Busola Jeje

Tellimer Research

Research Analyst @ Tellimer Research

Busola covers some of the key names in the Nigeria banking sector. She joined Tellimer from United Capital Plc Group, where she was a research analyst with sole coverage of Nigerian oil and gas companies as well as power companies. She has a first-class degree in Economics from Covenant University and is a CFA charter holder.

Busola Jeje
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Latest from Busola Jeje
West Africa in Focus / Global

Nigeria to fund oil subsidies with 2021 Eurobond receipts and local borrowing

Nigeria is cracking down on illegal loan agencies and their practices of charging eye-watering rates and intimidating borrowers who get into payment difficulties. As we have highlighted previously, local players stand to benefit from IOC exits. To fi...
Tellimer Research Janet
Janet Ogunkoya @ Tellimer Research 17 March 2022
Nigeria to fund oil subsidies with 2021 Eurobond receipts and local borrowing
Nigeria to fund oil subsidies with 2021 Eurobond receipts and local borrowing

UBA: FY 21 results underperform on taxes from other African subsidiaries

UBA Group’s after-tax profits for FY 21 grew 9% yoy to NGN116bn. Given the hard hit by taxes, the group’s ROE fell to 15.8% from 16.7% in FY 20, while its ROA fell to 1.4%, from 1.6% in FY 20. Two major factors accounted for the outperformance. Impro...
Tellimer Research
Busola
Busola Jeje @ Tellimer Research 14 March 2022
West Africa in Focus / Global

Russia-Ukraine conflict has enormous implications for Africa inflation

Away from the conflict, African startups continue to attract interest from Big Tech and VC, and with good reason: Africa is a fertile ground for tech disruption, with its rising population and low levels of financial inclusion. Looking forward, the r...
Tellimer Research
Busola
Busola Jeje @ Tellimer Research 10 March 2022
Russia-Ukraine conflict has enormous implications for Africa inflation
Russia-Ukraine conflict has enormous implications for Africa inflation

Higher oil prices spell big trouble for Nigeria

Nigeria is unable to take full advantage of higher oil prices due to low levels of production... A direct impact of the rising oil prices is increased oil revenue for Nigeria. As we have previously elaborated, weak oil production and fuel subsidy ero...
Tellimer Research Ayobami
Ayobami Omole @ Tellimer Research 9 March 2022
Higher oil prices spell big trouble for Nigeria
Higher oil prices spell big trouble for Nigeria

Guaranty Trust Holding: FY 21 results show the negative effect of special bills and higher taxes

Nigeria's newly formed financial holding company, GTCO, reported a 14% yoy drop in FY 21 after-tax profits, slightly better than our forecast of a 17% decline. Although GTCO, alongside other Nigerian banks, is pursuing strategies to diversify away fr...
Tellimer Research
Busola
Busola Jeje @ Tellimer Research 9 March 2022

Zenith Bank: FY 21 earnings outperform on a strong last quarter

Zenith Bank’s FY 21 after-tax profit was up 6% yoy, ahead of our expectations for a 4% decline, and Bloomberg consensus (1% decline). Higher net interest income: Zenith Bank’s net interest income improved (+7% yoy vs 5% expected), as its favourable l...
Tellimer Research
Busola
Busola Jeje @ Tellimer Research 4 March 2022

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