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Tag: Investment

ITU announces investment to boost global connectivity
News

ITU announces investment to boost global connectivity

The International Telecommunications Union has announced investment commitments totaling $4.8 billion to enhance global connectivity. This announcement was made on Monday during the plenary of the 2024 World Summit on the Information Society (WSIS+20) forum in Geneva, Switzerland. According to the ITU, these new commitments bring the total pledges aimed at closing the digital divide […]

Nigeria, United kingdom sign historic trade, investment deal
News

Nigeria, United kingdom sign historic trade, investment deal

By Melvin Onwubuke   United kingdom secretary of business and trade, Kemi Badenoch, on Tuesday signed a deal with Nigeria to enhance trade and investment between the two countries. According to The Punch, the United kingdom secretary, Business and Trade,Kemi Badenoch and her counterpart, Doris uzoka-Anite, minister for trade and investment signed the historic deal. […]

Special Economic Zones amass $66bn foreign investment - Report
Business

Special Economic Zones amass $66bn foreign investment – Report

Nigeria’s Special Economic Zones have received more than $66 billion in foreign direct investment and N620 billion in domestic direct investment. The PUNCH reported that the Chairman of the Nigeria Economic Zones Association, Nabil Saleh, said this at the association’s annual general meeting on Wednesday in Lagos. He stated that the investments have resulted in the creation […]

Kenya waives visa fees for Ethiopia, five other nations
Investment

Kenya, Egypt, Nigeria top Africa’s investment destination list – Report

Africa’s investment landscape is shaping up to be a captivating story of growth and expansion, with Kenya, Egypt, Nigeria, and South Africa emerging as the top funding destinations. According to the “Africa Investment Report 2023,” Kenya, Egypt, Nigeria, and South Africa would account for 68% of the continent’s total investment in 2023. According to the […]

Dangote refinery investors gain N1.2tn in two days
Investment

Dangote refinery investors gain N1.2tn in two days

Equity investors in the stocks of companies under the Dangote Group have gained over N1.2 trillion in the first two trading days of this week. This indicated a noticeable surge in interest in the equities of the companies listed on the Nigerian Exchange Limited after the Dangote Petrochemical Refinery started producing. Economic Confidential stated that Dangote […]

Why naira-dollar can't be stable - Minister
Business

Nigeria needs $80bn investments for Agenda 2050 – Minister

The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, stated that Nigeria needs at least $100 billion in investments to accomplish the Nigeria Agenda 2050, with the private sector likely to contribute more than 80%. According to Arise TV,  the minister made this revelation while discussing the 2024 budget. He emphasized the importance of private capital in propelling […]

Sony to invest $10m in African entertainment startups
News Tech

Sony to invest $10m in African entertainment startups

The Sony Group on Wednesday announced the launch of Sony Innovation Fund: Africa (SIF: AF), a programme that will aid the expansion of entertainment companies in Africa. Tokyo multinational conglomerate Sony Ventures Corporation (SVC) has set aside $10 million for early-stage entrepreneurs in the gaming, music, film, and content distribution industries. This fund targeted at […]

FG plans to raise $50m impact investment fund
Economy

Why Nigeria is favourite investment destination after China, India – Edun

The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has declared that after China and India, Nigeria is the largest economy that investors are interested in. Edun offered this perspective on Tuesday while briefing journalists on the sidelines of the ongoing World Bank/International Fund Annual Meetings in Marrakech, Morocco. He stressed the significance […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Business

Nigeria to get funding for ID4D project – World Bank

The World Bank has said that Nigeria will now receive funds from the World Bank for the implementation of its Identity for Development initiative because the country has enacted a data protection law. The signing of Nigeria’s data protection law into law satisfied the requirement for the release of funds from the International Development Association, European […]

Investment company VFD Group has announced plans to raise fresh capital amounting to N32.5 billion through a combination of equity and debt, following approval from its shareholders.
Business

VFD Group to raise N32.5bn through equity, debt

Investment company VFD Group has announced plans to raise fresh capital amounting to N32.5 billion through a combination of equity and debt, following approval from its shareholders. According to Premium Times, the Lagos-based firm, which operates in various sectors including banking, real estate, energy, hospitality, and technology, intends to secure N12.5 billion from stockholders through […]