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 […]

In a historic move for African investment, Africa50 Group, the pan-African infrastructure investment platform, has officially closed the first round of its Africa50 Infrastructure Acceleration Fund (Africa50-IAF), raising an impressive $222.5 million in commitments. A groundbreaking aspect of this achievement is the participation of 16 African institutional investors, marking a first for the continent. This […]

In a strategic move to bolster the country’s digital currency landscape, several Nigerian commercial banks have expressed their intent to develop a stablecoin named cNGN, aiming to complement the eNaira, Nigeria’s central bank digital currency (CBDC). Scheduled for launch in January 2024, cNGN is set to maintain a 1:1 peg to the naira, offering stability […]

The Central Bank of Nigeria (CBN) witnessed an overwhelming display of investor confidence in the final issuance of Nigerian Treasury bills for 2023, as the December market auction recorded an impressive oversubscription of N970 billion. Despite the CBN offering N67.02 billion in treasury bills, the total subscription reached an astounding N1.037 trillion during the auction. […]

On the first trading day after the Christmas holiday, the Nigerian Naira exhibited resilience, gaining 1.52% against the US Dollar at the official market. Forex turnover witnessed an impressive 38.81% increase, reaching $127.93 million on Wednesday, December 27, 2023. Data from the Nigeria Autonomous Foreign Exchange Market (NAFEM), the official forex trading platform, revealed the […]

The Nigerian Exchange Limited experienced a wave of positive sentiment, commonly referred to as the ‘Santa Claus Rally,’ leading to notable gains for Airtel Africa Plc and MTN Nigeria Plc. This surge in optimism resulted in substantial gains for investors, with the telecom sector demonstrating resilience in the face of economic volatility. During the week’s […]