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Will investors get bullish on Nigeria MPC decision?

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Investors resume profit-taking on Nigeria equities

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Access: Investors shift focus to Monday’s ₦150bn bond auction

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Access: Tight liquidity fuels bearish run

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Cordros: Nigeria equities to see mixed to positive sentiments

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<p>As more earnings, particularly from the banking sector continue to trickle in, analysts believe the results are pushing positive investors sentiments. Mercy Okon, an Investment Research Associate at Parthian Securities, joins CNBC Africa to discuss expectations from the Nigeria equities market.</p>


Investors sustain positive sentiment

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<p>Traders at Access Bank expect the T-bills market to continue trading bearish due to tight liquidity. For the bond side, improved bids are seen on the auction bonds following the postponement of this month’s Bond auction. Meanwhile, investors are  trading cautiously in anticipation of the release of August inflation data next week. Ladi Belo, Head of Fixed Income at Access Bank joins CNBC Africa for more market movements.</p>


Access: investors cautious ahead of August inflation data


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-820x547.jpg" alt="" class="wp-image-530059" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-928551768-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Pravin Gordhan, South Africa&#8217;s minister for public enterprises, arrives on stage to speak during the future of South Africa conference in Cape Town, South Africa, on Wednesday, March 7, 2017. South Africa &#8220;could easily see&#8221; its economy expand by 2 percent to 3 percent in the next year or two as the government tackles graft at state-owned companies and implements plans to create jobs, Gordhan said. Photographer: Halden Krog/Bloomberg via Getty Images</figcaption></figure>



<p>Former South African Finance Minister Pravin Gordhan has died after a short illness.</p>



<p>His family said Gordhan, who also previously served in the Ministries of Public Enterprises and Cooperative Governance, died in the early hours of Friday. He was 75.</p>



<p>Gordhan was lauded for standing up against corruption under former President Jacob Zuma during a period that came to be known as state capture when India’s Gupta brothers were accused of widespread bribery and corruption of government officials. He was a freedom fighter for the African National Congress during its struggle against apartheid rule.</p>



<p>“We have lost an outstanding leader whose unassuming persona belied the depth of intellect, integrity and energy with which he undertook his activism, his duty as a parliamentarian and his roles as a member of Cabinet,’’ President Cyril Ramaphosa said in a condolence message.</p>



<p>Gordhan was appointed as Commissioner of the South African Revenue Service (SARS) in 1999, after a period as Deputy Commissioner as South Africa transitioned to democratic rule. His decade at SARS was marked by improved tax collection and governance, which led to his appointment as Finance Minister in 2009 till 2014.</p>



<p>His family said Gordhan understood public service was for the greater good rather than self-enrichment.</p>



<p>“He understood that participation in government was not merely a technical or technocratic role. Rather, it was to advance the high public duty that the Constitution bestows on all of us: to uplift the poor, eliminate inequalities, fight racism, greed and corruption, and create a society where social justice and economic emancipation occur within a far-reaching transformation of our society.’’</p>



<p>Gordhan also briefly served as Minister of Cooperative Governance and Traditional Affairs from 2014 until 2015, and then as Minister of Public Enterprises from February 2018 until March this year when he retired.</p>



<p>“In the latter years of this service to the nation, and as a beacon of our fight against corruption, Pravin Gordhan stood up to derision and threats emanating from some in our nation who were scorched by his insistence that justice be dispensed against those who sought to undermine our democracy and raid our public resources and assets.’’</p>



<p><em><strong>This is a breaking news story. Please check back for updates.</strong></em></p>


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CNBC Africa

Will investors get bullish on Nigeria MPC decision?

Focus On: Power parity: Building resilient learning systems

The 2024 Africa50 General Shareholders Meeting

Investors resume profit-taking on Nigeria equities

Access: Investors shift focus to Monday’s ₦150bn bond auction

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Eye on OR Tambo SEZ: Exploring South Africa’s medical manufacturing landscape

Byrne: Africa needs active regulations to meet FATF criteria

Access: Tight liquidity fuels bearish run

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Cordros: Nigeria equities to see mixed to positive sentiments

2024 Goalkeepers Report: Gates Foundation Chair warns about child malnutrition

ActionSA rethinking strategy?

Investors sustain positive sentiment

Africa Food Systems Forum 2024: Delivering Food Systems Transformation in a Digital & Climate Era

Access: investors cautious ahead of August inflation data

Former South African Finance Minister Pravin Gordhan Passes on

News Tips

Advertise With Us

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