HENATES

As coming Monday, September 11, 2017, all certificates for capital importation (CCI) into Nigeria will be processed electronically thus replacing the manual certificates with e-certificates. According to a notice to all authorised dealers and the general public dated yesterday September 7 but posted on its website today September 8, the Central Bank Of Nigeria has introduced a platform for this purpose and everything can now be done on line. The notice was signed by W. D. Gotring, Director, Trade and Exchange saying "accordingly the eCCI shall replace the hard copy CCI normally issued in respect of all capital inflows either in form of cash or machinery/equipment" "Consequently" it added "effective from Monday 11, September  2017 the processing of CCI in Nigeria shall only be done electronically on the eCCI platform" The CCI is normally issued to cover all capital inflows into Nigeria to make it easier to repartriate dividends; repayment principals...

KENYA: ARM CEMENT TO OFFLOAD SUBSIDIARIES Kenya's ARM Cement is soon to offload its non-cement subsidiaries in good to focus more on its core business of cement production and marketing. According to formal notice sent to the Nairobi securities exchange, the quoted company has signed an agreement to sell its 100% interest in Mavuno Fertilizer Ltd and through it, in ARM Minerals and chemicals Ltd and ARM Energy Ltd to Omya (Schweiz) AG of Germany and Pinner Heights ltd of Mauritius. The agreement is still subject to shareholders approval and statutory nod from the Capital Market Authority of Kenya. Before it comes into effect too, ARM will have to transfer its different non cement business to Mavonu, ARM Minerals and ARM Energy. NIGERIA: OANDO TO HOLD AGM ON SCHEDULE  Oando PLC has been given full go ahead for its annual general meeting scheduled for next Monday, September 11,2017. According to a notice from the company, this followed the withdrawal of Securities and Exchange Commis...

Guinness Nigeria still basking in the glow of ite full year figures to June and heavy weight Dangote cement on Thursday September 7 2017 drove the All shares index of the Nigerian stock exchange to 36116, up a rare 1.56% in more than a week. Dangote cement after closing with 3rd highest Naira gain on Wednesday, rose by leading N9.79  or 4.73% on Thursday to close at N216.91 per share. It had closed at N207.12 on Wednesday, then opened Thursday at the price with which it ended the day. It also recorded 39 deals for 0.06m units worth N13.03m. In view of this and in spite of fellow premium equities closing marginally down, the premium index rose by 3.5% to 2364.95. On the other hand, Guinness Nigeria closed at N87.39 per share on Wednesday, opened Thursday at N91.75 then hit new day high of N96.33 per share to close up by N8.94 per share or leading 10.23%. It also recorded the 5th highest deals for the day as 1.445m shares changed hands in 234 deals worth N135.22m...

Relative bullish mood continued today Thursday, September 7, at the Nairobi securities exchange despite grey areas still visible in the political scene of Kenya It closed the day at 164.0, up 1.73 points or 1.07%  as 17 price gains  overwhelmed 11 price drops both in number and spread. Top price gain was by I&M Holdings up Kes 3 per share  as it opened and closed at Kes 123 compared to Kes 120 yesterday. I &M actually also led banking sector to close the most active in terms of Kes gains  In all, 8 out of the 11 quoted equities in this sector closed up and indeed the first 4 Kes gains were banks. Trailing I&M was NIC Bank up Kes 2 per share. It hit day high of Kes 41 but closed lower at Kes 40.75 per share. This however was still an increase on yesterday's Kes 38.75 close. The two other price gains above Kes 1 per share were recorded by HF Group, also in banking, up Kes 1.25 to Kes 11.65 per share and Standard Chartered bank which at ...

At the Nigerian stock exchange today September 6, 2017, the All shares index finally made a u turn to close up by 0.58% to 35,609.07 after daily drops since last week. The u turn was driven not unexpectedly by price gains in the premium board resulting in 1.31% rise in premium index to 2284.99 and amongst oil and gas equities leading to 1.32% increase in oil and gas index to 293.81. Consumer goods index, up by 0.78% to 951.49 also aided as much this growth rate was ahead of ASI growth. There 21 price gains and 23 drops with the gain spread being more the decisive factor. That and gains by equities with high market capitalisation  Seplat Petroleum led Naira gains with N16.02 or 3.44% per share. Incidentally that was regain of part the leading N24.52 drop it recorded yesterday. Seplat closed Yesterday at N465.08 per share and opened today at N482 per share and closed firm there without any other change. It also witnessed just 3 deals for 0.202m shares worth N97.7m. Its lead gain in Naira...

For the second day after the panic post election cancellation, today Sept 6 2017 the Nairobi securities exchange sustained positive outlook although the All shares index rose only marginally by 0.37 points or 0.23% to 162.27. There were 18 price gains and 14 drops with margin of gains being on the higher side.  Top gain was in Jubilee Holdings which closed at Kes 479 per share, up Kes 19 on yesterday's close. It had in fact hit a day high of Kes 480 per share before easing down kes 1. Indeed brokers seemed to be more positive about the insurance sector's prospects as 4 gains and one drop were recorded, with Jubilee Holdings pacing both market and sector gains  Trailing Jubilee in terms of Kes gains was Kakuzi in the Agricultural sector. Kakuzi hit day high of Kes 325 and low of Kes 319 per share before closing at Kes 324, up Kes 9 on Kes 315 by Tuesday close  Other major gainers were East African Breweries (EAB) up Kes 3 per share; and Stanbic Holdings with Kes 2 gain at Kes 80...

Today September 5, 2017 after the long sallah holidays, the Nigerian srock exchange resumed trading with  Sterling Bank closing with  a record 1164 deals for just 11.277m units  worth N11.53m. Scramble for Sterling bank had been a constant feature at the market but this time, it crossed the 1000 mark for deals recorded in one day. The closest to this was on July 6 when 12.12m units were sold in day high 789 deals. On June 14 this year it also topped number of deals with 719 deals involving 15.588m shares and also  on the 24th of May when it recorded 569 deals for 13.8m shares. Indeed, in view of rather consistent scramble, it topped deals on July 11, with 588 deals for 10.22m shares; on June 19 with 503 deals for 10.235m units; on July 7, with 365 deals for 15.26m shares and on July 19, with 311 deals involving 10.36m shares. The lowest number of deals it had recorded in recent months each time a sale occurred was on July 27, this year when only 50 deals were...