Red Rocket Secures $160 Million Investment for Clean Energy Expansion in Africa
Cape Town-based Independent Power Producer (IPP), Red Rocket, has received a substantial capital injection of $160…
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ARM-Harith Infrastructure Fund Invests $18.75 Million in Elektron Power Infracom…
ARM-Harith Infrastructure Fund ("ARMHIF") has made an investment of US$18.75 million into Elektron Power Infracom…
Sanari Capital Raises R1.25 Billion for Sanari 3S Growth Fund, Edging Closer to…
Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has…
Fitch Ratings Anticipates Continued Naira Depreciation Amidst Official-Parallel…
Fitch Ratings Inc., a credit ratings and research firm, predicts that the Nigerian naira will continue to…
Nigerian Companies Experience Margin Contraction Despite Marginal Revenue Growth…
A diverse range of Nigerian companies have reported significant reductions in their profit margins in the second…
Nigeria’s Money Supply Declines Marginally to N64.8 Trillion in August 2023
Nigeria's money supply, represented by M2, saw a marginal drop to N64.8 trillion in August 2023 compared to N64.9…
Nigeria’s Debt Management Office Plans to Raise N1.2 Trillion through Bond…
Nigeria's Debt Management Office (DMO) has unveiled plans to raise up to N1.2 trillion by re-issuing federal…
Nigeria Loses N843 Billion Due to Gas Flaring from January 2022 to August 2023
Between January 2022 and August 2023, Nigeria suffered a significant financial loss of approximately N843 billion…
Rising Inflation Puts Pressure on Nigerian Downstream Firms as Input Costs Soar
In the first half of 2023, Nigeria's downstream firms, including Eterna, Total Energies, Conoil, and MRS Oil,…
Legal Expert Analyzes Atiku’s Request for Fresh Evidence in Presidential…
Monday Ubani, former Chairman of SPIDEL (Section of Public Interest and Development Law) at the Nigerian Bar…
Nigerian Naira Faces Significant Depreciation in 2023, World Bank Reports
The World Bank's Africa's Pulse report highlights that the Nigerian Naira has undergone nearly a 40 percent…
High Rates of Self-Employment in Sub-Saharan Africa Limit Wage Jobs and…
A recent World Bank report highlights that Sub-Saharan Africa (SSA), including Nigeria, has the highest rates of…
Naira Appreciates on Low Demand for Dollars
The Nigerian Naira gained 1.33 percent against the US Dollar at the official foreign exchange (FX) market, trading…
Top 10 African Countries with the Largest Gold Reserves in 2023
Africa boasts some of the world's largest gold reserves, presenting a substantial source of wealth and economic…
OPEC Oil Output Rises in September Despite Cuts
OPEC's oil output increased for the second consecutive month in September, according to a Reuters survey. Nigeria…
Top 5 Best-Performing Stocks on NGX in 2023
Despite macroeconomic challenges in 2023, some stocks listed on the NGX have delivered remarkable returns,…
Federal Government Opens Subscriptions for 10-Year Ijarah Sukuk at 15.75% Interest
The Debt Management Office (DMO) has initiated subscriptions for a 10-year Ijarah Sukuk with a 15.75% interest per…
Nigerian Forex Market Faces New Challenge as US Dollar Strengthens
The surge in the US dollar, driven by rising US Treasury yields, is posing a fresh challenge for Mr. Yemi Cardoso,…
Naira Faces Significant Depreciation in Q3 2023, Raising Economic Concerns
The Nigerian currency, the naira, experienced a notable depreciation in the third quarter of 2023, with both…
Nigeria’s Over-Reliance on Imports Hinders Industrialization Efforts
After 63 years of independence, Nigeria is still heavily reliant on imports, which is impeding efforts to boost…
Nigeria’s Equities Market Starts Q4 Positively, Anticipating Q3 Earnings…
Nigeria's equities market has begun the fourth quarter of 2023 on a positive note, aiming to recover recent…
Rising Inflation Forces Nigerians to Opt for 2G Devices as Buying Power Shrinks
Inflation in Nigeria has surged to an 18-year high of 25.80% in August, impacting consumers' purchasing power.…
Chairman of Fiscal Policy Committee Urges Sale of Non-functional Nigerian…
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, suggested selling Nigeria's…
First Bank and Lafarge Africa Pledge Support for Cement Distributors Amid…
First Bank Plc and Lafarge Africa have expressed their commitment to continue supporting their cement distributor…
Nigeria Aims to Boost Startup Funding to $5 Billion Annually by 2027
Nigeria has set an ambitious goal to facilitate startups in raising a total of $5 billion annually by 2027. Dr.…
Impact of Central Bank’s Exchange Rate Unification Policy in Nigeria
The Central Bank of Nigeria's exchange rate unification policy has resulted in significant financial shifts. The…
Nigerian Stock Exchange Records Loss of N516 Billion in One Week
Investors on the Nigerian Exchange Limited (NGX) experienced a loss of N516 billion in one week of trading, with a…
Amethis Invests in Moroccan Energy Transfo to Accelerate Growth in Energy Sector
Private equity firm Amethis has acquired a minority stake in Energy Transfo, a leading company in the design and…
P1 Ventures Completes $25 Million Close of Second Fund to Support African Tech…
P1 Ventures, a Pan-African Seed VC fund, has successfully closed the first round of its second fund, raising $25…
African Infrastructure Investment Managers (AIIM) Doubles Equity Commitment to NOA…
African Infrastructure Investment Managers (AIIM), a subsidiary of Old Mutual Alternative Investments, is…