Afreximbank unveils TRADAR Club to promote African trade, investments
Onome AmugeDecember 20, 2022
By Onome Amuge The African Export-Import Bank (Afreximbank) has introduced TRADAR Club, a member-driven network with the goal of empowering international businesses and executives to transform trade and investments in Africa. This was disclosed in a statement signed by Amadou Sall, Afreximbank’s media contact in Abuja. The statement said that TRADAR Club, […]
Polaris bank introduces VULTe to enhance loan acquisition
Cynthia EzekweDecember 19, 2022
By Cynthia Ezekwe In a bid to curb the daunting processes individuals and entrepreneurs undergo to acquire loans, Polaris Bank has introduced VULTe digital bank to make the process hassle free. A statement by Polaris bank, explained that VULTe is a digital bank created to offer individuals and SMEs unique features and opportunities to improve […]
Norrenberger unveils dollar fund to aid investors mitigate currency devaluation
Cynthia EzekweDecember 19, 2022
By Cynthia Ezekwe Norrenberger, an integrated financial services group, has introduced its new product– ‘‘Norrenberger Dollar Fund’’, to assist investors alleviate currency devaluation, and enable them to enjoy higher returns. The dollar fund was approved by the Securities and Exchange Commission(SEC), and programmed to offer capital appreciation and diversification to investors. The new product, when […]
Forex Market: Will the US Dollar Continue to Gain Strength or Will it Weaken Further?
Animashaun LutherDecember 18, 2022
The dollar has risen in value dramatically this year, thanks in large part to the efforts of the Federal Reserve to increase interest rates. This aims at curbing the present sky-high inflation by making it more expensive to borrow money. With respect to the bad performance of bonds, stocks, cryptocurrencies, and real estate, the strength […]
Nigerian MSMEs face N13trn credit deficit, IFC reports
Onome Amuge, Rosemary IwualaDecember 14, 2022
By Onome Amuge/Rosemary Iwuala Nigerian micro,small and medium enterprises (MSMEs) have an unmet demand for credit of approximately N13 trillion, equivalent to $32.2 billion, according to a recent report published by the International Finance Corporation (IFC). Based a survey of about 1,000 MSMEs across Nigeria, the corporation in its report titled “Market Bite Nigeria:Innovation Offers […]
Norsad Capital,TLG Capital establish $400m credit platform to support African businesses
Onome AmugeDecember 14, 2022
By Onome Amuge Norsad Capital and TLG Capital have initiated a joint partnership with combined assets under management of circa $400 million towards investments in mid-sized companies in sub-Saharan Africa (SSA). Both companies are long-standing investors in the region and alongside financial return, aim to create strong social impact by financing primarily the mid-market […]
National Theatre revamp rises 100% to $200m
Rosemary IwualaDecember 14, 2022
By Rosemary Iwuala Two years after it took over renovation of the National Arts Theatre (NAT), the Bankers’ Committee has said the cost of rehabilitating the national edifice as well its surrounding ecosystem would cost $200 million, $100 million more than what was initially budgeted. Godwin Emefiele, the governor of the Central Bank […]
N9.71trn intervention funds disbursed in 3 years, CBN claims
Cynthia EzekweDecember 13, 2022
By Cynthia Ezekwe The Central Bank of Nigeria said it has disbursed a total of N9.71 trillion through various interventions to support the sustenance of various sectors across the economy in the last three years. Aishah Ahmad, the deputy governor, Financial System Stability Directorate of CBN made this known while discussing the importance of federal […]
Aruwa Capital exceeds $20m target to boost economic growth
Cynthia EzekweDecember 12, 2022
By Cynthia Ezekwe Aruwa Capital, a female founded and led equity and investment company based in Lagos,Nigeria has announced that its first institutional fund was oversubscribed and exceeded its expected target of $20million. A statement by the company noted that the fund aims to create more sustainable and scalable pathways for economic growth through its […]
Stanbic IBTC issues N19.9bn to bridge Nigeria’s infrastructure funding gap
Cynthia EzekweDecember 12, 2022
By Cynthia Ezekwe Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, has announced the issuance of a N19.997 billion series III offer under its Stanbic IBTC Infrastructure Fund N100 billion programme. A statement by the financial institution said the fund is targeted at bridging the funding gap in Nigeria’s infrastructure sector through investing […]