GTCO

Last week, a good number of corporate results were issued, many of them coming out strong and fairly impressive. That in part helped the market capitalisation of the Nigerian exchange appreciate by 2 per cent. Investors are awaiting the earnings reports of big-cap stocks like Dangote Cement, MTN Nigeria, BUA Cement and Nestle as well as those of four of the Big 5 lenders (United Bank for Africa, GTCO, Access Holdings and Zenith). The financial performance of these stocks are likely to shape the direction of the…

Profit-taking was a pressure point for Nigerian stocks in the week that just went by although the scramble moderated substantially compared to the penultimate week, when equities generally fell by 2.7 per cent. But moments of downturn like this when most stocks are experiencing price drop are often the best time to invest because equities become cheaper as the market slips into market correction, which strategic investors usually watch out to take entry positions. For instance, the…

Guaranty Trust Holding Company (GTCO) received a final approval for its payments unit HabariPay Limited from the banking industry watchdog Central Bank of Nigeria, the financial services group said in a note seen by PREMIUM TIMES on Friday. The milestone, which marks the latest effort at deepening financial inclusion in Africa’s biggest economy, gives GTCO the leave to venture into the largely untapped market of Nigerians underserved by financial services and could open up the informal…