Friday, September 30, 2022
58 years of Nigeria’s independence, Ebere Nwoji writes that the pension sector has recorded significant growth. The pension sector no doubt, is one of the fast growing sectors of the economy since the introduction of the funded Contributory Pension Scheme...
The African Development Bank has approved a $217.9 million loan to South Africa’s power utility Eskom Holdings, towards the upgrade and expansion of its transmission facilities. The funding supports the Eskom Transmission Improvement Project (ETIP), which will see the construction...
Canada’s Barrick Gold Corp has agreed to buy Randgold Resources Ltd in an all-stock deal valuing the Africa-focused miner at $6.5 billion, to create the world’s largest gold producer in an industry under investor pressure to put capital to...
The former minister of aviation, Babatunde Omotoba, has revealed that the current infrastructure in the power sector was incapable of transmitting more than 4000 megawatts adding that Nigeria cannot generate 7000 megawatts. He stated this in Abuja yesterday at the...
Nigeria’s central bank said on Wednesday it had ordered South African telecoms firm MTN and four banks to bring $8.134 billion back into the country that MTN had illegally sent abroad in breach of foreign exchange regulations. The news...
The African Development Bank, the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc today announce the pricing of Room2Run, a US $1 billion synthetic securitization corresponding to a portfolio of seasoned pan-African credit risk. Room2Run...
Coca-Cola Co (KO.N) has agreed to buy coffee chain Costa for $5.1 billion (3.92 billion pounds) to extend its push into healthier drinks and take on the likes of Starbucks and Nestle in the booming global coffee market. The purchase...
Ethiopian Airlines has announced that it has completed the deal to purchase a 49 per cent stake in new Chadian Airlines. In the joint venture, the government of Chad will retain 51 per cent. The new Chadian flag carrier is set...
Algerian state energy firm Sonatrach is in talks with 14 international firms for a joint venture to trade oil and gas products after agreeing to buy its first overseas refinery, its CEO said on Thursday. "I am happy to say...
A privately-owned Nigerian producer of building materials, Ibeto Cement Co. Ltd, has signed a deal to get $850 million in financing from Milost Global Inc, a New York-based private equity firm. According to Bloomberg, Milost will provide $500 million in equity and $350 million as debt to...
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