Fidelity Bank Lures Investors With 7.5% for N75bn 10-Year Bond

By Adedapo Adesanya  Africa Finance Corporation (AFC) has secured a $300 million loan from the Export-Import Bank of China (CEXIM) to drive increased trade finance and investment across the African continent, fostering economic growth and development. The infrastructure solutions provider on the continent announced the successful signing of the landmark agreement on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual meetings in Egypt. The 3-year credit facility is a significant development in AFC’s long-standing relationship with CEXIM. The two institutions have collaborated since 2018, with AFC receiving $400 million in bilateral loans from CEXIM to date. According to

By Adedapo Adesanya Foreign trading and investment firm, Risevest, has acquired Chaka, a digital trading platform. According to Techcabal, which first broke the news, the deal, which was for an undisclosed sum, will see both entities operate as different products, though the capitalisation table of the acquiree will be updated in due course. Speaking on this, Mr Tosin Osinbodu, Chaka’s founder, said, “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team.” “With booming growth in many nations around the world, investors can now own a stake in the growth of other

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

By Ahmed Rahma Over 100 farm landowners in Kumbotso local government area of Kano State will share the sum of N42.5 million for forfeiting their lands to the federal government for the proposed 10kw Solar Project. Already, the money has been released for disbursement to the beneficiaries by the Kano State government. According to the Managing Director of Kano State Investment and Properties Company Ltd, Dr Jibrilla Muhammad, the compensation was to assist the farmers to get the reward for their sacrifices. Speaking at the commencement of the payment at the palace of the District Head of Kumbotso, Mr Ahmad

By Adedapo Adesanya The Lagos State Government has announced additional life and health insurance for all frontline health workers in the state. This is coming due to the danger they face in the ongoing battle against coronavirus. The government added that there has been an increment in the hazard allowance of frontline emergency workers. The Governor of Lagos State, Mr Babajide Sanwo-Olu, announced this on Friday, May 1 when he met with leaders of organised labour unions in Lagos to commemorate the 2020 Workers’ Day. “I should also mention that we have put in place additional health and life insurance

By Modupe Gbadeyanka Mr Richard Ododo has been chosen to be the next Managing Director/Chief Executive Officer of Standard Alliance Insurance Plc. This followed the resignation of the former occupier of the same position, Mr Bode Akinboye, after meritoriously serving the company for four years. “The board of Standard Alliance Insurance Plc is pleased to inform the Nigerian Stock Exchange (NSE), its shareholders, the investing public and other stakeholders of the appointment of a new Managing Director/Chief Executive Officer, Mr Richard Ododo following the resignation of the former Managing Director/CEO, Mr Bode Akinboye, after meritoriously serving the company for four

The forthcoming Future Energy Nigeria conference and exhibition taking place in Lagos next month has been endorsed by the Federal Ministry of Power. The event, in its 16th edition, will take place at the Eko Hotel in Lagos from November 12 to 13, 2019. The upcoming Lagos event will present solutions for the power sector and connect power and energy professionals working together to advance a sustainable energy economy. “Receiving the Federal Ministry of Power’s official endorsement and confidence is extremely valuable, not to mention motivating,” says Future Energy Nigeria’s business development director Ade Yesufu, “and we are proud to

By Dipo Olowookere The 2017 edition of the Africa Energy Forum (AEF) has been slated to hold in June at Bella Center, Copenhagen in Denmark. The event will take place from June 7 to 9, 2017 with about 2,000 decision-makers in the Africa’s energy sector are expected to attend. AEF is the annual meeting point for Africa’s energy sector for decision-makers to explore investment opportunities, form partnerships and sign deals. Already, the Democratic Republic of Congo (DRC), Botswana, Burkina Faso, Ethiopia, Gabon, Madagascar, Morocco, Rwanda and Zimbabwe have confirmed to attend the event. Minister of Energy and Hydraulic Resources in

By Nneka Okumazie It is possible to not want to be a Christian. It is possible to disagree with the way of life of genuine Christians, but it is skewed to think that misjudgment of the Christian faith, for whatever reason invalidates the faith, for all. Christianity is a choice. Everything about the genuine Christian faith is acceptance – first, with completion in spirit and in truth. Many use physical experience and logic to judge the Lord. But God is a spirit. There are lots of atheists, agnostics and irreligious people who ask questions about the scriptures they believe have

By Kestér Kenn Klomegâh Building on post-Soviet relations with Africa, Russia has been struggling with strategies on how to establish economic footprints, promote investment and deepen cooperation in Africa. Despite the road map adopted at the end of the first Russia-Africa summit held in October 2019, little has been achieved since then. In late September, the Regional Chamber of Commerce and Industry welcomed the participants to another round of conferences under the theme “Russia-Africa: Prospects for Cooperation” held in St. Petersburg. That gathering featuring a few interesting Russian enterprises was part of a series of steps to brainstorm and discuss

By Adedapo Adesanya The NASD Over the Counter (OTC) Securities Exchange continued to point north as major parameters recorded gains at the last trading day of the week on Friday, October 11, 2019. Market capitalisation rose again on Friday by 1.95 percent or N9.79 billion to cap at N512.37 billion against N502.58 billion recorded in the previous session on Thursday. This also extended to the NASD Security Index (NSI), which gained 13.63 points or 1.95 percent to close at 713.17 points compared with 699.54 points recorded on Thursday. Also adding to the good outlook of the market’s performance yesterday was