A fierce debate has been waging for many years as to whether cryptocurrency qualifies as an investment. However, based on its opening day of trading, one characteristic Coinbase seems to share with cryptocurrencies is high price volatility. Nigeria i...

A combination of poor financial inclusion and growing mobile phone penetration (including smartphones) has made Africa a promising environment for the growth of mobile money and, more broadly, innovation in digital payments services. Partly due to th...

In this report, we highlight our positive outlook on Nigeria's cement market. In 2020, Dangote increased plant capacity by 3Mt with Obajana line 5. On the other hand, the impact of Dangote's addition of 3Mt with the Obajana line 5 was almost unnotice...

We maintain our 12M TP of NGN53.6 but downgrade the stock to Hold, as the recent price rally has left limited room for upside. However, we expect the group’s significantly improved effective CRR position (116% in 9M 20 to 61% in FY 20) to provide hea...

Further to Access Bank’s update on its strategic business plans, the group recently received regulatory approvals to acquire South Africa-based Grobank Limited from GroCapital Holdings, for a consideration reported to be valued at approximately ZAR40...

Safaricom recently rolled out its 5G network in Kenya, after trials and regulatory approvals, making it the first operator to launch commercially in Kenya and only the third in Sub-Saharan Africa – MTN and Vodacom have launched in South Africa. Since...