Dangote Cement’s share buyback has been approved by shareholders.
Dangote Cement shareholders unanimously authorized the company’s management to conduct a share buyback of up to 10% of its issued…
Category: Business
Kenya’s Highest and Lowest Paying Industries are Revealed.
The financial and insurance sectors employ the greatest proportion of Kenyans earning more than Sh100,000, indicating an economy with few…
Architectural Business Cannot Claim Sh1.4 billion from NHIF.
A consultant’s attempt to recover Sh1.4 billion from the National Health Insurance Fund (NHIF) for a bungled deal to build…
Growth Expectations, Monetary, and Fiscal Policies.
Fiscal and monetary policy are essentially macroeconomic instruments used to control or stimulate the economy. Because the two policies together…
Export repatriation: DMBs to Lend N500 billion to Export Firms According to CBN.
The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) to grant at least N500 billion in loans…
CBN Allocates N10 trillion to Manufacturers.
Aishah Ahmad, Deputy Governor, the Financial System Stability Directorate, Central Bank of Nigeria, has expressed concern about the poor repayment…
Absa Says Africa’s Top Investment Destinations Includes Tanzania.
Tanzania has been rated as one of the best investment locations in Africa due to its robust regulatory environment, sound…
MRS SubsidIary’s $300m Purchase Of Chevron Oil Block From NNPC Allows For The Supply Of 8,000 Crude Oil Barrels Per Day In Five Years.
Nigerian National Petroleum Company Limited (NNPCL) will supply 8,000 barrels of crude per day for four to five years using…
Equity, NCBA fight over Sh160 million Nairobi Property.
In a legal dispute over a building in Nairobi that the two lenders claimed to have financed at a cost…
TLG Plans Venture Debt Deals in Future Africa’s Portfolio.
A $25 million venture debt fund designated for portfolio companies is being launched by Future Africa, a venture capital firm…
Mobility Fintech, Moove, Raises $30mln from Debut Sukuk for UAE Expansion.
In order to fund the construction of the largest EV ride-hailing fleet in the MENA region, Moove, the first mobility…
DPI and Fireball Back Ukheshe’s African expansion Plans.
In order to close the financial inclusion gap, Ukheshe International provides embedded finance to businesses in the African fintech ecosystem.…
Exxon Completes the $407 million Sale of its Operations in Chad and Cameroon.
Exxon Mobil Corp. (XOM. N) completed the sale of its operations in Central Africa’s Chad and Cameroon to London-listed company…
Microsoft Plans to Acquire a 4% Stake in the London Stock Exchange.
In exchange for a 10-year contract to move the data platform of the exchange operator to the cloud, Microsoft (MSFT.…
Emefiele: Banks and CBN to Support Over N500 Billion in Nigerian Exports.
In an effort to increase non-oil export revenues, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, stated that…
Net Worth of Abdul Samad Increases by $7.3 billion.
Due to the successful performance of his publicly traded assets on the Nigerian Exchange, Abdul Samad Rabiu, Chairman of BUA…
Equinix Announces an Expansion Strategy Six Months after Purchasing MainOne for $320 million.
The supply chain, cybersecurity, and hiring segments of Equinix’s 2022 Global Tech Trends Survey were focused on 100 business leaders…
Trade Between Ghana and Italy Totals €500 million.
Ghana and Italy’s bilateral trade increased to a record high of €520 million in 2021. The Italian ambassador to Ghana…
Ifc and Airtel Partner to Connect Millions of People Across Africa.
A $194 million credit facility between Airtel Africa Plc and the International Finance Corporation has been announced (IFC). The new…
Nigeria’s Trade Balance is 86% Worse Off Due to Weak Exports.
Nigeria’s trade balance has been negative quarter over quarter, as exports have decreased by 19.8% to N5. 93 trillion in…
NNPCL Signs MoU with Companies in Ghana and Gambia.
The Nigerian National Petroleum Company Limited has signed five memorandums of understanding regarding the Nigeria-Morocco Gas Pipeline Project with the…
Depreciation of the Naira Increases Foreign Debt by N9 trillion.
Nigeria’s foreign debt burden increased as the value of the naira relative to the dollar dropped from N196. 92 in…
Bboxx-EDF Obtains €11 million to Speed Up Electrification of Togo with Solar Kits.
Bboxx, a manufacturer and distributor of plug-and-play solar systems with a focus on Africa, and its partner EDF, a world…
US, ABC, and Microsoft Rally Behind Data Protection Bill Passage.
Chief executive officer of American Business Council (ABC) Margaret Olele has said the data protection bill before the National Assembly…
NNPC and Chevron Acquire N610 billion in Funding for 37 Oil Wells.
The Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL), announced that $1. 4 billion in financing has been…
Nigeria FG Plans New Green Bond Issuance For 2023.
The federal government plans to issue new green bond in 2023 as government explores widely diversified, alternative funding sources to…
Oikocredit Invest Debt in Solarise Africa.
Oikocredit has teamed up with the Facility for Energy Inclusion (FEI) and AfricaGoGreen (AGG), two funds run by the Lion’s…
4Di Capital Holds Second Close for New Seed Fund.
South African early-stage venture capital firm 4Di Capital has announced the second closing of its new US$25 million seed fund…
World Bank Estimates $20.9 Billion In Remittance Inflow For Nigeria In 2022.
Foreign remittance into Nigeria is estimated to hit $20. 9 billion by the end of 2022, compared to $19. 5…