The share price of FBN Holdings Plc, parent company of the First Bank of Nigeria Ltd, which opened on the floor of the Nigerian Exchange Ltd.(NGX) on Friday at N18.50, gained N1.85 to close at N20.35, following investors’ renewed interest. Specifically, FBN Holdings led 17 other gainers by 10 per cent and sold a total
The expectation is a difficult 12-months ahead for many businesses. The withdrawal of Government grants, the start of repaying Government backed loans and difficulties accessing traditional finance such as overdrafts and loans will leave many businesses struggling.
Josh Levy,. CEO Ultimate finance said:
“My key prediction for 2021 concerns liquidity and specifically that access to liquidity will be a serious problem for SMEs. Cashflow and overall business liquidity is a challenge for all companies. The various Government support schemes – loans, grants and tax deferrals – have helped overcome the COVID pandemic related impact of reduced income and pressured cashflows. But going into next year, SMEs face being unable to access primary or traditional sources of working capital funding, whether that’s loans or overdrafts. This is where specialist lenders and asset-based lenders can be such a great option.