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Africa’s $4 trn domestic capital still unlinked to development financing
Institutional funds can unlock development projects __AFC Africa’s domestic capital base has grown to a level that now surpasses external financing flows over the past decade, but much of this wealth remains locked in institutional funds and is yet to…
FG to stake $75m in Flutterwave as company lists in Nigerian bourse
Ziggy Ojiegbe Nigeria is taking a more direct role in shaping the future of its tech sector, with President Bola Tinubu approving a $75 million investment in Flutterwave ahead of the company’s planned listing on the Nigerian Exchange. The funding,…
Airlines to engage govt on Wednesday to decide possible shutdown
Frank Okon Nigeria’s aviation sector has stepped back from the brink of disruption, but only temporarily. A threatened shutdown by domestic airlines has been put on hold pending high-level talks in Abuja on April 22. The outcome of that meeting…
Iran slips 3 oil cargoes through Strait of Hormuz as tensions ease
Ziggy Ojiegbe Three Iranian oil tankers carrying roughly five million barrels of crude have successfully exited the Gulf, marking the first such movement since Washington imposed a blockade on Iran’s oil exports earlier this week. The development raises fresh questions…
BADEA, DBN strike €40m credit deal to expand SME financing in Nigeria
Sopuruchi Onwuka The Arab Bank for Economic Development in Africa has signed a €40 million line of credit agreement with the Development Bank of Nigeria to expand access to long-term financing for small businesses across Nigeria. The agreement was formalized…
Africa caught in debt squeeze as global crises push borrowing costs to record heights
Frank Okon African nations are among the hardest hit by high borrowing costs imposed by a series of global crises, including widespread pandemics, armed conflicts, and economic shocks. The COVID-19 pandemic, the Russia–Ukraine war, and rising instability in the Middle…
Dangote courts global lenders to boost infrastructure investment
Sopuruchi Onwuka President and Chief Executive of the Dangote Group, Aliko Dangote, has stepped up engagement with global financial institutions, seeking to attract investment into Nigeria’s infrastructure and industrial sectors. Speaking at the launch of the World Bank’s “Water Forward”…
Local Content Funding: Players must show institutional readiness __Tony Attah
Sopuruchi Onwuka Players in the upstream petroleum industry who seek initial funding must advance propositions that demonstrate institutional readiness and commercial bankability in order to secure immediate cash, short-term equity investments and long-term capital support from the stock market. Managing…
NCDMB to share Tony Attah’s insights on funding local content initiatives
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has announced that Engr. Tony Attah, Managing Director of Renaissance Africa Energy Company Limited, will be the guest speaker at the next edition of the Nigerian Content Academy Lecture Series….
US EXIM approves over $2 bn US LNG supply to Egypt
Ziggy Ojiegbe The Export-Import Bank of the United States has approved more than $2 billion in financing support for U.S. liquefied natural gas exports to Egypt, in a move aimed at expanding American energy reach and strengthening strategic trade ties….
