By Eyo Nsima The October 2021 economic data have indicated improvements in business conditions in Nigeria’s private sector with output, new orders and buying activity hitting the roofs. In its latest report, the Stanbic IBTC Bank Plc, stated that the headline Purchasing Managers’ Index, PMI, improved to 54.1 in October from 52.3 in September, indicating
PMI reaches 3-month high in October —Stanbic IBTC Read More »
By Eyo Nsima The Nigerian Investment Promotion Commission (NIPC) has tracked $8.99 billion investment announcements in the third quarter of 2021, with Lagos State, accounting for $7.29 billion or 81 percent of the total announcements during the period. According to NIPC, the investment announcements in Q3’21 was 130 percent higher than the $3.95 billion recorded
Investment announcements rise by 130% to $8.99bn in Q3 ’21 Read More »
Bank of Kigali and KCB Bank Rwanda to provide new credit lines for Rwandan companies as part of EIB’s (www.EIB.org) financing; First regional financing under EIB East Africa COVID-19 Rapid Response Facility; Minimum of 30% of financing to target female economic empowerment; Government of Rwanda and EIB conclude the last milestone for the financing of
By Eyo Nsima FBN Holdings Plc, the holding company of First Bank of Nigeria, has announced the appointment of Nnamdi Okonkwo as its new group managing director, GMD. According to Seyi Kosoko, the company secretary, who made the information public, Okonkwo is the former managing director/ chief executive officer (CEO) of Fidelity Bank of Nigeria
FIRST BANK: Nnamdi Okonkwo becomes GMD as U.K. Eke steps aside Read More »
By Eyo Nsima Heifer international has concluded plans to empower 10 million households toward closing their income gaps. Speaking at the NES#27, Rufus Idris, Country Director for Heifer Nigeria, who spoke on, “Youth and Technology: The Future of Nigeria’s Agriculture” at the NES#27, said: “Heifer International is a global development organization on a mission to
Agriculture: Heifer to close income gap of 10 million households Read More »
By Eyo Nsima The share price of FBN Holdings Plc dropped marginally Tuesday as many shareholders decided to sale in order to make brisk business following the emergence of Femi Otedola as the majority shareholder. Consequently, the share price fell by 1.20 percent to N12.40 per share from N12.55 the previous day, while volume traded
BREAKING: First Bank shares drop as Shareholders offload shares Read More »
By Eyo Nsima The Central Bank of Nigeria (CBN) has emerged with a new policy to support 100 targeted private sector companies in the next 100 days. Godwin Emefiele, CBN governor, disclosed this on Monday in Abuja during the launching of the eNaira project. Specifically, he said: “The 100 for 100 PPP – Policy on
CBN emerges with new policy to support 100 companies every 100 days Read More »
By Eyo Nsima Africa’s leading financial institution, United Bank for Africa (UBA) Plc, has announced its audited half year financial results for the half year ended June 30, 2021, showing impressive growth across all major income lines and performance indicators. The pan African financial institution delivered a 33.4 per cent appreciation in its profit before
H1’21: UBA Records 33% YoY Profit Growth, Declares 20k Per Share Interim Dividend Read More »
The research, which includes a feasibility study, women-focused design and testing, will focus on both agents and customers to provide insights into women’s use of mobile money services African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a
The event took place over three days to accommodate participants in different time zones, and included a special session on business opportunities in Angola at the request of the Bank’s Angola country office The African Development Bank held its second virtual business opportunities (BOS) for 2021 from 12-14 October, to provide an overview of its