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Business

MTN Nigeria completes it issuance and signing of N110 billion bonds

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MTN nigerian have successfully completed the issuance of the N110 billion naira bonds following series 1 of 7 years on a 13.0 percent fixed rate bond due in 2028 (series 1 bonds).

The Company initially indicated interest in raising 100 Billion in the series 1 of the registered shelf programme.

The N110 billion Series 1 of the 7 year corporate bond which is the second largest and the first Telco bond with the Chapel Hill Denham Advisory, Nigeria and Africa’s leading independent investment bank.

Present at the signing of the new MTN issuance bonds were,

CEO MTN Nigeria, Karl Toriola,

CFO, Modupe Kadiri, Bolaji Balogun,

CEO Chapel Hill Denham, Femi Badeji

ED, FCMB, Kayode Akinkugbe

FBN Quest MD and others.

 

Mtn nigeria 100 billion issuance bonds

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Business

Google announce lifting of ban on crypto exchange advertisment

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The most popular search engine channel Google, has finally lift ban on crypto exchange for advertisments.

Google announced the lifting of this ban following the suspension of a nearly three-year-old policy banning Crypto exchanges from using its ad services.

From the month of August, 3rd to be specific advertisers of Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.

To be fully certified by Google advertisers need to register the following

  • FinCEN as a Money Services Business and with at least one state as a money transmitter; or
  • federal or state-chartered bank entity

And must meet all legal requirements.

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Business

Insecurity in Nigeria, a big threat to investment – NESG

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The Nigerian Economic summit group (NESG),  on it monthly report according to may reports that insecurity in the country has become a big threat to business investment.

The Group has warn that insecurity will damage the investment system of the country and urges the Nigerian government to make haste and tackle the issue of insecurity in the country to enable a free and smooth avenue for investment.

The Nigerian Economic Summit Group is a non-profit, non-partisan private-sector led think tank with a mandate to promote and champion the reform of the Nigerian economy into an open, globally competitive economy.

As there aims is to improve the economy systems, it is deem fit to make reports and recommendation on the improvement of Nigerian investment.

According to the monthly report publish this may the NESG  this key point were highlighted

  1. Large arable land.
  2. Strategic location in Africa.
  3. Large market and opportunities presented by the AfCFTA.
  4. Import dependent–manufactured and agricultural goods account for 72.5% of total import in 2020.
  5. Weak manufactured goods exports – share of manufactured goods to total exports was 7.7% in 2020.
  6. Large population – Nigeria has a population of over 200 million people

After highlighting this main point,  it also stated that the government must provide an avenue for good investment and which will foster infrastructural development and build up the Nigerian economy.

 

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Business

Kofo Sanusi appointed as Chief operating officer by AVCA

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African Private Equity and Venture Capital Association (AVCA)  board members has appointed young Kofo Sanusi as Chief operating officer.

According to AVCA Kofo joins the Founders Factory Africa (FFA) as a venture development company investing in start-ups in sub-Saharan Africa region.

Before the appointment she was responsible for overseeing the activities and operations of the company’s financial activities, leading to it investment and start up of scales across Africa.

The CEO of AVCA Abi Mustapha-Maduakor commend Kofo for her deligent and consistent to service which earned her this appointment.

 

According to AVCA post on Twitter below


Speaking of her appointment, Kofo said:

Speaking of her appointment, Kofo said: “Having spent many years supporting African businesses to grow and scale their operations, it is a privilege to continue serving the continent through my role as Chief Operating Officer at AVCA. There is no better time than now to invest in Africa, and I look forward to working with the AVCA Board, supporting the CEO and leading the great team of people working hard to deliver on our strategic vision.”

 

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