Venture Fund-of-Funds for SA SME Holds First Close, Exceeding Target.
The R1 billion Venture Capital Fund of Funds (VC FoF), a partnership between government and business aimed at fostering economic…
Year: 2023
RMB Ventures purchases a sizeable minority share in a mining services provider.
RMB Ventures announces a strategic equity investment in Mafika Engineering, a major provider of mining services. RMB Ventures has acquired…
The acquisition of a South African tech company is being driven by Infinite Partners.
A group of private equity investors led by independent private equity fund manager Infinite Partners have agreed to buy e4,…
Breweries and the Tobacco Sector on the Verge of Disaster.
According to Dike Onwuamaeze, businesspeople and economists have expressed concern that the 2023 Fiscal Policy Measures may bring about the…
“Nigeria: $21 billion in revenue, 100,000 jobs coming from our refinery” – Aliko Dangote.
President Buhari opened the refinery at Ibeju-Lekki, Lagos, and Dangote, said its products “will be in the market before the…
Report: Nestle Borrowings Rise to N155bn.
At the end of the 2022 fiscal year, Nestle Nigeria Plc’s total interest-bearing obligations increased by 102.05 percent to N155…
Nigeria receives 30% of all FDI in Africa, according to NITDA.
Nearly 30% of Africa’s foreign direct investment, according to Kashifu Inuwa, Director General of the National Information Technology Development Agency,…
Dangote refinery gasoline launches on the market in July, helping FG save N7 trillion.
With the start of operations at the Dangote Refinery and Petrochemicals, the Federal Government might save nearly N35tn in fiscal…
Nigeria has not missed payments on Chinese loans, according to DMO.
Nigeria has not defaulted on repaying its Chinese loans, contrary to what a non-governmental organization, Socio-Economic Rights and Accountability, said.…
NGX Sanctions PZ and 17 Others for Filing Results for 2022 Late.
18 listed firms were penalised N34.72 million by the Nigerian Exchange Limited (NGX) for submitting their financial accounts for the…
The CBN prohibits the mint corporation from printing checks.
According to a recent circular, the Central Bank of Nigeria has authorized four indigenous businesses to issue checks in the…
The World Bank will increase FG’s access to a $750 million loan.
The Federal Government, on behalf of the 36 state governments and the Federal Capital Territory, is about to receive a…
FG introduces a tribunal for advertising offenses.
The Advertising Offences Tribunal was established by the Federal Government to address violations of the Advertising Regulatory Council of Nigeria…
Neimeth plans to expand its base.
The two significant capital initiatives Neimeth International Pharmaceuticals Plc has started are intended to increase revenue and earnings, according to…
Assets Surge by 39% for BoI.
The Bank of Industry said its asset base rose from N1.71tn to N2.38tn in 2022 financial year – The Chairman,…
Dangote Refinery kicks off, processing crude from three continents.
In order to process crude oil grades from the three continents of Africa, Asia, and America, the 650,000 barrels per…
Nestle’s profit is eroded by higher finance costs.
Nestle Nigeria Plc reported a 16.1% increase in first-quarter revenue to N127.97 billion (Q1) ended March 31, 2023 from N110.23…
The task before PenCom is to recover unpaid pension contributions.
PenCom, the National Pension Commission, ensures the recovery of unremitted pension contributions by fining businesses who fail to pay employee…
Dangote Cement, MTN, and Others’ OPEX Reached N1.01 Trillion in Q1 as Inflation and FX Scarcity Persisted.
Due to double-digit inflation, a foreign exchange shortage made worse by the general elections, and the slow expansion of the…
Oil prices stay constant as US reserves increase.
Brent crude increased 2 cents, or 0.7%, to $74.42 a barrel on the futures market. The price of West Texas…
Concessionaire would contribute N5.3 billion to eCRVS, claims FG.
The concessionaire, Messrs Barnksforte Technologies Limited, has informed the Infrastructure Concession Regulatory Commission (ICRC) that N5.3 billion in private funds…
ETI Shareholders Approve Exercise to Raise $500 Million in Capital.
The resolution authorizing the issuance of additional Tier 1 and Tier 2 qualifying subordinated debt as well as senior ranked…
The appeals court suspends the Seplat board’s order.
The Abuja-based Court of Appeal has overturned a ruling that prevented the Board of Directors of Seplat Energy from carrying…
According the CBN, bank assets have increased to N78 trillion.
By the end of February 2023, the total assets of the Nigerian banking sector had increased by 25.12% over the…
Port operators contributes $440 million to Apapa ports.
According to APM Terminals, it has invested about $440 million in the Apapa ports since the port concession in 2006…
According to NSC, demurrages cost N2.7bn in the past two years.
The Nigerian Shipper’s Council said that between 2020 and 2022, it saved a staggering N2.7 billion. The fund might have…
IMF recommends the lowering of trade restrictions in Africa.
According to the International Monetary Fund, removing trade restrictions between African nations will assist 50 million people escape poverty. The…
Net FX inflow fell to $72 billion in 2022, according to CBN.
The Central Bank of Nigeria (CBN) reported that the country’s net total foreign exchange (FX) inflow closed at $72.4 billion…
Cane Integrated Investment Ltd Partners with NYSC on Investment Literacy and Financial Planning.
The investment and financial advisory firm, Cane Integrated Investment Limited on Wednesday, May 10, 2023 visited the NYSC Lagos State…
KBL Insurance has been awarded ISO 9001: 2015 certification.
KBL Insurance Limited, a supplier of general insurance products, announced that it has achieved ISO 9001:2015 certification. According to the…