South African Billionaire Family Acquires Controlling Stake in GZ Industries, Nigeria
Overview: South African billionaire family, the Oppenheimers, particularly Jonathan Oppenheimer, has secured a controlling stake in GZ Industries Ltd., a…
Year: 2023
United Gulf Financial Services North Africa (UGFS) Completes First Closing of D100 Million Fund
Overview: United Gulf Financial Services North Africa (UGFS) has successfully completed the first closing of its fund, aiming for a…
BluePeak Private Capital Invests USD 20 Million in Prime Logistics for Sustainable Expansion
BluePeak Private Capital, an alternative asset management firm, has announced its first ESG-linked investment – a USD 20 million hybrid…
Pan African Towers Secures Strategic Investment from DPI and Verod Capital for Growth in Nigeria’s Digital Infrastructure
Pan African Towers (PAT), a leading digital infrastructure company in Nigeria, has announced a strategic investment from Development Partners International…
STANLIB Launches Khanyisa Energy Transition Fund to Raise $1 Billion for Green Energy Projects in Africa
South African asset manager STANLIB has launched the Khanyisa Energy Transition Fund, aiming to attract $1 billion by the end…
COP28 Delegates Launch Long-Awaited Climate Fund for Loss and Damage
Delegates at COP28 have made a surprising decision to launch a long-awaited fund to address damage from climate-driven events such…
Robinhood Launches in the UK, Expanding Internationally After Over a Decade in the US
Robinhood, the stock-trading platform that gained popularity in the US, has officially launched in the UK, marking its first foray…
B54 Introduces Alternative Funding for African Startups with Digital Private Bank Model
Lagos-based fintech B54 is addressing the funding challenges faced by startups in West Africa by providing an alternative to growth-stage…
Russia’s Largest Oil and Gas Exporters Experience 41% Drop in Revenues
Russia’s largest oil and gas exporters faced a significant challenge as their total revenues plummeted by 41% between January and…
Nigerian Senate Threatens EFCC Involvement to Recover N135 Billion CBN Gas Expansion Loans
The Nigerian Senate has issued a threat to involve the Economic and Financial Crimes Commission (EFCC) in the recovery process…
Nigerian Ports Authority Emphasizes Compulsory Vessel Pilotage Regime to Boost Efficiency in Oil and Gas Sectors
Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority (NPA), has highlighted the significance of the compulsory vessel pilotage…
FirstBank Group Appoints Olukorede Adenewo as Managing Director of FirstBank UK
FirstBank Group has appointed Olukorede Adenewo as the Managing Director of FirstBank UK, effective from November 16, 2023, subject to…
Economic Challenges May Hinder Nigerian Insurance Sector’s Ambitious Third-Party Motor Premium Target
The Nigerian insurance sector’s plans to generate a premium of N148.30 billion from third-party motor insurance by December 31, 2023,…
Tribute Paid to Late Christopher Ogunbanjo for Contributions to Nigerian Capital Market
A special tribute session and closing-gong ceremony were held at the Nigerian Exchange Limited (NGX) to honor the late Christopher…
NGX Records Bullish Performance, Gains N51 Billion in Market Cap
The Nigerian Exchange Limited (NGX) continued its bullish trend, recording a 0.11% increase in the All-Share Index, reaching 71,365.25 points.…
Nigerian Equities Market Rises by 0.11% Boosted by Top Advancers
The Nigerian equities market recorded a 0.11% increase, attributed to the positive performance of key advancers such as NNFM, Mecure,…
Nigeria Faces Challenges Meeting OPEC+ Oil Production Target, Independent Consultancies Indicate
Nigeria is encountering difficulties in meeting its oil production target set by OPEC+ for 2024, as revealed by independent consultancies…
SBG Securities Ceases Coverage on Sub-Saharan African Food Producers Amidst ‘Japa’ Wave
SBG Securities Research, a member of the Standard Bank Group, has announced that it will no longer provide coverage and…
Slowdown in Nigeria’s ICT Sector: Factors and Implications
Nigeria’s Information and Communication Technology (ICT) sector, a key driver of economic growth for over five years, is exhibiting signs…
Surge in Pension Fund Transfers: Navigating Opportunities and Challenges
The Nigerian pension landscape has witnessed a significant shift as 178,164 contributors, managing a total of N710.89 billion, have leveraged…
Nigeria’s 2024 Budget Deficit Challenges: Balancing Subsidy Removal Gains and Fiscal Responsibility
Despite the removal of fuel subsidies, Nigeria faces a historic budget deficit of N9.18 trillion in 2024, emphasizing challenges in…
Equinor Sells Nigerian Business to Chappal Energies: A Shift in Oil and Gas Landscape
Norwegian energy company Equinor has reached an agreement to sell its Nigerian business, including its stake in the Agbami oil…
Nigeria Aims to Reduce Budget Deficit in 2024 Through Bold Reforms
Nigeria’s President Bola Tinubu has unveiled ambitious plans to narrow the country’s budget deficit to approximately 3.9% of GDP in…
Transparency Gap: Analysis Reveals Discrepancies in Climate Finance Reporting
A recent analysis by the ONE Campaign, a non-profit advocacy group, has unveiled significant discrepancies in the reporting and disbursement…
Bola Tinubu Appoints New Board and Management Team for NNPC Limited
President Bola Tinubu has appointed a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL), comprising…
FEC Approves N27.5 Trillion for 2024 Appropriation Bill
President Bola Tinubu presided over the Federal Executive Council (FEC) meeting, where the approval of the sum of N27.5 trillion…
Zenith Bank Signs MoU with French Government to Establish Subsidiary in France
Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the French government to establish a subsidiary in France.…
High Development Costs Keep Many Marginal Fields in Nigeria Dormant
Several marginal oil fields in Nigeria remain undeveloped years after being awarded to companies due to the challenges posed by…
Delisting of Union Bank from NGX Results in N132bn Market Capitalization Loss
The delisting of Union Bank of Nigeria’s shares from the Nigerian Exchange Limited (NGX) led to a N132 billion loss…
Fintech Firm BFREE Explores Acquisition of Distressed Loan Portfolios from Union Bank
BFREE, a German-Nigerian fintech firm, has signed a Memorandum of Understanding (MoU) with Union Bank of Nigeria during the German-Nigerian…