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Ghana: Meet Elvis Justice, CEO of Serendipity Trading Academy … Who Gives 19,000 Pips Free Weekly

ghana meet elvis justice ceo of serendipity trading academy who gives 19000 pips free weekly
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Serendipity Trade Academy, a self-taught online trading academy says it will continue to be one of the few online trading companies which offer free forex signals that provide significant returns to clients.

In an interview with the Chief Executive Officer (CEO) on the online academy Mr Elvis Justice Bedi he said, “We are one of the few academies that grants and share free signals of over 19000+ Pips gains weekly.” Any average trader makes roughly 10000 pips in a whole month but here we do more than that in a week.”

He said the youth were now warming up to trading online in order to rake in additional revenue which hitherto was not available to them.

Mr Bedi, who is also a Bitcoin investor said he won for a huge sum of money through Blockchain technology and cryptocurrency, and urged Ghanaians to consider investing in the cryptocurrency market.

According to him, digital trading had now become the trend for the youth as it was classified as investment unlike gambling and sports betting.

“My vision is to empower people with the right knowledge of Blockchain technology and creating a source of income with just the use of phone and internet. This will reduce the high rate of youth unemployment in the country,” he said.

“The long term benefit is the rise of smart 21st Century investors and traders who will be at the forefront of Blockchain innovation,” he said.

Mr Bedi debunked claims that crypto currency was not worth investing, and explained that, “You need to understand how it is done. One needs to be patient and understand the technicalities before investing in the crypto currency business in order to reap the benefits.”

Serendipity Trading Academy recently launched its updated e-learning portal where all learning materials; simplified from Beginner – Masterclass in Forex, Cryptocurrency, Indices, Stocks, Options& Commodities are made available.

“This is the only thing I can give to the youth” A simplified way of understanding this business.

Meanwhile, the Securities and Exchange Commission has warned the public against investing in crypto currency and crypto-related investment schemes.

A statement issued by SEC last year said all crypto-related activities were not regulated by the Commission.

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Nigeria: NSE – Application of 0.08% Stamp Duty Begins December 7

nigeria nse application of 0 08 stamp duty begins december 7
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The Nigerian Stock Exchange (NSE) yesterday said from Monday, December 7, the Stamp Duty rate of 0.08 per cent on securities transactions in the market will be implemented.

The new duty was revised from 0.075 per cent previous charge. According to the NSE, the change was necessitated by the classification of Contract Notes as an ad valorem tax by the Federal Inland Revenue Service (FIRS).

“As a responsive self-regulatory organisation, the NSE is committed to enforcing rules and ensuring compliance with regulations and other applicable government requirements.

“While it had maintained a stamp duty rate of 0.075 per cent in line with what was obtainable in the Nigerian capital market, it is imperative that the FIRS’ stamp duty regime of 0.08 per cent on securities transactions is applied.

“To this end, the Central Securities Clearing System Plc (CSCS) will adjust its system to implement the automated deduction of the Stamp Duty rate of 0.08 per cent from Monday, 7 December 2020,” the exchange said.

The Exchange explained that it had also issued the requisite guidance to Dealing Member Firms to put in place the necessary measures to ensure compliance and communicate this change to investors in a timely manner.

Meanwhile, trading at the stock market closed on negative note following sell pressure on Tier 1 banks, United Bank for Africa Plc, Guaranty Trust Bank Plc and Zenith Bank Plc. The NSE All-Share Index fell 0.3 per cent to close at 34,968.94.

The total volume of trades decreased by 21.5 per cent to 289.39 million shares, valued at N7.35 billion, and exchanged in 4,878 deals. UBA was the most traded stock by volume at 34.45 million shares while MTN Nigeria was the most traded stock by value at N4.38 billion.

Performance across sectors was broadly negative, as three of sector monitored indices declined. NSE Banking Index led the decliners with 2.1 per cent, trailed by the NSE Insurance Index that went down by 0.8 per cent. The NSE Consumer Goods Index shed 0.2 per cent. However, the NSE Oil & Gas Index appreciated by 0.4 per cent.

A total of 25 stocks depreciated compared with 13 that appreciated. The price losers were led by Unity Bank Plc with 9.8 per cent, trailed by Chams Plc with 8.0 per cent. NAHCO Plc shed 6.8 per cent just as ETI Plc dipped by 6.3 per cent among others.

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Nigeria: Govt Laments High Economic Loss Due to Continuous Rejection of Food Products in Int’l Markets

nigeria govt laments high economic loss due to continuous rejection of food products in intl markets

THE federal government has expressed concern over the high economic loss it said the country was incurring due to continuous rejection of Nigeria’s food products in the international market.

Minister of Environment, Dr. Mohammad Abubakar, speaking Thursday, in Abuja, at a two-day sensitization workshop on the prevention of Mycotoxins in food and environment, also regretted that there was a high economic loss due to diseases induced by mycotoxins in the country’s food products.

“There is high economic loss due to diseases induced by mycotoxins and the continuous rejection of Nigeria food products in the international market,” he noted.

According to him,”It is instructive to note that, controlling mycotoxins which are largely preventive, entails good agricultural practice and sufficient post-harvest drying of crops.”

“Additionally, they are also controlled by the diversion of mycotoxin-contaminated commodities from the food supply through effective screening in the market place.

“These, require concerted efforts of both the environment, agriculture and health sectors through effective collaboration, thereby fostering the objectives of one health,” he said.

The minister said there was “the need to prioritize mycotoxin control through the use of the Hazard Analysis Critical Control Points (HACCP) concepts following an Integrated management approach for pre-harvest, harvesting, post-harvest, storage and processing of food and cash crops.”

” In the same vein, the ministry is strongly advocating for an effective Mycotoxin Testing Programme using rapid testing technology with potential for scaling up to laboratory-based methods,” he said.

Describing the workshop as “apt and timely considering the adverse health effects of mycotoxins on the health of Nigerians and our economy”, the minister recalled that the “Food and Agriculture Organization asserts that more than one-quarter of the World’s agricultural produce is contaminated with Mycotoxins.”

“The common occurrence and extensive growth of moulds in homes, schools, offices and especially on food and food products poses a great risk to human survival,” he said, adding that:” The low level of knowledge by the public about these moulds and the effects of the metabolites they produce is of great concern and needs to be promptly addressed.”

According to him, “Exposure to moulds and their toxic mycotoxins and other metabolites in food and environment has been associated with disorders of the respiratory and central nervous systems to mention but a few.”

“We must, as a country, be worried about the risk of environmental exposures experienced by those that consume or are exposed to food and food products contaminated with mycotoxins,” he charged.

He spoke further: “As has been well established, the exposure of human and animal to mycotoxin is both chronic (cancer induction, kidney toxicity, immune suppression) and acute (turkey X syndrome, human ergotism, etc).

“The ingestion of mycotoxin through food and inhalation of mycotoxins and other contaminants in the air might result in lung damage, allergic reactions such as irritation in the respiratory tract, eyes, and skin, and sometimes headaches.

“Exposure to all these contaminants could have harmful effects on vital organs and consequently on the overall human health and productivity.

“There is high economic loss due to diseases induced by mycotoxins and the continuous rejection of Nigeria food products in the international market.

“Moulds are perhaps the most pressing food quality problems in environments because many of our food and food products are moist organic materials which are subjected to poor methods of food handling and storage. Also worrisome is the dense nature of our population where buildings are more likely to harbor high levels of molds.”

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Nigeria: NSE Announces Migration of Four Companies to Growth Board

nigeria nse announces migration of four companies to growth board

The Growth Board was launched to assist small and medium scale enterprises (SMEs) and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares.

The Nigerian Stock Exchange(NSE) has announced the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market (ASeM) to the Growth Board.

The NSE also announced the launch of the associated Growth Board Index.

A statement by the NSE said this migration follows the receipt of applications from these companies requesting to be migrated from ASeM, and consequent screening and approval by the National Council of The Exchange.

The NSE Growth Board was launched to assist small and medium scale enterprises (SMEs) and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares.

It offers relaxed entry criteria with less stringent listing requirements making it easier to attract capital flows along with reduced pre and post-listing obligations.

Commenting on the development, the Chief Executive Officer, NSE, Oscar N. Onyema, stated, “This migration affirms the notable efforts of the four companies to meeting corporate governance standards and underpins the robustness of our market. We congratulate and are pleased to migrate Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc to the Growth Board where they will have access to a suite of value-added services that will give them a competitive edge beyond access to capital. We believe that the inclusion of these companies on the All-Share Index and the Growth Board Index of the NSE will provide increased visibility that will attract global investors.”

The migration of the four qualified companies was commemorated with a virtual Closing Gong ceremony.

At the ceremony were the Chairperson Chellaram Plc, S.K. Onafowokan OON; Chairperson, McNichols Plc, Olusegun Layode; Chairperson, Living Trust Mortgage Plc, Adebayo Jimoh; Chairperson, The Initiates, Joe Ogbonna Anosikeh; Managing Director, Chellaram Plc, S.M. Chellarams; CEO, McNichols Plc, Chimaraoke Ekpe; CEO, Living Trust Mortgage, Adekunle Adewole; and CEO, The Initiates, Reuben Mustapha.

They were all given the honour to close the market.

The NSE Growth Board was launched on 28 January 2020 to encourage Start-Ups, Small and Medium Enterprises, and the companies in the Fintech industry with high growth potential to seize the opportunity of raising long-term capital and promote liquidity in the trading of their shares.

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Nigeria: NSE Migrates Four Companies From Asem to Growth Board

nigeria nse migrates four companies from asem to growth board

The Nigerian Stock Exchange (NSE) has announced the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market (ASeM) to the Growth Board.

It also launched the associated Growth Board Index yesterday.

According to the NSE, the migration followed the receipt of applications from the companies requesting to be migrated from ASeM and consequent screening and approval by the council.

The NSE Growth Board was launched to assist small and medium scale enterprises (SMEs) and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares. It offers relaxed entry criteria with less stringent listing requirements making it easier to attract capital flows along with reduced pre and post listing obligations.

Commenting on the migration, the Chief Executive Officer, NSE, Mr. Oscar Onyema, said: “This migration affirms the notable efforts of the four companies to meeting corporate governance standards and underpins the robustness of our market. We congratulate and are pleased to migrate Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc to the Growth Board where they will have access to a suite of value added services that will give them a competitive edge beyond access to capital. We believe that the inclusion of these companies on the All Share Index and the Growth Board Index of the NSE will provide increased visibility that will attract global investors.”

The migration of the four qualified companies was commemorated with a virtual Closing Gong ceremony where the chairman and chief executive officers of the companies were given the honour to close the market.

The NSE Growth Board was launched on 29 January 2020 to encourage start ups, SMEs and the companies in the fintech industry with high growth potential to use the opportunity to raise long-term capital and promote liquidity in the trading of their shares.

Meanwhile, the market closed on positive side as the NSE All-Share Index (ASI) appreciated 0.45 per cent to 35,042.14, while market capitalisation added N81.8 billion to be at N18.3 trillion.

The appreciation was propelled by gains recorded by Airtel Africa Plc, MTN Nigeria Plc and Union Bank of Nigeria Plc.

Activity level improved as volume and value traded surged 118.4 per cent and 47.1 per cent to 415.5 million units and N4.9 billion respectively. The most traded stocks by volume were Multiverse Plc (84.0 million shares), Zenith Bank Plc (47.0 million shares) and Transcorp Plc (34.1 million shares).

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South Africa: A Revamped Grand Old Lady – Aveng’s Journey Back From the Brink

south africa a revamped grand old lady avengs journey back from the brink
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Engineering firm Aveng once traded at R44/share. But risky projects, poor capital allocation decisions and poor operating performance saw debt spiral while revenue collapsed. A turnaround plan, announced in 2018, aimed to set the company on a new footing. It seems to be on track.

It is so much easier to break something than rebuild it. This is a well-worn truism, but ask Aveng’s CEO, Sean Flanagan, and its CFO, Adrian Macartney, who have been involved in the company’s restructure and turnaround since 2017, and they just roll their eyes.

“We have been up to our eyeballs,” says Flanagan. “Putting the group back on a positive trajectory has required that many hard and tough decisions be taken.” This includes the sale of about 14 businesses, including Aveng Grinaker-LTA Construction, the once high-flying construction business in 2019, which was particularly difficult. “Sometimes you have to chop off a limb to save a body,” Flanagan says.

Management believes the company’s results for the year to June, released on Monday 30 November – the last day of the JSE’s Covid-19 grace period – are something of a milestone.

At the half-year results in February, Aveng reported its first operating profit in many years…

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Zimbabwe: Mystery Buyer Snaps Up Majority Stake in ZB

zimbabwe mystery buyer snaps up majority stake in zb
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Trading on the Zimbabwe Stock Exchange yesterday was boosted by a $1,6 billion trade in ZB Financial Holdings.

A total 66 528 658 shares changed hands that means the financial services group now has a new major shareholder owning 37,79 percent.

The new shareholder is an investment vehicle reportedly linked to a local businessman whose name cannot be disclosed in the meantime.

Prior to this deal the National Social Security Authority (NSSA) was the major shareholder owning 37,79 percent.

Transnational Holdings Limited (THL), which is linked to veteran banker Nicholas Vingirai, is the second major shareholder with a 21,44 percent.

According to the Banking Act Section 26 sub section 3 (a) before approving the acquisition of a significant interest in a banking institution, the registrar shall, through the (RBZ) Governor, consult the Minister (of Finance and Economic Development) and shall provide the Minister with such information regarding the proposed acquisition as the Minister may reasonably require.

In addition, no person shall knowingly acquire or obtain a significant interest in a banking institution unless the registrar has given his written approval of the acquisition.

Also no banking institution shall permit any one person to acquire or obtain a significant interest in it unless the Registrar has given his written approval of the acquisition.

As a result of the ZB Financial Holdings deal, $2,4 billion worth of shares changed hands on the day. This is the highest single day turnover in years.

CBZ also got a sizeable chunk amounting to $620 million recently.

Cafca was the day’s top riser up 19,97 percent to $73,25 while Masimba gained 18,83 percent to $6.

Zimplow led the fallers down 2,17 percent to $4,5.

Meanwhile, shares worth $40 million and constituting roughly 5 percent of Powerspeed changed hands on Friday last week at price of $1,92 per share.

The transaction come as Powerspeed, which is originally a light engineering business focused on the electrical sector, but now dominated by the Electrosales retail operation, plans to de-list from the ZSE.

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Tanzania: Mobile Trading Platform to Transform Dse Activities

tanzania mobile trading platform to transform dse activities

Dar es Salaam — Trading at the Dar es Salaam Stock Exchange (DSE) will likely go up, thanks to a mobile trading platform.

Chief executive officer of Capital Markets and Securities Authority (CMSA) Nicodemus Mkama said yesterday the new equities’ mobile trading platform will stimulate growth of the country’s capital markets.

Dubbed ‘Hisa Kiganjani,’ the platform, which was launched yesterday by DSE will allow investors to buy and sell stocks using their mobile devices through a mobile application or via website.

Mr Mkama, who graced the launch, said the capital market authority approved the platform because it met both national and international requirements.

He said the new development augurs well for CMSA plans to steer to the growth of the stock markets .

“The platform will increase the number of participants in the market and thus push for more liquidity and growth,” he said.

He said selling and buying securities through mobile devices provide convenience by saving time and it would reach many people and potential investors especially those in remote areas.

He said: “There are many potential investors who live in upcountry regions, who are interested in the DSE activities, but they cannot access services. This is because many brokerage firms do not have office branches in all regions.

“However, this platform is a boon for them and the DSE because they will now simply be able to access the market.”

Speaking yesterday, DSE chief executive officer Moremi Marwa said the platform will be operating as an “order management system” allowing investors to check on the market and make an order anywhere they are. “We also designed this platform as a means to expand our investors base.

“Currently, we only have 550, 000 registered participants in the market which is only nearly one percent of the total Tanzanian population,” said Mr Marwa.

He said the platform also aligns with the implementation of the DSE five-year strategic plan for 2018-2022.

Being the third year of the strategic plan implementation, Mr Marwa said it is very difficult to project the exact number of participants that will come in as a result of this initiative.

However, DSE has plans to put in place a number of supporting resources such as engaging in public awareness programmes and continuing with efforts in profiling the bourse and its visibility so as to make the numbers grow.

Regarding the role of brokers in this mobile platform, Mr Marwa said they have included all the registered brokers, and a trader will have a chance to choose according to his or her preference.

“When you log in to the platform a trader will be directed to the list of brokers of which to choose from,” he said.

This will also help a trader when he/she faces any challenge in investing such delayed dividend or at any inconveniences you would know whom to ask,” says Marwa.

In the East African region, the Nairobi Securities Exchange (NSE), also launched a mobile application this year aimed at enhancing investors’ participation in Kenya capital market.

Studies have also shown that users on mobile devices might trade more frequently and impulsively, and in turn may perform less well than traders pursuing a more rigid buy-and-hold strategy.

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East Africa: Regional Stock Markets Automate Trading

east africa regional stock markets automate trading

Four East African countries – Rwanda, Uganda, Tanzania, and Burundi – have finally merged their stock markets through a decade-long automation project to attract investment.

The automation means now investors will be allowed to trade their stocks electronically across the borders next month, according to Celestin Rwabukumba, the chief executive of the Rwanda Stock Exchange.

It is a project that has been in the making since 2011 when countries from the region embarked on integrating their stock exchanges, although at a time Rwanda was only starting to invest in its capital market.

The World Bank-funded project has been completed with only a few states for the technology system to go live, according to Rwabukumba who’s also the chairman of the East Africa Securities Exchange Association (EASEA).

“There was a time for you to trade your KCB shares in our market, you needed to go on a bus, get your shares certificate from Kenya and bring it to Rwanda or send it by DHL,” he said.

That was inefficient and costly.

“Today, it’s going to be happening in the blink of an eye. The system will allow you to open an account across markets, boost access to a pool of investments, as well as give you visibility,” he noted.

Through the platform, investors in the four countries will be able to buy and sell shares of companies listed in any of the countries without going through different stakeholders.

Kenya had reportedly pulled out of the project in 2015 over alleged procurement irregularities, but Rwabukumba said they have “formally expressed interest” to join again.

Kenya currently has the largest and active capital market in the region.

The Nairobi Securities Exchange comprises approximately 66 listed companies with a daily trading volume of more than $10 million and a total market capitalization of more than $20 billion.

Rwanda’s bourse, on the other hand, has a market capitalization of just $3.5 billion, but the move by the region is expected to diversify markets such as that of Rwanda and create a wide pool of both retail and institutional investors.

George Odhiambo, the Managing Director of KCB Bank Rwanda, part of KCB Group whose shares are listed both in Kenya and Rwanda, said the automation is likely to bring a lot of benefits towards promoting the capital market.

“Any automation should reduce transaction costs, improve operational efficiencies and speed deals closure for the benefit of stakeholders,” he told The New Times on Thursday.

The platform

The technology platform dubbed the EAC Capital Markets Infrastructure (CMI), developed by a Pakistan-based private firm, will basically interconnect all the region’s trading systems.

It has features such as the smart order router, which will enable stockbrokers to view all markets and market information across the region, and the messaging feature that will allow market players to communicate.

However, for stockbrokers to trade, they will have to fulfil certain conditions including minimum capital requirements. For instance, a regional broker to be allowed to trade across the region will have to be capitalized at Rwf240 million.

Alternatively, for brokers to trade they would have to have “sponsored membership” in a local market where they want to buy stocks.

“It means you will have to sign an agreement with a broker in Dar es Salaam through which you can execute orders. This is because stock markets are still governed by regulations in host markets,” he noted.

Rwanda, which is looking to leverage the integration project to promote its capital market, started its bourse officially in 2011.

Other members in the region have had their stock exchanges for many years, except Burundi which is yet to establish one.

The joint stock market in East Africa follows in the steps of a similar regional effort in West Africa where Bourse Régionale des Valeurs Mobilières already exists.

The Abidjan-based electronic exchange which lists 45 companies is common to the eight-member states of the West African Economic and Monetary Union – Benin, Burkina Faso, Guinea Bissau, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.

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Zimbabwe: Delistings – Bigger Crisis in the Offing

zimbabwe delistings bigger crisis in the offing

THIS year has been one of the most eventful on Zimbabwe’s fragile capital markets.What with the government’s unpresented crackdown on three big ZSE counters with fungible stocks.

These were accused of undermining efforts to fight an inflationary scourge and terrifying price hikes.

At the time of the unprecedented onslaught on business in June, emotions were running high, and President Emmerson Mnangagwa’s government chose to shut down the entire ZSE to deal with Old Mutual, PPC and SeedCo International.

In the end, the economy lost ZW$240 billion (about US$3 billion) during five weeks of resentment and madness on the ZSE, even as the government intensified its hyped “Open for Business” campaign.

The government’s heavy handedness was shocking.

Investors queried the government’s seriousness about its “Open for Business” mantra if influential counters were openly resented and harassed.

The battering that the ZSE suffered in October confirmed the market’s verdict – Zimbabwe remains the most difficult market to trust.

This should have worried the government. But judging by the way it responded, nobody cared.

Farms have since been invaded and taken by force, for instance. For that, Zimbabwe has been punished. We wonder if the ZSE will attract new investment portfolio funds, and if companies still have the appetite to list under the circumstances. By harassing big investors, the government messed up.

Old Mutual and PPC are not penny stocks that we can push around without repercussions. This is why there has been a spate of delistings on the ZSE. It means the ZSE is on course for another dismal year of delistings. At least five companies have dropped from the ZSE this year, or are in the process of doing so, which sends bad signals to the investment community and soils the country’s image. The authorities are aware of this, but are too defiant to solve it because many a time those in high office have benefited from Zimbabwe’s crisis.

Last week, Powerspeed said it was exiting the ZSE, adding its name to a list of firms including Falgold, Dawn Properties, ZimRe Property Investments and SeedCo International that have exited or are in the process of leaving.

We can trace these delistings back to 2011 when august firms like TA Holdings Limited and CAPS Holdings Limited, the pharmaceutical outfit, Cambria, Chemco, Interfin Holdings, ABC Holdings, Cairns Holdings, Apex Corporation Limited, Tractive Power Holdings, Gulliver Consolidated Limited, Steelnet Limited, Lifestyle Holdings Limited and Trust Holdings Limited went the same way. Very little or no action has been taken to rectify the situation.

What we have witnessed on the ZSE must be a cause for concern.

The image of the ZSE determines how an economy is viewed elsewhere. Turmoil in the capital markets paints a bad image about a country’s investment climate. A stable and well-functioning ZSE builds up confidence among investors.