Global fintechs investors launch guidelines on responsible financing
Adesola Afolabi
June 27, 2018
In recognition of the increase in investment opportunities and the rising risk faced by investors in the fintech and financial inclusion spaces, a set of guidelines for investing in responsible digital financial services have been launched by an international network of over 50 fintech investors and innovators. Explaining the importance for such move the signatories […]
U.S-China trade war prompts Canadian farmers to shift planting of Wheat to Canola
Bukola OdufadeJune 27, 2018
Canada’s farmers have been caught up in the escalating trade war between China and U.S, Bloomberg reports. It has caused a drop in North American grain prices that probably prompted Canada’s growers to abandon some of their plans to plant more wheat and instead shift back to canola. The nation’s farmers likely sowed 21.87 million […]
TCN Raises $1.57bn in 2-Yrs to Expand, Stabilise National Grid
Afolabi OluwaseunJune 27, 2018
Usman Gur Mohammed the managing director, chief executive officer of the Transmission Company of Nigeria (TCN), has disclosed that the company has raised $1.57 billion (N540billion) in the past two years, according to a report by Leadership. According to him, the fund was raised through the Transmission Rehabilitation and Expansion Program (TREP) which seeks to […]
ADB to provide Bangladesh with $500 mln loan for power plant
BusinessamJune 27, 2018
An Asian Development Bank (ADB) official on Wednesday says the bank will provide Bangladesh with a $500 million loan to set up an 800 megawatt (MW) power plant in the south western region of Khulna, according to Reuters. The plant which is operating on the latest technology, will help meet the south Asian country’s growing […]
Nigeria raises $1.57bn for power transmission management
Bukola OdufadeJune 26, 2018
Nigeria has raised $1.57 billion for the rehabilitation of its transmission infrastructure from international backers, Usman Gur Mohammed, managing director of the Transmission Company of Nigeria (TCN), has said. Mohammed disclosed this on Tuesday in Abuja saying that TCN was acquiring Supervisory Control and Data Acquisition System (SCADA), a new energy management platform, which would […]
Renewed profit taking dampens Nigeria’s stock market as NSEASI dips 0.01%
Adesola AfolabiJune 26, 2018
The Nigerian bourse Tuesday reversed gains from previous session as losses in market bellwethers – INTBREW (-6.1%) and ZENITH (-1.7%) – pulled benchmark index, The NSEASI 1bp lower to 37,988.54 points. Similarly, the market capitalization dipped by N1.30 billion, representing a decline of 0.01 percent to close at N13.76 trillion, while year to date losses […]
Nigeria’s Port Harcourt emerging as WFZO’s regional office
Ben EguzozieJune 26, 2018
…business, jobs coming into a depressed economy The World Free Zones Organization (WFZO), a body created to represent the interests of free zones around the world, would be establishing a regional office in Port Harcourt, Rivers State capital and Nigeria’s oil hub. It would be the first of such in all of West Africa. The […]
Oil rises as outages balance trade dispute
Temitayo AyetotoJune 26, 2018
Oil prices rose on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports, but under pressure from climbing OPEC supply and intensifying trade conflicts between the United States and other major economies, according to monitored report. Benchmark Brent crude was up 35 cents at $75.08 a barrel while light crude was 35 cents […]
Bob Diamond controlled Atlas Mara raises stake in Nigeria’s Union Bank to 49%, heading for majority holding
BusinessamJune 26, 2018
Atlas Mara Limited, the sub-Sahara African financial services group controlled by Bob Diamond, the former Barclays Bank top rated investment banker and chief executive, has announced further acquisition of shares in Nigerian lender, Union Bank, in what many analysts are beginning to interprete as a steady climb towards taking a controling stake in the bank. […]
Goldman Sachs predicts England-Brazil World Cup final
BusinessamJune 26, 2018
Goldman Sachs’ has predicted a World Cup final between Brazil and the English national team after updating their prediction model as the tournament draws to a close next month. The investment bank used machine learning tools analysing over 1000 variations to predict a Germany vs Brazil final ahead of the tournament. Germany has however, performed underwhelmingly […]