FBN Capital News

Omobola Johnson, Senior Partner, TLcom and Nigeria's former Minister of Communication Technology. Credit: ITU

VC firm TLcom rakes in $40 million for new Africa fund

London and Nairobi-based venture firm TLcom Capital has raised $40 million for its new Africa fund. The target is $100 million. TIDE Africa Fund will focus on tech startups in Sub-Saharan Africa.

Founder of InaTidé and Head of Energy and Natural Resources at FBN Capital. Credit: rolake.iprofile360.com

Nigerian entrepreneur aims to plug energy project funding gaps with new startup

One characteristic the Mint economies share is that they have younger populations than their more economically developed counterparts around the world.

Nigeria state oil group NNPC taps private sector for top ranks

Nigeria state oil group NNPC taps private sector for top ranks

The new head of Nigeria’s state oil company has tapped the private sector as part of an overhaul of senior ranks intended to clean up the entity at the heart of the country’s economy.

Sub-Saharan Africa’s national oil companies have big ambitions but funding remains a challenge.

Sub-Saharan Africa's national oil companies have big ambitions. Funding remains a challenge: Rolake Akinkugbe, Head of Energy and Natural Resources, FBN Capital

In March, Saudi Aramco concluded a $10 billion standby revolving credit facility deal with 27 international lenders, the largest of its kind in the Gulf region for years. Even revenue-rich Saudi’s NOC needs large pools of capital from abroad.

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.

Africa Market Data

Bargain Hunters Pounce as Nigeria Stocks Rise for Eighth Day

Nigeria’s stocks rose in the longest winning streak since July 2013 as investors bought shares they deemed oversold following declines spurred by concern lower oil prices and elections will hurt the economy.

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.

Lafarge

Lafarge to Merge Nigerian and South African Units in $1.35B Deal to Rival Dangote Cement

Lafarge SA, the French cement maker, will combine Nigerian and South African assets to form a new company, Lafarge Africa, to compete with Africa market leader Dangote Cement Plc.