Janet Ogunkoya

Tellimer Research

Senior Research Analyst @ Tellimer Research

Janet covers some of the key names in the Africa consumer and industrials space. She is an accounting graduate of Redeemers University and previously worked at ARM Securities, where she was responsible for coverage of industrials and upstream oil and gas, and at Cordros Capital, where she covered banks.

Janet Ogunkoya
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Latest articles from Janet Ogunkoya

Nigeria: Wider trade deficit and absent inflows = further pressure for the naira

Nigeria's Q1 21 trade data released by the National Bureau of Statistics showed total trade rose 7% qoq to NGN9.8tn (US$24bn) in Q1 21. Items tagged "other antibiotics" were the second-largest import category, as Nigerians ramped up medical spending ...
Tellimer Research Janet
Janet Ogunkoya @ Tellimer Research 10 June 2021
Nigeria: Wider trade deficit and absent inflows = further pressure for the naira
Nigeria: Wider trade deficit and absent inflows = further pressure for the naira

Lafarge Africa: Q1 21 – High sensitivity to FX issues, but good cash position

We update our model following the release of Lafarge Africa's Q1 21 result. The major adjustments include the upward revision in our revenue per tonne and cost per tonne estimates. We are yet to incorporate in our model. Further increase in ex-factor...
Tellimer Research Janet
Janet Ogunkoya @ Tellimer Research 11 May 2021

Dangote Cement: Another share buyback programme is in the works, upgrade to Buy

Dangote grew domestic sales by an impressive 19% yoy and took up 2ppts in market share to 63% in the quarter (see details on market dynamics and Q1 results below). No further detail was provided but we will monitor progress on this. Impressive toplin...
Tellimer Research Janet
Janet Ogunkoya @ Tellimer Research 6 May 2021

Seplat: Venturing into a renewable energy future; declares surprise dividend

Seplat released Q1 21 results that showed PAT growing by 126% qoq to US$25mn. Other updates to our forecast include: (1) lower 2021 production to 53boepd (previously 55boepd); (2) the new Eurobond issuance of US$650mn used to pay off the old loans (U...
Tellimer Research Janet
Janet Ogunkoya @ Tellimer Research 3 May 2021

Aluminium Bahrain: Q1 21 preview – Positive expectations amid commodity supercycle speculation

Aluminium Bahrain (Alba) will report Q1 21 results on 3 May 2021. This compares to a net profit of BHD32mn in Q4 20 and a net profit of BHD5.8mn in Q1 20. We also project sales volume would increase by 2% qoq to 385 kilo tonnes (100% capacity) suppor...
Tellimer Research Janet
Janet Ogunkoya @ Tellimer Research 29 April 2021

How Africa has coped with Covid, and its long path out of the pandemic

It has been over a year since the first Covid case was detected in Africa. However, the economic hardships caused by the pandemic, which the Finance Minister estimated cost the country cUS$100mn daily, led to a decision to ease lockdown measures in J...
Tellimer Research Ayobami
Ayobami Omole @ Tellimer Research 27 April 2021
How Africa has coped with Covid, and its long path out of the pandemic
How Africa has coped with Covid, and its long path out of the pandemic

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Janet Ogunkoya
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Africa
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Sub Sahara Africa
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