Shareholders Approve The N2.06 Billion Royal Exchange Rights Issue
Royal Exchange Plc’s shareholders have given the board of directors permission to seek new equity capital from current shareholders in…
Category: Business
2022 Non-Oil Export Revenue Of $4.8 billion, According To NEPC
The Nigerian Export Promotion Council has pledged to make sure that Nigeria surpasses the $4.82 billion it made from non-oil…
Minister Rejects Request To Create New Agencies
The Federal Government has rejected a proposal from the National Institute of Peace and Strategic Studies to establish new organizations…
A Majority Share in FSG is Purchased by Africa Lighthouse Capital.
As certain regional competition authorities applauded its proposed purchase of further shares in funeral services provider Funeral Service Group (FSG),…
As The FX Crisis Intensifies, Manufacturers Lament
The Central Bank of Nigeria’s procedures for awarding foreign cash, according to the Manufacturers Association of Nigeria, have put its…
Partech Closes the Largest Africa-focused Fund for the First Time at €245 million.
The largest Africa-focused fund to date, Partech Africa II has reached its first close at €245 million (about $263 million).…
FG Anticipates Using 82% Of Revenue To Service Debt.
“The World Bank estimates that by 2027, interest payments on Federal Government borrowings from the Central Bank of Nigeria will…
No Funding Available to Create or Support New Agencies – FG.
The Federal Government claimed that there were already too many agencies in Nigeria and that it lacked the resources to…
Nigeria Farmers Protest a 50% Drop in Food Prices.
The International Monetary Fund (IMF) has highlighted near-term downside risks resulting from Nigeria’s elevated inflation, high debt-servicing costs, external sector…
MTN Increases Dividend by N76 billion.
According to the company’s regulatory financial filings, MTN Nigerian Communication Plc. increased its dividend payment by N75 billion, going from…
FG Attributes Nigeria’s Low Imports on the Benin Republic.
The Nigeria Customs Service has said that the Benin Republic trade policy was hostile to Nigerian traders. The Customs Area…
Zoom Plans To Fire 1,300 Employees.
The business that makes the video conferencing app Zoom has revealed intentions to lay off 1,300 employees. The decision was…
Centum Investment begins a Share Buyback.
Following the approval of its shareholders for the share repurchase exercise, Centum Investment Company Plc started its share buyback offer.…
Tanzania: A Crucial Dry Port is about to Start Operating.
The Coast Region’s Kwala Dry Port is finally scheduled to open this month, which is a significant development that will…
Oil Revenue Reduces By N500bn In January
A total of 37.2 million barrels were shipped in January, down below the 49.6 million predicted if it had exported…
Vantage’s Fourth Mezz Fund Surpasses its Goal at Final Close.
Africa’s largest mezzanine fund manager, Vantage Capital, said the final close of its fourth mezzanine fund had been successful. The…
British International Investment Appoints Chijiutomi to Oversee Operations in Africa.
Chris Chijiutomi was appointed as MD, Head of Africa, according to a statement from British International Investment (BII). Chijiutomi, who…
MNT-Halan now has Unicorn Status after the most Recent Funding Round.
MNT-Halan, an Egyptian fintech startup, has raised $400 million in a capital round, including $140 million in securitized bond issuances…
Adenia’s Fund Retains a Strong First Close of $300 million.
Adenia Partners, a private markets investment company dedicated to ethical investing and a sustainable Africa, has announced the first closing…
KENYA: A Mauritius Private Equity Group Is Negotiating To Buy Java.
Mauritius-based private equity firm Adenia Partners is in discussions to fully acquire restaurant chain Java House in a transaction that…
FG Anticipates Excise Taxes To Generate N250 Billion.
According to research, Federal Government intends to generate N250.09bn from excise duty in 2023. This was stated in the budgetary…
Agriculture and Manufacturing Record Fastest Production Cost Increase in January – Stanbic IBTC
According to the Purchase Manager Index (PMI) study from Stanbic IBTC Plc, operators in the industrial and agriculture sectors would…
Despite FG Assertions, Fuel Supply Is Still Very Low
Despite assurances by the Federal Government that it possessed more over one billion liters of PMS, enough to keep the…
Peter Obi Requests Calm, Urges Nigerians to Put Up with FG, CBN
Mr. Peter Obi, the Labour Party’s presidential candidate, has pleaded with Nigerians to have patience with the federal government and…
Mineral Titles Drop 37% As Industry Is Threatened By Instability
Nigeria’s natural resources are underutilized, according to the minister. However, the mining industry has also been troubled by insecurity, which…
Reps Are Considering Calling An Emergency Session Due To The New Naira Crisis.
The Speaker of the House of Representatives, Femi Gbajabiamila, has said the federal parliament will have no option but to…
According To Buhari, Nigeria Has 100% Broadband Penetration.
At the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture’s first Digital Economy Conference, which was hosted at…
Reps Drop The N22.7tn Loan Proposal And Approve The Borrowing Of N1tn
The President’s requests for Ways and Means Advances from the Central Bank of Nigeria were partially accepted by the House…
Diesel prices rise 182.6% in a year as a result of high energy costs.
The cost of energy supply has continued to take a depressing toll on Nigerians with the average retail price of…
After Moody’s Downgrading, Investors Sell Off Nigerian Bonds.
According to the report, “Nigeria’s sovereign-risk premium jumped the most in three months after Moody’s Investors Service downgraded the country…