Afreximbank issues $10m trade finance facility to Parallex Bank for Nigerian SMEs
Cynthia EzekweMarch 30, 2023
By Cynthia Ezekwe African Export-Import Bank (Afreximbank) has provided a $10 million trade finance facility for Nigeria’s Parallex Bank Limited to support Small and Medium-sized Enterprises (SMEs). The financing is deployed under the Afreximbank’s Trade Facilitation Programme (AfTRAF), which is part of Afreximbank’s strategy to assist African banks in enhancing and complementing existing trade finance […]
Payday raises $3m in seed round to boost expansion, talent acquisition
Business a.m.March 30, 2023
By Business A.M. Payday,a leading Pan-African neobank issuing global accounts to Africans, has announced a $3 million fund which will be deployed to expand its services to a wider audience and boost talent acquisition. The seed round was led by Moniepoint Inc, with participation from HoaQ, DFS Lab’s Stellar Africa Fund, Ingressive Capital Fund II […]
PIAFo stakeholders to dissect pending NITDA Bill April 13
Businessam StaffMarch 29, 2023
Organisers of the fast-growing consultative event brand, Policy Implementation Assisted Forum (PIAFo), have dedicated the event’s next edition to robust engagement on the pending amendment bill of the National Information Technology Development Agency Act (NITDA) Bill 2021. The event, now in its fifth edition, is slated for Thursday April 13, 2023 at The Colossus Lagos, […]
CBN issues draft guidelines for banks, OFIs on operating licence conversion
Onome AmugeMarch 29, 2023
By Onome Amuge The Central Bank of Nigeria (CBN), has released an exposure draft of regulatory guidelines for change of operating licence for banks and Other Financial Institutions (OFIs). The apex bank, in a circular signed by Chibuzo Efobi, director, financial policy and regulation department, CBN, dated march 28,2023, said the guidelines were drafted due […]
Fez Delivery secures $1m funding to expand last mile logistics platform
Business a.m.March 29, 2023
By Business A.M. Fez Delivery, a leading logistics and delivery company, has raised a $1 million seed fund in a round led by Ventures Platform, with participation from Voltron Capital, Acasia Ventures , and other angel investors. The funding is expected to enable the Nigerian company to deepen its operation in the country and also, […]
Zenith Bank CEO, Onyeagwu earns doctorate at UNN for services to banking & finance industry
Business a.m.March 27, 2023
By Business A.M. Ebenezer Onyeagwu, the group managing director/chief executive officer of Zenith Bank Plc, has been conferred with a doctorate degree in Business Administration by the University of Nigeria, Nsukka (UNN). The conferment,which took place during the 50th convocation ceremony of the university at the weekend, was in recognition of Onyeagwu’s immense achievements as […]
Obelix Marks 100 Days of Operations, Reiterates Commitment to Empower SMEs
Businessam StaffMarch 26, 2023
The SEC-regulated crowdfunding intermediary, Obelix, marks a hundred days since it commenced operations and has vowed to continue to empower Small and Meduim Enterprise Businesses. According to a statement on Friday, the company said it operated a funding portal, monieworx, enabling 3 SMEs to raise 100 million from its retail investor community. The company said […]
WTO canvasses trade financing to boost competitiveness of African businesses in international markets
Cynthia EzekweMarch 24, 2023
By Cynthia Ezekwe The World Trade Organisation (WTO) has identified access to trade finance as a major driver of a company’s competitiveness in the international market, and a boost to trade growth in Africa Ngozi Okonjo-Iweala, director general of the intergovernmental organisation that regulates and facilitates international trade,stated this in a video presentation delivered to […]
Tony Elumelu marks 60th birthday in style as 60 TEF beneficiaries pay tribute to his service to humanity
ONOME AMUGE & CYNTHIA EZEKWEMarch 22, 2023
By Onome Amuge & Cynthia Ezekwe Tony Elumelu is the founder of and chairman of Heirs Holdings, a private Investment firm with significant investments in various sectors across Africa, comprising financial services, power, oil and gas, real estate, hospitality and healthcare. The astute business tycoon, who is also the chairman of pan-African financial services group, […]
CBN disburses N12.65bn for ABP intervention projects in two months
Luther AnimashaunMarch 22, 2023
By Luther Animashaun The Central Bank of Nigeria (CBN), said it has released not less than N12.65 billion to the Anchor Borrowers Programme (ABP) in the first two months of 2023. Godwin Emefiele, the CBN governor, stated this in a communique issued at the end of the 290th meeting of the apex bank’s monetary policy […]