Capital-hungry Nigerian banks issue stocks amid economic squeeze

📆 16/07/2024 13:49:00
📰 TheAfricaReport

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A growing number of Nigerian banks are tapping the country’s stock market to raise fresh capital amid mounting economic headwinds that have exacerbated the cost-of-living crisis and kept many foreign investors on the sidelines.

The Central Bank of Nigeria had on 28 March 2024 announced new capital requirements for banks to meet by 1 April 2026 to enable them to support the target goal of a $1trn economy set by President Bola Tinubu.Kenya will not negotiate G2G oil deal despite Eurobond refinancing

Kenya will not renegotiate the financing model of the G2G oil agreement with Middle Eastern companies, despite solving Eurobond jitters.In early July, Nigeria’s attorney general stepped in to halt the copyright infringement case against MTN Nigeria and its CEO Karl Toriola. The musicia...Hydrocarbon exploitation projects are still being developed on the continent, despite promises made at the UN Climate Change Conference in Dubai.

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