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Global X Funds Launches 1st Nigeria ETF, Another in Asia

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Global X Funds, the New York based provider of exchange traded funds, yesterday launched the Global X Nigeria Index ETF and the Global X Central Asia & Mongolia Index ETF on NYSE Arca.

Both funds are first to market ETFs for their respective regions and will build on Global X Funds tradition of providing  exchange-traded funds that facilitates access to investment opportunities across the global markets.

The Global X Nigeria Index ETF (NGE) provides exposure to the largest and most liquid companies in Nigeria as well as companies that derive a significant amount of revenues from the country, giving investors a cost-efficient way to access a country with significant long-term growth potential.

Goldman Sachs has included Nigeria in its “Next 11” economies, which are defined as a group of large, fast-growing markets that are expected to be an important source of growth and opportunity in the future.

In addition to being the 7th most populous country in the world and the most populous country in Africa with over 160 million people, approximately 63% of Nigeria’s population is under the age of 25 (World Bank, 2013).

The Global X Central Asia & Mongolia Index ETF (AZIA) provides cost-effective exposure to hard to access countries by investing in foreign listings of Central Asian companies as well as in companies that derive significant revenues from the region.

In recent years, the economies of Central Asia have benefited significantly from land that is rich in natural resources; the region has become a major exporter of oil, copper, gold, silver, coal, zinc, lead, uranium, cotton and wheat. 

China has emerged as a key destination for these resources, and has been investing heavily to develop energy and transportation infrastructure in the region. 

Trade between Central Asia and China has grown from approximately $500 million in 1992 to $30 billion in 2010, reflecting an annual growth rate of over 25% (National Bureau of Statistics of China, 2012).

The Economist Intelligence Unit predicted that Mongolia will grow its GDP by nearly 14% this year, the second fastest growing country on the planet (2013).

“The launch of NGE and AZIA have expanded our offerings to include frontier markets— investment themes we stand behind due to their long-term potential and lower correlation with other markets,” said Bruno del Ama , chief executive officer of Global X Funds.

The Global X Nigeria Index ETF tracks the Solactive Nigeria Index. The Global X Central Asia & Mongolia Index ETF tracks the Solactive Central Asia & Mongolia Index.

With $1.8 billion in managed assets as of March 22, 2013, Global X Funds is one of the fastest growing ETF providers in the world.

It  currently offers exchange-traded funds that target Income, Commodity Producers, Developed Markets, Emerging Markets, and Special Opportunities fund suites. For more information, please visit www.globalxfunds.com


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MTN Launches One TV with Free-to-View, Pay-as-You-Go

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MTN Group has begun rolling out MTN One TV, a new entertainment proposition designed to make digital video content more accessible, relevant, and flexible for customers across African markets.

MTN Launches One TV with Free-to-View, Pay-as-You-Go

Introduced in line with MTN’s Ambition 2030 strategy, MTN One TV brings together local storytelling, live channels, international programming, and market-specific viewing options tailored to how customers across the continent access and pay for digital entertainment.

The proposition is designed to give customers greater choice in how they watch content, with viewing models that may vary by market and can include free-to-view content, advertising-funded experiences, pay-as-you-watch access, and subscription offerings.

Depending on local availability, customers may also be able to pay through airtime, Mobile Money, and other locally supported payment methods, helping to reduce common barriers to streaming access.

Beyond enhancing customer experiences, MTN One TV creates new opportunities for African creators, broadcasters, advertisers, and ecosystem partners by helping connect content to wider audiences through MTN’s scale across connectivity, payments, and digital services.

By bringing together a broad mix of content experiences under a single proposition, MTN aims to support greater content discovery, broader audience reach, and sustainable growth across Africa’s digital entertainment ecosystem.

Anchored in MTN’s strategic platforms of Connectivity, Fintech, and Digital Infrastructure, MTN One TV forms part of the Group’s broader ambition to build digital experiences that create value for customers while enabling participation and growth across Africa’s digital economy.

“Entertainment is increasingly becoming an important gateway to digital participation,” said Selorm Adadevoh, MTN group chief commercial, strategy and transformation officer.

“Through MTN One TV, we are leveraging the scale of our connectivity, fintech, and digital capabilities to make relevant content more accessible while creating new opportunities for Africa’s creative and digital economies. This is aligned with our ambition to deliver digital solutions for Africa’s progress.”

MTN One TV is being introduced progressively across MTN markets through a phased rollout approach that reflects local market needs, existing services, and partnership opportunities.

Over time, MTN will bring together a combination of video capabilities, content partnerships, and customer experiences under the MTN One TV brand to create a more consistent and scalable entertainment proposition across its footprint.

Through MTN One TV, MTN continues to extend its role beyond connectivity by combining entertainment, payments, and digital services to deliver experiences tailored to the needs of African consumers.

The rollout supports MTN’s Ambition 2030 vision of leading digital solutions for Africa’s progress while expanding access to digital entertainment across the continent.

 


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IATA Drops Bombshell: Nigeria Among World’s Most Expensive Countries to Run an Airline

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International Air Transport Association (IATA) has identified Nigeria as one of the most expensive countries in the world for airline operations, citing high taxes, charges and operational costs that continue to weigh heavily on local carriers.

IATA Drops Bombshell: Nigeria Among World's Most Expensive Countries to Run an Airline

IATA’s Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, disclosed this during the association’s Annual General Meeting held in Rio de Janeiro.

Al-Awadhi said that although Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, had been pursuing reforms aimed at improving the aviation sector, airlines operating in the country still faced enormous cost pressures.

According to him, the high-cost operating environment has continued to affect the profitability and competitiveness of Nigerian airlines, making it difficult for the industry to realise its full potential.

He noted that excessive taxes, regulatory charges and other operating expenses remained major obstacles to airline growth across the region, with Nigeria ranking among the most challenging markets from a cost perspective.

Al-Awadhi urged member states of the Economic Community of West African States to adopt a proposed 25 per cent reduction in aviation taxes and charges to ease the burden on airlines and passengers.

According to him, lowering taxes and charges would reduce airfares, stimulate passenger traffic and strengthen the competitiveness of carriers operating within West Africa.

He stressed that a more supportive policy environment was critical to unlocking the economic benefits of aviation, including increased trade, tourism and regional integration.

Industry stakeholders have consistently advocated lower taxes and regulatory fees, arguing that the current cost structure makes air travel less affordable and limits the growth of the sector.

IATA’s latest remarks add to calls for governments in West Africa to implement policies that will promote a more sustainable and competitive aviation industry across the region.


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NASENI Trains 50 Women in Kano on Renewable Energy Technologies Under She-Powers Initiative

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The National Agency for Science and Engineering Infrastructure (NASENI), under the leadership of its Executive Vice Chairman/CEO, Khalil Suleiman Halilu, has trained 50 women in Kano State on inverter and battery technologies through its She-Powers Energy Initiative.

NASENI Trains 50 Women in Kano on Renewable Energy Technologies Under She-Powers Initiative

The three-day programme, held at the Technology Incubation Centre, Farm Centre, Kano which ended yesterday, was designed to equip participants with practical renewable energy skills, promote women-led enterprises, and enhance sustainable livelihoods.

 The initiative forms part of NASENI’s broader commitment to empowering women, creating economic opportunities, and expanding participation in Nigeria’s growing clean energy sector. It also aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu by supporting job creation, entrepreneurship, and inclusive economic development.

 Through targeted interventions such as the She-Powers Energy Initiative, NASENI continues to demonstrate its commitment to leveraging technology and innovation to improve lives and drive sustainable development across the country.

Photos: Participants at the She-Powers Energy Initiative training organised by the National Agency for Science and Engineering Infrastructure (NASENI) held at the the Technology Incubation Centre, Farm Centre, Kano yesterday.


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