Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Grpup (NGX) and Johannesburg Stock Exchange (JSE), announced a strong financial performance for the Full Year (FY) 2024 with a 45% growth in revenue to N4.1 Trillion compared to N2.9 Trillion in FY 2023 results. The […]
Category: Capital Market
Capital Market
Airtel Africa’s Data Penetration Climbs 13.8% To 71.4m as Customer Base Expands
Airtel Africa has reported a significant increase in its data and mobile money customer base in its nine months ended December 31, 2024. The company’s total customer base grew by 7.9 per cent to reach 163.1m, with data customer penetration rising by 13.8 per cent, bringing the number of […]
Access Bank To Host Pioneering Africa Trade Conference In Cape Town
Access Bank Plc is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa. The conference is […]
CAP Records 57% Growth In PBT
Chemical and Allied Products Plc (CAP) Plc has released its unaudited Consolidated Financial Statements for the full year ended December 31st, 2024, to the Nigerian Exchange Group (NGX). The company’s balance sheet remained resilient with total assets growing by 27 per cent to N19.58bn in in 2024 […]
Mid-Level Investors Boost Liquidity in Nigerian Capital Market – Amolegbe
Managing Director and Chief Executive Officer of Arthur Stevens Asset Management Limited, Olatunde Amolegbe has highlighted the growing presence of mid-level investors in the Nigerian capital market, emphasizing their critical role in boosting market liquidity. Speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) 2024 Market Review and […]
Wema Bank To Raise Additional N200bn To Complete CBN Recapitalization Requirement
Wema Bank Plc has announced that it will be completing its capital raise through a combination of a Rights issue and Special placement exercise set to go live on April 1, 2025, with the goal of raising N200bn in fresh capital. This would mark the second and final tranche […]
Collective Investment Schemes Rises to Over N3trn In 2024, says SEC
The Securities and Exchange Commission (SEC) on Wednesday disclosed that its Collective Investment Schemes increased to over N3 trillion in 2024. The Director General of the SEC, Dr. Emomotimi Agama who disclosed this during an interaction with reporters in Abuja, explained that collective investment schemes are a part of […]
Stanbic IBTC’s N148.7bn Rights Issue Launches on NGX Invest
The Nigerian Exchange’s (NGX) e-offering platform, NGX Invest, continues to revolutionize capital-raising in Nigeria with the addition of Stanbic IBTC Holdings Plc’s N148.7 billion rights issue. Presented at the Facts Behind the Rights Issue event, the Rights Issue, which has been open since January 15 and will close on February […]
Acquisition Of Another Insurer Not In Our Plan For Recapitalisation- Ogunbiyi
Mutual Benefits Assurance Plc says it doesn’t intend to acquire any insurance company for the recapitalisation exercise mandated for insurers. Dr Akin Ogunbiyi, Chairman of Mutual Benefits Assurance Plc, said this in an interview with the News men on the sideline of the insurance company’s 29th annual thanksgiving […]
Nigeria To Rebase GDP, Inflation Data By Month-End
Nigeria’s National Bureau of Statistics (NBS) has announced plans to rebase the country’s Gross Domestic Product (GDP) and inflation data by the end of January 2025. The move is designed to capture structural changes in the economy and align economic statistics with current growth and […]