Investment

Showing: 81 - 90 of 106 Articles
Capital market Investment Oil and Gas

BUA seals $500m loan deal with IFC

Lagos, June 6, 2023 – BUA Cement has signed a $500m loan to finance ongoing expansion of its integrated cement plants in Kalambaina, Sokoto State, Nigeria. The International Finance Corporation (IFC) is the lead manager of the loan deal. BUA’s regulatory notice to the Nigerian Exchange Limited (NGX) said the loan was secured through the IFC as lead arranger alongside other lenders like the African Development Bank (AfDB) and Africa Finance Corporation (AFC), among others. A statement by the company Secretary, Satomi Hauwa, said: “This announcement is further to our …

Investment Trade

LCCI calls for improved trade between Nigeria, Poland

Lagos, June 2, 2023 – The Lagos Chamber of Commerce and Industry (LCCI) has called for improved trade volume between Nigeria and Poland which currently stands at $800 million annually The volume of trade between Nigeria and Poland currently stands at about $800 million annually. Dr. Michael Oluwale Cole, the President of LCCI, made the call while signing a Memorandum of Understanding (MoU) with his Polish counterpart at a Polish Business Forum in Lagos. He said the MoU was to rekindle the moribund business relationship between the two countries which started …

Foreign Investment Trade

2023 Intra-African Trade Fair to gulp $43bn – Afreximbank

Cairo, May 2, 2023 – More than $43 billion is being committed to hosting the 2023 Inter-African Trade Fair in Cairo, Egypt. The African Export-Import Bank (Afreximbank) said in a statement that the fair would host more than 1,600 exhibitors and more than 35,000 visitors, buyers and conference delegates from all 55 African countries, the Diaspora and the rest of the world.   Cairo, the Egyptian capital, has been selected to host the trade fair holding from Nov. 9 to Nov.15, 2023. The IATF2023 Advisory Council said the decision to change …

Investment Lifestyle Manufacturing/Industry Street Fashion

Ecobank sets to host second edition of “Adire Lagos Experience”

Lagos, May 30, 2023 – All is now set for the second edition of Adire Lagos Experience being hosted annually by Ecobank Nigeria. The bank said it was impressed and motivated by the phenomenal success of the maiden edition held last year. The three-day exhibition with the theme “Adire Lagos Experience”, will take place at the ultra-modern Ecobank Pan African Centre (EPAC) complex on the highbrow, Victoria Island, Lagos from Friday, June 9 till Sunday, June 11, 2023, from 1200 noon daily. Announcing the second edition in Lagos, Korede Demola-Adeniyi, Head, Consumer Banking …

General News Investment

China opens talks with Niger State on illegal mining activities of Chinese

Minna, May 25, 2023 -The Chinese Government has opened talks with the Niger State Government on the arrest of some Chinese perpetrating illegal mining activities in the state. A delegation of the Chinese Government, led by the Chinese Ambassador to Nigeria, H.E. CUI Jianchun, met with the Niger State government on Thursday at a closed-door meeting. At the end of the meeting, the State Governor-elect, Mohammed Bago, spoke on the outcome of the meeting with some journalists. He said that the Chinese delegation was in the state to discuss ways …

ICT Investment

Airtel pays N58.7bn to renew spectrum licence

Lagos, May, 10, 2023 – Airtel Networks Limited (Airtel Nigeria) has paid N58.7 billion to the Nigerian Communications Commission (NCC) to renew its 2×10 MHz 2100 MHz spectrum license. Airtel Africa, in a statement to the Nigerian Exchange Limited (NGX), signed by Company Secretary Simon O’Hara, said that once renewed, the license would be valid for 15 years after the expiration of the previous licence on 31 April 2022. “This investment to renew the license reflects our continued confidence in the opportunity inherent across the Nigerian market, supporting the local …

Business Planning Investment

Ecobank partners LCCI in promoting export businesses

Lagos, April 2, 2023 – Ecobank Nigeria in collaboration with Lagos Chamber of Commerce and Industry (LCCI) has organised a seminar to provide insights into the various financing options available to exporters. The seminar also avail exporters of the regulatory frameworks as well as the role of public and private sector institutions in promoting exports businesses. Speaking at the ceremony, Dr Oladele Cole, the President of LCCI, said breaking barriers to export finance was critical to stakeholders in the export and import business. He said the seminar was to expose …

Business Planning Investment Money market

Avoid investment offers with quick, high returns – NDIC boss

Enugu, March 30, 2023 – Mr Bello Hassan, the Managing Director of the NDIC, has advised Nigerians to avoid investment offers with quick and arbitrarily high returns. Hassan, gave the advice in Enugu on Thursday while speaking at the NDIC Day at the Enugu International Trade Fair. He said that the safest, smartest and most prudent place to deposit money is in the formal banking system because of the protection of such deposits by the NDIC. “Such deposits also enjoy the benefit of effective regulation and supervision of relevant authorities, …

General News Investment

NAFDAC advises water producers to maintain good manufacturing practices

Lagos, March 29, 2023 – NAFDAC has advised packaged and sachet water producers in Nigeria to always adopt good manufacturing practices to safeguard the wellbeing of consumers. Prof Mojisola Adeyeye, the Director General of NAFDAC, gave the advice at the 2023 World Water Day commemoration in Lagos on Wednesday. Adeyeye, who was represented by Mrs. Abayomi Juliana, the Director (Food Registration and Regulatory Affairs) in NAFDAC, said that poor quality water would kill faster than what could be imagined when consumed by unsuspecting consumers. Adeyeye said that this year’s World …

Foreign Investment

Afreximbank collaborates with Islamic Trade Finance Corp on trade finance

Cairo, March 22 2023 – African Export-Import Bank (Afreximbank) is to collaborate with International Islamic Trade Finance Corporation (ITFC) in a risk participation facility designed to enhance Afreximbank’s ability to support trade finance in Africa. Under the arrangement, Afreximbank will act as a confirming bank or trade confirmation guarantor on behalf of the approved financial institutions in Africa and provide these services in favour of beneficiary or international banks. ITFC will act as the issuer of irrevocable reimbursement undertakings to cover up to 50 per cent of Afreximbank’s risk exposure on …