nigeria

Despite improved earnings in the third quarter of 2024 largely driven by revenue growth, cement giants in Nigeria witnessed significant cost and currency pressures which weighed on profit margins. 

Cost pressures, FX losses erode cement giants’ earnings

Nigerian fintech Moniepoint has attained unicorn status after securing a 110-million-dollar investment from multiple investors, including Google. Moniepoint joins the League of Unicorns in Africa, with the fintech industry dominating. 

What's the pathway for Africa's next unicorns?

The Advisory Board Member at Woodhall Capital, Adejare Olaoluwa says though financial support is key to the growth of SMEs, non-financial aid is also important to enable the businesses scale their offerings, business model and value chain activities.

Olaoluwa: Non-financial support useful to scale SMEs

ETAP, an insurtech has acquired an operational license from the National Insurance Commission of Ghana, the first of its kind in Ghana enabling the startup to process claims, collect premiums and provide other auto insurance products and services. 

ETAP secures Ghana’s first insurtech operational license

The African Export-Import Bank has provided a 25-million-dollar lending facility to SMEs in Nigeria through Woodhall Capital under its Export SME development financing. 

Afreximbank issues $25mn facility to Woodhall Capital for Nigeria SMEs

The Emerging Africa and Asia Infrastructure Fund (EAAIF) has invested $28 million and acted as the sole impact investor in an oversubscribed 300-million-dollar capital market maiden bond issue by Africell. 

EAAIF invests $28mn in Africell’s debut bond issuance

The Nigerian Senate confirmed the nomination of seven ministerial nominees forwarded to it by President Bola Tinubu for appointment as Ministers and members of the Federal Executive Council. 

Nigeria’s senate confirms 7 ministerial nominees

Sebastien Boreux, a Sovereign Analyst at S&P Global Ratings, joins CNBC Africa to unpack the details.

S&P assigns 'B-/B' sovereign ratings to Chad with stable outlook  

As sub-nationals in Nigeria approve the implementation of the new minimum wage, analysts have raised concerns over fiscal space. 

Will fiscal space of Nigeria’s sub-nationals absorb more spending?

Analysts say the 783-million-dollar acquisition of Eni’s Subsidiary, Nigerian Agip Oil Company by Oando, puts the oil firm as the first indigenous company to be elevated to the status of a major IOC with complete control of producing assets. 

Will Nigeria’s indigenous oil firms lead IOC status?

Norrenberger has listed its Islamic and Turbo Mutual Funds on the Nigerian Exchange citing the funds’ maturity level and growth potential for investors. 

Norrenberger lists mutual funds on NGX

George Hampton, the Executive Director for Global Policy and Multilateral Initiatives at The UN Foundation, joins CNBC Africa for this discussion the progress of the pact and more.

NIGERIA