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Why AFREXIM bank pumped $1bn in Dangote group for further investment

Dangote Afriexim MoU signing (1)

More details have emerged explaining why the African Export Import (AFREXIM) Bank has signed a $1billion memorandum of understanding (MoU) with the Dangote Group of Companies at the 24th Annual General Meeting of the bank holding in Kigali, Rwanda. AFREXIM Bank’s president, Dr. Paul Oramah, said “the deal was part of the bank’s bid to expand businesses in Africa through ...

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Agada, CWG boss explains records N128 million profit in 2016


The Group Chief Executive Officer of pioneer indigenous ICT firm, Computer Warehouse Group (CWG) Plc., James Agada, has opened up on the profit after tax of N128 million in its 2016 operations, despite the microeconomic challenges it faced ib both Ghana and Nigeria operations within the period under review. The report according to a statement by the group showed that ...

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Yudala expands, opens 15 luxury wines/spirits outlets nationwide

Yudala outlet in Lagos

Yudala group has concluded plans to unveil about 15 luxury wines and spirits stores nationwide to cater for the sophisticated lifestyle of Nigerians. In a statement issued on Monday, the chief executive officer, Mr. Wole Ogundare said the stores will be rolled out in major cities including Lagos, Port Harcourt, Abuja, Owerri, Uyo, amongst others will complement Yudala’s extensive online ...

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Lafarge’s Graeme Bride wins ‘eRace Cancer’ during NSE’s Corporate Challenge

Lafarge Africa 2

Graeme Bride from Lafarge Africa came first in the senior citizen category, wining a smartphone and Gym membership as more than 850 participants braved the rain to support the fight against cancer at the 4th edition of the Nigerian Stock Exchange (NSE) Corporate Challenge on Saturday, July 1, 2017 at the Onikan Stadium, Lagos. Other winners inlcude Anokue Uzochukwu from Cutix ...

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Labour excited with Dangote’s feats in investment, employment, youth empowerment


The organized labour in Nigeria has commended Alhaji Aliko Dangote, President and the Chief Executive of Dangote Group for promoting investments and creating thousands of direct and indirect youth employments across the country and in Africa. The labour said Dangote’s patriotism remains unparalleled when it comes to investment and that his investments in many sectors have been a key factor ...

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Minister indicts self, says 40% of farm products waste due to no storage infrastructure

NPA yam export

The Minister of Agriculture and Rural Development, Audu Ogbeh, has revealed that the country wastes about 40 per cent of its food harvest due to lack of storage facilities, an infrastructure usually provided by governments in agricultural economies. Speaking during the flagging-off of the Nigeria Yam Export in Lagos, he was silent on what the government was doing in reducing ...

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Recession receding as manufacturing sector expands for 3rd consecutive month

CBN Godwin-Emefiele

Fresh data from the Central Bank of Nigeria (CBN), has shown that the manufacturing sector if the economy witnessed expansion for the third consecutive month. Statistics from the Purchasing Managers’ Index (PMI) which measures the size of the nation’s manufacturing sector rose to 52.9 index points at the end of June with a 0.4 percent increase from 52.5 percent of ...

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How financial services sector drove market activities last week of June


Activities at the Nigerian Stock Exchange (NSE) last week saw financial services Industry (measured by volume) led the activity chart with 899.307 million shares valued at N6.779 billion traded in 7,977 deals; thus contributing 76.78%. Besides, trading lasted for only three days due to the Federal Government of Nigeria declared Monday 26th and Tuesday 27th, 2017 for public holidays to ...

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6 indices frustrating Nigeria’s chances of attracting international investments—Report


Latest report released by Quantum Global Research Lab in Lagos has listed six indices hobbling the seamless inflow of international investment to the Nigerian economy. Nigeria ranked 19th out of 54 in the new ranking. The factors according to the managing director of the group, Prof. Milton Delo include growth, risk, demographic, liquidity, business environment and social capital. Though the ...

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ASEA, CFA Institute sign MoU to raise skills in investment management sector


The African Securities Exchanges Association (ASEA) has signed a two year Memorandum of Understanding (MoU) with CFA Institute to increase access to the professional education programs and standards of professionalism within the ASEA community’s jurisdictions. Business Hilights gathered that the ASEA is the Premier Association of the twenty-seven (27) securities exchanges in Africa who have come together with the aim ...

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