IFC Mulls Debt Investment in M-KOPA.
With operations in Kenya, Uganda, Nigeria, and Ghana, M-KOPA (“M-KOPA” or “the Company”) is an established platform that offers necessary…
Category: Finance
Nigeria’s Growth is Projected by the IMF to be 3% in 2022.
Nigeria’s projected real GDP growth for 2022 has been lowered by the International Monetary Fund from 3. 4% to 3%,…
UK Efforts to Repair Finances Result in Higher Taxes and Energy Costs.
Jeremy Hunt, the head of the Treasury, pledged to increase funding for essential public services like health and education while…
Naira Redesign might cause Dollar to Drop to N200, According to EFCC chairman
The redesign of naira notes, according to Abdulrasheed Bawa, head of the Economic and Financial Crimes Commission (EFCC), may cause…
Funders are now Interested in ESG, According to KPMG
According to KPMG, capital providers are increasingly eager to examine how their funds are leveraged to create stakeholder value through…
Under Buhari, CBN Grants $3.5 billion for International Education.
Data acquired on Sunday from the Central Bank of Nigeria’s website indicated that under President Major General Muhammadu Buhari, the…
Egyptian Fintech Equity and Financing Round Led by EIIC and Sawari
The Egyptian finance firm, Blnk, formed in 2021 by Amr Sultan and Tarek Elsheikh, has revealed that it has earned…
Quona Capital Closes a $332 million Fund to Finance Fintech Businesses in Developing Nations.
Quona Capital, a venture capital firm, has announced that Fund III, its third fund, has reached its final closure at…
Buyoya Promoted to be IFC’s Regional Director for West Africa.
Olivier Buyoya has been appointed as the new regional director for the International Finance Corporation (IFC) in West Africa. Buyoya,…
Consumption Costs Reach N57 trillion as a Result of Rising Inflation.
Consumption spending in Nigeria increased to N57.08 trillion in the first half of 2022 due to rising inflation. According to…
Foreign Medical Spending by Nigerians Falls by 65% In Q1 of 2022.
Nigerians spent $185 million on foreign (medical) health services in the first half of 2022; a 65% decrease from the…
NPA Transfers N490billion to FG Funds.
According to the Nigerian Ports Authority, between 2011 and 2022, it transferred N490. 229 billion to the federal government’s consolidated…
Nigerian Banks Experience Earnings Drop Following Latest Policy Rate Increase – S&P.
The Central Bank of Nigeria (CBN) increased its main monetary policy rate by 150 basis points (bps) on September 27.…
According To AfDB, Nigeria Needs Assistance To Reduce Its Debt Burden.
Economic and financial experts have expressed grave concerns about Nigeria’s soaring debt load; which has posed a severe threat to…
The US Fed Increases Interest Rates By 0.75%.
The baseline interest rate set by the US Federal Reserve has increased by 0.75 percentage points. New predictions indicate that…
Pencom Disputes Claims regarding employee remuneration.
According to a press release issued by the management and signed the regulatory authority; the highest paid employee makes less…
The NCC Plans To Generate N500billion From 5G Spectrum Sales By 2023.
The auctioning of two 5G spectrums in 2023 is expected to bring in N500 billion for the federal govt, according…
In 2022, Kenya Pension Bill Was Reduced By Sh18billion.
In the first two months of the current fiscal year, Kenya’s pension bill decreased by Sh17. 94 billion compared to…
Ghana’s Inflation Reached A 21-year High Of 33.9% In August.
In order to help the country get through the harsh economic situation it is currently experiencing as a result of…
Turkey’s Inflation Exceeds 80%
According to figures released, Turkey’s annual inflation increased to 80. 21% in August, somewhat less than expected; after the central…
Russian Cenbank Says Business Improved In August.
Russia’s central bank said on Wednesday that its business climate index remained in the positive range for the second month…
U.S., European Banks Could Lose Over $5 Bln From Risky Buyout Loans.
Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S.…
Kenyan Shilling Plunges Against Dollar Since William Ruto’s Victory.
Kenya’s currency, the shilling weakened against the dollar as the country’s election commission; announced Deputy President, William Ruto winner of…
Biden Signs The Inflation Act.
President Joe Biden signed into law a $430 billion bill that is the biggest climate package in U.S. History, designed…
General Atlantic Hires Durham For Tech Buyouts.
Private equity firm General Atlantic has hired veteran technology dealmaker Jonathan Durham to expand in corporate buyouts; an area in…
PayPal Registers To Indonesia’s Licensing Rules, Access Unblocked.
U.S. payments firm PayPal (PYPL.O) has registered as an electronic systems operator in Indonesia; and its customers can now access its services,…
AXA’s Shares Surge As Insurer Unveils Share Buyback And Higher H1 Profits.
French insurer AXA announced a new share buyback programme as it posted a 3% rise in first-half net profit, driving…
US Slips Into Recession After GDP Contracts By 0.9% In Q2 2022.
The United States of America recorded a 0.9% contraction in its gross domestic product in the second quarter of 2022.…
NNPC Commercialisation May Affect Govt Finances – Nigeria.
A member of the Nigerian Economic Summit Group, Dr Ikenna Nwaosu, says the recent commercialisation of the Nigerian National Petroleum…
United States’ Federal Reserve Raises Interest Rate By 0.75%
The Federal Reserve has raised its benchmark interest rates by 75 basis points for the second consecutive month in a…