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Lagos, South Africa and New York
Sunday, June 7, 2020

Dangote Cement gets approval to issue N300bn bond issuance

Dangote Cement Plc, Africa’s largest Cement manufacturer has obtained the approval of its Board of Directors to access the capital market for a medium-term debt funding under its N300bn bond registration programme. The cement firm in a statement obtained from the Exchange said it intended...

Abule-Ado Gas Explosion: Dangote Donates N100m Cement to victims for Reconstruction

…As Dangote Cement Management commiserates with gov Sanwo-Olu Dangote Cement Plc yesterday donated N100 million worth of cement to the Lagos State government, to support the ongoing reconstruction process at the Abule-Ado area of Amuwo-Odofin Local Government of the state, which was affected by a...

BUA Group acquires majority interest in P.W. Nigeria Ltd

BUA Group has acquired majority shareholding in P.W. Nigeria Limited – one of Nigeria’s largest construction, engineering and mining companies. BUA said the acquisition was necessary to further deepen its investments in the infrastructure business in sub-Saharan Africa. The Executive Chairman of BUA Group, Abdul...

Access Bank completes N15bn green bond listing on Luxembourg Stock Exchange.

Access Bank says it has completed the listing of its N15bn green bond on the Luxembourg Stock Exchange. A statement said the 15.50 per cent fixed rate, unsecured climate-credential green bond represented a major milestone in the development of the local green finance market. The bond...

Dangote Fertilizer Contractor Staff tests Negative to COVID-19

    An Indian staff of Onshore Construction Company, an instrumentation contracting firm with Dangote Fertilizer Limited, who had shown symptoms associated with COVID-19 and subsequently isolated, has been confirmed negative.   Lagos State Commissioner for Health, Prof. Akin Abayomi, who disclosed the outcome of the test via...

FrieslandCampina WAMCO in-talks to acquire PZ Cussons’ Nutricima

United Kingdom based PZ Cussons company has announced the proposed sale of its Nigerian dairy business Nutricima on Wednesday, along with the completion of the previously-announced sale of its Polish personal care brand Luksja. The FTSE 250 company said it has exchanged contracts for the...

Airtel completes $94m spectrum purchase

Airtel Africa Plc says it has completed the acquisition of 10 MHz spectrum in the 900 MHZ band in Nigeria for a total consideration of $94 million. The company said it completed the spectrum acquisition after obtaining approval from the Nigerian Communications Commission. The telecommunications company...

Zenith Bank reportedly in-talks to acquire Union Bank

Zenith Bank Plc has reportedly been given the green light to merge or acquire Union Bank Nigeria Plc, people familiar with the proposed deal has told Naija247news.com According to a reliable source talks are on-ongoing between parties from the two commercial banks and a tentative...

SMEs must reinvent to remain competitive – Heritage Bank CEO, Sekibo

Business Managing Director/Chief Executive, Heritage Bank Limited, Mr. Ifie Sekibo has advised Small and Medium Enterprises (SMEs) to reinvent themselves in order to remain competitive and overcome the challenges of the COVID-19 pandemic. Speaking on “Converting ideas into reality with focus on SME’s”, Sekibo also stressed...

Canadian, Asian investors backed Nigeria automaker raises $9 million to build electric vehicles

JET Motor Company, a Nigerian-based automobile manufacturer, has raised $9 million from Canadian-based Africa Development Capital, Greatman Legend and a number of Asian investors. The company will use the money to fund the research and development of its electric vehicles which it has called...