United Capital Plc has launched expansion into Francophone West Africa with the establishment of a new subsidiary, United Capital Asset Management West Africa Limited (UCAMWAL), and the rollout of two new CFA franc-denominated mutual funds. The funds—UCAMWAL Bond Fund and UCAMWAL Diversified Fund—were unveiled at a formal event in […]
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PZ Cussons Exits Palm Oil JV as Wilmar Buys 50% Stake for $70m
PZ Cussons plc and Wilmar International Limited jointly announce Wednesday (Today) that the two parties have agreed definitive terms for Wilmar to purchase the 50 per cent equity stake in PZ Wilmar Limited held by PZ Cussons plc, for cash consideration of $70m. According the transactional document, completion of […]
FGN Raises ₦4.01bn From June Savings Bonds Amid Lower Yield Environment
The Federal Government of Nigeria has raised a total of ₦4.01bn from its June 2025 issuance of the Federal Government of Nigeria (FGN) Savings Bonds, according to data published by the Debt Management Office (DMO). The offer, conducted between June 2 and June 6, 2025, saw strong interest […]
Chances Rise For Afreximbank Involvement In Debt Restructuring- JPMorgan
The chances of Afreximbank getting involved in a debt restructuring have increased, JPMorgan said on Tuesday, while also upgrading its recommendation on the lender’s bonds to overweight, citing valuations in the wake of the Fitch downgrade. According to Reuters, the African trade and development lender has been at […]
Fitch downgrades Afreximbank To One Notch Above ‘Junk’
Fitch downgraded Afreximbank’s credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. According to Reuters, the one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia […]
Airtel Sets ₦1,589/$ for Final Dividend Conversion
Airtel Africa Plc has announced the currency arrangements for its final dividend payment for the financial year. The Board has recommended a final dividend of 3.9 cents per ordinary share, payable on 25 July 2025, to shareholders whose names appear on the register as at the close of business […]
SEC Sounds Alarm on Ponzi Schemes, Calls for Vigilance to Safeguard Investors, Economy
The Securities and Exchange Commission (SEC) has sounded a renewed warning on the dangers of Ponzi schemes, highlighting their devastating impact on investor confidence, financial stability, and the Nigerian capital market. This was the central theme of a paper titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality” presented […]
MTN Nigeria Gets AAA Rating From GCR, Outlook Upgraded To Stable
MTN Nigeria Communications Plc has received an affirmation of its national scale long-term and short-term issuer ratings of AAA and A1+, respectively, from Global Credit Rating Co. Limited (GCR) with the rating outlook revised upward from Negative to Stable. GCR also reaffirmed the AAA long-term issue ratings on all […]
Do not Patronise Silverkuun, SEC Warns
The Securities and Exchange Commission has warned the public against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited. In a circular issued in Abuja, Wednesday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and […]
United Capital Asset Management unveils investment fund for children
United Capital Asset Management (UCAML), a leading asset management company and subsidiary of United Capital Group, has launched its latest mutual fund – The Children Investment Fund to shape the financial future of the next generation and to boost financial literacy. The Children Investment Fund is a naira-denominated, open-ended […]