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NGX, CIPE to Boost Ethical Business Practices

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Ethical Business Practices

By Aduragbemi Omiyale

A collaboration aimed at deepening knowledge in the African business environment to promote ethical business practices has been entered into between the Nigerian Exchange (NGX) Limited and the Centre for International Private Enterprise (CIPE).

The exchange will through its specialized learning hub, X-Academy, engage companies in order to fill the capacity gap in corporate compliance expertise and to provide effective resources to help them translate their corporate ethics commitments to a robust system of compliance that ensures that they can conduct business with integrity.

It was learned that X-Academy will work with CIPE to provide companies of all sizes across Nigeria with practical solutions that will make the Nigerian corporate landscape safer for conducting business.

Through workshops and advisory services, participating companies in the program will be empowered to proactively reduce opportunities for fraud and other malpractice across their business processes.

In addition, the partnership will help galvanise business-led efforts to reduce the risk of corruption, boost shared prosperity in an economically sustainable manner and promote market-oriented values by advancing business ethics and integrity principles in companies and across the business environment. It will also enable the academy to deploy compliance and board evaluation consultancy for organisations.

“As a training hub contributing immensely to deepening knowledge across the capital and money markets in Nigeria, we consider it imperative to avail businesses and organisations with the appropriate training and tools that will help them attain globally acceptable transparency and accountability standards, which will, in turn, help them to attract global investment opportunities.

“To this end, NGX has partnered with CIPE, an organisation that has the pedigree and demonstrable track record of helping its stakeholders to navigate the often complex terrain of regulatory compliance and entrench good governance practices in their key activities – two key elements to actualise our goal,” the Head of NGX X-Academy, Ms Ugochi Obi, said of the partnership.

On her part, the Senior Program Lead for Africa at CIPE, Mrs Lola Adekanye, stated that, “We are thrilled to have a critical stakeholder in Nigeria’s business ecosystem join us to lay the foundation to create a more transparent and attractive business environment.

“Enabling compliance with sound business integrity practices is at the core of attracting investment and boosting growth in the country.

“CIPE is pleased to welcome NGX to the Africa Business Integrity Network (ABIN) and we look forward to leveraging our individual strengths to embed ethics and integrity in the business culture, and ultimately bring value to the Nigerian economy.”

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Jumia shares up 23% on back of possible Zinnox acquisition

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1652698806 747 Jumia logo

The share price of online e-commerce giant Jumia is up 14% in pre-market days after Naijaonpoint reported a possible acquisition bid by rival Zinnox Technologies, owners of Konga.

Shares of Jumia fell 11.32% on Wednesday to $4.78 as investors flee tech stocks amidst a market sell-off that has engulfed US Stocks. The share price is currently trading at $5.89 ahead of the market opening up from $4.78 when Naijaonpoint first reported a possible acquisition.

The share price is now up 23% since the reported possible acquisition plans.

Naijaonpoint had earlier reported that hat Chairman of the Zinox Group, and billionaire, Leo Stan Ekeh, has been scooping Jumia shares indirectly suggesting a possible acquisition could be in play if the opportunity arises.

Tech Stocks recorded a broad spectrum of losses last week as investors reacted to rising inflation and US FED action to hike interest rates. However, tech stocks seem to have rebounded on Thursday according to prices tracked via Seeking Alpha, a US-based Stock Market Website.

“According to Seeking Alpha, tech stocks like “Fiverr (FVRR +8.7%), Etsy (NASDAQ:ETSY +9.8%), Carvana (CVNA +22.1%), Shopify (NYSE:SHOP +6.4%), Coupang (CPNG +17.7%), Chewy (NYSE:CHWY +6.4%), and Wayfair (NYSE:W +5.0%), Jumia Technologies (JMIA +5.8%), and Blue Apron (APRN +5.9%), and more were some of the biggest gainers on the day” The move upward certainly breaks with the year-to-date trend for each, as each name save for Blue Apron (APRN) has been more than halved so far this year.”

Jumia is expected to declare its result on May 17th, 2022, and will host an investor presentation at 8:30 a.m. US Eastern Time on the same day.

... Jumia shares up 23% on back of possible Zinnox acquisition Read More on ... Naijaonpoint.

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Jumia shares up 23% on back of possible Zinnox acquisition

Published

on

Jumia logo

The share price of online e-commerce giant Jumia is up 14% in pre-market days after Naijaonpoint reported a possible acquisition bid by rival Zinnox Technologies, owners of Konga.

Shares of Jumia fell 11.32% on Wednesday to $4.78 as investors flee tech stocks amidst a market sell-off that has engulfed US Stocks. The share price is currently trading at $5.89 ahead of the market opening up from $4.78 when Naijaonpoint first reported a possible acquisition.

The share price is now up 23% since the reported possible acquisition plans.

Naijaonpoint had earlier reported that hat Chairman of the Zinox Group, and billionaire, Leo Stan Ekeh, has been scooping Jumia shares indirectly suggesting a possible acquisition could be in play if the opportunity arises.

Tech Stocks recorded a broad spectrum of losses last week as investors reacted to rising inflation and US FED action to hike interest rates. However, tech stocks seem to have rebounded on Thursday according to prices tracked via Seeking Alpha, a US-based Stock Market Website.

“According to Seeking Alpha, tech stocks like “Fiverr (FVRR +8.7%), Etsy (NASDAQ:ETSY +9.8%), Carvana (CVNA +22.1%), Shopify (NYSE:SHOP +6.4%), Coupang (CPNG +17.7%), Chewy (NYSE:CHWY +6.4%), and Wayfair (NYSE:W +5.0%), Jumia Technologies (JMIA +5.8%), and Blue Apron (APRN +5.9%), and more were some of the biggest gainers on the day” The move upward certainly breaks with the year-to-date trend for each, as each name save for Blue Apron (APRN) has been more than halved so far this year.”

Jumia is expected to declare its result on May 17th, 2022, and will host an investor presentation at 8:30 a.m. US Eastern Time on the same day.

... Jumia shares up 23% on back of possible Zinnox acquisition Read More on ... Naijaonpoint.

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