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In a remarkable feat, Dangote Cement, Nigeria’s foremost cement producer, has achieved an extraordinary market valuation of N13 trillion, overshadowing its closest rival, BUA Cement Plc, whose market value falls short of half of Dangote’s. Investors continue to show confidence in BUA Cement, leading to a surge in its market valuation and positioning the company […]

Centenary Bank, one of Uganda’s premier commercial banks, has launched CenteWhatsApp banking, a groundbreaking platform that allows customers to access a range of banking services instantly and securely through the widely used messaging app, WhatsApp. The innovative CenteWhatsApp banking service empowers customers to conveniently check account balances, make money transfers, pay bills, receive real-time notifications, […]

In a historic move, the African Development Bank, boasting a stellar credit rating of Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), has successfully launched and priced its first-ever Sustainable US dollar-denominated 750 million perpetual subordinated hybrid capital notes. On January 30, 2024, the African Development Bank executed a hybrid capital transaction featuring a coupon rate of […]

In a significant market development on Tuesday, Nigerian non-deliverable currency forwards plummeted to unprecedented depths against the U.S. dollar, closely aligning with declines observed in the official spot market, as per data from the London Stock Exchange Group (LSEG). Non-deliverable currency forwards, financial instruments utilized for hedging against potential exchange rate fluctuations, signaled a market […]

In a surprising move, the Bank of Ghana has decided to reduce its benchmark interest rate for the first time since 2021. The monetary policy committee, in a meeting on Monday, announced a cut from 30% to 29%, breaking a trend of rate stability that had been in place since September. This decision, contrary to […]

In a strategic move to fortify its position in the global marketplace, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc, Mr. Temi Popoola, has announced the Exchange’s ongoing collaboration with regulators to review and align its listing rules with global standards, particularly those observed in major financial hubs like London. […]

Nukkleus Inc. and its subsidiary, DRFQ, have entered into a strategic partnership with TANTEL ISAF GROUP LIMITED to make significant inroads into the burgeoning African Business-to-Business (B2B) payments market. The World Bank estimates the value of this market to be upwards of $1.5 trillion. The collaboration seeks to revolutionize payment infrastructure across the continent, addressing […]

Ethiopia is gearing up to grant licenses to foreign investment banks, marking a significant move in preparation for the planned launch of a securities exchange later this year, according to statements from the Director General of the Ethiopian Capital Market Authority, Brook Taye. The liberalization initiative has attracted interest from foreign investors, including Safaricom (SCOM.NR), […]

In a remarkable finish to the trading week, the NGX All-Share Index (ASI) surged by 2.87%, marking a substantial gain of 2,641.15 points to settle at an impressive 94,538.12 points on the last trading day. SWOOTs (Seplat, BUA Cement) dominated the trading landscape, each posting a remarkable 10% gain, while Dangote Cement closely followed with […]

Beltone Investment Management, a subsidiary of Beltone Financial Holding, has secured initial approval from the Financial Regulatory Authority (FRA) to establish a gold investment fund. Beltone is actively working to fulfill the remaining requirements and conditions outlined by the FRA. Upon completion of these procedures, the company anticipates obtaining the final approval for the fund’s […]