Ecobank formally opens market on LSE after issuing $350m sustainability bond
Charles Abuede
June 23, 2021
Standing as the first Tier 2 sustainability notes by a financial institution in sub-Saharan Africa, Ecobank Group parent company, Ecobank Transnational Incorporated (ETI), has successfully listed its $350 million Sustainability Bond as the financial institution formally opened the market on the London Stock Exchange (LSE) main market. The banking institution, in a disclosure, revealed that […]
OCP Africa, Kaduna fertilizer plant, gets $1.4m fund from USAID Trade Hub
Adeola Ajakaiye, in KanoJune 22, 2021
By Adeola Ajakaiye, in Kano The USAID-funded West Africa Trade & Investment Hub (Trade Hub) has awarded a $1.4 million co-investment grant to OCP Africa Fertilizers Nigeria Limited (OCP Africa) to install modern blending equipment within its fertilizer blending plant facility under construction in Kaduna State, Nigeria. The blending equipment will help bridge the […]
Nigeria’s plastic manufacturers say poor electricity harming production
Onome AmugeJune 22, 2021
Nigeria’s erratic electricity output, spurred by poor power supply from the national grid, is one of the biggest challenges facing plastic manufacturing companies as they are forced to increase production cost to provide alternative power and maintain operations. Shyam Barakale, general manager of Pentagon Plastic Industries Ltd (PPIL), who decried the country’s poor power production […]
OPIC fire: Nigeria should integrate insurance into emergency plan
Zainab IwayemiJune 22, 2021
As a solution to the rising accidents claiming the lives of Nigerian citizens, an insurance industry expert has canvassed for insurance to be made part of Nigeria’s national emergency management plan to enable citizens recover quickly after a sad event. Contained in a position statement made available to businessamlive.com and titled, “Time for Insurance to be […]
MTN, CarePay commit to growing insurance in Nigeria
Zainab IwayemiJune 22, 2021
Nigeria’s biggest telecommunication firm, MTN Nigeria, and health fintech company, CarePay, have joined forces to expand insurance healthcare coverage in Nigeria. Amaechi Ndili, executive chairman, CarePay Nigeria, in a statement said the partnership would enable CarePay’s digital health leverage on the huge network of MTN to improve access to affordable quality healthcare in the country. […]
Nigeria’s electricity deficit: Experts see solution in full privatisation of power sector
Ben EguzozieJune 22, 2021
DisCos report inefficiency 50%, above global best practice’s 15% Inefficiencies, tariff irregularity affect electricity payment chain Cumulative tariff collection shortfalls 2015–19 hit N1,678trn; with 2019 alone N524bn 500,000 to 800,000 households need to be connected yearly to achieve universal electricity access Experts knowledgeable within the electricity production, distribution and management value chain say that full […]
Six decades on, insurance industry struggles to make impact in Nigeria
Zainab IwayemiJune 21, 2021
Nearly seven decades after independence, many sectors of the Nigerian economy have responded differently, some positively, some lukewarmly, to developments that have shaped the various outcomes of businesses, operators and activities, yet some have lagged, unable to meet up with the weight of expectations placed on them. For instance, in the financial services sector, while […]
Again, Emirates suspends Nigeria flights, extends suspension of South African routes
Sade WilliamsJune 20, 2021
By Sade Williams Barely 24 hours after the United Arabs Emirates relaxed its COVID-19 protocols for Nigeria and some countries which necessitated its airline, Emirates to announce airlifting of passengers from Lagos and Abuja from 23rd of June, the airline has suddenly, announced suspension of flights from Nigeria. Emirates airline stated in a message […]
GTB, Zenith, Nigerian Breweries, drive positive NGX rally as investors gain N26.3bn
Charles AbuedeJune 18, 2021
The positive trading rally was sustained in the Nigerian equities market on Thursday from price appreciation in GTBank (+1.8%), Nigerian Breweries (+1.2%), and Zenith Bank (+0.4%) which lifted the NGX All-Share Index by 0.13 percent to 38,615.11 points. This helped to improve the year-to-date (YTD) loss to -4.1 percent while market capitalisation advanced to N20.13 […]
World Bank, IMF set up group to drive recovery, growth in the face of COVID-19
Charles AbuedeJune 18, 2021
To advance understanding of key policy, institutional issues The World Bank and the International Monetary Fund (IMF), two of the world’s biggest multilateral financial institutions, in a joint and strategy partnership, have launched a High-Level Advisory Group (HLAG) on sustainable and inclusive economic recovery and growth to help set course through the […]