CBN FX Policies Discouraging Foreign Investors—Muda Yusuf
The immediate past director-general (DG) of the Lagos Chamber of Commerce Industry (LCCI), Mr Muda Yusuf, has blamed the Central…
Day: August 2, 2021
ABCON Keeps Mum On CBN’s Sanction
Alhaji Aminu Gwadabe, the President of the Association of Bureaux de Change Operators of Nigeria (ABCON), has refused to comment…
External Reserves Gain $280m In Two Weeks
The country’s external reserves have returned to a growth path with a gain of $280m in two weeks, the latest…
Apapa, Tin Can Ports Independent Marketers Send SOS Over Customs’ Activities
Independent marketers at the Apapa and Tin Can Island seaports in Lagos have sent a distress call to the Federal…
MTN Nigeria To Invest $1.5 Billion To Expand Broadband Over Three Years
MTN Nigeria plans to invest 600 billion naira ($1.5 billion) over the next three years to expand broadband access in…
Canada GDP: Economy Shrank In May But Picked Up In June With Reopening
Statistics Canada says real gross domestic product (GDP) contracted 0.3 per cent in May during lockdowns, after a 0.5 per cent…
New CBN Forex Policy A Step In The Right Direction But…
Until recently, the Central Bank of Nigeria expended nearly half a billion dollars every month in meeting the dollar demand…
Russia’s Oil, Condensate Output Rises Amid Higher OPEC+ Quotas
Russia increased oil production in July for the first time in three months, after more generous quotas were extended to…
The Restriction Of Forex To BDC Operators
In a major policy shift, the Central Bank of Nigeria (CBN) last week halted the sale of foreign exchange (forex)…
NNPC Continues FAAC Deductions, To Withhold N174.4bn In August
The Nigerian National Petroleum Corporation (NNPC) is continuing its regime of deduction from the federation account as it set to…
United Kingdom Climate Investment and Foreign Secretary Dominic Africa Back Green Housing Fund’s First Close
Foreign Secretary Dominic Raab today welcomed Kenyan President Uhuru Kenyatta to Mansion House in London to announce £132 million of…
Kasada Leverages Hospitality Fund With Development Finance Institution Debt Facility
Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, today announced that…
Vuna Partners Lands Commitment From Fund-Of-Funds
27four Black Business Growth Fund II Partnership (27four BBGF II), a blended finance partnership between the South African Government through…
‘5G Deployment Will Boost Connectivity, Consumer Experience’
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has reiterated the importance of 5G…
Nigerian FinTechs Are Building More Solutions To Improve Lives And Businesses – TeamApt
Young founders of FinTechs firms are now building more solutions aimed at improving the lives of individuals and businesses in…
NESG Urges Federal Government To Intensify Actions For Economic Growth
The Nigerian Economic Summit Group (NESG), an economic think tank has called on the federal government to intensify its actions…
Imperial Strikes Deal For J&J With Carlyle, Ethos, Ninety One, And Others
IMPERIAL Holdings has reached an agreement to buy 100 percent of the J&J Group for an enterprise value of $300…
South African Fintech Startup Yoco Reels In Large Series C From New And Existing Investors
Yoco, a South African based fintech that helps small businesses, has closed an $83 million Series C round taking the…
AgDevCo Backs Banana Estate In Mozambique
AgDevCo, a specialist investor in African agriculture, has struck its second new deal this month by backing a Mozambique agribusiness.…
Emerging Africa Infrastructure Fund (EAIF) Agrees Debt Investment In Ivorian Hydro Project
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) (www.PIDG.org) company, is lending €25 million over 18 years to…
Nigeria’s Loans From World Bank, AFDB Rise To $14.35bn Under Buhari
Nigeria’s liabilities to the World Bank and the African Development Bank rose from $7.14bn to $14.25bn between June 30, 2015…
Stock Market Dips by 0.3 Per Cent
Trading in the shares of Transnational Corporation of Nigeria, Oando and Fidelity Bank Plc dominated in volume terms at the…
Foreign Investors Exit Takes Toll As Stock Market Decline By N973.2bn In Seven Months
Profit-taking on price appreciation of stocks recorded last year and foreign investors exit Impacted the Nigerian equities market negatively in…
BUA Cement Posts N21.03 Billion Profit After Tax For Q2 2021
Bua Cement Plc has released its financial statement for the second quarter ending June 30, 2021, which revealed the company…
Airtel Money Secures New investment From Qatar’s Sovereign Wealth Fund
Airtel Africa Plc has announced that it has secured a $200m investment for its mobile money arm from Qatar Holding…
Former President Barack Obama is now a minority owner in National Basketball Association Africa Business
Former President Barack Obama has become a strategic partner and minority owner in the National Basketball Association’s Africa business, which…
FUGAZ Stocks Investors Lose N50.45 Billion During The Week
The market capitalization of the top five banks, referred to as the Tier-1 banks decreased to N2.46 trillion at the…
Seven African Exchanges Inch Towards Shared Trading
Cross-border trading is set for a lift as the African Securities Exchanges Association (ASEA) has signed a contract to roll…
Asian Shares Try To Stabilise, China Growth A Worry
Asian shares were seeking a modicum of stability on Monday as a run of stellar U.S. corporate earnings put a…