Nigerian Stock Exchange (NSE) News

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.

Jim Ovia, Founder, Zenith Bank. Credit: guardian.ng

Nigerian Banker Jim Ovia Gains $84 Million In One Year As Zenith Bank Shares Soar

Nigerian banker Jim Ovia has made at least $84.5 million in paper gains over the last one year as shares of Zenith Bank, a Nigerian-Stock Exchange-listed commercial bank in which he holds a minority stake, surged 59.32%.

Chukwuemeka Odumegwu Ojukwu, Leader of Biafra (1967 - 1970) and son of Nigeria's first billionaire, is perhaps Nnewi's most famous indigene.

What town has produced more billionaires than any town in Nigeria and possibly Africa? Here are 10 of its richest people

The small Nigerian town of Nnewi has more naira billionaires per capita than anywhere else in the country.

Aliko Dangote, CEO, Dangote Group

Africa's Richest Man Invests $4.6 Billion in Nigeria Farming

Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange on course to list its own shares

A bill that has passed a second reading by Nigeria’s parliament could pave the way for the Nigerian Stock Exchange to issue its own shares

Aliko Dangote, CEO, Dangote Group

Africa's richest man promises to list refinery on Nigerian Stock Exchange

Aliko Dangote, the founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange.

Aigboje Aig-Imoukhuede,Nigeria, President of the Nigerian Stock Exchange (NSE) Council

The Nigerian Stock Exchange gets green light for public listing

The Nigerian Stock Exchange (NSE) has been given a green light by its members to become a publicly listed company, it said on Thursday.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange to seek approval for public listing

The Nigerian Stock Exchange plans to seek approval from its members on March 30 to proceed with the process of becoming a publicly listed company.

Nigeria says telcos must list on stock exchange

Nigeria says telcos must list on stock exchange

The Nigerian government says telecommunication companies operating in Nigeria must quickly conclude plans to get listed on the Nigerian Stock Exchange (NSE) or face regulatory penalties from their compliance failures.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange working with MTN on 2017 listing

The Nigerian Stock Exchange (NSE) is working with South African cell operator MTN on a listing of its shares in the country this year, the head of the bourse said on Thursday.

MTN Nigeria

MTN Nigeria begins IPO discussions

MTN has commenced talks with the Nigerian Securities and Exchange Commission (SEC) regarding an initial public offering in 2017.

NNPC Towers, Abuja, Nigeria. Credit: iloveabuja.com.ng

Nigeria proposes broad oil sector overhaul and potential NNPC stock exchange listing

Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernize and streamline the industry.

Nigeria's largest airline Arik air to double fleet by buying mostly Boeing planes

Nigeria's largest airline Arik Air to double fleet by buying mostly Boeing planes

Nigeria’s largest airline Arik Air plans to nearly double its fleet to 52 planes within 10 years and has already ordered some of them from Boeing, a source at the company said on Monday.

Nigeria's largest airline Arik plans $1B share offer & possible London Stock Exchange listing

Nigeria's largest airline Arik plans $1B share offer & possible London Stock Exchange listing

Nigeria‘s largest airline Arik Air plans to raise as much as $1bn through a private share placement next year and then a possible initial public offering (IPO) in Lagos and London, its managing director said.

7 Reasons to Be Bullish on MTN Group

MTN Nigeria said to target $1 billion in Nigerian Stock Exchange IPO

MTN Group Ltd., Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about $1 billion in an initial public offering.

MTN to list on the Nigerian Stock Exchange in 2017

MTN to list on the Nigerian Stock Exchange in 2017

MTN Group Ltd. appointed units of Citigroup Inc. and Standard Bank Group Ltd. as advisers on a planned listing of the wireless company’s Nigeria business on the country’s local stock exchange, part of a deal struck with the West African nation’s government to settle a record fine.

MTN's latest turnaround strategy involves poaching top executives from its arch rival

MTN's latest turnaround strategy involves poaching top executives from its arch rival

Africa’s largest telecom is appointing a new CEO, and shaking up its board and top executives.

Phuthuma Nhleko, Executive Chairman, MTN

MTN settles Nigeria fine & looks at listing on the Nigerian Stock Exchange

MTN Group has agreed to pay a reduced fine of 330 billion naira ($1.7 billion) in a settlement with the Nigerian government of a long-running dispute over unregistered SIM cards, sending shares in the South African telecoms group soaring.

Edoh Kossi Amenounve, CEO, Bourse Régionale des Valeurs Mobilières (BRVM)

West African stock markets are planning to join forces (Video)

Stock exchanges in Nigeria, Ghana, Sierra Leone, Cape Verde, as well as the BRVM are in talks to develop a common platform for cross-border listing and trading in West Africa, to create broader and deeper liquidity across the region.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange CEO Oscar Onyema appointed to second five-year term

The Nigerian Stock Exchange (NSE) has approved the appointment of Oscar Onyema to a second five-year term as Chief Executive Officer of the Exchange effective immediately.

Oscar Onyema, CEO, Nigerian Stock Exchange. Credit: naija247news.com

Nigerian Stock Exchange to expand range to lure investors, says CEO Oscar Onyema

The Nigerian Stock Exchange, Africa’s second-largest, is looking to attract investors spooked by a weakened currency and oil price by offering more products ahead of a possible listing.

Nigerian Stock Exchange acquires NASDAQ's SMARTS Market Surveillance technology

Nigerian Stock Exchange acquires NASDAQ's SMARTS Market Surveillance technology

The Nigerian Stock Exchange (NSE) and NASDAQ have announced that the NSE, which services Africa’s largest economy, will acquire NASDAQ’s SMARTS Market Surveillance platform to power the exchange’s compliance program.

Chris Low, Group Managing Director, Letshego Holdings

Botswana's Letshego buys FBN Microfinance Bank in Nigeria expansion move

Gabarone-based Letshego Holdings Limited the financial inclusion focused group with consumer, micro lending and deposit-taking subsidiaries across Southern and East Africa, says it has acquired a 100% shareholding in FBN Microfinance Bank (FBN MFB) from its parent, FBN Holdings plc.

Aliko Dangote, pictured with his daughter, Halima, at the TIME 100 Gala in New York. Credit: dailymail.co.uk

Aliko Dangote: 5 Things You Can Learn From Africa's Richest Man

A look into one of the wealthiest men on the planet, and what we can learn from his story.

Africa Exchange Guide 2015 - African Alliance

Africa Exchange Guide 2015: African Alliance Capital Markets (Presentation)

Here is general information on exchanges across Africa, including: currencies, time zones, trading hours, open days, market operation, settlement, trading lot sizes, public holidays, monetary policy, taxation & indices. The guide was compiled by African Alliance.

Diageo to increase equity stake In Guinness Nigeria to 70%

Diageo to increase equity stake In Guinness Nigeria to 70%

Diageo Plc. said that it has approached the Board of Directors of Guinness Nigeria plc with an intention to make an offer to increase its equity stake in Guinness Nigeria from 54.3% up to a maximum of 70% and to maintain Guinness Nigeria’s listing on the Nigerian Stock Exchange.

Tonye Cole, Co-Founder & Group Executive Director, Sahara Group

Nigeria's Sahara to raise up to $1.4B in London & Lagos IPOs along with debut dollar bond sale

Sahara Group, a Nigerian energy company, plans to raise as much as $1.4 billion through a dual listing of its oil and gas unit in London and Lagos along with a debut dollar bond sale.

Nigerian Stock Exchange launches Premium Board

Nigerian Stock Exchange launches Premium Board

The Nigerian Stock Exchange (NSE) announced last week Tuesday the launch of a new equity listing platform, the Premium Board, and the associated Premium Board Index.

Market Vectors Africa Index ETF (AFK)

Invest In Africa's Growth Through The Market Vectors Africa Index ETF

The Market Vectors Africa Index ETF is the simplest and most efficient solution for investors to gain exposure to Africa’s economic growth. The fund has experienced a sharp drop in price since 2014, which is not at all correlated to the financial earnings of the fund’s major holdings.

Cross listing of ETFs on Johannesburg, Lagos and Nairobi stock exchanges coming soon

Cross listing of ETFs on Johannesburg, Lagos and Nairobi stock exchanges: Coming soon

Discussions are currently underway between market participants in Nigeria, Kenya and South Africa to launch the cross listing of Exchange Traded Funds (ETFs).

Nigerian Stock Market

Nigeria contemplates mandatory stock exchange listing legislation for telcos and energy companies

Nigerian government officials are once again contemplating legislation that would require certain private companies to list on the Nigerian Stock Exchange (“NSE”).

Nigerian billionaire business man Aliko Dangote. Credit: Benedicte Kurzen/NOOR/theafricareport.com

Billionaire Aliko Dangote's smooth landing

With a new government in power, the business magnate is betting on his huge refinery and agriculture projects taking off. Meanwhile, Dangote Cement continues an expansion plan that has left others scrambling to catch up.

Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Nigeria's New Direction: Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Muhammadu Buhari’s inauguration on May 29, 2015 has taken Nigeria in a new direction, one that is so far characterized by national pride and international confidence.

Delta Mall, Warri, Nigeria. Credit: estateintel.com

Resilient Africa is Investing $271M in shopping malls across Nigeria

By year-end 2016, Resilient Africa is set to have invested $271m developing shopping malls in 2nd tier cities across Nigeria.

Fidelity Bank

Nigeria's Fidelity Bank raises $151M via bond issue to boost lending

Nigeria’s Fidelity Bank has raised 30 billion naira ($151 million) through an unsecured bond at 16.48 percent, to fund increased lending to small businesses and retail clients, financial advisers to the issue said on Monday.

Nigerian Stock Exchange to list depositary receipts enabling local ownership of US stocks like that of Apple.

'Bring Nairas, Buy Apple': Nigerian Stock Exchange to enable local purchases of foreign companies' shares

Nigerians will soon be able to invest in companies such as Apple Inc. and LVMH Moet Hennessy Louis Vuitton SE in their local currency at their local bourse.

Bisi Onasanya, CEO, First Bank of Nigeria

First Bank CEO calls on Nigeria to end FX trading restrictions and devalue Naira

Nigeria needs to let the naira devalue as foreign-exchange trading restrictions used to keep the currency stable are starting to harm growth in Africa’s largest economy, said the head of the country’s biggest lender by assets.

Oscar Onyema, CEO, Nigeria Stock Exchange

Nigerian Stock Exchange could start trading Naira futures as early as 2017, says CEO Oscar Onyema

The Nigerian Stock Exchange plans to start trading naira futures that will help investors hedge against movements in the local currency, Chief Executive Officer Oscar Onyema said.

Ade Bajomo, Executive Director, Market Operations & Technology, Nigerian Stock Exchange

Integrating West African stock exchanges could boost liquidity: Ade Bajomo, Executive Director, Market Operations & Technology, Nigerian Stock Exchange

The development of a common platform for cross-border listing and trading in West Africa will create “broader and deeper liquidity”, according to Ade Bajomo, executive director of market operations and technology at the Nigerian Stock Exchange (NSE).

Mitchell Elegbe, Group Managing Director, Interswitch

Nigeria's Interswitch considers IPO dual-listing on London Stock Exchange & Nigerian Stock Exchange for Africa expansion

Interswitch Ltd., which processes payments for banks and owns a brand of debit cards in Nigeria, is considering initial public offerings in London and Lagos next year as it plans an expansion into new African markets.

Johannesburg Stock Exchange (JSE)

Stock exchanges in South Africa, Kenya, and Nigeria plan more ETF cross-listings

South Africa, Nigeria and Kenya are planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities, according to the Johannesburg Stock Exchange.

FTSE and Stanbic IBTC develop Nigeria Investable Pension Fund (IPF) index

FTSE and Stanbic IBTC develop Nigeria Investable Pension Fund (IPF) index

FTSE Group (“FTSE”), the global index provider, announces the development of the FTSE Nigeria Investable Pension Fund (IPF) Benchmark.