FX market to remain stable in the aftermath of foreign investors’ exit
Afolabi Oluwaseun
August 6, 2018
The Nigerian foreign exchange market is projected to remain stable if foreign investors finally exit the market as has been projected on rising rates in the advanced economies, especially in the United States. Currency market analysts, who spoke to business a.m. said the foreign exchange market would be unshaken, particularly in the short to medium […]
Analysts call rate retention ahead of MPC meeting on risk of capital flow reversals
Adesola AfolabiJuly 23, 2018
Economic analysts policy rates to stay unchanged on sustained risk of capital flow reversals. In two pre-MPC notes seen by business a.m., analysts at Access Bank and Afrinvest research believe the Central Bank of Nigeria would leave key rates unchanged when its monetary policy committee meets this week. The MPC of the Central Bank of […]
Avoid ponzi schemes, SEC warns Nigerians
Adesola AfolabiJuly 18, 2018
Nigerians have again been warned to desist from investing their money in investments that offer unreasonable levels of returns at little risk to investors. Mary Uduk, acting DG Securities and Exchange Commission (SEC), gave the warning Wednesday during a town hall meeting on current initiatives by the SEC Nigeria to enhance investor value held in […]
Afreximbank, Aenergy partner to develop climate finance strategy in Africa
Adesola AfolabiJuly 16, 2018
The African Export-Import Bank (Afreximbank) has entered into partnership with Aenergy, a Hong Kong-based independent power and renewable electricity producers to develop sustainable low carbon and climate finance strategy to support projects and national initiatives across Africa. The cooperation signed on the sidelines of the Afreximbank annual meetings and 25th anniversary celebrations on Saturday, will […]
Singapore-based robo-advisor, Bambu, secures $3m ‘Series A’ funding to accelerate expansion
Businessam StaffJuly 12, 2018
Bambu, a Singapore-based B2B robo-advisory solutions provider, has raised a $3-million Series A financing led by existing investor Franklin Templeton Investments, the company announced Wednesday, July 11. Singapore’s family office Octava, which focuses on real estate, financial technology and lifestyle investments, and Japanese fintech investor Mamoru Taniya also joined the round. The year 2018 has […]
Africa Investment Forum will help de-risk investment and catalyze private sector
Adesola AfolabiJuly 11, 2018
The African Development Bank is working with leading global development finance institutions to set up a mutualized co-guarantee platform to de-risk investments and facilitate projects that have the capacity of transforming the continent under the Africa Investment Forum (AIF). Over the last decade, and despite impressive growth rates in most of the continent, Africa’s infrastructure […]
FDI inflows fall 80.38% in a decade to $981m in 2017 on prolonged security concerns, infrastructure deficit
Steve OmanufemeApril 15, 2018
The quantum of foreign direct investment (FDI) in the country has slowed 80.38 percent in a decade due to poor investment climate, prolonged security concerns, and growing infrastructure deficit, according to analysts at Financial Derivative Company (FDC). They indicated that in recentness years, Nigeria’s FDI has been struggling, reaching a mediocre $981 million in 2017, […]
Krispy Kreme investing $7m in Nigeria outlets
Ajose SehindemiMarch 12, 2018
Krispy Kreme Doughnut Corporation, an American brand is investing $7 million in a network of outlets as it begins a journey into the Nigerian food and beverage market. The company’s executives said they would be offering 16 different varieties if doughnuts, as well as Nigerian blended coffee. The expansion into the Nigerian market is expected […]
Total Nigeria reports 46% decline in PAT, declares N5bn dividend payout
Businessam StaffFebruary 26, 2018
Total Nigeria Plc. has reported a massive decline of 46 percent in its pro t after tax for the year ended 31 December 2017 to ₦8 billion, from ₦11.7 billion in 2016. The world’s fourth-largest oil and gas company in its annual report for 2017 said that the revenue generated as at December 2017 stood […]
Nigeria central bank amends agric credit scheme guidelines to include non-interest financial institutions
Businessam StaffFebruary 22, 2018
The Central bank of Nigeria (CBN) has announced amendments to guidelines on its commercial agriculture credit scheme (CACS) to include the participation of non-interest financial institutions. The regulator in a circular to all banks and financial institutions dated February 16, 2018, said the revised guidelines are part of efforts to deepen access to finance and […]