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JenneteUgo Anya
- July 31, 2024
Swedfund Invests $30m In Access Bank To Boost MSMEs
Swedfund, a Swedish state-owned development finance institution, has invested $30 million in Access Bank Plc, one of Nigerian leading commercial banks. This is to enhance financing for micro, small, and medium enterprises (MSMEs) in Nigeria. This investment aims to provide long-term capital and capacity building to underserved MSMEs, supporting sustainable private sector development and inclusive […]
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- July 31, 2024
Boosting MSMEs: From Access Holdings’ N350bn Rights Issue
In a significant shift from traditional marketing strategies, Access Holdings, one of Nigeria’s largest financial services companies, has enlisted the help of social media influencers to promote its N350 billion rights issue. This move highlights the growing importance of social media in financial marketing, particularly as banks and financial institutions seek to reach younger, digitally […]
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- July 31, 2024
New Listing Boosts NGX Market Cap By N105bn Despite Market Slump
The recent listing of 2,418,099,300 ordinary shares of 50 Kobo each per share of Notore Chemical Industries Plc on the Nigerian Exchange (NGX) has significantly boosted the market capitalisation of the local bourse by N105.79 billion, raising it to N55.72 billion. This development occurred despite a subdued trading session on Monday, July 29th, with the […]
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- July 30, 2024
Access Holdings Taps Influencers For N350bn Rights Issue
Access Holdings, one of Nigeria’s largest financial services companies, has enlisted social media influencers to promote its substantial N350 billion rights issue. As competition for capital intensifies, Nigerian banks are increasingly shifting from traditional marketing strategies to influencer marketing to drive their public offers. A review of the marketing strategies by Access Holdings, GTCO Holdings, […]
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- July 30, 2024
Wema Bank Launches ALATPay
Wema Bank has introduced a new payment gateway called ALATPay, specifically designed for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Unveiled recently in Lagos, ALATPay aims to provide a secure and seamless shopping experience for customers while ensuring instant settlement for merchants through a unique ALATPay link. According to a statement released by the […]
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- July 30, 2024
Zenith Bank Set To Raise N290bn In New Capital
Zenith Bank Plc has announced plans to raise approximately N290 billion in fresh capital, exceeding the N230 billion required to comply with the Central Bank of Nigeria’s (CBN) new recapitalisation mandate. The announcement was made during the bank’s rights issue and public offer signing ceremony held on Monday, 29th July, in Lagos. The bank detailed […]
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- July 29, 2024
Fidelity Bank Extends Offer Period Amid Capital Raise Initiative
Fidelity Bank Plc has announced an extension of its ongoing combined offer, comprising a public offering and rights issue, until August 12, 2024. This extension, approved by the Securities and Exchange Commission (SEC), allows investors additional time to participate in the bank’s capital-raising efforts, initially set to close on July 29, 2024. The combined offer, […]
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- July 29, 2024
CAC Sets New Guidelines For Bank Recapitalisation, Mergers
The Corporate Affairs Commission (CAC) has unveiled new guidelines to support Deposit Money Banks (DMBs) in Nigeria as they undergo recapitalisation. This initiative, announced recently via the commission’s official Facebook page, underlines the need for immediate compliance, in accordance with Section 8 (1) (e) of the Companies and Allied Matters Act No. 3 of 2020. […]
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- July 29, 2024
SEC Approves NGX Impact Board To Enhance Sustainability
The Securities and Exchange Commission (SEC) has granted approval to the Nigerian Exchange Limited (NGX) to launch its Impact Board, a specialised platform aimed at enhancing the listing and visibility of sustainability-focused financial instruments. The announcement was made during a Closing Gong Ceremony held at the NGX headquarters in Lagos on July 27, 2024. The […]
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- July 29, 2024
Investors Lose N1.1trn As Nigerian Equities Market Declines
The Nigerian equities market experienced a significant downturn recently, with investors losing N1.1 trillion by the close of trading. The dip was driven by declines in the share prices of several key stocks, including ETERNA, Dangote Cement, and DAAR Communications. The equity capitalisation fell to N55.6 trillion, a decrease from the N56.7 trillion recorded. The […]
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