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Naira on Gaining Streaks in Parallel Market as Banks Raise Supply The Nigerian local currency, naira, continue gaining streaks in the parallel segment of the foreign exchange market on Monday,…
AfDB Extends $40m Grant to Development Bank Ghana The Board of Directors of the African Development Bank (AfDB) Group has approved a grant of $40 million from the African Development…
Equity Investors Milk Stock Market Top Performers Despite a lower close to the week, equity investors made fortune from UACN, NEIMETH, REDSTAREX and Airtel Africa recording share price appreciations. Other…
UBA Raised $300m Eurobond at 6.750% to Offset Debt United Bank for Africa (UBA) Plc successfully raised $300 million through its recently announced $1.5 billion global medium term note (GMTN)…
Jaiz Bank Gets Ratings Upgrade on Improved Capitalisation Jaiz Bank Plc gets ratings upgrade on Friday from the emerging market-focused rating firm, GCR which lifts the Islamic lender’s national scale…
Moody’s Affirms Ecobank B3 Rating, Upgrades Outlook to Stable Moody’s Investors Service has affirmed the B3 long-term issuer ratings and B3 senior unsecured bond rating of Ecobank Transnational Incorporated (ETI).…
Stock Market Tumbles as Investors Engage in Offensive Selling Nigerian stock market sees a large drop on Friday as equity investors continue to pull profits after initial telecom price appreciation…
Strong Demand, Healthy Liquidity Drag Yield on T-Bills Lower Relatively strong demand for Nigerian Treasury bills drags yield lower this week as investors pump funds into the secondary market after…
Naira Mixed as Currency Speculators Feel CBN FX Intervention Naira trade mixed this week, though closed lowered in the Investors and Exporters foreign exchange window but there was a show…
MultiChoice Profit Drops, Says Nigeria Subs. Gets FX at Parallel Market Rate MultiChoice posted a 38% drop in interim profit as earnings per share fell to 356 South Africa cents…
Low Upside for Cocoa Prices as Ivory Coast, Ghana Outputs Rise There will be a limited upside for prices of cocoa in 2021/2022 as leading Africa’s producers Ivory Coast and…
Meristem Real Estate Advantage Portfolio: A Hedge Against Weak Naira Nigerians are naturally exposed to fluctuation in their naira assets now. With rising inflation and weak local currency, many have…
Equity Market Pulls Back as Investors Sustain Selling Rallies Nigerian equity market pulls back by more than N51 billion on Thursday as investors’ book additional profit, with selloff hitting the…
Cryptoassets Valuation Near $3trn as Doge Goes to Moon The global crypto market cap nears $3 trillion despite a moderate slowdown amidst heavy trading activities while doge is set to…
Yield Shrinks After Spot Rate on 364-Day Treasury Bills Falls The average yield on Nigerian Treasury bills shrinks in the secondary market on Thursday after a 49 basis points drop…
Nestlé Empowers Rural Women in South West Nigeria An additional 50 women are to benefit from the second phase of the Nestlé Nigeria project – Empowering Rural Women in Nigeria,…
Helium Health Acquires GCC-Based Doctor Book Platform Meddy Helium Health, the leading healthcare technology provider in Africa, has announced the acquisition of Meddy Inc., the GCC- based doctor booking platform,…
Dangote Restates Commitment to Bridge Unemployment Gap Dangote Industries Limited has restated its commitment to contributing to a significant reduction in the number of unemployed Nigerians even as the Lagos…
U.S 30-Year Auction High Yield Declines, Demand Lower The U.S Treasury’s 30-year auction hit a high yield of 1.94% Wednesday, down from the 2.049% high in the previous auction. The…
BUA Chairman Seeks 3-Way Partnership to Fast-track Africa’s Growth Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group has called for a three-way partnership among the African private sector,…
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