MTN says no specific date for Nigeria public offering
Businessam Staff
May 28, 2018
MTN Group said there is no specific date for its initial public offering yet as it is still perfecting details of the proposed listing. A spokesperson of the company who spoke to NAN on Monday said details of the IPO will be announced at the appropriate time. According to NAN, the Securities and Exchange Commission […]
I lost N52million in the 2007-2008 stock market crash, but I’m recouping today- Shareholder
Adesola AfolabiMay 26, 2018
Jafar Adegbola is one of Nigeria’s stoic domestic investors who has weathered the storm with other investors across the world, who got burnt by the 2007/2008 global financial crisis. While some Nigerian investors have long lost their interests in financial investments and sought other means of raising income to run their business and secure means […]
Nigeria raised N50.45bn from bonds auction in May
Businessam StaffMay 24, 2018
The Nigerian government has raised N50.45 billion from its May bonds auction, about N20 billion lower than the N70 billion raising targeted, according to the Debt Management Office (DMO). The auction results for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 13.50% FGN MAR 2025 (Reopening 7-Year Bond) and 13.98% FGN FEB 2028 (Re-opening 10-Year […]
Nigerian tech start-ups received 81% of venture capital funding in Africa in 2016
Businessam StaffMay 23, 2018
Nigerian tech start-ups received approximately $109 million venture capital funding in 2016, representing a whopping 81 percent of the $366 million channeled to the African continent, according to Edward George, country head, UK Representative Office & head of group research at Ecobank in a paper, “The Fintech Landscape in Africa” he presented in Nairobi May […]
Nigeria’s Lidya raises $6.9m to expand loan book for MSMEs
Businessam StaffMay 23, 2018
Lidya, Nigeria-based digital financial services platform focused on improving access to credit for micro-, small-, and medium-sized enterprises (MSMEs) in Africa, Wednesday announced that it has raised $6.9 million in a Series A investment round, one of the largest in Nigerian tech history. The funds raised in the round would allow Lidya expand its loan […]
Nigeria pension authority advocates micro pension plans for small firms, sole proprietors
Adesola AfolabiMay 21, 2018
Nigeria’s National Pension Commission (PenCom) has released a draft framework for micro pension plan for stakeholders’ consideration and comments, according to Deloitte Nigeria in a report. According to the report, the framework seeks to extend pension coverage to employees of organisations with less than three employees and self-employed persons (Micro Pension Contributors) in accordance with […]
Investors’ bet on longer dated instruments to be sustained
Businessam StaffMay 21, 2018
Stable macroeconomic indices are boosting investors’ confidence as they bet on longer-dated instruments, taking the bull position in the hope that the instrument prices would rise in the future and make a profit. Thus, given the moderating yield environment as well as the impact of the downward trend in inflation, analysts say they expect investors’ […]
AfDB approves $100m senior loan to Nigeria’s Indorama Fertilizer
Businessam StaffMay 17, 2018
The African Development Bank has approved $100 million senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum. The Bank’s intervention follows a previous loan extended to Indorama Fertilizer in 2013 for […]
Fintech company Cellulant raises $47.5m to bridge financial inclusion gaps in Africa
Businessam StaffMay 15, 2018
The streak of big-ticket investment in African fintech companies shows no signs of stopping as Cellulant, the digital payments solutions company operating in 11 African countries has raised $47.5 million in its Series C round—one of the largest for a solely Africa-focused venture-funded company. The round was led by The Rise Fund, an impact investment […]
Only 8.5% of bitcoin, cryptocurrency traders are female
Joel EneogweMay 14, 2018
A new demographic analysis of people trading in cryptocurrencies has shown that only very few – 8.5 percent – are female, with most having little to no previous experience. The study also showed that many of this 8.5 percent are students or working in sales and marketing roles. The research, conducted by Etoro, a social […]