₦airaland Forum

American Express to pay US$75.7m for overbilling

Credit-card giant American Express on Tuesday announced a US$75.7 million settlement to resolve charges that it overbilled consumers and misled customers on services provided....

http://africanfinancialnews.com/+/american-express-to-pay-us757m-for-overbilling

KKR raises first real estate fund

(Reuters) - Private equity firm KKR & Co LP (NYS:KKR) said on Tuesday it had raised a $1.5 billion (916.3 million pounds) real estate fund, its first dedicated investment pool for the asset class, which is rebounding in the United States amid a modest economic recovery. Investors are seeking to capitalize on the growing demand for commercial real estate space as U.S. industries slowly recoup job losses after the recession. Jones Lang LaSalle Inc (NYS:JLL) expects 10 percent growth of global investment volume year-over-year in commercial real estate to $550...

http://africanfinancialnews.com/+/kkr-raises-first-real-estate-fund

GT Bank completes acquisition of 70% stake in Fina Bank Ltd

GTBank has completed the acquisition of a 70% stake in Fina Bank Kenya with subsidiaries in Uganda and Rwanda. On July 18, 2013, GTBank and the shareholders of Fina Bank entered into a Share Sale and Purchase Agreement for the acquisition of 70% stake in Fina Bank. The Agreement was subject to customary regulatory approvals

http://businessdayonline.net/news/gt-bank-completes-acquisition-of-70-stake-in-fina-bank-ltd

AFC underwrites $65m swamp rig acquisition facility

The Africa Finance Corporation has underwritten $65m of a $100m senior secured term loan facility for Depthwize Nigeria Limited for the acquisition and upgrade of swamp rigs. This, according to a statement by the corporation on Monday, is in line with the Nigerian Content legislation of 2010 aimed at domesticating a significant proportion of the

http://businessdayonline.net/news/afc-underwrites-65m-swamp-rig-acquisition-facility

Osun recapitalizes Omoluabi Savings and Loans Ltd. with N1.65bn

The State Government of Osun’s financial institution, the Omoluabi Savings and Loans Limited, has recapitalized with additional N1.65 billion shares. Speaking with reporters in Osogbo, the state capital, after a board meeting, the Chairman of the Board of Directors, who is also the Commissioner for Finance, Economic Planning and Budget, Dr. Wale Bolorunduro, said the

http://businessdayonline.net/news/osun-recapitalizes-omoluabi-savings-and-loans-ltd-with-n165bn

To all my investment brothers and sisters.. Merry Christmas and Happy Holidays

9free: Diamond bank should just respect itself and reverse it south-wise movement.

Maybe people are dumping their stock because of their no dividend policy. Are you expecting them to pay dividend this year?

Abraaj to raise $1bn health fund

Abraaj is looking to raise $1billion for a healthcare fund to invest in Africa, Asia and Latin America. The Abraaj Global Healthcare Fund (GHF) expects to have its first close in 2014. The fund will likely be registered in the ......

http://africanfinancialnews.com/+/abraaj-to-raise-1bn-health-fund

Nigeria: Entrepreneurs and investors discuss the VC climate for local startups

Jason Njoku, iROKO Partners and SPARK, and Tayo Oviosu, Paga.

This article by Bankole Oluwafemi originally appeared on TechCabal, a VC4Africa publishing partner.

Last month, Nigerian tech blog TechCabal hosted the first of its “TechCabal Sessions”. Read the recap below. Tayo Oviosu, founder and CEO of Paga, served as ‘special guest’. Paga was launched in 2011 and is now the #1 mobile payments company in Nigeria. Other participants included iROKO Partners & SPARK‘s Jason Njoku, Prowork‘s Francis Onwumere, Hotels.ng‘s Mark Essien, and many other interesting people. The TechCabal Sessions are exclusive dinner events where influential personalities in Nigerian...

http://africanfinancialnews.com/+/nigeria-entrepreneurs-and-investors-discuss-the-vc-climate-for-local-startups

shigidi: Sir manie, as a dividend investor which i know you are, you may want to pick up unviersity press. this stock has the best dividend yield as at fridays closing price. Close to 10%. i fear its liquidity sha

The problem with UPL is not about their trailing dividend or past dividend policy, but their capacity to pay consistent dividend going forward. Their last result was nothing to write home about, and this happened before the ASUU strike. Now that we have ASUU strike still in place, what effect would this have on their fiscal year result?

bigass: Oga here. Please. My husband just paid 5million into my Morgan account.
What five shares do you advice for 3-6months term.
Thanks.

If im the one making the decision, i will look at the stocks below.
1. Skye bank
2. Courtville
3. ABC Transport
4. Sterling Bank

My decision will be based on their forward "eps/price", which tells me how much the company can afford to pay out in dividend, couple with their dividend payout history.

Dexterax: Company profits and losses relate in a non-linear way to asset changes. Like someone said, obvious prospects for growth in a business do not translate into obvious profits for investors. For instance, what is the current condition of the oil assets in play? Will they start producing immediately the deal is sealed? How will the interest rate decisions by the Fed affect the interest payments on Oando's dollar-denominated debt? ..........

Yes, they are suppose to start producing right away after the deal. Part of the assets in play are producing assets, and should contribute to current fy revenue, assuming they can finalize the deal on time.

Why should that be a problem. I don't think fx risk is an issue here, considering crude oil is sold in dollar (upstream business). And if it is, i want to believe management will have an hedge in place to mitigate the risk.

gosj: With the completion of the correction, UACN force and the NSE factor might push the price of Livestock to an unprecedented peak.

It was the same sentiment that pumped the price to 7.18 back in june.

Dexterax: Whether OANDO closes the ConocoPhilips' deal or not, the most realistic investment horizon for that stock is not less than 18 months. TRANSCORP and others might get into new Gas Supply Agreements with OANDO in the medium term.

Someone recently speculated in this space that TRANSCORP will do a stock buyback. This is very unlikely considering they need all the capital they can get to get Ughelli running at full capacity before eventually reaching their megawatt projections.

UACN is a great company to watch out for. The recent stake acquisition by Famous Brands of SA is a pointer.


I'm long LIVESTOCK. Started out with 20,000 units during the correction cycle that started in late July.

Dont forget that Oando currently has some producing asset (~5000 barrels/day). Assuming they're able to close the cop deal today, it will raise their production level right away. This will have positive impact on their consequent cash flow, earnings and quaterly/ fiscal year guidance. They dont have to wait 18 months to see the impact of the deal.

The man who institutionalized corruption.. .IBB

BlueRoyale: Hmmm... I am so so elated to see our younger generation celebrating our Ijebu cultural heritage. We IJEBU's are so unique people in all ramification. We are never stingy like must people stagged us, we are only Smart and Prudent in our spendings... Though we are known to always paint the city red coz we are social butterflies (especially our ladies) and big time spenders but when it comes to money and biz we are doyens and captains of industries. Ask the likes of ODUTOLA's,KUKU's,ADESANYA's,ADENUGA's,SUBOMI's the list are just endless... JEBUSITE is the only 9ja tribe even mention in d holy bible lolz! We are lovely,smart,hardworking people. I love my people repping allover the world from older to younger generation... The likes of our entertainment gurus are also appreciated... Keke and D1, Kwam1, Adewale Ayuba(The juju act Adewale Ayuba is from IJEBU IKENNE Late Obafemi Awolowo and Prof. Wole Soyinka hometown), DJ JIMMYJAT,Dbanj,OLAMIDE A.K.A BADOO,Vector V.E.C,Durella,Weird MC and lot lot more prominent people... name it IJEBUS are everywhere both local and international... Infact, we are everywhere in every industries. We always take the center stage be it biz,entertainment,commerce,fashion,politics etc. We are always repping our people and the Yoruba cultural heritage very well to the fullest. And to all my kinsmen and women from IJEBU-ODE I doff my hat for all'yaa guys you made me proud of my lineage and heritage. And enuff R.E.S.P.E.C.T to all my BLUEBLOOD and ROYAL families represented here too Ewee soo! From The Gbelegbuwa Ruling House(my own family royal lineage),The Anikinaiya Ruling House(our present ruling Awujale)[b]The Fusengbuwa Ruling House [/b]and the Fidipote Ruling House... Ewe soo once again to all the Royal families represented on this thread... Yours truly is also a prince from Gbelegbuwa Royal family... Long live our king the Awujale Oba Sikiru Kayode Adetona "Ogbagba II" longlive the JEBUSITEs and all YORUBAs represented all over the world! Thanks 1love peace!

Much respect....should that have been Tunwase Ruling house. I've heard of the Fidipote's, Anikilaya's and the Gbelegbuwa's but not Fusengbuwa. Can you please clarify?

[quote author=isale_gan2]https://www.oloriolawale.com/wp-content/uploads/2012/12/DSC_0682.jpg

And there's a demand for Ijebu state too (on sign above). I can't oppose it. There are so many Ijebu towns, I can't keep up.

Let's try and list them:

1) Ijebu-Ode
2) Ijebu-Remo
3) Ijebu- Ikorodu
4) Sagamu?
5) Ikenne?
I can't remember
6)Ijebu Imushin
7)Ijebu Ife
8 )Itele
9)Owu Ikija
10)Iwaya
12) Ijebu Igbo
13) Oru
14) Ago Iwoye

There's gotta be a hundred of them. [/quote]

Im also from the ruling house..."awa omo anikilaya so ogun"

chamotex: Of course...ijebu and proud
The Awujale is my uncle.

Are you from the anikilaya's ruling house?

omonla555: Ogbagba Agbotewole.

Agbatewole

Guys,

How come GTB, ZENITH are trading at about 7.5 x earnings multiples while First bank is trading at 5.8x This is based on their foward earnings multiples. Does that mean fbn is cheap when comparing it with its peers?

[quote author=Sunny_bobo]All Muslims

You dey try.[/quote]Bros, feel free to give us your own list. Dont just criticize my list without offering a different view

If you don't agree with my list, its ok. Kindly list yours so that we can compare. We can always agree to disagree.

Name your top 5 Nigerian living politicians who exhibits disciplined character, integrity and honesty.

My list would be,

1. Buhari
2. Alhaji Lateef Jakande
3. Nuhu Ribadu
4. Abubarkar Dangiwa Umar
5. Fashola

All my bros and sister, i hail o.

What do you guys think about the GDP rebasing set for next month? What impact will this have on the market? What industry/industries do you guys think should benefit the most from the exercise?

To people who believe Buhari is too old, or because he has been in government far too long, therefore will not vote for him to have a rethink. I will appeal to you guys to research the life of "Shimon Peres". Incumbent president of Israel. He was elected president in 2007. Currently at the age of 90, the man is simply one of the brightest mind Israel has ever produced.

princemolak: hey Guys, do you think oando will surely rise again

The recent drop in price of Oando was based on speculation, it has nothing to do with the fundamental of the company.

The operation of the company, business model, structure, management, culture and other relevant business factors remain the same. So, if their business fundamentals hasn't changed, why should i worry?

And if our fears happens to be real, worst case scenario; management will carry out a private placement, and or employ other legal means to sell off whatever stake Ibori currently holds without diluting current outstanding shares. Ibori's stake should not in any way posse any business, liquidity risk to the company. Political risk? may be. I think management can mitigate that easily.

So, lets not get carried away with the speculations and propaganda.

Its just a matter of time, Oando will rise again.

nereiskc: Mr courage89, I urge u to check ur cscs or talk to ur broker on nxt step cos okomu's bonus has been credited to shareholder 4 long....Good luck pal

Thanks bro

Guys,

Has anybody received their Okomu's bonus? I'm wondering why its taking forever for it to be credited.

@ Jarus...Respect

They all understand the meaning of the quote by Abigail Van Buren" if you want your children to turn out well, spend twice as much time with them, and half as much money"