Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
FBN Holdings has gone from being one of the best-performing stocks to being one of the worst-performing equities in the space of two weeks.
Last week Monday, the company’s share price hit a peak of N22.3 kobo, but at the end of the same week, FBN Holdings’ share fell to N15.8 kobo on Friday.
The drop resulted in a loss of N161.52 billion in shareholders’ total investments, dragging the market valuation of FBN Holdings to N567.14 billion, from N728.67 billion.
This shows that investors are snubbing the company’s shares amid uncertainty about the leadership and operational direction of FBN Holdings since Oba Otudeko acquired a 13.3 per cent stake in the financial institution.
With FBN Holdings in the bears’ territory, investors are advised to trade with caution, as the sell-off wiping the gains from shareholders’ investment could extend into this week, however, the decline also opens the door to buy the dip.
Wema Bank has resumed the use of the naira card for international transactions after the company and other financial institutions suspended the usage.
In an email to account holders on Friday, Wema Bank said customers can now use their naira cards for international transactions up to $500 per month.
With other deposit money banks like GTBank yet to resume international transactions on their naira cards, Wema Bank’s decision to lift its suspension could sway more customers to the company.
Consequently, this could increase the firm’s account holders’ deposits and positively impact its balance sheet, and in the long run, dividend payout to shareholders.
Last week, Access Holdings announced that its subsidiary, Access Bank, has completed the acquisition of Finibanco Angola from Montepio Holding SGPS S.A.
It also disclosed that Access Bank has entered into an agreement with Standard Chartered to acquire its subsidiaries in Angola, Cameroon, Gambia and Sierra Leone.
Also, the firm is close to acquiring African Banking Corporation (Tanzania) Limited, as it awaits regulatory approvals. Access Bank has already acquired two other banks outside Nigeria.
This series of acquisitions and agreements to acquire deposit money banks in Southern Africa through Access Bank will expand Access Holdings and Access Bank’s operations and customer base across the continent.
With the bank rated as the largest bank in Africa by customer base, its turnover will be positively impacted by the series of acquisitions, strengthening Access Holdings’ financial ability to grow shareholders’ funds in the long term.
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