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NSE opens week with N145bn growth on MTNN gain
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NSE opens week with N145bn growth on MTNN gain
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Covid-19 forces Nedbank to reset targets to 2023
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How
has the COVID-19 pandemic affected the Nigerian banking sector?
The COVID-19 pandemic came with lots of uncertainties regarding the duration, the extent of impact and how it will pan out in terms of impact on the overall economy and global supply chains and then the financial markets. There was quite significant uncertainty at the beginning but as various countries took steps quickly first on the health front through various lockdowns and protocols, the financial industry saw the need to take major steps to stimulate the economy to withstand the impact of such lockdowns and shocks to the system.
File Photo: Stocks
Last week the Ghana Stock Exchange commemorated its 30th anniversary having commenced trading on November 12, 1990. While there is plenty to celebrate in terms of its achievements as an institution for mobilizing long term capital for business financing and enriching investors in this process, most equity investors on the market currently are not particularly enthused with the way the values of the share holdings are contracting.
Between the start of 2020 and November 12, the GSE Composite Index (CSE – CI) which tracks the weighted average price change for all the equities listed on the stockmarket, had fallen by 19.29 percent while the GSE Financial Index (GSE-FI) which tracks the weighted average change in the financial services sector’s listed equities had fallen by 19.63 percent.