Covid19 North America 

Despite enormous deficit, Canada will pay less interest on debt this year than last

Here’s the bittersweet news about carrying a massive deficit during a pandemic: it’s cheaper to carry an enormous debt load in today’s economy than it was to carry a tiny debt load just a year ago. it’s about $4 billion cheaper. When federal Finance Minister Bill Morneau rolls out his fiscal “snapshot” early this afternoon to show how much the pandemic is costing us and how we will pay for it, much of the emphasis will be on why the federal government feels comfortable borrowing hundreds of billions of dollars…

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Financial Services StockMarket 

Why Nigeria’s banking stocks performed well in May

Virtually all the banks listed on the Nigerian Stock Exchange (NSE) witnessed varying degrees of growth in their share price during the month of May. Besides Union Bank of Nigeria Plc which declined by 0.7% and Aso Savings and Loans Plc which recorded no price movement, all the other banking stocks recorded increases according to checks by Nairametrics Research. Best banking stocks in May The best-performing banking stock for the month was Jaiz Bank Plc. The share price increased by 27.3% to N0.70, up from N0.55 in April. This is…

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Financial Services Fintech 

Digital banking, key to realising financial inclusion targets

As digital innovation positions as the future of payments, opportunities abound for organisations and financial institutions to solve some of the world’s biggest challenges and enhance large-scale productivity. Indeed, digital banking in Nigeria has evolved significantly to become an integral part of our daily activities, driving financial inclusion, e-commerce, utilities and effective daily solutions. For innovations around digital banking, these are being powered Fintech firms, and as traditional banks stand on the sidelines, Fintechs (most of which are strictly neobanks) began to swiftly launch investments and savings products that appealed to everyone.…

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StockMarket 

Airtel Africa Sells 2.2bn Shares in Malawi IPO

Airtel Africa Plc on Friday announced it sold a total share of 2,200,000,000 during its Initial Public Offer (IPO) in Malawi. The telecommunication giant with operations in 14 African nations said the total sold shares represented 20 per cent of the company’s outstanding shares. While each share was sold at MK 12.69 (USD 0.02), the company raised MK27.92 billion (USD 37.5 million). In a statement signed by the Group Company Secretary, Simon O’Hara, and released through the Nigerian Stock Exchange (NSE), the telecom giant said: “All ordinary shares offered in…

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StockMarket 

Tanzania: DSE Up As Foreign Investors Snap Up Tanzania Breweries Shares

Foreign investors made a comeback at the equity market on Tuesday this week after injecting Sh1.2 billion in shares for Tanzania Breweries Limited (TBL). The beer maker transacted 153,169 shares at a pre-arranged market board at Sh8,000 per share in three deals, market data show. This largely contributed to the rise of the bourse’s total turnover, which reached Sh1.23 billion on Tuesday from 231,068 shares that were traded in 12 deals. This was higher than the Sh5.56 million that was registered during the previous day. Foreign purchase contributed 99.21 percent…

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