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 […]
LCFE inducts 83 commodities brokers
business AMDecember 12, 2022
By Business AM 83 commodities set to make calls In pursuit of its strategic manpower development, pan African Exchange, the Lagos Commodities and Futures Exchange (LCFE), has unboarded, trained and inducted 83 commodities brokers, in collaboration with the Chartered Institute of Stockbrokers (CIS) to drive seamless transaction on the Exchange which thrives on trading of […]
NDIC ups intermediation role for AfCTA implementation in Nigeria
Adeola AjakaiyeDecember 12, 2022
By Adeola Ajakaiye Recovers N8.3bn for 248 complaints in 11 months Nigeria Deposit Insurance Corporation( NDIC says it is stepping up its support for the implementation of the Africa Continental Free Trade Agreement(AfCTA) by straightening its intermediation role for financial and monetary institutions in the country. This development is coming on the heels of the […]
Dividends for equity returns in 2023
business AMDecember 12, 2022
By Business AM Analyst Insight: Coronation Capital Dividends have made an important contribution to total equity returns in 2022. What is the outlook going into 2023? It helps that the NGX All-Share Index is up this year, but not so much as to reduce the significance of dividends. As is proving to be the case […]
Bankers’ Committee pledges N500bn annual loan for non-oil exporters
Rosemary IwualaDecember 12, 2022
By Rosemary Iwuala The Bankers’ Committee comprising the Central Bank of Nigeria (CBN), chief executive officers of Deposit Money Banks (DMBs) and other financial institutions have agreed that banks will grant at least N500 billion in loans to exporters yearly to nurture domestic production and grow Nigeria’s export value. Godwin Emefiele, the CBN governor , […]