August 13, 2021/CSL Research In recent weeks, investors have continued to show apathy towards Ghana’s hard currency bonds, as the spread is relatively wider than those of its peers. For context, the Eurobond yield spread between Ghana ’49 and Nigeria ’47 is estimated at 160bps, 1.2x higher than the spread […]
OPINION/EDITORIAL
The Dividend from Raising the Rate of VAT
August 12, 2021/Proshare by FBNQuest Research Drawing upon data from the Federal Inland Revenue Service (FIRS), the NBS distributes a quarterly update on the collection of VAT. The most recent (for Q2 ’21) shows that the total collected breached the NGN500bn threshold for the first time and increased by 3.2% […]
Moribund Refineries: Time to Separate from an Unproductive Past?
August 12, 2021/CSL Research Based on a recent report from SBM Intelligence, the three refineries at Kaduna, Warri, and Port Harcourt have incurred a combined loss of N473.3bn between 2015-2021. Interestingly, the three refineries have yet to refine any crude product since 2019 and have made c. N185.0bn in losses […]
