today. It’s overwhelming for people, when you have too many choices and there are too many options, you end up just getting paralyzed and doing nothing.

But experts say even if the stock market conditions aren’t perfect, it’s worth investing, be it in a retirement account or a taxable brokerage account. Don’t waste time trying to get into the market at the perfect time.

If you don’t feel comfortable buying individual stocks, consider investing in globally diversified, low-cost index funds. If you need some help and guidance along the way, you can also use the services of a robo-advisor.

Read Also: Cellulant Inaugural Partners summit and Gala Night

Patience is an important lesson to learn for young investors. Everyone wants to see quick results, we’ve been programmed to expect big returns from our investments, and if we don’t get them, then we’re disappointed. A lot of people lose confidence because they don’t get the returns as quickly and bountifully as hoped. Building wealth takes time, Aliko Dangote once said, A lot of people want to be like me, but they forget it took me almost 30 years to become Africa’s richest man. Success takes time.

If you happen to get maximum returns from your investments, don’t forget to reinvest the returns you do get. Reinvestment is one of the keys to growing your finances over time.

Mouka Re-strategizes in War against Malaria; Rewards Customers with Insecticide-treated Net on Purchase of Comfy Mattress

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Mouka Re-strategizes in War against Malaria; Rewards Customers with Insecticide-treated Net on Purchase of Comfy Mattress

In a renewed effort to fight malaria, Mouka, the leading mattress manufacturing company in Nigeria is set to give insecticide-treated nets to customers on every single purchase of selected sizes of its Comfy mattresses.

This was disclosed at the weekend by the company’s Head of marketing, Tolu Olanipekun.

According to her, the effort is a measure geared towards checking malaria in a country with a record of 100 million malaria cases and over 300,000 deaths annually.

“In line with the essence of the brand; adding comfort to life, Mouka seeks to provide protection for its consumers who are most vulnerable to malaria. Consumers will receive free insecticide-treated nets when they purchase selected sizes of Comfy which is one of our most affordable mattress propositions”, Olanipekun said. 

According to Malaria Fact Sheet, Malaria is a major public health problem in Nigeria where it accounts for more cases and deaths than any other country in the world.

The gesture also signals a promo aimed at securing quite a rewarding market share for the Mouka Comfy brand which is targeted at those seeking a low cost yet good quality mattress.

Funke Felix-Adejumo Foundation (FFAF) celebrates womanhood at the annual Women on the Winning Edge

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Funke Felix-Adejumo Foundation (FFAF) celebrates womanhood at the annual Women on the Winning Edge

Reverend Funke Felix- Adejumo Foundation today celebrated womanhood at the 4th edition of Women on the Winning Edge at the Tafawa Balewa Square (TBS) Lagos Nigeria.

Women on the Winning Edge is a female development initiative organized to help women reach their potential.

L-R: Kim Pothier, American preacher and Host real talk with Kim; Funke Felix Adejumo, founder/convener, FFA Foundation; Pastor Wole Oladiyun, Senior Pastor, CLAM; Bishop Felix Adejumo, Senior Pastor, Agape Ministry; and former 1st lady Lagos State Dame Abimbola Fashola. www.brandspurng.com

This annual 2-day event, led by Rev. Mrs.  Funke Felix- Adejumo had exceptional speakers address a wide range of female-focused issues over two days. The first lady of Ekiti State, Erelu Bisi Fayemi, American female advocate and preacher Kimberly Jones-Pothier, the former first lady of Lagos state Dame Abimbola Fashola, Pastor Wole Oladiyun senior Pastor CLAM, and many others were in attendance to both pray and encourage women to be their best selves whilst supporting each other.

This year’s conference has delegates from Australia, Canada, the United Kingdom Cameroon, Tanzania and Sierra Leone in attendance.

Funke Felix Adejumo Foundation is a developmental agency set up to help women fulfill their purpose as mothers, wives, careerists, friends and nation builders.

Speaking at the programme the convener, Reverend Mrs.  Felix-Adejumo said: ‘The project is a non-denominational gathering focused on women who come together to share real-life issues and speak on the development of our general wellbeing”; “The role of a woman as a nation builder cannot be overemphasized,” therefore ensuring that a woman is balanced, spirit, soul and body helps set the tone for a better Nigeria”.

The conference which is one of the signature events of the FFA Foundation, along with the Mother’s Summit, Karis Hospital, Grace Orphanage Projects and “The Woman” Programme.

The FFAF foundation is a development agency founded by Rev Mrs. Felix-Adejumo to empower women to improve humanity. Rev. Mrs. Adejumo herself is a female enthusiast, with many women developmental projects. A Bible teacher, conference speaker, her principal objective for setting up the foundation is to bless and empower women.

Please contact info@funkefelixadejumo.org for further information.

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