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NEWS UPDATE (Sun.02.02.20)


Amazon went to the mountain-top. Yes, that $1 trillion market cap this week. The ecommerce pioneer had an impressive earnings and markets rewarded it.
Here are the key numbers:
• Earnings per share: $6.47 per share vs. expectations of $4.03 per share, according to analysts surveyed by Refinitiv
• Revenue: $87.44 billion vs. expectations of $86.02 billion, per Refinitiv
• Amazon Web Services: $9.95 billion vs. expectations of $9.81 billion, according to FactSet
By the time it was over, a new chapter was written – Jeff Bezos, Amazon Founder, had made $13.5 billion in 15 minutes as Amazon stocks rose.


Kenya’s Sendy — with an on-demand platform that connects clients to drivers and vehicles for goods delivery — has raised a $20 million Series B led by Atlantica Ventures. Toyota Tsusho Corporation, a trade and investment arm of Japanese automotive company Toyota, also joined the round, reports Techcrunch. Sendy joins Zido, Swvl, Kobo360 and Lori as logistics companies that have raised funds very recently, demonstrating the dynamism in the African logistics market.


The equities market of the Nigerian Stock Exchange (NSE) on Friday closed trading for the month of January below 29,000 mark. For instance, the All-Share Index yesterday declined by 187.40 points or 0.65 per cent to close at 28,843.53 compared with 29,030.93 recorded on Thursday.

Also, the market capitalisation of listed equities dropped to N14.857 trillion, from N14.953 trillion on Thursday, indicating a loss of N96 billion. An analysis of the price movement indicates that Stanbic IBTC recorded the highest loss to lead the laggards’ table, dropping by N3.25 to close at N28.25 per share.

CAP trailed with a loss of N2.50 to close at N25, while Presco was down by N2.40 to close at N49.85 per share. Guaranty Trust Bank dropped by N1 to close at N30, while PZ Cusson shed 55k to close at N5.10 per share.

On the other hand, BUA Cement led the gainers’ table, growing by 25k to close at N37 per share. Access Bank also gained 25k to close at N9.90, while Oando improved by 10k to close at N3.70 per share.

Jaiz Bank increased by 6k to close at 72k, while Champion Breweries also added 6k to close at 97k per share. However, the volume of shares transacted inched 27.02 per cent as investors bought and sold 348.61 million shares valued at N4.21 billion in 4,610 deals. This was against a total of 274.47 million worth N9.09 billion achieved in 4,411 deals on Thursday.


The Nigerian Stock Exchange (NSE) on Friday listed Interswitch Limited’s N23 billion Bond. The Callable Senior Unsecured Bond, with a tenor of seven years listed at a fixed rate of 15 per cent, is part of N30 billion Debt Issuance Programme issued through a Special Purpose Vehicle–Interswitch Africa One Plc.
Interswitch Limited is a leading technology-driven company with a focus on the digitisation of payments in Nigeria and other African countries. Commenting on the listing, the Chief Executive Officer of the NSE, Mr Oscar N. Onyema congratulated the management of Interswitch Limited and the professional parties to the issue for a successful debt capital raise and the subsequent listing of the bond on The Exchange.
“We are pleased to be a partner to Interswitch Limited in its quest to expand its footprints by raising fresh capital. We see a win for Interswitch as a win for Nigeria. As a sustainable Exchange and a premiere listing destination, we are committed to supporting our issuers with tailored financing options that will place them in a vantage position to compete in the regional and global markets.”
The Group Managing Director/Founder Interswitch Limited, Mr Mitchell Elegbe said: “We are delighted with the outcome of our capital raising efforts. We have evolved over the past 17 years into a technology unicorn focused on providing digital solutions to customers in Nigeria and across Africa. We, therefore, see this listing as the first step in a new phase of our journey and we are determined to keep going.”
He went on to thank The Exchange for its support in achieving this feat. Parties to this transaction are FBNQuest Merchant Bank and Stanbic IBTC Capital acted as Lead Financial Advisors/Issuing Houses and ABSA Capital Markets Nigeria, FCMB Capital Markets, Quantum Zenith Capital & Investments and Rand Merchant Bank Nigeria.


Donald Trump, president of the United States has added Nigeria to a list of countries restricted from traveling to the United States including five other countries Myanmar, Eritrea, Sudan, Tanzania and Kyrgyzstan.
This means that immigrant visas issued mostly to foreigners intending to live in the United States will be banned from Nigeria.
According to US Homeland Security, these countries will be unable to obtain waivers. This proclamation will take effect from February 22.
This restriction could see more than 12,300 potential immigrants from resettling in the United States or reuniting with family according to a New York Times report.
Lai Mohammed has said that Nigeria was unaware of the plans by the United States and this proclamation could hamper fight against terrorism.

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