NGX | Afrinvest Weekly Recommendation - October 4, 2021

In tandem with our expectation, the local bourse extended its positive performance last week on buying interest in DANGCEM (+14.3%), ZENITH (+2.6%), and FBNH (+7.3%). Accordingly, the All-Share Index rose 3.2% w/w to 40,221.17 points. Meanwhile, YTD loss improved to -0.1% and market capitalisation rose ₦655.9bn w/w to ₦20.9tn.


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Afrinvest (West Africa) Limited is a leading independent investment banking firm with a focus on West Africa and active in four principal areas: investment banking, securities trading, asset management, and investment research. Afrinvest owns two operating subsidiaries namely: • Afrinvest Securities Limited (ASL) which is a broker-dealer and a dealing member of the Nigerian Stock Exchange (“NSE”): and • Afrinvest Asset Management Limited (AAML) which is licensed as a portfolio manager and is the Fund Manager of two mutual funds listed on the NSE, the Nigerian International Debt Fund (NIDF) and the Afrinvest Equity Fund (AEF).
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