In this quarter, we focus on the dynamic landscapes of banking, finance, capital markets, energy, natural resources, transportation, technology, media, and telecommunications sectors in Nigeria and across the African continent. As the heartbeat of innovation and progress, these sectors play pivotal roles in shaping our societies' economic, social, and technological fabric.
Through insightful analysis, industry updates, and expert commentary, our newsletter aims to provide a comprehensive overview of the latest trends, developments, and opportunities in these vital sectors.
Banking & Finance
On 8 April 2024, the Central Bank of Nigeria (CBN) issued a directive to all banks, prohibiting the use of foreign currency (FCY)-denominated collaterals forsecuring Naira loans. The CBN however exempted Eurobonds issued by the Federal Government of Nigeria and Guarantees from foreign banks, including Standby Letters of Credit from this prohibition. By this directive, the CBN has now mandated that all...Read more
Capital Markets
The Nigerian Exchange Group Plc (NGX Group) has invested significantly in the Ethiopian Securities Exchange (ESX), marking its entry into East Africa. This move, supported by FSD Africa and Trade and Development Bank Group (TDB), aims to foster growth and innovation in the African capital markets. By this investment, NGX Group not only aims to contribute to robust regulatory frameworks and foster best practices within the ESX ecosystem but also...Read more
Energy & Natural Resources
Africa Finance Corporation (AFC) has invested about $14,100,000 in the Morocco-UK Power Project, aiming to supply clean energy from Morocco to the UK using renewable sources like wind and solar. This project, which is capable of powering 7,000,000 British homes, supports Europe’s green transition program while creating jobs and fostering Morocco's renewable energy sector. AFC’s Chief Executive Officer, Samaila Zubairu, commented on Africa’s role in global carbon net-zero goals, emphasising the... Read more
Transportation, Technology & Telecommunications
AD Ports Group, headquartered in Abu Dhabi, has entered into agreements with Angolan logistics and transport firms, Unicargas and Multiparques, securing a 20-year concession (with a possible extension for another 10 years) from the Luanda Port Authority in Angola. This agreement involves modernising and operating the Luanda multipurpose port terminal. AD Ports will invest $251,000,000 initially, potentially increasing to... Read more
