Money Notes #2

Two notes in one month. Only the most useful, relevant and practical entries on finance and money. 

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Hot Topic in Finance 
Industry conversations we think you should know.

Naira officially depreciates further to ₦410/$.

The naira has been devalued twice since March last year. Right now, the current official rate (as stated by the CBN Governor) is ₦410 to the dollar which is an 8.2% depreciation.

This means that you can expect black market rates to go even higher (Estimate of ₦500 to ₦520/$).

The prices of goods and services in the country will also increase as the general market adjusts to this new price because of things like increased importation costs.

N.B: As of Monday, 8th March, 2021, on the import and export window it further dropped to ₦411.64 to the dollar.

Money Tip
Knowledge you can use

In a world where Nigerian artistes are companies listed in the stock market and you are about to make your first investment, where would you put your money? 

  Davido Zinoleesky Rema
Years Active 2010 - present 2020 2018 - present
Albums/EPs 6 1 3
Net Worth $18 million Unknown $1 million

Let us help you decide:

STEP 1: Analyse the artistes’ profile

1. Davido (The trendy stock)

If you follow trends, then your first thought will be to buy Davido shares. I mean, he’s clearly worth $18 million, has been in the industry since 2010, and has consistently dropped albums that have kept him on the map.  

Most early investors who have already bought stocks in Davido since the start of his career to date are sure to make more returns on their investment as he grows.

However, as a new investor, it might be too late to join the crowd and start investing in him, as you will most likely not gain as much returns as his initial investors. You might even make losses as market prices rise and fall.

2. Zinoleesky (The stock to look out for)

While Zinoleesky might have released other songs before 2020, none of them have gotten as much media attention as his 2 viral hits: Ma Pariwo and Kilofeshe.

As a new artiste trying to make his way around the music industry with no track record, it is not wise to immediately invest in this stock. 

What you want to do instead is keep an eye on him and his growth trajectory.

It is easier for his family and friends to become angel investors, but as there is no guarantee right now that he will continue to perform well or maintain consistency in the industry, it is wise to monitor his growth for some time before going all in as an early investor.

3. Rema (The growth stock)

Rema is currently signed to Don Jazzy’s Mavin Records, a label that has brought out a number of popular acts.

He has shown potential, released viral hits and been on a steady climb.

Based on his current trajectory, management and the direction of the music industry, he makes for a great long-term investment as he will definitely grow in the next few years. 

As an early investor, your best bet would be to invest in Rema’s shares.

Who knows, he could be double Davido’s value in the next 5-10 years and you’re getting in on the action early. 

Analysing past performance is just one of the many steps in helping you decide where to invest when it comes to the stock market.

Other things to look out for are the answers to the following questions:
  • Are the company’s earnings growing?
  • Is the company performing well compared to its competitors?
  • Is the company promising? Does it have long-term stability? 
  • Does the company have effective leadership?
  • What’s the company’s policy on dividends?

It is important to do enough research into any company you are interested in before making the decision to buy.

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