...Posts profits consecutively for 10 straight years with TCI of N96.96bn for 2022 The Nigeria Sovereign Investment Authority manager of Nigeria’s sovereign wealth fund, on Thursday, announces its audited results for the 2022 financial year. The financial performance underscores the resilience of the NSIA’s investment strategy, and the quality of its earnings given the challenging……Posts profits consecutively for 10 straight years with TCI of N96.
Total Comprehensive Incoĺme of N96bn in 2022 representing a decline of 34 per cent relative to 147bn in 2021 due largely to strong macroeconomic headwinds. Nonetheless, the agency was able to outperform most global investment benchmarks and indices to deliver a respectable performance. The 2022 fiscal year was marked by unprecedented shocks, such as the COVID-19 lockdown in China, the Russia-Ukraine conflict, food and energy crises, supply-chain disruptions, soaring inflation, and monetary policy tightening, which precipitously impacted the financial markets
Although the Group’s earnings are lower than that of 2021, the NSIA Group said it remains confident in its investment strategy and will continue to explore opportunities to mitigate risks and achieve its investment objectives.In 2022, NSIA reached a significant milestone in implementing its infrastructure strategy by delivering key projects.
On another note, NSIA has incorporated an equipment leasing company, Equilease. This is in fulfilment of NSIA’s commitment to bridge notable voids in the domestic healthcare value chain. Equilease was conceived to stimulate the proliferation of high-quality medical infrastructure in Nigeria by providing alternative financing options for acquiring critical medical equipment via equipment leasing.
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Source: GuardianNigeria - 🏆 1. / 94 Read more »