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Daily Business News Brief – July 3rd, 2024

3
Jul

Industrial goods upturn 2023 poor performance, record 73% gain in H1 – Guardian
Contrary to the paltry 12 per cent return on investment recorded by the industrial goods segment of the Nigerian Exchange Limited (NGX) last year, the sector has outperformed other segments to gain 73.14 per cent in the first half (H1), 2024.
Precisely at the end of the first half, the sector. .. .. ………………………………………………………………………………………………………………………………………….. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
SEC urges capital market operators to embrace green bonds – Punch
The Director General of the Securities and Exchange Commission, Emomotimi Agama, has urged capital market operators to embrace green bonds and exchange-traded funds as pivotal instruments for fostering growth and sustainability in Nigeria’s capital market.
He said this in a statement issued by the SEC on Tuesday, indicating that these financial. …   . ….. ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
GTCO Rated Nigeria’s Strongest Brand, Best Banking Trademark – Thisday
Africa’s leading financial services institution, Guaranty Trust Holding Company Plc (“GTCO” or “the Group”), has added to its impressive haul of accolades as it was recently named Nigeria’s strongest brand and Best Banking Brand in Nigeria by Brand Finance and Global Brands Magazine, respectively. These awards not only reaffirm GTCO’s position as a leading  .,… …………………….. . … .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Access Holdings begins N351bn capital raise July 8 – Punch
Access Holdings Plc will open its 17,772,612,811 ordinary share rights issue to existing shareholders on Monday, July 8, 2024.
Speaking at the signing ceremony for the Rights Issue, which was held at the corporate head office of Access Holdings in Lagos on Tuesday, the Group  Managing Director of the holdco, Mrs Bolaji Agbeje, stated that the rights issue would create real…………. …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Consolidated Hallmark Insurance Announces 589% Growth in Profit – Thisday
Consolidated Hallmark Insurance Plc has announced  a Profit After Tax  of N3.7billion for the year ended December 31, 2023 as against N547million  earned in 2022, indicating a 589 per cent growth.
The company equally announced 32 per cent growth in premium generation from N11.9 billion in 2022 to N15.7 billion in 2023…….,.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Neimeth targets N5b turnover this year – Guardian
Neimeth International Pharmaceuticals Plc plans to grow its turnover by more than 127.7 per cent in
the 2024 financial year compared to what it made in 2023.
The company plans to generate sales of N5 billion in the current business year against a turnover of
N2.2 billion achieved in the prior year. From this quantum leap the company hopes to…..,.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
FCMB to expand SME funding with $25m – Punch
First City Monument Bank has embarked on an initiative aimed at expanding its support for small and medium-sized enterprises across Nigeria, following the signing of a $25m agreement with the Dutch Entrepreneurial Development Bank and the European Commission…..,.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
‘Customer-centric Strategy, Success Behind Fidelity Bank’s N127.10bn Offer’ – Thisday
The Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe has hinted that the financial imitation’s customer-centric strategy is the key driver for the success of its ongoing N1277.10billion capital raising exercise
Fidelity Bank on June 20, 2024 commenced its Public Offer of 10,000,000,000 ordinary share……,.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
IMG Grows Profit by 295% in Five Years, Pays N249MDividend – Thisday
As evidence of resilience and continuous innovation despite the headwinds in the Nigerian economy, the total comprehensive income of Industrial & Medical Gases (IMG) Nigeria Plc., has jumped by 295%, from N215.967 million in 2019 to N852. 753 million in 2023…….,.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Shareholders laud CAP on sustained 2023 performance – Guardian
Shareholders of paint manufacturer in Nigeria and West Africa, Chemical and Allied Products Plc (CAP
Plc.) have approved a final dividend of N1.55 kobo per 50 kobo ordinary share, bringing the total
dividend declared for the 2023 financial year to N1.26 billion……..,.. .. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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