By Alex C The huge growth witnessed in the asset value of mutual funds or Collective Investment Scheme (CIS) in Nigeria was driven largely by asset growth in real estate and money market funds. The active collective investment vehicles that are regulated by the Securities and Exchange Commission (SEC) are equity-based fund, money market fund, bond fund, real estate fund, balanced-based fund, ethical fund, umbrella fund, and exchange-traded fund (ETF). While the asset value of these funds grew from N107.45 billion as at January 25, 2013 to N155.642 billion as at January 31, 2014, asset value of money market fund…
Author: Pride Team
By Alex C The Audi Centre in collaboration with Diamond Bank plc has inaugurated flexible credit facility for customers aspiring to buy or own German engineered Audi vehicles at reasonable loan rates. Audi Centre is a subsidiary of Stallion Motors and authorised distributors of Audi range of automobiles in Nigeria. The dealership said the initiative is synonymous with the planned Federal Government vehicle finance scheme aimed at helping prospective buyers source low interest credit financing. Anurag Shah, Audi Centre head of sales and marketing, who gave this hint at the launch of the treaty with Diamond Bank in Lagos, said…
By Alex C Fixed telephone operators in Nigeria have lost over 56 percent of their active lines in the past one year, according to data from the Nigerian Communications Commission (NCC). The crisis engulfing the first national carrier, the Nigerian Telecommunications Limited (NITEL), has contributed immensely to the dearth of fixed-line services in the country. Data from NCC reveal that the active fixed telephone lines in the country were 172,876 lines as of the end of April 2014. In 2013, the number of fixed telephone lines stood at 396,939 lines. This means that within a period of one year, the…
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By Alex C Bharti Airtel is set to will sell over a fifth of its telecom tower portfolio in Africa to Helios Towers Africa (HTA), as part of its overall strategy to sell-off its 15,000 towers to a clutch of independent tower companies. The two companies didn’t disclose the size of the 3,100-tower deal but, in a joint statement Wednesday, said that the proceeds would help Bharti Airtel 0.12 % pare debt. The pact would also reduce the world’s fourth largest telecom company’s ongoing capital expenditure on passive infrastructure and help it focus on its core telecom business and customers.…
By Alex C Series of analyses by financial experts suggest that the largest African markets in 2020 will be Lagos, Cairo, Alexandria, Cape Town and Johannesburg. Each of these markets is projected to have over $25 billion annually in spending and can be comparable to Mumbai or New Delhi in India. A number of smaller African markets, including Ibadan, Kano, Dakar, are also projected to develop consumer markets worth $10 billion annually. The consumer facing sectors in Africa will largely be responsible for this growth, these sectors include the likes of telecommunications, consumer goods and banking. A combined $860 million…
By Alex C Unity Bank has recorded a half-year (January-June) Profit After Tax of N7.10 billion ($43.7 million), a 91.51 percent rise from its 2013 Half Year Profit after tax of N3.70 billion ($22.8 million). This spike in profit is partly thanks to the bank’s shrewd management of costs. Unity Bank’s cost to income ratio fell to 61 percent from 76 percent in the previous Half-Year, with their operating cost dropping by 10.71 percent, now N13.77 billion ($84.8 million) from a previous N15.33 billion ($94.4 million). Ranked ninth in Nigeria’s banking industry on spread (with 238 branches nationwide), Unity Bank…
We all like to believe that love is not tainted by monetary considerations, but the truth is there is an undeniable link between the two – a connection that behavioural economists and psychologists have recently been researching with greater interest. The research Marina Adshade, Professor of Economics at the University of British Columbia, in her provocative work entitled Dirty Money: The Economics of Sex and Love considers how all-romantic behaviour can be understood along economic lines. Based on research she compiled over three years, Adshade shows that we usually behave in our best economic interests, and challenges the common belief…
LAUGH QUOTE “A good man doesn’t just happen. They have to be created by us women. A guy is like a lump, like a doughnut. So first you gotta get rid of all the stuff his mom did to him. And then you gotta get rid of all that macho crap they pick up from beer commercials. And then there’s my personal favourite…the male ego.” – Comedian Roseanne Barr Knock, Knock! Who’s there? Doris! Doris who? Doris locked open it! Wise guy’s answer to stupid question QUESTION. Why did the man put his money in the freezer? WISE GUY: He…