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Daily Business News Brief – July 7th, 2023

7
Jul

Nigeria’s N33 trillion stock market undervalued, trading at discount – Guardian
Despite its total equity market capitalisation of over N33 trillion and N5 trillion gain recorded in the first half of the year, analysts said the market is undervalued and currently trading at a discount.
Although the market rallied recently, analysts at Codros Securities, in its 2023 Review and Outlook of the Financial Market believed that NGX ASI, which trades at a P/E multiple of 11x currently, represents a 7.4 per cent discount to its 10-year average of 11.8x, and a 17.6 per cent discount to frontier market peers – MSCI FM (13.3x)… . ……………… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More

As Zenith Bank Crosses N1tn in Market Capitalisation -Thisday
Following investors’ renewed interest amid the Central Bank of Nigeria’s (CBN) foreign exchange reform,  Zenith Bank Plc’s market capitalisation crossed the N1 trillion mark on the Nigerian Exchange Limited (NGX).
The development, which attracted applause from investors and market participants, was clearly a reflection of the quality of leadership at the bank which is headed by Ebenezer Onyeagwu as its Group Managing Director….. .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

International Breweries Reiterates Commitment to Delivering Value, Innovation – Thisday
The management of International Breweries Plc (IBPLC) has reiterated its commitment to deliver value to shareholders and drive innovation and contribute positively to the communities in which it operates.
This was stated by Managing Director, International Breweries, Carlos Coutino, at the company’s Annual General Meeting (AGM) held recently in Lagos…….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Sterling Bank Launches Tech-Based Solutions For Education Sector – Dailytrust
Sterling Bank has launched Edubanc – an innovative tech-based solution to provide banking and social services for stakeholders in the education sector.
The solution aims to improve current learning outcomes and business growth for students, parents, and providers of educational services…….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Stanbic IBTC announces new appointments to HoldCo – Guardian
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced various board appointments across the Group.
The appointments are a reflection of the Group’s commitment to strengthening its leadership teams and driving continued growth and innovation in the financial services sector……… .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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