Just eight weeks after raising $24 million in a funding round led by Mark Zuckerberg’s foundation, Andela, one of Nigeria’s best-known startups, is saying goodbye to its co-founder Iyinoluwa ‘E’ Aboyeji.
African private equity firms cashed in on investments last year at the highest rate in almost a decade, with South Africa, Egypt, Nigeria and Kenya accounting for two-thirds of these exits.
Uzoma Dozie can remember when really effective marketing by banks took a different form.
Nigeria’s Access Bank opens representative office in Dubai International Financial Centre (DIFC). This is Access Bank’s first office in the Middle East.
The government of the state of Lagos–Nigeria’s commercial capital–has proudly proclaimed it is building a new city that will become the new financial centre of Nigeria, and perhaps West Africa.
Nigeria’s dollar bonds have been battered by tumbling oil prices and domestic politics, but thanks to low debt ratios, a light repayment schedule and demand from local banks they should weather the storm.
Companies in Kenya, whose government raised $2.75 billion in debut Eurobond sales this year, may follow peers in South Africa and Nigeria with bond offerings in 2015, according to JPMorgan Chase & Co.
Stanbic IBTC is Nigeria’s best-performing bank stock. Its share price has climbed 40.5% this year and 55.4% over the past twelve months. Is it nearing the end of its run? Or is the market offering investors a discount to the bank’s real worth?
The Nigerian Stock Exchange (NSE) held its annual general meeting on September 25th, 2014, reporting a 183% jump in operating surplus to N3.26B.
Nigerian lenders are gearing up to sell the most debt in four years to bolster cash reserves, taking advantage of a drop in borrowing costs before the central bank increases how much capital they need to hold.
Worsening security in Nigeria has not deterred foreign investors from buying its assets, Citigroup’s country head said on Wednesday, citing $1.1 billion worth of Eurobonds it had traded for three local lenders so far this year.