Exotix Partners News

GT Bank, Nigeria's biggest bank by market value, has raised the maximum monthly dollar spend limit to $1,000 from

Nigeria Banks Boosting Dollar Spending as Liquidity Improves

Nigerian banks are boosting dollar-spending limits for payment cards denominated in local currency as much as tenfold because of improved foreign-exchange supply.

Godwin Emefiele, Governor, Central Bank of Nigeria

Investors cheer Nigeria currency shift, want more

Nigeria’s recent tentative steps to free up its naira currency, particularly via a new trading window, have gone down well with some adventurous stock and bond investors who are cautiously returning to the markets they fled two years ago.

EFG Hermes eyes acquisition in Nigeria, Kenya brokerage licence

EFG Hermes eyes acquisition in Nigeria, Kenya brokerage license

Egypt’s EFG Hermes wants to enter Nigeria through an acquisition and expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets, a senior executive told Reuters last week.

PesaLink - Kenyan banks have joined forces to launch a mobile money rival to M-PESA

Kenyan banks have joined forces to launch a mobile money rival to M-PESA

Nearly ten years after its launch, M-Pesa finally has what could be a major competitor in the multi-billion dollar mobile money transactions business.

South Africa Leapfrogs Nigeria: Back to No. 1 spot in Africa on currency fluctuations. Credit: Bloomberg/IMF

South Africa's economy regains rank as Africa's biggest on rand appreciation (Infographic)

South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN)

Nigerian central bank offers some relief to country's banking sector

The Nigerian banking sector finally has some breathing space after the country’s central bank lowered capital reserve requirements (CRR) for banks from 31% to 25%. 

Chibuike Rotimi Amaechi (L), former Governor of Rivers State; Muhammadu Buhari (C), President of Nigeria; & Babatunde Fashola (R), former Governor of Lagos State

Nigeria's Buhari nominates Fashola, Amaechi as ministers

Nigerian President Muhammadu Buhari nominated four former state governors and the current head of the national oil company as ministers in his administration, according to a list presented to lawmakers in the capital, Abuja.

Ethiopia Commodity Exchange (ECX)

Ethiopia Commodity Exchange (ECX) considers adding stock & bond trading

The Ethiopia Commodity Exchange plans to broaden the range of crops it trades and wants to introduce stocks and bonds under a five-year expansion plan, Chief Executive Officer Ermias Eshetu said.

Nigeria's President-Elect Muhammadu Buhari. Photographer: Stringer/AFP/Getty Images

Buhari pursues cabinet to boost Nigeria's economy and battle Boko Haram

Muhammadu Buhari’s election victory over an incumbent president was unprecedented in Nigerian history.

Bond Market

Low debt, light payments add luster to Nigeria's dollar bonds

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.

JP Morgan Chase & Co

JPMorgan Says Kenya May Be Part of Future Africa Expansion

JPMorgan Chase & Co. (JPM:US), which has more than 150 staff in South Africa, said it’s interested in establishing an office in Kenya “in time” as part of plans to expand on the continent.

Central Bank of Nigeria (CBN), Abuja

Nigeria's Too Big to Fail Bank Rules Spur Bond Sale Rush

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.