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JenneteUgo Anya
- December 13, 2024
Aradel Plans To Acquire 5.14% Equity Stake In Chappal Energies
Aradel Holdings Plc has announced plans to acquire a 5.14 percent equity stake in Chappal Energies Mauritius Limited, marking a strategic move to diversify its portfolio and expand its presence in Africa’s upstream energy sector. This development comes shortly after Aradel’s landmark public listing on the Nigerian Exchange (NGX) at ₦702.69 per share, following over […]
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- December 13, 2024
Banks’ Recapitalisation, New Listings Push NGX Market Cap by ₦18.2trn
The Nigerian Exchange Limited (NGX) has recorded remarkable growth in 2024, with its market capitalisation surging by ₦18.2 trillion, reaching ₦59.107 trillion at the end of November. This represents a 44.5 percent increase from ₦40.918 trillion at the start of the year, despite economic challenges and rising interest rates. The All-Share Index (ASI) also saw […]
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- December 13, 2024
Access Bank To Acquire 100% Stake In Bidvest Bank
Access Bank Plc has entered into a binding agreement with South Africa’s Bidvest Group Limited to acquire a 100 percent equity stake in Bidvest Bank, marking a significant step in the bank’s strategy to expand its presence in Africa and reinforce its position as a key player in the continent’s financial sector. The acquisition aligns […]
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- December 13, 2024
Coronation Group Partners With AFIS To Propel African Financial Innovation, Inclusion
Coronation Group has partnered with the Africa Financial Summit (AFIS) to champion innovation and inclusivity in Africa’s financial sector. The two-day event, which took place between December 9 and 11), brought together over 1,000 financial leaders, including bankers, insurers, fintech experts, and policymakers, to forge a stronger, more inclusive pan-African financial ecosystem. Mr. Aigbovbioise Aig-Imoukhuede, […]
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- December 13, 2024
Sustainable Energy Fund For Africa Expands Donor Base
At the 2024 Africa Investment Forum, the Sustainable Energy Fund for Africa (SEFA) has announced Japan as its latest donor, increasing its donor base to 11 and enhancing its ability to fund vital energy projects across Africa. The announcement was made during a thematic boardroom session that highlighted innovative financial strategies to drive the continent’s […]
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- December 12, 2024
SMEDAN Engages SMEs On Benefits Of New Tax Reform Bills
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a nationwide engagement initiative to educate small and medium enterprises (SMEs) on the implications and benefits of the proposed Tax Reform Bills. This effort seeks to address misconceptions, provide clarity, and ensure informed participation in the legislative process by key stakeholders, including local […]
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- December 12, 2024
SEC Calls For Stronger Corporate Governance In Nigerian Banks
The Securities and Exchange Commission (SEC) has called on Nigerian banks to enhance corporate governance and strengthen risk management frameworks as the sector embarks on a critical recapitalisation process. This initiative is part of a broader strategy to boost investor confidence and ensure long-term stability in the banking industry, valued at over $100 billion. Speaking […]
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- December 12, 2024
Development Finance Leaders Urge Private Sector Utilisation For African Infrastructure
The Africa Investment Forum (AIF) 2024 recently convened leaders from development finance institutions (DFIs), export credit agencies (ECAs), and insurers to strategise on scaling up infrastructure financing in Africa. With the theme ‘Scaling up infrastructure financing through partnerships between DFIs, insurers, and export credit agencies,’ the high-level roundtable highlighted the importance of mobilising private capital […]
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- December 11, 2024
FG Launches ₦198bn Loan Fund To Empower MSMEs In 2025
In a decisive move to bolster micro, small, and medium enterprises (MSMEs) across the nation, the federal government has unveiled a ₦198 billion syndicated loan fund. Scheduled to roll out in the first quarter of 2025, this initiative aims to enhance entrepreneurship and spur economic growth in every state of the federation. The program introduces […]
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- December 11, 2024
Oando, NNPCL Strengthen Alliance To Boost Oil, Gas Production
Oando Plc and the Nigerian National Petroleum Corporation Limited (NNPCL) have reaffirmed their commitment to enhancing Nigeria’s oil and gas production, building on Oando’s recent acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni. At a recent high-level meeting led by NNPCL Group Chief Executive Officer (CEO), Mallam Mele Kyari, and […]
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