The Zimbabwe Stock Exchange (ZSE) has added an instant feature to its online trading platform- ZSE Direct, which will now enable investor- proceeds from a sell order to be credited directly into their wallet rather than being transferred to their bank account as has been the norm.
The development will cut transaction costs for investors each time they make a sell of shares on the platform which was rather costly.
The feature will start functioning tomorrow, the 21st of July on ZSE-Direct.
“With this new feature, proceeds from a sell order will now be credited to the investor’s wallet rather than being transferred to their bank account,” ZSE Chief Executive Officer Justin Bgoni said in a press statement.
The service will attract a 2 percent administrative charge levied on the sale proceeds.
“As a ZSE Direct client, your sell proceeds will be credited to your ZSE Direct wallet on the same trading day after a successful matched and confirmed sell order. Now you do not have to wait for the settlement cycle of T+3 to receive your sell proceeds, an added convenience brought to you by ZSE,” said Bgoni.
Key Benefits of the feature are;
(1) No need to wait for T+3 to receive your sell proceeds, when you sell your securities, your ZSE Direct wallet is credited on the same day with the sell proceeds
(2) You can reinvest your proceeds easier and much faster now; and
(3) Eliminates additional charges associated with movement of funds from one bank to the other.
The FBI’s war with scammers has focused a renewed emphasis on the need for data encryption and urgent data protection. Regardless of your feelings about the case, I shouldn’t have to tell you how important it is to protect your personal information, and it all begins with your mobile.
With the plethora of corporate sensitive data leaks, hacking, sim swapping, and ransomware on the rise, security and privacy are popular subjects these days. You should know how to set up data encryption on your Android or iOS device, regardless of whether you favor Android or iOS.
Encrypt your Android and iOS devices by following the steps below. Once completed, you will only need to input a password to decrypt your data when turning on or waking up your device.
Encrypt data on your iPhone or iPad
Data Protection is a file encryption feature found on iPhones and iPads. Here’s how to turn it on or confirm that it’s already on.
Open the Settings app on your iOS device and tap on Face ID & Passcode or Touch ID & Passcode according to your device.
Put your passcode in here.
If it is not already enabled, scroll down and select Turn Passcode On. If it wasn’t already turned on, you’ll be guided through the process of creating a passcode.
Look for Data protection that is activated towards the bottom of the screen as you scroll down. Your iPhone data is encrypted if you view it.
FYI, the passcode locks the screen and encrypts some of the data on the iPhone or iPad, but not all of it. Your personal data, texts, emails, attachments, and data from select apps that support data encryption are all encrypted using this manner.
Android Data Encryption
The lock screen and device encryption are independent but coupled on Android devices. Without the screen lock enabled, you can’t encrypt your Android device, since the encryption password is linked to the screen lock passcode.
If your device’s battery isn’t fully charged, plug it in before continuing.
If you haven’t already, create a password with at least six characters and at least one number.
Select Settings > Security > Encrypt Device from the drop-down menu. To access the encrypt option on some phones, go to Storage > Storage encryption or Storage > Lock screen and security > Other security settings.
To finish the process, follow the on-screen directions. During the encryption procedure, your device may restart many times. Before using your device, wait until the entire process is completed. Please note that many phones allow you to encrypt an SD card from the Security settings page.
BONUS – How to encrypt your MAC and Windows
This was unexpected BUT we care for your privacy and securing your sensitive data. Here’s how to encrypt your MAC:
FileVault may be found under System Preferences > Security & Privacy > FileVault.
Select “Turn On FileVault…” from the drop-down menu.
Vital: Write down the recovery key that appears and keep it separate from your Mac.
Wait for the encryption to complete before continuing to use the computer.
For Windows encryption, do the following:
Note that BitLocker might not be available in all Windows versions.
To access BitLocker Drive Encryption, go to Control Panel > (better type in) BitLocker Drive Encryption. Next to the drive you want to encrypt, click “Turn on BitLocker.”
Enter a password or passphrase that is long and diversified in alphanumeric characters.
Vital: Use one of the techniques shown to create a backup of the recovery key.
Should you encrypt your Android device, really?
There are several reasons why you should not encrypt your Android handset. Although it may appear that encrypting your phone is a no-brainer, there are a few reasons why you should wait. Each device has a somewhat different technique. For instance, Motorola allows you to use a pin and pattern once the phone has been encrypted, whereas Samsung only allows you to use a fingerprint or password.
After each reboot, Samsung also requires you to enter the password. While this reduces the chance for hackers to access your sensitive information, some people may find it too inconvenient. When you encrypt your Android device, it will suffer a minor performance hit. On modern high-end phones, it’s barely perceptible, but older models and low-end phones may be affected.
Only recent high-end gadgets, such as the Galaxy S6, LG G4, HTC One M9, and their subsequent variants, should be encrypted (Galaxy S7, LG G5 and so on) as a recommendation.
The advantage of robust encryption is the additional security it gives for your sensitive data. The disadvantage of encrypting your mobile data is that it takes longer to log in to your smartphone, at least on Android devices, because it decrypts the data each time you do so. Also, once you’ve decided to encrypt your Android smartphone, there’s no way to back out except by doing a factory reset.
For many people, keeping personal information really private and safe is worth it. Encryption isn’t an option for mobile professionals in certain industries, such as finance and health care. You must safeguard all devices that hold or access consumers’ personally identifiable information, or you will be in violation of the law.
Encryption does more than prevent unauthorised access to your mobile device’s data. Think of the lock screen as a lock on a door: Without the key, uninvited criminal can’t trespass in and steal all your belongings. Even if a hacker manages to get past the lock screen, encrypting your data renders it unreadable and useless.
Vulnerabilities in software and hardware are continually being discovered, while the majority of them are rapidly patched. Passwords for lock screens can even be hacked by determined attackers. It is always good to protect yourself against hackers and secure our device with Efani and their premium services.
The Egyptian Exchange (EGX) has achieved strong weekly gains, estimated at nearly EGP 22 billion, supported by the Central Bank of Egypt (CBE)’s launch of the EGP 100-million presidential initiative for real estate financing.
The market capital gained about EGP 21.9 billion to hit EGP 679.7 billion, compared to EGP 657.8 billion in the past week.
The EGX 30 benchmark index leapfrogged 3.7 percent to reach 10,561.28 points.
The broader EGX 70 index of the leading smaller and mid-cap enterprises (SME) went up by 6.68 percent to register 2,474.89 points.
The all-embracing EGX 100 index also increased 5.39 percent to close at 3,428.76 points.
The Ethiopia Commodity Exchange (ECX) announced that it has traded 39.6 billion Birr worth commodities in the just concluded Ethiopian fiscal year.
ECX Chief Executive Officer Wondimagegnehu Negera told journalist today that 614,586 metric tons of commodities, with coffee and sesame contributing 35.5 and 31 percent of the total volume, respectively, were traded.
Ethiopia has secured 3.6 billion USD from export this fiscal year, higher than the 3.029 billion USD in the preceding budget year, the CEO said, adding that out of this 902 million USD was obtained from coffee, which was exchanged through ECX, and over 600 million USD from gold.
According to him, ECX has also collected 1.7 billion Birr tax in the fiscal year and transferred it to the government.
Wondimagegnehu further said 430,680 quintals of soybeans have been traded at a cost of 990 million Birr through a special marketing window to provide inputs for agro-processing industries.
The CEO stated that ECX earned a total of 775 million Birr from operational and non-operational sources in the just ended budget year, which is 106 percent of the plan. The performance is 20 percent higher than the last budget year.
ECX and Ministry of Mines and Petroleum signed in May a memorandum of understanding to modernize the mining market chain, Wondimagegnehu recalled, pointing out that ECX is looking to introducing opal, sapphire, and emerald to its exchange system in the upcoming budget year.
The <a target=”_blank” href=”https://en.wikipedia.org/wiki/Nigerian_naira”>naira</a> maintained stability against the U.S. dollar at both the official and parallel market segments on Thursday.
Data posted on the FMDQ Security Exchange where forex is officially traded showed that the local unit closed at N411.20 per $1 at the Nafex window, the same rate it traded in the previous session on Wednesday.
This occurred as the domestic currency staged an intraday low of N412.50 and a high of N400.00 before closing at N411.20 as of the close of business on Thursday.
Forex supply slumped by 42.2 per cent, with $123.69 million recorded at the end of the market session as against the $213.99million recorded in the previous session on Wednesday.
Similarly, data posted on <a target=”_blank” href=”http://abokiFX.com”>abokiFX.com</a>, a website that collates parallel market rates in Lagos showed that the naira closed at N505.00 per $1 at the black market window on Thursday, the same rate it has been trading since July 9.
The spread between the black market and the official window rates remained unchanged at N93.78, leaving a margin of 18.60 per cent as of the close of <a target=”_blank” href=”https://www.premiumtimesng.com/news/more-news/473874-kaduna-kano-rail-line-project-will-employ-20000-ameachi.html”>business</a> on Thursday.
GT Bank Plc has transited into a holding company (HoldCo) structure from its commercial banking structure and listed its shares on the Nigerian Exchange Limited (NGX) with the name Guaranty Trust Holding Company (GTCO) Plc.
Speaking to newsmen during the closing gong ceremony to commemorate the listing of GTCO Plc on the NGX in Lagos, the Group Chief Executive Officer (GCEO) of GTCO Plc, Segun Agbaje, said the transition will sustainably grow its earnings and achieve its long-term goal of becoming one of the top five financial institutions in Africa.
He said the experience of trading on the NGX has been really good and that GTCO Plc was very excited about the opportunities that have opened up with the restructuring, particularly because diversifying its income base has always been a major priority.
Responding to a question from a stockbroker, Rasheed Yussuf, the GCEO, said the creation of portfolios was key to anchoring the synergy between the capital market and money market.
“Hopefully we learnt something from the past and found a way to go back to doing that as there is no way a stock market can grow if it is only driven by people’s money. We must find a way to design leverage again and put it back.”
In his opening remark, the Chief Executive Officer, NGX, Temi Popoola, commended the board and management of GTCO Plc for its successful restructuring.
He said the NGX will continue to partner GTCO and other listed companies and issuers even as it continues to build a platform that allows listed companies, investors and other stakeholders to maximise value in the market.
A couple of board meeting notices were published on Tuesday, signalling the issuing of companies’ financials is round the corner.
Nigerian stocks eased by N1 billion on Tuesday as equities faced increasing attrition from investors’ heavy disposal of bank and financial services shares, even though the depth of loss was very shallow, with the benchmark index dipping by as low as less than one per cent.
The bourse is yet to close on an upbeat note since the week began, raising fears stocks could return a negative yield at the end of the week unless a tremendous turnaround happens.
Ahead of the release of quarterly statements, a couple of board meeting notices were published on Tuesday, signalling the issuing of companies’ financials is round the corner.
On the flip side, market breadth which weighs the extent of investors’ confidence, was positive as 17 gainers were reported compared to 13 laggards.
The All Share Index inched down to 37.857.24 points and market capitalisation dropped to N19.724 trillion.
Year to date, the index is down 5.99 per cent.
TOP FIVE GAINERS
NCR led gainers, appreciating by 9.64 per cent to close at N2.73. Wema went up 9.46 per cent to N0.81. FTN Cocoa rose to N0.39, notching up 8.33 per cent in the process. NPF Microfinance added 6.88 per cent to end today’s trade at N1.71. Lasaco completed the top 5, climbing by 6.67 to N1.60.
TOP FIVE LOSERS
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Ikeja Hotels was the worst-performing stock, declining by 9.09 per cent to close at N1.40. Custodian Insurance shed 6.15 per cent to close at N6.10. Jaiz Bank fell to N0.50, losing 5.66 per cent. Mutual Benefits slid to N0.40, recording 4.76 per cent depreciation. <a target=”_blank” href=”https://www.fbnholdings.com/”>FBN Holdings</a> closed at N7.20, going down by 4 per cent.
TOP FIVE TRADES
In total, 197.280 million shares estimated at N1.921 billion were traded in 3,567 deals.
Universal Insurance was the most active stock with 37.199 million units of its shares worth N28.059 million traded in 100 deals. GTCO’s 27.913 million shares, priced at N823.198 million exchanged hands in 310 transactions. UPDC had 13.852 million shares valued at N19.556 million traded in 119 deals. Fidelity traded 12.158 million shares estimated at N28.360 million in 123 transactions. UBA traded 9.581 million shares valued at N72.203 million in 152 deals.
While scenes of lawlessness in parts of KwaZulu-Natal and Gauteng play out on TV and social media around the country, the JSE – in particular the retail sector – has shown a remarkably muted reaction. This may well change.
The OBC Group is a supermarket franchise that has been serving township and commuter populations for the past 35 years – long before malls and big supermarket chains saw the value in the mass market.
Ten of its stores – a fifth of its nationwide network – have been looted, gutted with pick axes for copper wire and, in some cases, burnt to the ground. Of those destroyed, just two are company-owned – the other eight are owned by franchisees who live in the communities they serve.
“I have no words for you,” says Tony Da Fonseca, CEO of the OBC Group and a past chairman of the Franchise Association of SA.
“We did not sleep last night. We are just devastated… our owners and staff are devastated. These are community businesses, it will take them months to get back up and running. What will happen to their jobs? Where will people get food? We will work alongside them, but it…
With the value of the naira further declining to N504 to the dollar, businesses and corporates are resorting to sourcing foreign exchange at the parallel market as turnover at the Nigeria Autonomous Foreign Exchange (NAFEX) market continues to plummet.
This is as the 30-day moving average of the external reserves continue to decline. As at July 8, 2021, it had declined to $33.12 billion, down from $35.64 billion which it was at the beginning of the year. Total turnover as of July 8, 2021 at the NAFEX window also known as the Investors’ and Exporters’ window, decreased by 24.5 per cent to $526.79 million with trades consummated between N400 to N460 to the dollar.
Speaking at the bi-monthly forum of the Finance Correspondents Association of Nigeria (FICAN), immediate past director-general of the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, noted that the foreign exchange market faced liquidity constraints in the first half of 2021, with forex being inadequate to meet rising demand.
To him, “the supply of foreign exchange was inadequate to meet rising demand. The rate premium between the Nigerian Autonomous Foreign Exchange Rate (NAFEX) and the parallel market rate averaged around 20 per cent. Several businesses and corporates encountered difficulties in sourcing foreign exchange at the formal segment of the market and were forced to source the greenback at the parallel market.
“Foreign exchange illiquidity aggravates investment risk which could negatively impact asset quality in the banking system. Foreign currency-denominated loans account for about between 30 per cent and 35 per cent of banks’ loan book. Foreign exchange volatility is associated with risks relating to asset quality and financial stability.”
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Yusuf, who spoke on ‘Nigerian economy in first half 2021 & outlook for the financial services sector,’ said financial service institutions need a conducive business climate to create more avenues for investment and that more profitable asset classes are needed for profitable investments to take place.
He further stressed the need to address the structural, policy, institutional and regulatory constraints in the business environment which would also result in a reduction in non-performing loans in the banking sector.
He, however, noted that despite the pandemic and the resultant effect on the economy, the Nigerian banking industry remained resilient.
Yusuf said the borrowing spree of the federal government was hurting the economy as it escalates the already high rate of inflation in the country.
According to him, the facility usually comes at a huge cost to the taxpayer as the government paid N480 billion interest on the N1.8 trillion facility granted to it through the ways and means window between January and May 2021.
FYI, before iOS 8, when an iPhone went into sleep mode, it automatically unplugged itself from the VPN. Even when the screen is turned off, iOS devices will remain connected to the VPN. You won’t need to rejoin the dedicated VPN all the time.
As told in the previous blog, the easiest and quickest method would be to use a dedicated VPN. StrongVPN is good for advanced users, whilst ExpressVPN and TunnelBear are more user-friendly. Although ExpressVPN offers relatively faster connections, TunnelBear offers a free tier for people just getting started.
Please NOTE that we do NOT endorse any third-party applications. This is for educational purposes and Efani will not be liable by any means.
Configure iOS built-in VPNs
In iOS, you can connect to IKEv2, Cisco IPSec, and L2TP/IPSec VPNs. If your preferred VPN doesn’t have an iOS app, you can use iOS’ built-in settings to set up a VPN. On your iPhone or iPad, tap the Settings app, select General, and then VPN [check image below for illustration]. To add your first VPN configuration to your phone or tablet, tap “Add VPN Configuration.” You can also add several VPNs from this screen if you need to do so.
Depending on the type of VPN you wish to connect to, choose IKEv2, IPSec, or L2TP. To connect, enter the connection details for your VPN on this screen. If your workplace provides your VPN, it should be able to give you these details.
FYI, iOS 10 has abandoned PPTP VPN support. If possible, opt for a VPN of your choice and avoid using PPTP, not only because it is old but an insecure protocol as well.
If you need to connect to the VPN using certificate files, you’ll need to import them when you’re setting up your own VPN. If the certificate files were delivered to you through email, you can open them in the dedicated email app, click on the attachments, and subsequently import them. You may also use Brave or a similar browser to find them on a website and tap them to import them.
Let’s dig further … Psst, grab a cuppa in the meantime of tea if you’re from Europe?
Certificate files in the PKCS # x (possibly in these formats .cer,.crt,.der) and PKCS#12 (.p12, .pfx formats) are supported by iPhones and iPads. If you really need these certificate files to be accessed, the company that provides you with the VPN server should provide them and include them in the VPN setup instructions. If you wish to get rid of any certificates you’ve installed, go to Settings > General and search for Profiles.
Organizations who want to control their iOS devices from a central location can use a mobile device management server to transmit certificates and VPN settings to their devices.
How to disconnect VPN?
ICYMI, in order to connect to or disengage [disconnect in the simplest terms] from a VPN, visit the Settings window and toggle the VPN slider near the top of the screen. When you’re connected to the VPN, a “VPN” icon will appear in the status bar at the top of the screen.
If you have numerous VPNs set up on your iPhone or iPad, you may choose between them by going to Settings > General > VPN — the same window where you added these VPNs in the first place.
Remember OpenVPN Connect?
Let’s test your knowledge. In our previous blog, we spoke about OpenVPN Connect. If you want to connect to an OpenVPN server, skip the entire procedure stated above. This section is dedicated to OpenVPN Network only. Keep in mind that OpenVPN servers are handled differently.
In the case of OpenVPN, you can download the official OpenVPN Network app. Install the app, launch it, and connect to an OpenVPN network. You’ll need to import a profile (.ovpn file) into the OpenVPN Connect app to configure your VPN server. Connect your iPhone or iPad to your computer, open iTunes, and choose the linked device if you wish to do it manually.
They establish a VPN connection at the system level, which means that all of your device’s apps will connect to it—just like VPNs you connect to using the built-in Settings app. You can copy the .ovpn file, as well as accompanying certificate and key files, to the OpenVPN app under the Apps area. You can then use the app to connect to the VPN. The OpenVPN Connect app, like others, isn’t just another app you use.
That’s all there is to it for the average home user. Large enterprises that manage iPhone or iPad deployments centrally will want to avoid per-device settings and instead use configuration profiles or a mobile device management server to specify a VPN server.