• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Survey finds Twitter ban will negatively impact Nigeria’s economic outlook for H2 2021

4 years ago
in Economy, highlights, Home, home-news, latest News, Social Media, Technology
2 min read
0 0
0
82
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

CFOs and Heads of Finance in leading organisations across all major sectors in Nigeria shared their opinions on the outlook for their businesses, their strategies for cost and risk management and the priorities for an enabling environment.

In the 2021 CFO Outlook Survey, KPMG collated the views of CFOs on the impact of the COVID-19 pandemic on their respective industries, their outlook on the prospects of growth for both the economy and their organisations, their key challenges from an ease of doing business perspective, and finally, their response to the challenges of improving the efficiency and effectiveness of the finance function.

In addition to this, KPMG incorporated feedback from organised interviews with selected CFOs across the key sectors of the economy. Below are highlights from the survey.

Prospects for Nigeria’s Economic Growth in 2021

The survey noted that CFOs have a pessimistic view on the prospects for growth in 2021, and this is consistent with their views about the growth of the Nigerian economy in 2020. According to the survey, some of the underlying reasons adduced for the much less confident view were:

  • Uncertain FX Environment
  • Oil price and Oil production
  • Emerging Digital Economy

Furthermore, while Nigeria recorded venture capital investments of US$307m in 2020, and over US$200m already in 2021, the survey noted that policy actions like the recent Twitter ban in June 2021 bodes negatively for the outlook in the second half of 2021.

Ease of Doing Business in Nigeria

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

According to the survey, CFOs have identified Security, Infrastructure and Power as the top 3 matters that the government needs to address to enable ease of doing business, stimulate economic growth and enhance public trust.

In addition, CFOs also indicated that the Government needs to ensure policy harmonization and consistency in implementation to boost public trust.

The survey also noted that restoring optimism over Nigeria’s economic prospects requires increased efforts from both fiscal and monetary perspectives. It added that this would restore growth to either the mid-to-high single-digit levels observed in the era between 2000 and 2010, or double-digit expansion.

Leveraging Technology in Finance

The survey showed that CFOs identified Cloud Computing, Advanced Analytics, and Visualization as the leading technologies that have been used to improve efficiency in their finance functions.

They also identified other technologies, including Robotics Process Automation, Artificial Intelligence and Blockchain, as new frontiers for delivering financial services, and some CFOs have started exploring these technologies for adoption.

African Continental Free Trade Area (AfCFTA)

With the official commencement of AfCFTA in 2021, 50% of CFOs believe that the agreement between African nations will have a medium impact on their businesses in the short term.

Noteworthily, 40% of CFOs believe AfCFTA will have a low impact on their business in 2021. Nonetheless, they mention that having an effective execution plan for the AfCFTA will be important.

Source: businessinsiderafrica
Via: norvanreports
Tags: African Continental Free Trade Area (AfCFTA)COVID-19 pandemicNigeria’s economic outlookTwitter ban
No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.