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Seplat Energy reaffirms commitment to ESG-aligned operations
Sopuruchi Onwuka Integrated energy company Seplat Energy Plc has reaffirmed its commitment to conducting its operations in line with global environmental, social, and governance (ESG) standards, stressing the need for responsible and sustainable practices within Nigeria’s petroleum industry. The company,…
Flutterwave acquires Mono in rare African fintech buyout
Ziggy Ojiegbe Flutterwave, Africa’s largest fintech company, has acquired Nigerian open banking startup Mono in an all-stock transaction valued between $25 million and $40 million, according to people familiar with the deal. The acquisition brings together two of the continent’s…
Heirs Energies stakes $500m on 20.07% Seplat equity
Buys Out Maurel & Prom Sopuruchi Onwuka Heirs Energies has declared that it has acquired a 20.07 percent equity stake in Seplat Energy Plc, strengthening indigenous ownership in Nigeria’s largest independent energy company. The indigenous integrated energy firm announced on…
AFC enters Canadian market for $100m facility from Findev
The Africa Finance Corporation (AFC) has secured a $100 million, 10-year loan facility from FinDev Canada; marking its first-ever transaction in the Canadian market and FinDev Canada’s inaugural infrastructure financing in Sub-Saharan Africa. The landmark agreement, according to a statement…
Moniepoint raises $90m, targets UK-Nigeria remittance market
Nigerian fintech firm Moniepoint has raised $90 million in new funding as it expands into the UK remittance market, completing a $200 million Series C round that values the company at about $1 billion. The new capital will help the…
Elon Musk in deal with Tesla board to grow capitalization to $8.5 trn
Underway to becoming tentative trillionaire Sopuruchi Onwuka, with agency reports American tech billionaire, Elon Musk, who is already the world’s richest person, is in deal with the board of troubled electric vehicle (EV) maker, Tesla, to focus on growing the…
Africa Energy Bank: Will Nigeria miss another great opportunity?
Sopuruchi Onwuka The delay in the full funding and activation of the highly anticipated African Energy Bank (AEB) clearly falls into pattern with the inability of African countries to muster critical collaborative thrust in pushing collective agenda; it reinvents the…
NUPRC disowns reported consent to SPDC acquisition deal
Sopuruchi Onwuka The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has firmly denied reports claiming it has granted consent for Shell’s $1.3 billion sale of onshore assets to the Renaissance consortium. In a statement issued by the Head of Public Affairs…
SEC warns crypto currency players to stay off Nigeria
Securities and Exchange Commission (SEC) has restated its averseness to crypto currency exchange operations in the country, warning online platforms that prospect such investments to stay away from Nigeria. In reiterating its directive to the global crypto play, SEC pointed…
Industry captains want broader framework for equity investors in energy
Victor Nze Managing Director and Chief Executive Officer of ND Western, Mr Eberechukwu Orji, has made a call for the expansion of the framework guiding capital market operations to accommodate small and micro level investors into the oil and gas…
