FCMB Group Shareholders Approve N340 Billion Capital Raise
FCMB Group Plc has secured shareholder approval to raise N340 billion in capital to strengthen its banking subsidiary, First City…
Category: investment
Zest AI secures $200 million to expand credit tech and pursue acquisitions
Zest AI, a credit underwriting solutions provider, has secured a $200 million growth investment from its long-time investor, Insight Partners.…
Rainier Partners Acquires WPAS to Expand Multi-Employer Benefits Administration
Rainier Partners, a Seattle-based private equity firm, has announced its investment in Welfare & Pension Administration Service (WPAS), a leading…
USTDA and Meridiam Join Forces for African Infrastructure Development
The United States Trade and Development Agency (USTDA) and Paris-based Meridiam SAS have signed a Memorandum of Understanding (MOU) to…
SEC Draft Rules Open Pension Funds to Commercial Papers Investment
The Securities and Exchange Commission (SEC) has released draft rules enabling pension funds in Nigeria to resume investments in commercial…
US Stocks Fall as Fed Signals Slower Pace of Rate Cuts
US stock markets experienced significant declines following the Federal Reserve’s decision to cut interest rates for the third time in…
Capital Economics sees muted Saudi growth into 2025
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative oil policies and fiscal consolidation…
Hedge Funds Turn to Macro Strategies Amid Market Volatility in 2025
Hedge fund investors are prioritizing macro strategies for 2025, driven by anticipated political and economic turbulence under the incoming U.S.…
As bitcoin soars, luxury brands consider accepting crypto payments
The recent surge in Bitcoin’s value has sparked interest among luxury brands to explore cryptocurrency as a payment option, aiming…
UBA to Expand SMEs Lending, Invest in Digital Technology with N239.4bn Rights Issue
United Bank for Africa (UBA) Plc has announced plans to utilize the net proceeds of its ongoing N239.4 billion rights…
Foreign portfolio investment in the stock market rises 180.9%
Foreign Portfolio Investments (FPIs) in the Nigerian stock market surged by 180.95% in the first ten months of 2024, reaching…
NIPC seeks partnerships to attract, retain investments
The Nigerian Investment Promotion Commission (NIPC) has reinforced its commitment to driving economic growth by attracting new investments and retaining…
FG, World Bank invest $600m on rural roads
The Federal Government of Nigeria, in collaboration with the World Bank, has earmarked $600 million to rehabilitate 200,000 kilometers of…
Equities market gains 1.19%, ASI nears 100,000-point mark
The Nigerian equities market ended the week of November 13, 2024, on a note, with the NGX All-Share Index (ASI)…
Stock market sustains positive trend amid portfolio repositioning
The Nigerian stock market extended its bullish run last week, driven by increased investor confidence and seasonal factors like the…
Interest rate, others drive up investments in Mutual Funds by 89.12%
The Mutual Funds market in Nigeria has witnessed a remarkable 89.12% year-on-year growth, with the total Net Asset Value (NAV)…
Firm launches wealth management App with diverse investment opportunities
Smart Stewards has launched Wealth Sync, a wealth creation app aimed at individuals, small businesses, and corporate organizations to provide…
UBA Outperforms Peers As Investors Earn 375% Capital Returns
United Bank for Africa (UBA) has delivered an impressive 375% capital gain to its investors over the past five years,…
Foreign investments in telecoms crash by $99m – NBS
Foreign investments in Nigeria’s telecommunications sector dropped significantly in the third quarter of 2024, falling to $14.4 million, an 87%…
PenCom Restores Investment In Commercial Papers By LPFAs
The National Pension Commission (PenCom) has lifted its temporary suspension on Licensed Pension Fund Administrators (LPFAs) investing in commercial papers…
Delta State’s Strategic Investment in UTM FLNG: A Game-Changer
Delta State’s acquisition of an 8% stake in the UTM Floating Liquefied Natural Gas (FLNG) plant is being hailed as…
Investment banking hits major deals in 2024 –AIHN President
The Association of Issuing Houses of Nigeria (AIHN) recognized significant achievements in the investment banking sector during its annual Investment…
Investors favour equity over debt as private investment rises to $2.27bn
Private capital investment in Africa reached $2.27 billion in Q3 2024, with equity emerging as the dominant financing choice, according…
Nigeria’s Investment Appetite Grows as Mutual Funds Rise 89.5% to N3.8trn
Nigerian investors’ preference for secure, high-yielding opportunities has driven the Net Asset Value (NAV) to N3.781 trillion in early November…
Nigeria’s Economy Stable and Ready for Investment
Nigeria’s Finance Minister, Wale Edun, has declared the country’s macroeconomic environment stable and conducive to investment. Speaking at the National…
Nigeria’s Power Sector Set to Seek $10 Billion in Private Investment for 24-Hour Electricity Supply
The Nigerian government aims to bridge a $10 billion investment gap in the power sector through Public-Private Partnerships (PPP) over…
NCDMB Seeks Industry Support to Boost Nigeria’s Crude Oil Output and Energy Security
The Nigerian Content Development and Monitoring Board (NCDMB) has called for robust support from industry stakeholders to attract foreign direct…
British International Investment Provides $30M to Boost Renewable Energy in Nigeria
InfraCredit has received a $30 million risk-sharing and blended local currency facility from British International Investment (BII) to support renewable…
PenCom Targets Self-Employed Professionals with Enhanced Micro Pension Scheme
The National Pension Commission (PenCom) has announced plans to expand and promote its micro pension initiative among self-employed professionals, including…
Stock market posts N83bn gain on positive trading
The Nigerian Exchange Limited (NGX) closed Monday in positive territory, gaining N83 billion in market capitalization, marking the third consecutive…