Nigerian Capital Market Update
pwc
Nigerian Capital Market Update - September 2020
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Overview
Equities market
Activities in the commercial papers market maintained its upward
trajectory as more blue chip companies continue to access short-
term funding from a diversified investor base through the capital
market and on favourable terms. As at June 2020, N539.8 billion has
been raised from 45 issuances by 16 corporates compared to N296.8
billion raised in 33 issuances in H1 2019.
Commercial Paper Activity (2014 - H1 2020)
In terms of industry spread, the financial services sector accounted
for 32% of the proceeds raised as at H1 2020, followed by the
consumer goods sector representing 26% of total proceeds. Dangote
Cement and MTN Nigeria accounted for 36% of total proceeds, with
each raising N100 billion from the commercial paper market.
Commercial paper issuance by sector, June
2020 YTD
Debt market
Commercial papers
Nigerian capital market: summary
of major events year-to-date
What lies ahead
About us
Nigerian capital market update - September 2020
PwC
N'Billion
600
500
400
300
70
60
60
45
50
37
35
40
25
200
30
20
100
6
3
10
# of transactions
IN WA
114
221
402
492
540
0
0
2014
2015
2016
2017
2018
2019 H1 2020
Commercial paper value (N'bn)
Commercial paper volume
26%
4%
1%
18%
19%
32%
■ Financial
services
- ICT
■Industrial goods
■ Oil & Gas
■ Consumer goods
■ Construction/real
estate
Source: FMDQ
September 2020
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