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Risk management essentials for African Forex traders
via Punch Nigeria4 min read
The Forex trading landscape in Africa is experiencing significant growth, with a new generation of traders emerging across countries like Nigeria, Kenya, South Africa, and Ghana. This expansion is driven by technological advancements and increased financial literacy. However, a crucial differentiator between successful traders and those who struggle is effective risk management. The Forex markets, while offering high liquidity and accessibility, are also highly volatile, influenced by factors such as interest rate announcements, inflation, commodity prices, and geopolitical events. African traders face additional complexities due to currency volatility and sensitivity to economic cycles. Key risk management strategies include position sizing, where professional traders typically risk only 1% to 2% of their capital per trade to maintain account stability even during consecutive losses. This approach is determined by parameters rather than emotional confidence. Stop-loss orders are also vital, allowing traders to pre-define risk levels, manage capital during uncertain conditions, and ensure consistency. Tools provided by online trading platforms like JustMarkets facilitate setting stop-loss and profit targets. Furthermore, a favorable risk-to-reward ratio, ideally at least 1:2, is essential. This strategy allows traders to be profitable even if they are not always correct, as losses are controlled and rewards outweigh them. Adapting to market conditions, such as adjusting posit
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The Federal Competition and Consumer Protection Commission FCCPC has reminded airlines that passengers are entitled to care, including refreshments, communication support, and in some cases, accommodation, during flight delays or cancellations. Ondaje Ijagwu, the FCCPC’s Director of Corporate Affairs, stated on Channels Tv that these provisions are part of consumer protection obligations for airlines. He explained that refreshments are due for delayed flights, and after further delays, airtime should be provided. The level of care increases with the duration and severity of the disruption, with airlines expected to reasonably support stranded travelers. Abrupt cancellations after long waiting periods may require additional support, such as transport and accommodation, especially if the airport is far from the city. Ijagwu emphasized that each case is assessed based on specific circumstances, including delay duration and airline actions. This FCCPC stance follows increasing passenger complaints about delays, rescheduling, and cancellations at Nigerian airports. Recent incidents at Nnamdi Azikiwe International Airport left passengers stranded due to rescheduled flights without transport or overnight accommodation. This situation is linked to the rising cost and scarcity of Jet A1 aviation fuel, which has significantly impacted airline operations. The Airline Operators of Nigeria had previously warned of a potential shutdown due to the surge in aviation fuel prices. The Minister
Must ReadThe National Bureau of Statistics NBS reported that the average retail price of petrol in Nigeria increased by 22.55 percent from N1,051.47 in February to N1,288.54 in March. On a year-on-year basis, the price rose by 2.13 percent from N1,261.65 in March 2025 to N1,288.54 in March 2026. Anambra state recorded the highest average retail price at N1,441.22 per litre, while Lagos had the lowest at N1,162.71. The North-East zone experienced the highest average price at N1,336.50, and the South-West recorded the lowest at N1,232.46. Similarly, the average retail price of diesel increased by 16.05 percent month-on-month, from N1,420.17 per litre in February to N1,648.08 in March. Year-on-year, diesel prices rose by 3.05 percent from N1,599.30 in March 2025 to N1,648.08 in March 2026. Ebonyi state registered the highest average diesel price at N2,262.29 per litre, while Kogi had the lowest at N1,383.40. The South-East zone had the highest diesel price at N1,730.14, and the North-Central zone recorded the lowest at N1,593.11. Economist Mr. Opeyemi Alabi attributed these increases to geopolitical tensions in the Middle East, specifically mentioning the US-Iran war and the closure of the Strait of Hormuz, which have disrupted global energy supply chains and driven up Brent crude oil prices. He noted that these rising fuel costs are increasing transportation expenses and putting pressure on individuals and businesses, potentially leading to higher inflation across Nigeria.
Xiaomi has officially launched the REDMI A7 Pro in Nigeria, setting a new standard for the REDMI A series. This new smartphone features a 6.9-inch immersive display and a 6000mAh battery designed for long-term durability. It also marks the debut of Xiaomi Hyper OS 3 on the REDMI A Series. The REDMI A7 Pro aims to combine essential functions with responsive performance for all-day connectivity and entertainment at an entry-level price. As an exclusive offer in Nigeria, the device comes with a premium bundle valued at up to ₦75,000, which includes MTN data, Spotify Premium, an extended warranty, screen protection, and everyday essentials like cooking oil. The 6.9-inch display offers an enhanced viewing experience with a peak brightness of up to 800 nits and a refresh rate of up to 120Hz, ensuring clear visuals and seamless operation. Wet Touch Technology 2.0 allows for precise control even with damp fingers. The device also has triple TÜV Rheinland eye-comfort certifications and DC dimming for comfortable viewing. The 6000mAh battery provides over two days of usage on a single charge, supporting up to 49 hours of calls, 35 hours of video playback, or 77 hours of music. Built for durability, the battery retains over 80% of its capacity after 1,000 charges. The REDMI A7 Pro is powered by an octa-core processor and UFS 2.2 high-speed storage, with support for up to 8GB RAM expansion. Xiaomi Hyper OS 3 introduces features like intelligent assistance and intuitive search interaction
The Akwa Ibom State Government announced that the inaugural international flight from Victor Attah International Airport, Uyo, to Kotoka International Airport, Accra, Ghana, is scheduled for Saturday, May 2, 2026. This follows presidential approval for the airport's upgrade to international status. Governor Umo Eno stated that Ibom Air will operate the flight, with a return trip on Sunday, May 3, 2026. He described this as a significant step in expanding aviation capacity, improving global connectivity, and positioning Akwa Ibom as a destination for tourism, trade, and investment. The Governor thanked President Bola Ahmed Tinubu for the approval and the Minister of Aviation and Aerospace Development, Festus Keyamo, for his support, also acknowledging past state leaders. The state Commissioner for Information, Aniekan Umanah, echoed these sentiments, emphasizing the milestone's importance for the state's strategic drive. This announcement aligns with earlier indications in December 2025 that Ibom Air would begin international operations in April 2026, after Minister Keyamo inspected the facility and expressed satisfaction with its readiness.