Standard Chartered’s Digital Retail Bank Begins Operations in Ghana, Tanzania

By Modupe Gbadeyanka Like a golden fish, which has no hiding place, Stanbic IBTC Capital, the investment banking subsidiary of Stanbic IBTC Holdings, was the cynosure of all eyes at the recently concluded Association of Issuing Houses of Nigeria (AIHN) Investment Banking Dinner and Awards ceremony. At the event held in Lagos, the company went home with five awards, named as the Best Investment Bank in Nigeria, the Equity Deal of 2022, the Best Equity House of 2022, the Best Corporate Bond House 2022 and the M&A Deal of the Year 2022. The recognitions spread across Stanbic IBTC Capital’s Advisory,

By Bliss Okperan Users of neo banks like Opay, Carbon, Kuda, and PalmPay, among others, are worried over the new directive of the Central Bank of Nigeria (CBN), which intends to freeze bank accounts not linked to a Bank Verification Number (BVN) and a National Identity Number (NIN). Last week, the apex bank directed deposit money banks (DMBs) to place a “Post No Debit (PND)’ on any accounts with BVN and NIN from next year. For most neo banks, account numbers are opened with just users’ phone numbers without the BVN, unlike the traditional banks. However, they cannot make transactions

By Adedapo Adesanya Nigerian bank, Union Bank, alongside energy company, Riverside LNG of Nigeria, have signed different agreements that involve a $500 million renewable energy pact and gas export between Nigerian and German entities. Union Bank and DWS Group signed a pact on cooperation in renewable energy while Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership. President Bola Tinubu witnessed the signing of the two Memoranda of Understanding (MoU) in Berlin, Germany, at the 10th German-Nigerian Business Forum, according to Mr Ajuri Ngelale, the President’s Special Adviser on Media and Publicity.

By Aduragbemi Omiyale The Banker magazine, a publication of the Financial Times, has announced Stanbic IBTC Holdings Plc as the Bank of the Year in Nigeria. The Nigerian financial institution was honoured by the media platform as an awards cement held on Thursday, November 30, 2023, in London. The event, widely acknowledged as the Oscars of the Banking Industry, attracted several critical stakeholders in the global banking sector. It was explained that Stanbic IBTC Holdings was picked for the recognition because of its exceptional achievements in banking excellence, adept navigation of industry challenges, and commitment to providing innovative financial services

By Modupe Gbadeyanka The need for stakeholder to collaborate in order to improve Africa’s fintech industry has been stressed by stakeholders in the sector. At the launch of the continent’s first blockchain platform for payment processing, Zone, designed by Appzone, participants agreed that the finance and payment landscape needs more hands on deck. They applauded Appzone for the initiative, saying it will play in decentralizing payments and inter banks transactions across Africa. The CEO of Sparkle, Mr Uzoma Dozie, in his keynote address, disclosed that with the right amount of collaboration and adoption, Zone will improve existing payment infrastructure and

By Dipo Olowookere The proposed sale of 539,003,333 ordinary shares of 50 kobo each of C&I Leasing Plc through rights issue has received the approval of the Securities and Exchange Commission (SEC). The company has been given the go-ahead to conduct the rights issue by opening subscription from Monday, November 18, 2019 and close the exercise by Friday, December 27, 2019. C&I Leasing is selling the new shares to existing shareholders of the firm on the basis of four new ordinary shares for every three ordinary shares held as at the close of business on Wednesday, September 4, 2019. In

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange was pulled into bearish territory on Thursday, January 12, by a drop in the stock price of Central Securities Clearing Systems (CSCS) Plc. The equities of the company punctured the unlisted securities market by 0.24 per cent at the close to trades yesterday. This scrapped off N2.19 billion from the total value of the alternative exchange as the market capitalization closed at N927.42 billion compared with the N929.61 billion it quoted at the previous session. Also, the NASD Unlisted Securities Index (NSI) shed 1.67 points to end the day at 705.79

By Dipo Olowookere Mining Indaba delegates were offered a sneak preview of some ground-breaking work in Ghana, designed to unpack new approaches to linkages, investment and diversification in the country’s minerals sector during the Linkages Panel Session on 8 February 2017. The Mining Indaba Special Information Session on 8 February 2016 shared findings from a new economic assessment on linkages and domestic procurement in Ghana, conducted jointly by the African Minerals Development Centre (AMDC) and the German Federal Institute for Geosciences and Natural Resources (BGR). Ghana invited the study following its recognition of the need for upstream domestic supply linkages,

The latest Nielsen Africa Prospects Indicator (APi) Report reveals interesting shifts in African manufacturer and retailer business priorities and a growing appreciation for the fact that no one size fits all and no total continent, country, city, consumer or channel approach is enough to ensure ongoing success in Sub-Saharan Africa (SSA). Nielsen Executive Director: Thought Leadership Global Markets Ailsa Wingfield reports; “In 2015, companies were primarily focused on the retail environment and growth could be achieved by making more, or new products available to consumers in the right stores. Three years on, and Route to Market/ Distribution is still the

By Modupe Gbadeyanka On Saturday afternoon, Vice President Yemi Osinbajo was involved in an air mishap, which caused a scare. A chopper carrying the nation’s number two citizen crash landed in Kogi State, but those on board the helicopter survived. After incident, Mr Osinbajo confirmed that he was fine and thanked everyone who expressed concern over the incident. “We are safe and sound! Thank you to everyone who has expressed concern and thank you to the crew who managed the situation well. “We believe that God will continue to keep us and Nigeria safe even as we go higher. We

By Modupe Gbadeyanka Trading on the Nigerian Stock Exchange (NSE) on Tuesday ended on a strong note with the All-Share Index (ASI) appreciating by 370 points or 1.33 percent. The NSE ASI, which opened at 27, 839.93 points on Tuesday, closed at 28,209.93 points. Also, the market capitalisation increased by N127 billion. The day’s trading closed at N9.69 trillion; rising from N9.56 trillion it recorded on Monday. Business Post learnt some major stocks recorded price gains, with Dangote Cement leading the top five gainers table with N6.79 per share, closing at N183. Also, Total Oil gained N6.5 to close at