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Hello <<First Name>>,

It’s the last day in November which wraps up a great week, a week which brought with it Thanksgiving in the US and Black Friday all over the world.
Did you miss out on a few deals Yesterday? Cyber Monday is happening just because of you.

Also, once in a while our emails drop in the wrong place, if you haven’t received any of our previous emails, please let us know, we’re getting some complaints about that. 

Let’s dive into the news 😊



Now that’s a lot of money left on the Table



N126.03 billion –  that's the value of unclaimed dividends as of March 2019.


Remind me what are unclaimed dividends?

Dividends are a sum of money paid regularly (typically annually) by a company to its shareholders out of its profits (or reserves), While Unclaimed dividends are dividends that have already been paid by the company, but have not been taken, or claimed, by the shareholder-


Why are people leaving this much money on the table?

Forgetfulness, death of shareholders, difficulty in claiming the dividends Laziness...


What happens to these unclaimed dividends?

Step 1: The companies try to remind shareholders who haven’t claimed their dividends that there’s money waiting for them.

Step 2:  After three months of giving shareholders notice, the company may invest the unclaimed dividend for its own benefit in investment outside the company.


Step 3: The companies wait 12 years for the owners to claim their dividends while it’s most likely still being reinvested. After 12 years, the unclaimed dividends belong to the companies.


What you can do?

Did you invest in Nigerian stocks a long time ago and want to follow up on your unclaimed dividends? Check the SEC e-dividend site and follow the instructions there.

How Nigeria’s economy is performed in the 3rd Quarter 


N18.49 trillion...Nigeria's real GDP for the 3rd quarter

Nigeria's Gross Domestic Product (GDP) grew by 2.28% compared to the previous year. Also, relative to the second quarter of 2019, which recorded a growth rate of 2.12%, the last three months represented some improvements. 

Let’s break it down

Starting from the highest to lowest...

The oil & gas sector grew by over 6% compared to the previous year, driven by a rise in oil production from 2.02 million barrels a day (mb/d) in Q2’2019 to 2.04 mb/d in Q3’2019. However, the growth experienced here is subject to the terms and conditions of OPEC, a global cartel of oil-producing nations informally led by Saudi Arabia; the group has been trying to restrict global oil supplies to prop up oil prices. 


The agriculture sector is still growing somewhere between 2% and 3%. Considering the fact that it should be the major growth driver for Nigeria’s economy, it’s not encouraging. To see what a growth driver should look like, we can look at China. Between 1978 and 2006, the manufacturing sector grew by 11.6% on average each year.

The services sector (60% of the economy) is growing at around 2%.

Most of this growth in services is coming from one industry: telecoms. Telecoms account for 18% of services, 9% of the entire economy, and grew by over 12% in this past quarter.

What this means is that the only thing doing really well in Nigeria is the digital economy. However, even at that government policies have been moving against this sector. Remember the Senate is considering a 9% tax on all communication services in Nigeria and the Central Bank of Nigeria is looking at capital requirements as high as ₦5 billion for Fintech companies.

Other sectors such as the manufacturing sector are growing by 1% or less, while a couple of others like Trade and Real estate shrank.

Zoom out:

As per Stears Business “The good news is that the Nigerian economy has stabilised since the 2016 recession and there should be little fear of another one. The bad news is that the economy has stabilised at an abysmal growth rate between 2% and 2.5%.

What other countries have a medium-term growth rate of 2%? Canada and Russia stand out. How big are their economies? $1.7 trillion and $1.6 trillion. How big is the Nigerian economy? $440 billion.”

When tech and education come together…

Nigerian startup, uLesson, has secured a $3.1 million dollar seed capital (a seed capital is a form of securities offering where the investor invests capital in a startup in exchange for an equity stake or a convertible note stake) from TLcom Capital, an African venture capitalist notable for its investment in other startups like Twiga Foods, Andela and Kobo360.


Tell me more

While the startup has created over 3000 richly animated and personalized learning modules tailored to the WAEC curriculum on its mobile platform, its Android-based mobile application also provides Secondary School students with personalized test systems in core subjects such as Math, Physics, Chemistry and Biology. To adapt to the high costs of data, The app uses an SD card so students can download regularly updated content from the web and study offline. The app is available on a subscription basis where users can make monthly payments of $5 or take a down payment of $70 for a year.


Big Picture

The product is expected to bring major disruption to the industry as most Ed Tech start-ups such as Tuteria and Eneza education are focused on linking students with tutors. It is due to roll out in the first quarter of 2020.


Senegal is taking businesses seriously

Senegal seems to be on its way to attaining a more structured environment for new businesses.


What did they do?

They drafted a Startup Act which will form the foundation of business growth and innovative development in the country.


What is the Startup Act?

Startup Act is more like written conditions approved by a country’s legislature, which seeks to aid new businesses and promote existing ones to improve a country’s economic state and employ more people.



Yes, even more interesting, the bill which was drafted by top policy and innovative companies like World Bank, African Development Bank, etc, has been adopted by the country’s public ministries.


So how does this help their country?

The Act is said to contain laws that will guide business operations and help promote innovations for new businesses. 


Zoom Out: Senegal is now following the path of Tunisia whose Startup Act was signed into law in 2018. The Malian government has one time made an effort to draft its own Startup Act.


Do you think other African countries will join the bandwagon?

Africa is young but its leaders are Old



The typical African political leader is old, male and in many cases of questionable legitimacy. 


Tell me more

According to African Insider, of 90 presidents, prime ministers and other top-rank politicians on the continent, only two are female. The median age is 62 years, compared to the median age of 19 for the entire population of the continent. 


How they came into power

Of the 57 politicians who can be considered to lead their country's respective executive branch of government (including those of Somaliland, the Sahrawi Republic and the Chair of the African Union Commission), 25 originally came to power under extra-constitutional circumstances like coups and fraudulent elections, changed constitutional term limits to their own benefit, or were preceded by a close relative, usually their father, in office.


However, African leaders aren’t the oldest in the world.

Oldest serving Male leader: Mahathir Mohamad, Prime Minister of Malaysia, 94 years.

Oldest serving Female leader: Elizabeth II, Queen of the United Kingdom and 15 other countries, 93 years.


Dig Deeper: Data on African Leaders


Bravo! A part of Man City sold for $500M 



Most people around the world watch English football, it’s the most popular football league. Whether you follow English football or not have you ever stopped to think about just how much money the guys behind the curtains rake in?

Tell me something I don’t know.

Alright then. Abu Dhabi-controlled City Football Group (CFG), owners of English club Manchester City, is selling a $500 million (10 per cent) stake to a US-based private equity firm Silver Lake, increasing the football club owner’s value to $4.8 billion.


Let’s break this down further.

A private equity is a different investment class consisting of capital not listed in a public exchange. Simply put, you can’t participate in this banquet. That said, Silver Lake aims to hold this stake for the next ten years-that is, if they don’t sell it to another private investor.

It’s worth noting that SIlver Lake has been looking to buy into soccer companies for a while. After approaching numerous European football clubs including Chelsea Football Club, they finally settled with CFG. And, if you ask us, that’s definitely a stroke of luck-considering that Manchester City just marked their 11th consecutive year of revenue growth under CFG after drawing in record revenue of £535.2 million.


On the long term, we’re curious about two things: one, if this deal will be entirely profitable for both parties; two, if you’ll suddenly become a fan of Manchester City. 🤔


Let’s dominate our space, shall we?

It’s no surprise that Best Buy, a US-based consumer electronics retailer, has decided to live up to their ‘name’ by ensuring that their customers get only the best.


What’s up with them?

After reporting superb results on Tuesday, Best Buy’s retailer shares rose by over 10% to reach their highest valuation of all time.


Why is this important?

It’s not just important; it’s dramatic. Here’s the thing: US consumer spending is decelerating fast, faster than even economists had predicted. In fact, recent data show that it’s also affecting Best Buy’s main market-electrical appliances. So, how has the company tackled this? Well, they’ve invested in subscription-based repair and tech support services where online retailers like Amazon remain in the backseat, thus helping them remain on top of their game. They’ve also diversified into healthcare tech--an idea by their new CEO which has paid off thus far.


What’s even more spectacular about Best Buy is that they’ve remained focused on their target market--that is, “customers at or slightly above median income” according to Wedbush analyst Michael Pachter. Their 15% growth in online sales last quarter further proves that they’re doing their homework.


Seems like it’s gonna be a memorable Christmas! 🎄

Who needs real clothes when you can buy digital Clothes



A company called Carlings offers a pair of high-fashion clothes, but there's a twist to that, they are digital. To be clear, that means they literally don’t exist in real life.


Here’s how it works, according to the company’s website

  1. Take a picture of yourself; 

  2. Choose a product from the webshop; 

  3. Upload your picture;

  4. 3D tailor adjusts your picture to feature your new purchase; 

  5. Share on social. 


And voila — an Instagram-worthy photo.

Big Picture: According to Carling, these digital clothes are an environmentally responsible alternative to help reduce the fact that every second, the world wastes a garbage truck full of clothes.

Aww, How thoughtful 😊

Worth Reading 📚


 Waiting for Obama

The tragic data behind Black Friday deaths

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