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AirtelBusinessTelecommunicationsWestern Africa

Airtel Africa enables subsidiaries to make donations to political parties, candidates

by Radarr Africa
written by Radarr Africa

Airtel Africa resolved at its Annual General Meeting (AGM) that itself and all its subsidiaries “be generally and unconditionally authorized” to give political donations to political parties or independent election candidates, with the sum not surpassing £25,000 (about N12.5 million).

The telco heavyweight and its units are also at liberty to make donations not more than that sum to political organisations that are not political parties and “incur political expenditure not exceeding £25,000 in total”, according to resolutions reached at its AGM on Tuesday.

Airtel Africa is Nigeria’s biggest company by market capitalization, its market value standing at over N6.5 trillion at market close on Thursday.

The development comes as Nigeria, Airtel Africa’s largest market, prepares to go to vote in 2023, while Kenya, Angola and Senegal warm up to conduct general elections this year. Airtel Africa does not have a presence in the last two.

ALSO READ: Airtel Africa, Eco bank, Stanbic IBTC top stocks to watch this week.

Airtel Africa and its subsidiaries could make the donations “during the period beginning with the date of the passing of this Resolution (28th June, 2022) and ending at the end of the next Annual General Meeting of the Company or, if earlier, on 27 September 2023,” the wireless carrier said in a document seen by PREMIUM TIMES.

The money could be made up of one or more sums in different currencies which, for ease of conversion, shall be converted into “pounds sterling at the exchange rate published in the London edition of the Financial Times  on the date on which the relevant donation is made or expenditure incurred (or the first business day thereafter) or, if earlier, on the day in which the Company enters into any contract or undertaking in relation to the same.”

Airtel Africa is to launch its payments service bank operations this week and is listed at £1.35 and N1,732.40 per share in London and Lagos respectively.

Source: Premium Times

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Banking, Finance & InvestmentBusinessINVESTMENTSouthern Africa

Ecobank, Access Holdings, Cornerstone top stocks to watch this week

by Radarr Africa
written by Radarr Africa

Nigerian stocks last week were slightly up by 0.55 per cent after seeing a slide the previous week, underscoring the strong appeal of equities to investors at a time of upward rate adjustment.

As fund managers and investors position ahead of half-year results, the key considerations for making investment decisions will revolve around fundamentals and potential like strong earnings power and incentives like dividend and scrip issue.

PREMIUM TIMES has assembled a number of stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.

The selection, a product of analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that equities will gain value with the passage of time, particularly in the short term.

This is not a buy, sell or hold recommendation but a stock investment guide. You may have to involve your financial advisor before taking investment decisions.

ALSO READ: Presco, Learn Africa, UBA top stocks to watch this week.

ACCESS HOLDINGS

Access Holdings tops this week’s pick on its recent push to expand its footprints in East Africa’s biggest economy by way of its planned buyout of Nairobi-based Sidian Bank.

The lender’s price-to-earnings (PE) ratio at the end of the last trading session was 2.1x, while its earning per share  (EPS) is N4.58.

ECOBANK TRANSNATIONAL INCORPORATED (ETI)

ETI makes the pack for currently trading substantially below its intrinsic value. The lender’s PE ratio as of Friday was 2.4x, while the EPS is N4.66.

CORNERSTONE INSURANCE

Cornerstone features on the pick this week for currently trading significantly below its real value. The underwriter’s PE ratio as of Friday was 3.4x, while the EPS is N0.18.

CUSTODIAN INVESTMENT

Custodian Investment appears on the selection for trading well below its intrinsic value, making it a good entry point for investors. The PE ratio as of Friday was 3.5x, while the EPS is N1.97.

LEARN AFRICA

Learn Africa makes this week’s selection for currently trading well below its actual value

The publisher has an EPS of N0.59 and a PE ratio of 3.7x at the last trading session.

VITAFOAM

Vitafoam features on the pick for trading significantly below its real value, brightening it chances of seeing a good price appreciation in future.

The company’s PE ratio was 5.2x as of the end of the last trading session, while its EPS is N4.32.

Source: Premium Times

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AfricaAirtelBanking, Finance & InvestmentStanbic IBTCWestern Africa

Airtel Africa, Eco bank, Stanbic IBTC top stocks to watch this week

by Radarr Africa
written by Radarr Africa

Sterling Bank and Sovereign Trust Insurance also made the list.

The Nigerian bourse saw a surge of 4.25 per cent last week, with the NGX 30 (the index that tracks the top 30 stocks by liquidity and market capitalization) touching an unprecedented height, both affirming investors’ renewed faith in stocks.

A number of first quarter earnings reports were issued and a couple of them were strikingly impressive, boosting confidence.

PREMIUM TIMES has assembled a number of stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.

The selection, a product of market analysis, offers a guide to entering the market and taking strategic positions in hopes that equities will gain value with the passage of time, particularly in the short term.

This is not a buy, sell or hold recommendation but a stock investment guide. You may have to involve your financial advisor before taking investment decisions.

AIRTEL AFRICA

Airtel Africa tops this week’s pick on the basis of recording an 82 per cent jump in after-tax profit to $755 million for 2021.

The wireless operator’s revenue surged by 20.6 per cent to $4.7 billion within the period.

ECOBANK TRANSNATIONAL INCORPORATED (ETI)

ETI appears on the selection for trading well below its intrinsic value. The lender’s earnings per share (EPS) at the end of the last trading session was N4.65, with a price to earnings (PE) ratio of 2.78x.

STANBIC IBTC HOLDINGS

Stanbic IBTC makes this week’s selection for currently trading at its lowest price level in 52 weeks, making it a good entry point for investment.

The stock is priced at N33 per unit, with an EPS of N4.54 and a PE ratio of 7.71x.

SOVEREIGN TRUST INSURANCE

Sovereign Trust features on the pick for trading significantly below its real value, brightening its chances of seeing a good price appreciation in future.

The underwriter’s PE ratio was 3.03x as of the end of the last trading session, while its EPS is N0.09.

UNIVERSITY PRESS PLC (UPL)

UPL features in the pack for currently trading well below its intrinsic value. The company’s PE ratio as of Friday was 3.83x with a EPS ratio of N0.77.

STERLING BANK

Sterling Bank makes the selection for currently trading significantly below its actual value, which makes it cheap for investment. Its PE ratio at the last trading session was 3.01x while its EPS is N0.51.

Source: Premium times

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