Africa’s SDG goals at risk amid $4trn investment shortfall, AfDB president warns
Post AMUGE
April 30, 2024
Joy Agwunobi Akinwumi Adesina, President of the African Development Bank Group (AfDB), has underscored the pressing need for increased financing to support Africa’s Sustainable Development Goals (SDGs) in light of growing global economic pressures and the persistent effects of the Covid-19 pandemic. Citing the $4 trillion annual funding shortfall for the SDGs, up from $2.5 […]
ABCON plans unified retail FX market to hedge volatility
Post AMUGEApril 29, 2024
Business a.m. The Association of Bureaux De Change Operators of Nigeria (ABCON) is spearheading efforts to establish a unified retail foreign exchange market aimed at addressing volatility and enhancing regulatory compliance within the Bureaux De Change (BDC) sub-sector. Aminu Gwadabe, the ABCON president, disclosed that the association is actively pursuing a strategic plan to unify […]
Access Holdings gets rating upgrade to ‘outperform’ on bright prospect
Post AMUGEApril 29, 2024
+28% upgrade to ‘24f EPS, price target Phillip Isakpa in Stockport, UK Analysts at FBNQuest Capital say they have upgraded their 2024-2025 earning per share (EPS) forecast by an average of 28 percent, as well as raised the price target for Access Holdings plc following an update of their views on the operating and […]
Zenith Bank eyes fintech, diversification as shareholders approve HoldCo plans
Post AMUGEApril 29, 2024
Business a.m. Zenith Bank has its eyes set on a robust fintech strategy and diversification into other business areas following the unanimous approval given to its board by shareholders to pursue its plans to convert to a holding company (HoldCo) status. The approval was given at a court-ordered extraordinary general meeting (EGM) held virtually from […]
Nature-based solutions seen yielding $82bn annual revenue for Africa
Post AMUGEApril 28, 2024
ECA advocates comprehensive carbon tax To cover fossil fuels, marine, aviation transport At $120 per metric tonnes Onome Amuge The United Nations Economic Commission for Africa (ECA) has unveiled a game-changing proposal, advocating for a comprehensive carbon taxation regime that would span the continent, reaching far beyond traditional fossil fuels to encompass shipping and […]
Enough pain for bank stocks?
Businessam StaffApril 28, 2024
Markets do not like rights issues, as shareholders suspect dilution to the value of their shareholdings. Since the publication of the CBN’s circular on recapitalisation of banks, the NGX Exchange-listed bank sector index has corrected 23.4%. Has it corrected enough already? Without specific details on transactions it is difficult to know but, following a theory […]
AVCA rallies for investment uptick to unlock $2.3trn of domestic capital in Africa
Post AMUGEApril 25, 2024
Business a.m. The African Private Capital Association (AVCA) has issued a call to action, urging for heightened investment efforts to tap into the $2.3 trillion pool of untapped domestic capital in Africa. The association highlighted the imperative during the AVCA 20th Annual Conference & VC Summit held in Johannesburg, under the theme ’embracing change and […]
Nigeria’s inflation to ease in Q2 ’24, say analysts at Cowry Asset
Post AMUGEApril 23, 2024
ONOME AMUGE & JOY AGWUNOBI IN LAGOS, NIGERIA The first quarter of 2024 will be remembered as a turbulent period in Nigeria’s economic history, as the nation endured the wrath of inflationary turmoil. The headline inflation rate soared to 33.20 percent in March 2024, reaching its highest level since March 1996, a grim milestone that […]
Access Holdings chairman bullish about raising $300m new capital
Post AMUGEApril 23, 2024
Our shareholders have mind set on recapitalisation Has over 800,000 shareholders In 2024 Access Holdings is much older, wiser, stronger, larger Is significantly respected by the capital market PHILLIP ISAKPA IN STOCKPORT, UK Aigboje Aig-Imoukhuede, the newly elected chairman of Access Holdings Plc, who chaired his first meeting of shareholders over the weekend, is […]
NCDMB sees Nedogas $1m investment returns nurturing prosperity in oil sector
Post AMUGEApril 22, 2024
Business a.m. The Nigerian Content Development and Monitoring Board (NCDMB) recently announced a $1 million investment return from Nedogas Development Company Limited (NDCL), marking a promising return on one of the Board’s strategic investments. In a symbolic gesture, Emeka Ene, the NDCL chairman, journeyed to the Nigerian Content Tower in Yenagoa, Bayelsa State, to present […]