A. Stock market skyrockets by N1.67 trillion as "Tinubunomics" gains traction 📈

President Bola Tinubu's economic policies, aka "Tinubunomics," are causing waves in Nigeria's economy, and the impact is off the charts! 🌊 No wonder the capital market, which measures the economy's pulse, is having an amazing time! 💪

In just 4 days, the Nigerian equities market has witnessed a jaw-dropping increase of N1.67 trillion in market capitalization! 💰💥

But hold your horses, folks! After the market rallied for three consecutive days, some investors decided to take their profits, causing a slight dip—the first loss of momentum since the suspension of former CBN Governor Godwin Emefiele 😯

Let's break it down with some examples:

📉 Access Corporation's shares took a hit, dropping from N15.70 to N14.25—a massive decline of N1.45 or 9.24%! 😱

📉 Cornerstone Insurance had a tough time too, with its share price falling from N1.13 to N1.02—a drop of 11 kobo or 9.73%! 📉😢

Thursday's decline halted the recent surge that was fueled by Emefiele's suspension and the CBN's plan to float the naira. 🛑📉

B. Kenyans abroad go digital: Mobile phones become a bond-buying tool! 🌍📱💸

Exciting news for our Kenyan friends living abroad! 🎉 Kenya is introducing an electronic over-the-counter trading platform for Treasury bills and bonds, making it super easy for you to buy and sell government securities online! 🤩💼

Dr Patrick Njoroge, the outgoing CBK Governor, predicts that this platform could attract over Sh400 billion in remittances from Kenyans abroad into government debt! 💰🌐

Until now, most of these funds were used for essential expenses like medical costs, rent, education, and utilities. But with this modernization, you can now invest in Treasury bills and bonds without the need to physically come back to Kenya! 🌟💪

Since 2015, Kenyans living abroad have been the top source of foreign cashflows, beating tourism, investments, and even horticulture and tea sales! ☕️🌴💼

C. Startups face a challenge: Nigeria's Unified FX Rate and revenue reporting 📊💸

Attention, startups! 🚨 A big change has hit the scene: Nigeria has introduced a unified Foreign Exchange (FX) rate, replacing the previous dual-exchange rate system. 🔄

While this brings benefits like streamlined FX processes and greater transparency, it also poses a significant hurdle for startups reporting revenue in foreign currencies. 😓💱

Get ready for some adjustments, folks! Startups may need to adapt to new reporting requirements and fine-tune their financial strategies. It might be a bumpy road, but we're here to guide you through it! 🛠🚀

If you have any questions or need assistance, don't hesitate to reach out to our dedicated team! We've got your back! 💪📞

Stay tuned for more updates and keep rocking those investments! 🤘✨

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