Diamond Bank News

Bob Diamond, Chairman, Atlas Mara

Bob Diamond is back on the offensive

It was classic Bob Diamond. Never one to pass up a deal, he emerged as a possible buyer of Barclays Africa when Barclays announced its exit from the continent last year.

Akeem Lawal, Divisional CEO, Switching & Processing, Interswitch. Credit: SlimTrader

Interswitch Nigeria Sees Delayed IPO Concluded by End-2019

Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019.

First Bank of Nigeria ATMs

How Nigeria's banks are innovating

Nigeria’s relatively significant exposure to the oil and gas sector increased pressures on balance sheets and operations.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Chauffeur driven: Uber in Lagos. Credit: FT

Uber gears up to ease stressful commutes in Nigeria

Car-hailing app Uber has frequently attracted controversy — whether over workers’ rights, management practices and its attitude to regulation.

Okechukwu Enelamah, Nigeria's Minister of Industry, Trade and Investment (L) and Natalie Kolbe, Partner & Co-Head of Private Equity at Actis

An Enabling Enterprise Environment And Accountability Are Key For Nigeria's Long Term Future: Okechukwu Enelamah, Nigeria's Minister Of Industry, Trade & Investment And ACA Co-Founder & Former CEO

Actis, a leading growth markets investor, hosted over 200 senior public and private sector decision makers in Lagos at Heritage Place in Ikoyi to share Actis’ perspectives on the Africa opportunity and potential for Nigeria.

Nigerian businesses target 100% mobile-first market

Nigerian businesses target '100% mobile-first market' (Infographics)

In Nigeria, success for both tech start-ups and more conventional businesses such as banks and fast food restaurants means adapting to the age of what entrepreneurs have dubbed the “100 per cent mobile-first market”.

Marlon Chigwende, Managing Director and Co-Head, Sub-Saharan Africa Buyout Advisory, Carlyle

Private equity giant Carlyle says it may make Sub-Saharan Africa deals early next year

Carlyle Group LP, the world’s second-largest manager of investment alternatives to stocks and bonds, said it may announce new purchases for its sub-Saharan Africa fund early next year as it forecasts the region will grow faster than all other areas except India and China.

Herbert Wigwe, CEO, Access Bank

Mobile telephony enables Nigerian banks to fine tune services

Uzoma Dozie can remember when really effective marketing by banks took a different form.

Smile Telecoms raises $365M from African investors to expand broadband coverage across the continent

Smile Telecoms raises $365M from African investors to expand broadband coverage across the continent

Smile Telecoms plans to grow its broadband network in Africa after raising $365 million in debt and equity financing.

Sudanese billionaire Mo Ibrahim has partnered with TPG to invest up to $1 billion in Africa.

Private equity power house TPG and billionaire Mo Ibrahim partner to invest up to $1 billion in Africa

TPG, one of the world’s largest private equity firms with $70 billion in assets under management, plans to invest up to $1 billion in Africa in a partnership with Sudanese billionaire, Mo Ibrahim.

There's plenty to go around. (Reuters/Tiksa Negeri)

Normally risk-averse US pension funds are starting to bet big on Africa

Private equity firms see Africa as the next big thing. But now US public pension funds are starting to look at the continent too.

US private equity firm KKR made its maiden investment in Africa in 2014, spending $200M on a stake in an Ethiopian flower farm.

African private equity deals hit seven-year high

The value of private equity deals in Africa reached their second-highest level on record in 2014 as population growth and an increasingly stable political climate helped drive international interest in the continent.

The Carlyle Group, the world’s second-largest manager of alternative investments, invested $147 million for an 18 percent stake in Nigeria's Diamond Bank.

South Africa losing buyout allure to fast-growing Sub-Saharan African rivals

South Africa is no longer the destination of choice for private equity investors seeking to tap returns on the continent.

Baker & McKenzie

Nigeria Deals Seen by Year-End as Equity Valuations Decline

Nigerian companies are turning into foreign acquisition targets as valuations slide with the price of oil, according to a law firm that advised on one of the country’s biggest Eurobond sales last year.

Igwe Nnaemeka Achebe is the Obi of Onitsha and former Chairman of Diamond Bank

Nigeria's Diamond Bank appoints Chris Ogbechie as Chairman to replace retired Nnaemeka Achebe

Nigeria’s Diamond Bank disclosed on Wednesday that Igwe Nnaemeka Achebe has retired as the Chairman of its Board of Directors. Achebe’s retirement was approved at a recent board meeting.

What’s Happening in Nigeria’s Economy? (Image credit: Bloomberg News)

What's happening in Nigeria's economy? The short answers

The Nigerian economy is being challenged by crashing oil prices despite the central bank’s best efforts to stem outflows.

Miller beer by SABMiler

M&A activity heats up in Africa as investors bet on growth

Concerns on the scale of the Ebola crisis, current levels of political unrest and plunging commodity prices would have sent investors rushing out of Africa not long ago.

Ziad Dalloul, CEO, Africell

Africell on mission to secure U.S. private equity investment

Africell Holding, the largest mobile-phone operator in Sierra Leone and Gambia, is courting U.S. private-equity firms including Providence Equity Partners, KKR, and Carlyle Group, hoping to sell a stake in the company, which is valued by the owner at up to $1.5 billion.

David Rubenstein, Co-Founder & Co-CEO of the Carlyle Group

Carlyle Group buys 18 percent stake in Diamond Bank for Nigerian expansion

Carlyle (CG) Group LP invested $147 million in Lagos-based Diamond Bank Plc (DIAMONDB) as it seeks to expand in Africa’s largest economy.

Miguel Azevedo, Head of Investment Banking, Citigroup Africa

Citi's Head of African Investment Banking Miguel Azevedo preaches Africa's growth story

Because Miguel Azevedo spends two weeks each month traveling on the African continent, Citigroup’s head of African investment banking must get special permission from his firm to fly to countries affected by the Ebola crisis.

Goodluck Jonathan, President of Nigeria

Nigeria's Power Industry Bailout Heads Off Threat to Lenders

Nigeria has headed off a threat to its banking industry by propping up struggling power companies with an intervention fund, said analysts including Pabina Yinkere of Vetiva Capital Management Ltd.

Konrad Reuss, MD, Sub-Saharan Africa, S&P

S&P to start rating more Nigerian and Kenyan companies: Konrad Reuss, MD, Sub-Saharan Africa, S&P

Standard & Poor’s expects to rate a number of Nigerian banks this year and is talking to some Kenyan banks and companies about future credit ratings, its managing director for sub-Saharan Africa said on Monday.

Citibank, Nigeria

Foreign investors shrug off Nigeria risks: Omar Hafeez, Head, Citigroup Nigeria

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.

Nigeria Sovereign Investment Authority (NSIA)

Nigeria's $1B Sovereign Wealth Fund Releases New Website

Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), recently released a revamped version of its website.