Capital Market Rose By N248 Billion
The dominance of the bulls continued unabated for the third consecutive session, yesterday, as almost all the blue chip stocks recorded price appreciation, resulting in a further rise in market…
UK Self-Driving Startup Wayve Raises $200 Mln From Investors
British self-driving technology startup Wayve said on Tuesday it has raised $200 million from investors to scale up its autonomous driving technology globally and launch more pilot projects with commercial…
Nigeria: FG Appoints New Director For NSIA
The Federal Government has approved the appointment of Dr Ogechi Paschal-Ejiogu to the board of directors of the Nigeria Sovereign Investment Authority. A statement on Thursday said she replaced Mr…
Cardinalstone Securities Trades N143.6bn On NGX
Cardinalstone Securities Limited has said it traded a total value of N143.6bn on the Nigerian Exchange Limited. A statement on Wednesday said this was according to the broker performance report,…
Days After Listing, BUA Foods’ Shares Jump 46.25%, Market Cap Hits N1.053trn
The shares of BUA Foods Plc have appreciated by 46.25 percent on the Nigerian Exchange Limited (NGX) after its formal launch last week. During a four -day trading session on…
Gains In BUA Foods, 27 Stocks Lift Capitalisation Further By N28 Billion
Transactions on the equities sector of the Nigerian Exchange (NGX) market capitalisation increased by N28 billion yesterday, amid sustained bargain hunting in BUA foods and 27 stocks. Specifically, the All-Share…
Google chooses SafeBoda for Africa fund’s first deal
Google’s first investment from its Africa Investment Fund has gone to SafeBoda, a transport startup with operations in Uganda & Nigeria. The Investment Fund aims at SafeBoda’s growth in Uganda…
Nigeria: FG projects 233% increase in FDI, eyes $5bn
Nigerian FG has said it will increase Foreign Direct Investment into Nigeria from $1.5bn in 2022 to $5bn by 2025 The projected increase in FDI will aid improve the country’s…
Nigeria Finance Act: Investors To Pay 10% Tax On Sale Of Shares In Any Nigerian Company
Investors on the Nigerian Stock Exchange are to pay a Capital Gains Tax of 10% on the sale of shares. This is according to provisions of the signed Finance Act…
Dubai’s Global Ventures Close To Raising $100 Mln Target For Second Fund
Dubai-based Global Ventures is close to meeting a $100 million target for its new fund after attracting investments from Abu Dhabi and Saudi Arabia’s state investors, insurer Bupa Arabia (8210.SE)…
Alitheia IDF Hits Target With Gender-Lens Fund’s Final Close
The management of Alitheia IDF (AIF), Africa’s women-led and women-focused private equity fund. It announced the final close of the $100 million fund with European Investment Bank (EIB) joining as…
With 200 Deals, Nigeria Tops List Of Beneficiaries Of $5bn Investments
Nigeria tops the list of African countries that benefitted from the $5 billion raised by Africa’s technology start-ups in 2021. Investors from the United States and China piled into companies…
Seven Companies Delist, Three Lists On NGX In 2021
A total of seven companies delisted and three were listed on the Nigerian Exchange Limited (NGX) in 2021 amid expectation that the stock market might close the year positive. The…
The World’s Largest Crypto Exchange Binance Is Trying To Woo France
Crypto giant Binance is bolstering its presence in France after a choppy year of regulatory scrutiny. The world’s largest cryptocurrency exchange is financing a 100 million euro ($113 million) initiative…
Starboard Acquires Stake Worth $800 Mln In GoDaddy
Activist investor Starboard Value LP has purchased a 6.5% stake in web services firm GoDaddy worth about $800 million, according to a regulatory filing with the U.S. Securities and Exchange…
Didi Bars Employees From Selling Shares Indefinitely
Chinese ride-hailing giant Didi Global has barred current and former employees from Employees will not be able to sell shares until after the company has listed in Hong Kong, according…
Foreign Investors Withdraw N173.32bn From Stock Market
Foreign investors pulled out a total of N173.32bn from the Nigerian stock market from January to October, official data obtained on Monday show. The Nigerian Exchange Limited, in its latest…
Investors Record N260bn Weekly Gain As 32 Stocks Rise
Investors in the Nigerian stock market gained N260bn as 32 firms saw their share prices rise at the end of trading last week. The NGX All-Share Index and market capitalisation…
Online Learning Platform Raises $3.5m Pre-Seed Funding
Edukoya, an online learning platform, says it has raised $3.5m in pre-seed round to enable its live launch in 2022. The round was led by Target Global and had participation…
Google Announces Investment In Tech Startup
Google has announced its first investment from its Africa Investment Fund in SafeBoda, a tech firm that operates in Nigeria and Uganda. It said in a statement that this investment…
China Mobile To Raise Up To $8.8 Bln In Shanghai Listing
China Mobile the world’s largest mobile network operator by total subscribers, said on Tuesday it aims to raise up to 56 billion yuan ($8.8 billion) in a Shanghai public offering,…
Access Bank’s Shareholders Approve Proposed Holdco Structure
Shareholders of Access Bank Plc have given the nod for the bank to proceed with its proposed restructuring into a Holding company status. Access Bank Plc had last week announced…
FEC Okays Startup Bill ‘To Provide Enabling Environment’ For Entrepreneurs
The federal executive council (FEC) has approved the Nigeria startup bill to provide a conducive environment for entrepreneurs. Isa Pantami, minister of communications and digital economy, disclosed this on Wednesday…
Lack Of Seamless Access To Forex May Delay 5G Rollout
The Chairman, ALTON, Gbenga Adebayo, had disclosed at the NCC’s 2021 board and management retreat in November that one of the problems plaguing the telecoms industry was a lack of…
MTN Shares: Shareholders Call For Extension
Shareholder groups of MTN Nigeria have called on the management of the company and the Securities and Exchange Commission (SEC) to extend the telco giant’s Public Offer, which closed yesterday,…
Elon Musk Sells More Tesla Shares
SpaceX and Tesla CEO Elon Musk sold another 934,091 shares of his electric car company, which are worth around $906.49 million, according to a pair of financial filings with the…
Steelpack Deal Makes Two For Vuna Partners’ Maiden Fund
Vuna Partners, a sector-agnostic mid-market private equity firm which recently hit another milestone for its maiden fund, has sealed its second transaction with the acquisition of SA Steelpack Solutions. “The…
B Investments Makes First Deal For New Healthcare Platform
B Investments Holding announced the establishment of B Investments in Healthcare, with a licensed capital of LE 1 billion, to invest in Egyptian companies in the field of specialized healthcare.…
RMB Teams Up With ZX Ventures To Back Non-Alcoholic Drinks Firm
South African financial services firm Rand Merchant Bank (RMB) has picked up an equity stake in The Duchess, joining ZX Ventures as an investor in the maker of alcohol-free drinks.…