Nigeria detains global executives in war on crypto
Nigeria has declared war on leading global cryptocurrency exchanges. On 26 February it detained two top international executives of Binance after they flew in for discussions with Nigerian authorities and is still holding them against their will. Binance has since switched off access to trading naira against cryptocurrencies on its platform. On 12 March, the […]
Do Africa’s $372bn pension fund assets facilitate inclusive growth and social stability?
Africa’s $372bn pension fund assets – do they facilitate inclusive growth and social stability? Is the money well invested, including capital markets and equities, private equity and infrastructure development? Bright Africa report by RisCura.
$183bn of M&A in Africa in last 10 years, Britain leads
The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.
IFC to issue $50m (NGN8 billion) Naija bond in Nigeria
The International Finance Corporation plans to issue a $50 million (NGN 8 billion) local-currency “Naija” bond in Nigeria to support the domestic capital markets and increase access to local-currency finance. IFC bonds are rated triple-A by Moody’s Investors Service and Standard & Poor’s.
Nigeria’s Securities and Exchange Commission educates, partners Nollywood film
Nigerian regulator, the Securities & Exchange Commission, is travelling the country to build education and awareness. SEC Director General Arunma Oteh, SEC Commissioners and senior officials visited Port Harcourt, capital of Rivers State, for 4 days of meetings with stakeholder groups.
Nigerian Stock Exchange suspends 27 shares, including 3 banks
The Nigerian Stock Exchange has placed 24 companies on full suspension for failing to submit their financial statements for the year ended 31 December, 2010 and has also suspended 3 banks that are being rescued.
Private equity firms invest $79 mn in telecoms towers
Leading international private equity firms are investing $79 million to build and acquire mobile phone towers in sub-Saharan Africa. Investec Asset Management, the International Finance Corporation and the Netherlands Development Finance Company are taking equity in IHS Nigeria Plc (IHS).