Specifically, the market capitalisation of listed securities, which opened the week at N11.607 trillion, shed N90 billion or 0.8 per cent to close at N11.517 trillion yesterday.
Also, the All-share index depreciated by 240.08 points from 31, 125.39 to 30,885.31.

Wednesday’s decline was impacted by huge selloff in Oil & Gas, and Banking sectors, in which index declined by 3.28 per cent, and 0.35 per cent, respectively.

Analysts at APT Securities and Funds Limited said: “Equity market is expected to close northward week on week. Howbeit, the index might move either way in today’s trading section as yesterday’s bullish market breath suggested a likely turnaround.”

They noted that the downward trend persists amidst good fundamentals, which not unconnected to the low foreign participation, as foreign investors take a watch posit in anticipation of new economic reforms. They argued that there is no cause for alarm, as investors are encouraged to focus on liquid stocks that have been affected by downward trend, likewise dividend paying stocks bearing in mind that strong fundamental(s) is a good reason to position for mid to long term amidst dwindled stock price.

However, market breadth closed positive, with 24 gainers versus 16 losers. Sovereign Trust Insurance recorded the highest price gain of 10 per cent to close at 22 kobo, while Ikeja Hotel followed with a  gain 9.62 per cent to close at N1.71, per share.
Aiico Insurance appreciated by 9.23 per cent to close at 71 kobo, while Eterna and Mutual Benefits Assurance gained 9.09 per cent, each to close at N4.80 and 24 kobo, per share, respectively.

On the other hand, Skye Shelter Fund Leasing led the losers’ chart by 10 per cent to close at N85.50 per share. Champion Breweries followed with 9.68 per cent loss to close at N1.40, while Associated Bus Company shed 9.26 to close at 49 kobo, per share.

Consolidated Hallmark Insurance dropped 6.90 per cent to close at 27 kobo, while Royal Exchange shed 6.45 per cent to close at 29 kobo, per share.

The total volume traded rose by 17.51 per cent to 250.03 million shares worth N2.43 billion, traded in 3,869 deals.

Transactions in the shares of Access Bank topped the activity chart with 93.47 million shares valued at N638.54 million. Zenith Bank followed with 30.75 million shares worth N678.71 million, while United Bank for Africa (UBA) traded 24.59 million shares valued at N192.83 million.

FBN Holdings traded 19.84 million shares valued at N162.72 million, while Fidelity Bank transacted 12.16 million shares worth N28.86 million.

Businesses, individuals and not-for-profit foundations are leading a clean and affordable energy transition in developing countries, says Rachel Mountain from Energise Africa.

Investment from individuals, not-for-profit foundations and private companies can lead the transition to clean, affordable sources of energy in developing countries argues Rachel Mountain, Head of Marketing and Communications at Energise Africa.

Several reports were published in 2018 about the critical need for urgent action on climate change. First, the Intergovernmental Panel on Climate Change said in October that global warming could still be limited to 1.5°C but “rapid, far-reaching and unprecedented changes in all aspects of society” would be needed by governments around the world. The second was the UN’s Emissions Gap report published just before COP24, the UN climate change conference in Poland, in December.

This concluded that all governments must triple their efforts after emissions increased in 2018 following three years of stability. One glimmer of hope in the report was that untapped potential from innovation and green financing offer pathways to bridge the emissions gap, even in the face of political intransigence.

COP 24 was, overall, a lesson in political intransigence. The rule book was agreed to implement the Paris climate deal, but there was no accord on much needed deeper greenhouse gas emission cuts or mechanisms to help underpin and deliver these.So now what? Businesses, not-for-profit foundations and individuals working together can take action to fight climate change and move forward the energy transition. Platforms like Energise Africa, led by Ethex and Lendahand, two of Europe’s online impact investing platforms, are enabling people to invest directly in pioneering businesses that install life-changing solar systems in homes in sub-Saharan Africa. And accelerate universal access to affordable, reliable and clean energy for all as set out in the UN Sustainable Development Goal 7.
Energise Africa makes it possible to start investing from as little as £50 in bonds issued by solar businesses that are installing systems in rural, sub-Saharan African homes. This allows pay-as-you-go flexibility to households across Africa, bringing clean energy alternatives to families otherwise dependent on kerosene. The platform is also supported by a number of partners including UK aid, part of the UK government; Virgin Unite, the non-profit foundation of the Virgin Group; P4G, a network bringing together business, government, and civil society organisations in public-private partnerships; and the Swiss-based Good Energies Foundation. Many of these partners provide match funding to projects alongside individual investments.

The investments provide companies in Africa with the low-cost working capital they critically need to provide pay-as-you-go solar to low-income families. The collective impact of our community of investors, in only 15 months, has mitigated nearly 60,000 tonnes of carbon dioxide annually from the atmosphere and given nearly 250,000 people access to affordable solar energy in countries including Mali, Uganda, Burkina Faso, Mozambique, Uganda, Kenya, the Democratic Republic of Congo and Tanzania. In these countries, energy access rates can be as low as 17%.
Individuals who invest in projects via Energise Africa are able to track the social and environmental impact their investment is having on the ground and their own financial returns of around 6% annually. As with any investment, however, investors should be aware that their capital is at risk and returns are not guaranteed.

If enough people, supported and match-funded by foundations and private companies, invest some of their savings on the basis of environmental or social impact, and potential financial returns, we can create large pools of affordable finance to support mission-driven businesses and social enterprises across the world. Many of these provide innovation around low carbon technology which is critically needed.
We don’t need to wait for governments, individuals and businesses can use their money to drive real change today.

The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a “significantly ramped up ambition” to tackle climate change, “sending an important signal to the wider global community to do the same.”

Developed countries are committed to lifting combined annual public and private spending to $100 billion in developing countries by 2020 to fight the impact of climate change — up from 48.5 billion in 2016 and 56.7 billion last year, according to latest OECD data.

Southern hemisphere countries fighting the impact of warming temperatures are nonetheless pushing northern counterparts for firmer commitments.

In a statement, the World Bank said the breakdown of the $200 billion would comprise “approximately $100 billion in direct finance from the World Bank.”

Around one third of the remaining funding will come from two World Bank Group agencies with the rest private capital “mobilised by the World Bank Group.”

“If we don’t reduce emissions and build adaptation now, we’ll have 100 million more people living in poverty by 2030,” John Roome, World Bank senior director for climate change, warned.

“And we also know that the less we address this issue proactively just in three regions — Africa, South Asia and Latin America — we’ll have 133 million climate migrants,” Roome told AFP.

‘Fight the causes’
The bank’s financing package amounts to “about 40 billion a year, but the direct (finance) is 27 billion per year on average,” Roome said.

He added that in the 2018 fiscal year, running from July 2017 to June this year, the World Bank had committed $20.5 billion to climate action, compared with an annual average of $13.5 billion for the 2014-2018 period.

Roome said the money now being earmarked amounted to “about 35 percent” of the World Bank Group’s total financing.

Much of the climate action financing is being set aside for reducing greenhouse gas emissions, notably through development of renewable energy strategies.

However, the World Bank stated that “a key priority is boosting support for climate adaptation,” given the millions of people already battling the consequences of extreme weather.

“By ramping up direct adaptation finance to reach around $50 billion over (fiscal) 21-25, the World Bank will, for the first time, give this equal emphasis alongside investments that reduce emissions,” the bank stated.

Given the urgency to act in the face of sea level rise, flooding and drought “we must fight the causes, but also adapt to the consequences that are often most dramatic for the world’s poorest people,” said World Bank CEO Kristalina Georgieva.