Climate tax task force meets in US to close $2.4trn funding gap
Post AMUGE
April 15, 2024
Developing, vulnerable countries annual need To meet climate targets, Paris commitments France, Barbados, Kenya co-chair of ITTF PHILLIP ISAKPA IN STOCKPORT, UK The world will begin an attempt at moving the needle in the quest to close the huge estimated $2.4 trillion annual funding gap that developing and vulnerable countries require to meet their […]
CBN rate hike stirs fears of more pain for Nigerian SMEs
Post AMUGEApril 2, 2024
ONOME AMUGE & JOY AGWUNOBI As small and medium-sized enterprises (SMEs) in Nigeria grapple with rising borrowing costs, the Central Bank of Nigeria (CBN) has dealt them a new blow by raising the Monetary Policy Rate yet again. While the move is aimed at curbing inflation, analysts are concerned that the higher interest rates […]
Lenders drop $1.25bn to back Indorama’s fertiliser expansion
Post AMUGEMarch 25, 2024
For third production line of 1.4mmt capacity Firm agrees to greenhouse gas strategy Cynthia Ezekwe Indorama Eleme Fertiliser and Chemicals Limited, a leading producer of urea in sub-Saharan Africa, has secured a significant financing package worth $1.25 billion to enable the expansion of its fertiliser production capacity. This investment is expected to have […]
Tony Elumelu Foundation set to reveal new cohort of young African entrepreneurs
Post AMUGEMarch 21, 2024
Business a.m The Tony Elumelu Foundation (TEF) is set to change the lives of 1,200 African entrepreneurs across 54 countries, with the announcement of the 10th cohort of its life-changing TEF Entrepreneurship Programme on March 22, 2024. The 10th cohort of the Programme, an initiative of the leading African philanthropy empowering African entrepreneurs, is a […]
British Council, Prince’s Trust offer N2m grant to 8 young entrepreneurs
Post AMUGEMarch 16, 2024
Onome Amuge The British Council and Prince’s Trust International (PTI) have awarded eight Nigerian entrepreneurs a total of N2 million, as part of the Sustainable Enterprise Challenge Programme (TSECP). The programme, which kicked off with 60 participants aged between 18 and 35 years, came to an exciting conclusion on March 15, 2024, at the Zone […]
Slice off Nigeria’s FX pressure in Afreximbank $2.25bn to NNPCL
Post AMUGEJanuary 15, 2024
Onome Amuge Nigeria took a little slice off its foreign exchange pressure following the successful arrangement by the African Export-Import Bank (Afreximbank) of a syndicated $3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPCL) and its disbursement of $2.25 billion of the amount to the national oil company. A […]
Africa’s VC funding slump raises concerns over startup viability
Post AMUGEDecember 4, 2023
Onome Amuge Africa’s tech ecosystem has experienced a range of performance outcomes since the start of the year. While venture capital (VC) funding has not reached the record levels seen in 2021 and 2022, regulations and standards have taken center stage in efforts to govern and support the growth of the digital economy across […]
AfDB, FSDH ink $20m deal to spur SME growth in Nigeria
Agwunobi JoyDecember 4, 2023
The African Development Bank (AfDB) has signed a new $20 million trade finance facility with FSDH, a leading Nigerian non-bank financial institution. The facility is designed to support Small and Medium Enterprises (SMEs) in Nigeria by providing access to much-needed trade finance. Speaking at the signing ceremony in Lagos recently, Lamin Barrow, director-general of the […]
CBN coordinates banks, other financial institutions on a rescue mission to raise N1.5 trillion for infrastructure
Businessam StaffMarch 13, 2020
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said the apex bank would work in collaboration with commercial banks and other financial institutions in the country, to raise the sum of N1.5 trillion. The money will serve the purpose of financing the construction of critical infrastructure in Nigeria through a special purpose vehicle. Apparently, […]
CBN’s LDR policy improves access to credit – Business operators
Businessam StaffNovember 22, 2019
Members of the organised private sector (OPS) have said the directive by the Central Bank of Nigeria’s (CBN) that banks should channel 65 per cent of their lending to the real sector is impacting positively on access to credit. Representatives of the OPS disclosed that the policy has begun to provide solutions to the problem […]