Nigeria’s capital market has officially transitioned from a T+3 to a T+2 settlement cycle, reducing the time between trade execution and settlement to two business days. The move, effective November 28, is aimed at improving market efficiency, lowering risks, and aligning the country with global post-trade standards, while laying the groundwork for a potential T+1 […]
Read MoreNigerian fintech company FairMoney (MyCredit Investments Limited) has received a credit rating upgrade from Global Credit Ratings (GCR), one of Africa’s leading rating agencies. Its long-term rating rose from BBB(NG) to BBB+(NG), while its short-term rating was upgraded from A3(NG) to A2(NG). The agency maintained a Stable Outlook, reflecting confidence in the company’s strong financial […]
Read MoreIn a strategic move to enhance financial services across Nigeria, OPay has officially opened a renovated office in Ibadan. The new facility is the first under the company’s nationwide branch upgrade initiative and is designed to provide seamless support for merchants, small and medium-sized enterprises (SMEs), corporate clients, and individual users in Oyo State. The […]
Read MoreSouth Africa’s Competition Tribunal has formally approved Lesaka Technologies’ acquisition of Bank Zero, a fully digital bank, in a deal valued at R1.1 billion ($63.8 million). First announced in June 2025, the transaction still requires final approval from the Prudential Authority and South Africa’s Exchange Control before it can be completed. Bank Zero, launched in […]
Read MoreNetflix has submitted a largely cash-backed offer to acquire Warner Bros Discovery, accelerating a high-stakes bidding process that could dramatically reshape the global media and entertainment landscape. According to Bloomberg, the streaming giant—now serving more than 280 million subscribers worldwide—entered the second round of bidding alongside Paramount Skydance and Comcast, the parent company of NBCUniversal. […]
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BUA Cement, Cadbury Sell-Offs Wipe Out N444bn as Market Slumps Amid Renewed Investor Caution The Nigerian equities market retreated sharply on Wednesday as renewed sell-offs in heavyweight counters wiped out more than N444bn from the market capitalisation of the Nigerian Exchange Limited. The downturn was triggered by substantial losses in BUA Cement, Cadbury Nigeria and […]
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Shareholders of SUNU Assurances Nigeria Plc have given overwhelming approval for the company’s proposed ₦9 billion recapitalisation plan, a strategic move designed to align the insurer with the stringent capital requirements of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The resolution was passed at an Extraordinary General Meeting (EGM) held in Lagos, which recorded […]
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The NNPC/Seplat Joint Venture has officially commissioned a sophisticated power distribution system and underground cabling network at the Nigerian Oil and Gas Industrial Parks Scheme (NOGAPS1) in Odukpani, Cross River State, marking a significant step in advancing Nigeria’s industrial infrastructure. The event drew senior representatives from NNPC Upstream Investment Management Services (NUIMS), Seplat Energy Producing […]
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Dangote Group has formalized a strategic partnership with Honeywell to significantly expand the capacity of its Lekki Refinery, targeting a production level of 1.4 million barrels per day (bpd) by 2028. The expansion is poised to enable Dangote to process nearly all of Nigeria’s current crude output, estimated at 1.5 million bpd, reinforcing the refinery’s […]
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Vodacom Group is in advanced discussions with the Kenyan government to acquire a portion of its 34.9% stake in Safaricom, the country’s largest publicly listed telecom operator. Currently holding nearly 40% of Safaricom, Vodacom is reportedly exploring options to increase its ownership, though no final agreements have been confirmed. Neither Vodacom, Safaricom, nor Kenya’s National […]
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