Culled—Proshare Event: United Bank for Africa (UBA) reports Q3 2016 results Implications: Slight positive reaction by the market likely Positives: Q3 PBT up 16% y/y, 18% ahead of our estimate Negatives: Limited to opex growing 25% y/y, surprising negatively by 27% UBA’s Q3 2016 results which were released this morning […]
Updates
SEC Reacts to NECA’s Flay on Quoted Companies Sanctions
October 11, 2016/SEC The attention of the Securities and Exchange Commission (“SEC”) Nigeria has been drawn to a publication in The Guardian newspaper of Friday October 7, 2016 on the above caption “RE: NECA FLAYS SANCTIONS ON QUOTED COMPANIES BY SEC”. We hereby wish to put the issues in proper […]
South African finance minister to face fraud charges, rand plunges
October 11, 2016/Reuters By Joe Brock South African prosecutors on Tuesday ordered Finance Minister Pravin Gordhan to appear in court on Nov. 2 over allegations he broke public finance rules by granting a colleague early retirement, news that sent the rand and share prices reeling. The currency dropped as much […]
