60 Second Finance - Thursday, 17 February 2022. 1) Naija Boy | BankerX Broadcast

60 Second Finance - Thursday, 17 February 2022.

1) Naija Boyz are spreading their wings are soaring. Flutterwave, a Nigerian payments company, recently became the most valuable start-up in Africa with a $3bn valuation for their latest fundraising. This is 3x their valuation from 12 months ago.

2) Once considered terminally ill, Steinhoff has made an Undertaker-esque recovery. They’ve just reached a R24bn settlement with shareholders affected by their accounting crisis (paid in Pepkor shares and cash). Last year, this was the JSE’s best performing stock. We may be ready to get hurt again.

3) Spar is halving dividend payouts for the next 2 years to fund its expansion in Poland. Irish banks didn’t love the idea of giving them more debt, and so shareholder money is the alternative. In an increasingly competitive local market, this could either be a growth frontier or expensive mistake