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Falcon Corporation bags ‘A’ rating on strong cash flow, gas demand
Sopuruchi Onwuka Frontline indigenous gas distribution player, Falcon Corporation Limited, has secured an “A” long-term and “A1” short-term corporate credit rating with a stable outlook from Agusto & Co., Africa’s foremost credit rating agency. The rating was announced in Lagos…
Lagos to establish West Africa’s 1st international financial centre
Sopuruchi Onwuka Lagos State is set to establish West Africa’s first International Financial Centre following the launch of a landmark report by TheCityUK in collaboration with the UK Government, the Lagos State Government, the Lagos International Financial Centre Council, and…
GuarantCo backs $75m cashew processing plant in Ogun to boost local value addition
Sopuruchi Onwuka The British High Commission (BHC) has declared that GuarantCo, part of the Private Infrastructure Development Group (PIDG), provided a 100 per cent guarantee to support a $75 million debt facility for Robust International Pte Ltd to construct a…
Sterling HoldCo sustains profit momentum with 99% pbt growth
Sopuruchi Onwuka Sterling Financial Holdings Company Plc (Sterling HoldCo) has sustained its profit momentum, posting a 99 per cent year-on-year increase in profit before tax (PBT) for the year ended December 31, 2025, driven by strong revenue growth, improved operational…
Paystack plots broader financial service range
Ziggy Ojiegbe Paystack, a leading digital payments company with a strong footprint in Nigeria’s financial services market, is planning to expand beyond payments into retail banking and consumer finance as unmet demand continues to create new growth opportunities across the…
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 to drive long-term growth with $750m
Sopuruchi Onwuka Heirs Energies Limited has secured a $750 million financing from the African Export–Import Bank (Afreximbank), marking one of the largest funding transactions ever obtained by an indigenous African energy company. According to Heirs Energies, the Afreximbank facility will…
AltBank takes non-interest banking solutions to Delta State
Sopuruchi Onwuka The Alternative Bank (AltBank), Nigeria’s non-interest bank, has opened its flagship branch in Effurun, Delta State in a plan to reshape how people across the Edo and Delta region experience banking. The bank stated in a media release…
Ratings upgrade: Fiscal rascality still threatens Nigeria’s economy
Sopuruchi Onwuka Nigeria is earning new confidence from global rating agencies as President Bola Tinubu’s economic overhaul begins to show early traction. Yet the country’s rising debt load and persistent fiscal gaps continue to test how far these reforms can…
The Alternative Bank named Most Innovative Bank at AICIF 2025
The Alternative Bank (‘AltBank’) has been honored as the ‘Innovative Bank of the Year’ at the 7th African International Conference on Islamic Finance (AICIF), underscoring its commitment to transformative, inclusive financial solutions across the continent. The award, presented recently, at…
