Meristem Securities says they expect the performance of Nigeria’s industrial sector for the rest of the year to duly reflect the extent of the COVID-19 impact, mostly, through lower CAPEX and higher costs.
Nigeria’s National Insurance Commission (NAICOM), has approved the recapitalisation work plans of 26 insurance companies attempting to raise funds to meet the mandatory June 2020 recapitalisation deadline issued by the regulator. NAICOM stated that four companies do not have the required 2018 financial statements and have been advised to review their plans of using IPO. For a focus on Nigeria’s Insurance sector, Research Analyst at Meristem, Akinyele Ahmed joins CNBC Africa for more.
Come first of January next year, Nigeria's risk-based regime in the insurance sector will come to full effect, after the announcement of a new minimum capital requirement for different classes of insurance. Ahmed Jinad, Senior Analyst at Meristem joins CNBC Africa to discuss what to expect as the completion of the process draws nearer.