Business

Cadbury, Others Lift All Share Index By N44bn

Published

16 years ago

July 23, 2010

Price gainers continued to outweigh losers on the trading floor of the Nigerian Stock Exchange (NSE), as more stocks joined the league of gainers, resulting in further increase in market capitalisation by N44 billion.

Turnover also recorded significant increase as 347.4 million shares worth N2.2 billion changed hands in 6,596 deals, higher than 268.4 million units valued at N2.3 billion exchanged in 6,914 deals on Tuesday.

Specifically, at the close of transactions on Wednesday, 34 stocks witnessed price appreciation, compared to 19 that constituted the losers chart in the day.

The development impacted 0.7 per cent increase on the performance indicators with the market capitalisation rising by N44 billion from N6.061 trillion to N6.105 trillion, while the All-share index inched up by 179.14 basis points to close at 24,963.99 points from the previous 24,784.85 points.

Chemical and Allied products Plc topped the gainers chart with N1.50kobo increase to close at N33.00 per share, followed by Cadbury Nigeria Plc with N1.35kobo gain to close at N28.35.

Flourmills Nigeria Plc, Dangote Sugar and National Salt Company of Nigeria (NASCON) that were the last three on top five gainers table notched up by N1.00kobo, 62kobo, and 36k obo to close at N76.00, N18.22 and N7.56 per share respectively.

Other gainers included Dangote Flourmills Plc, First Bank of Nigeria Plc, GuarantyTrust Bank Plc,Skye Bank Plc, Constain West African Plc, Union Bank Of Nigeria Plc, Nigerian Aviation Handling Company Plc, First City Monument Bank Plc ,Ecobank, Transcorp Plc, Sterling Bank Plc, Diamond BankPlc, Zenith Bank Plc, AfriBank Plc and IPL Plc adding 30 kobo,30 kobo,30 kobo,30 kobo,27kobo,24kobo,20kobo,17 kobo,12 kobo, ten kobo,ten kobo ,ten kobo, nine kobo and nine kobo to close at and N7.89 per share respectively.

On the other hand, Nigeria Bottling Company led on the losers table, dropping by N1.40kobo to close at N31.00 per share, followed by Lafarge WAPCO with 47kobo decrease to close at N40.53 per share, while Unilever, Presco and Vitafoam lost 34 kobo, 28 kobo and 27 kobo to close at N23.66, N5.35 and N6.00 per share respectively among other losers.

Accounting for the volume of transactions yesterday, the banking sub-sector dominated in volume terms with 239.2 million shares worth N1.2 billion in 3,473 deals.

The conglomerates sub-sector followed with 24.9 million units valued at N144.6 million in 254 deals, while the insurance sub-sector ranked third with 19.2 million units worth N18.8 million exchanged in 263 deals.

Transactions in the shares of Bank PHB Plc boosted activities in the banking sub-sector with 78.3million shares worth N112.8million in 114deals followed by Sterling Bank Plc with 41.8million units valued at N87million in61deals.

Similarly, Transcorp Plc’s 20.8million units worth N10.4million energized activities in the conglomerates sub-sector while Unilever Nigerian Plc’s 1.9million units worth N45million followed in 86deals.

For the insurance sub-sector, Law union and Rock Plc’s 3.6million shares worth N1.8million enhanced activities in the sub-sector while Aiico insurance 2.9million units worth N3.4 million followed in 93 deals.

Business

NEM Insurance celebrates IWD 2026 with pledge to sustain support for women endeavour

Published

21 hours ago

March 16, 2026

The Tide

NEM Insurance Plc – the number one motor insurance provider in Nigeria, in a vibrant commemoration of the 2026 International Women’s Day (IWD), has reaffirmed its dedication to fostering an inclusive environment that empowers women to excel in their endeavours.

Speaking at the corporate headquarters in Lagos, the Chairman of NEM Insurance Plc, Tope Smart, stated that the company remains resolute in its mission to support women affairs, noting that their contributions are vital to the sustainability of the insurance industry.

Aligning with the global theme “Give To Gain,” Smart highlighted that the insurance provider views gender diversity not just as a corporate social responsibility, but as a core driver of innovation and high-level performance.

“Our commitment to female professionals at NEM Insurance is unwavering,” Smart declared. “We recognize that by ‘giving’ women the right tools, mentorship, and leadership platforms, the industry ‘gains’ unparalleled dedication and diverse perspectives that move the needle of progress.”

The multiple award winning underwriting company and one of the top three leading general insurance business companies in Nigeria, has remained focused in promoting and supporting women affairs.

Adding her voice to the celebration, the General Manager, Corporate Services, Mrs. Mojisola Teluwo, emphasized that the company’s gender-focused initiatives, such as the “She Means Business” contest, represent a practical approach to inspiring inclusion.

Mrs. Teluwo maintained that supporting women-led initiatives is a strategic investment in the fabric of society, rather than just a philanthropic gesture.

“At NEM Insurance, we believe that when a woman thrives, a family thrives, and the nation prospers,” Mrs. Teluwo stated. “The ‘She Means Business’ initiative is our way of moving beyond mere applause for women toward active, tangible support. We are proud to provide the financial catalyst needed for visionary women to turn their business aspirations into reality.”

To mark the occasion, the leadership outlined several key pillars of support:

Leadership Development: Targeted training programs to prepare more women for executive-level decision-making.

Inclusive Work Culture: Sustaining a workplace environment that balances professional growth with personal well-being.

Economic Catalyst: Providing grants and professional frameworks to help female entrepreneurs upscale their operations.

The event featured a series of internal sessions where female staff engaged in mentorship dialogues, focusing on career advancement within the evolving landscape of the Nigerian insurance sector and paint and Sip, which provided an opportunity for women to showcase their creativity.

Smart concluded by urging other industry stakeholders to prioritize the development of female talent, asserting that a more inclusive sector is a more prosperous one for all Nigerians.

Business

Nigeria: Profit-Taking Persists as NGX Dips Marginally by 0.2%

Published

21 hours ago

March 16, 2026

The Tide

Trading on the Nigerian Exchange (NGX) closed slightly lower on Wednesday as profit-taking in selected equities continued to weigh on the market, dragging key performance indicators into negative territory.

Market data showed that the benchmark All-Share Index (ASI) declined by 0.09 per cent to close at 195,898.53 points, compared with the previous session’s level, as investors booked profits in some large and mid-cap stocks.

Consequently, market capitalisation shed N107.57 billion, settling at N125.75 trillion. Despite the marginal decline, the market still maintained positive returns, with the month-to-date gain standing at 1.6 per cent, while the year-to-date return moderated to 25.89 per cent.

The downturn was largely driven by losses recorded in stocks such as Presco Plc and UAC of Nigeria Plc, both of which declined by 10 per cent, alongside Dangote Cement Plc, which slipped by 0.6 per cent.

Market breadth closed negative, reflecting bearish investor sentiment, as 40 stocks recorded losses compared with 29 gainers, translating to a market breadth ratio of 0.7 times.

Among the top gainers were NGX Group Plc and Premier Paints Plc, which appreciated by 10 per cent and 9.9 per cent respectively. Other notable gainers included Omatek Ventures Plc, Prestige Assurance Plc and HMC Allied Plc.

On the losers’ chart, Presco Plc and UAC of Nigeria Plc led the decline with 10 per cent losses each, followed by Morison Industries Plc, LivingTrust Mortgage Bank Plc and SCOA Nigeria Plc.

Sectoral performance was mixed, with the Industrial Goods index leading the gainers after advancing by 1.42 per cent, while the Banking index recorded a marginal gain of 0.04 per cent.

Conversely, the Commodities sector topped the laggards, declining by 1.30 per cent. The Insurance index fell by 0.44 per cent, the Consumer Goods index dipped by 0.43 per cent, while the Oil and Gas index edged down by 0.06 per cent.

Activity level on the exchange weakened as investors traded a total of 671.27 million shares valued at N26.13 billion in 58,792 deals.

This represents a decline of 8.61 per cent in volume, 5.18 per cent in value and 9.31 per cent in the number of transactions compared with the previous trading session.

Wema Bank Plc emerged as the most actively traded stock by volume and value, accounting for 106.36 million shares worth N2.75 billion.

Analysts said the cautious mood in the market reflects continued portfolio rebalancing by investors following the strong rally recorded earlier in the year.

They noted that trading may remain mixed in the near term as investors react to corporate earnings releases and macroeconomic development.

Business

Wema Bank Admits 10 Startups into Hackaholics 2026

Published

21 hours ago

March 16, 2026

The Tide

Wema Bank has admitted 10 Nigerian startups into the 2026 edition of its Hackaholics Accelerator Programme as part of efforts to strengthen innovation, entrepreneurship, and sustainable business growth in the country.

The 10 cohort selected startups for the 2026 edition such as; Farmslate, Ploy, Stocmed, Feest , Varsityscape, MamaAlert, Sane, Cyclex, Kieva and Loocomo were drawn from the top performing finalists of Hackaholics 6.0.

The Hackaholics Accelerator, a selective growth programme under the bank’s Hackaholics platform, is designed to help promising startups reinforce their business foundations while preparing them for scalable growth and investment readiness.

Wema Bank said the programme represents a strategic expansion of its support for innovators, moving beyond ideation and competition to hands-on startup development after six years of driving innovation through the Hackaholics initiative.

According to Wema bank, the accelerator provides founders with structured mentorship, industry guidance and access to networks required to transform innovative ideas into viable and scalable businesses.

Speaking at the programme, Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said the accelerator demonstrates the bank’s commitment to supporting founders beyond the early stages of innovation.

He noted that Hackaholics has evolved from a competition into a platform that showcases Nigeria’s entrepreneurial potential and technological creativity. Where he explain that the second edition of the accelerator focuses on helping founders transition from ideation to building sustainable business capable of long trem projects .

“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,”Oseni said.

Oseni stressed that the startups selected are representing some of the most promising solutions emerging from the Hackaholics ecosystem, and the back remain committed to helping them refine their business models, strengthen their operational foundations, and scale their impact.

Also speaking at the program , Wema Bank’s Chief Transformation Officer,Mr. Babatunde Mumuni, said the accelerator would guide founders through a structured process aimed at strengthening their operations and positioning them for sustainable growth.

As part of the programme, startups founders will participate in intensive training sessions facilitated by industry experts across key areas of business growth. Facilitators include Wema Bank executives such as Chief Transformation Officer, Babatunde Mumuni; Head of Strategy and Investor Relations, Femi Akinfolarin; Head of Data Transformation, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Oluwatoyin Adetunji. While External facilitators include Managing Director of Impact Hub Lagos, Idowu Akinde; Managing Director of B4B Partners, Napa Onwusa; startup advisor and scout, Onaopemipo Dara; Google for Startups mentor, Rosemond Phil-Othihiwa; Head of Growth at Africhange, Tega Ogigirigi; and startup advisor and mentor, Ademola Adewuyi.

The Hackaholics Accelerator is also supported by Wema Bank’s broader innovation ecosystem, including IDEAx Labs, the bank’s innovation and venture platform, and its corporate venture programme focused on enabling startup growth through partnerships, infrastructure and access to capital.

Since its launch in 2019, Hackaholics has grown into one of Nigeria’s leading youth innovation platforms, attracting more than 15,000 applicants and supporting hundreds of digital solutions across multiple sectors.

Through the initiative, Wema Bank said it has disbursed more than $400,000 in funding to young innovators and startup founders nationwide.

Previous participants such as Feegor, Myitura and Bunce have emerged from earlier editions of the programme, highlighting the accelerator’s focus on nurturing growth-ready companies. Meanwhile the 2026 edition builds on this progress by supporting startups as they transition from innovation to sustainable business growth.