Real Time Financial News Website
Despite being rich in 44 different types of commercially viable minerals, Nigeria’s solid minerals sector failed to generate up to a trillion naira in revenue over a 15-year period. Data…
Judge Jeffrey Gilbert of the Northern District of Illinois Court in the United States has ordered the management of Chicago State University (CSU) to release all relevant documents pertaining to…
The incoming governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will take office amidst significant economic challenges. Rising inflation, increasing interest rates, and the continuous depreciation of the…
Equity Bank has entered into a Customer Business Agreement with Mastercard to offer a range of payment solutions, including cross-border remittances, to its customers in six countries. These solutions also…
East African Breweries Plc (EABL) has reported a reduction in its headcount by 168 in the fiscal year ending June, bringing the total number of employees to 1,408. This marks…
The Federation Account Allocation Committee (FAAC) has launched an investigation into the actions of the Nigerian National Petroleum Corporation (NNPC) Limited regarding Nigerian Liquified Natural Gas (NLNG) profits. A committee…
The International Monetary Fund (IMF) and the World Bank have confirmed that their scheduled 2023 Annual Meetings will proceed in Marrakech, Morocco, despite the recent earthquake that resulted in significant…
The Nigerian Communications Commission (NCC) announced that subscriptions to 5G services in Nigeria have reached 500,000, showcasing significant progress in the country’s digital advancement. Additionally, the NCC pledged to achieve…
President Bola Ahmed Tinubu of Nigeria is set to ring the Closing Bell of NASDAQ in New York, United States, as part of the Executive Business Dialogue organized by the…
The U.S. Deputy Secretary of the Treasury, Mr. Wally Adeyemo, has highlighted four economic reform priorities for Nigeria during a speech at the Lagos Business School. These priorities include achieving…
The Securities and Exchange Commission (SEC) has stated that the market value of non-interest products in Nigeria could potentially reach N5 trillion within the next two years. The SEC has…
The Central Bank of Nigeria (CBN) has issued a warning to International Money Transfer Operators (IMTOs) regarding arbitrary rate quotes and other sharp practices. The CBN stated that IMTOs found…
The Federal Government has officially reopened the D Wing of the old international terminal at the Murtala Muhammed International Airport in Lagos. This move is part of an effort to…
Godwin Emefiele, the suspended governor of the Central Bank of Nigeria, reportedly resigned from his post last month. This move comes ahead of President Bola Tinubu’s nomination of Olayemi Cardoso,…
The Nigerian National Petroleum Company Limited (NNPCL) announced a profit of N18.4 billion in the first quarter of 2023, less than a year after the acquisition of OVH Energy. The…
In August 2023, Nigeria’s inflation rate surged to 25.80% from 24.08% in July, according to the National Bureau of Statistics. The year-on-year comparison indicated a 5.27% increase from August 2022,…
The Central Bank of Nigeria (CBN) reported that currency in circulation in Nigeria increased to N2.66 trillion in August, marking the highest level this year. This reflects a 2.48% month-on-month…
The Nigerian National Petroleum Company Limited (NNPCL) and Indorama Eleme Petrochemicals Limited have entered into a Memorandum of Understanding (MOU) for hydrocarbon exploration, set to generate $18 billion for the…
Rubis Energy Kenya, an oil marketer, converted €30 million (Sh4.7 billion) worth of pending fuel subsidy dues into government bonds by the end of June 2023. This move is part…
In July, the return on fixed deposits in Kenya surpassed inflation rates for the first time in 15 months. Banks offered customers an average of 8.1 percent on long-term deposits,…
Data from the first quarter of the 2022 Annual Household Income and Expenditure Survey (AHIES) in Kenya highlights a significant gender wage gap. Among paid workers, women earned 34.2 percent…
The National Treasury in Kenya has utilized multiple reopenings of short-term bonds to secure Ksh 222 billion since May. By opting for bonds with durations between two and five years,…
A recent report from Wimbart, a PR agency specializing in tech and startup sectors across Africa and emerging markets, has highlighted a significant concern in the African tech investment landscape.…
TraditionData, the market data and intelligence division of Compagnie Financière Tradition, has extended its global fixed income offering to include data on over 20,000 securities from the bonds.com network. This…
The Pan-African Fund Managers’ Association (PAFMA) was inaugurated in Nairobi, Kenya during the Africa Climate Summit 2023. PAFMA is a new trade association established by five founding members, including national…
Valu, a leading financial technology provider in the MENA region, has announced the successful completion of its sixth securitized bond issuance, valued at EGP 922.3 million. The issuance is part…
Abidjan-based private equity firm Joliba Capital has achieved the first close of its Joliba Fund I, securing €55 million in investments from a range of commercial and development investors. Partners…
Tana Africa Capital has successfully exited its investment in IEG, a network of schools operating in Morocco and the Netherlands. The investment firm facilitated the acquisition by Globeducate, a prominent…
Emata, an agricultural finance solution for East African farmers, has successfully raised $2.4 million in seed funding, comprising both equity and on-lending capital. The funding round was supported by various…
The People’s Bank of China (PBOC) has announced a 25 basis points reduction in the reserve requirement ratio (RRR) for all banks (except those with a 5% reserve ratio) from…