The African Development Bank will on Wednesday, April 17, 2019 launch 17 new grant projects funded by the Agriculture Fast Track Fund (AFT) in support of agribusiness Small- and Medium-sized Enterprises (SMEs) in eight African countries. The AFT Fund is managed by the Agriculture and Agro-Industry Department of the African Development Bank and supports the
Bill Ackman’s hedge fund is roaring back from a recent losing streak. Pershing Square is up 31.9 percent so far this year as of today, according to the New York-based firm’s website. The solid returns follow a string of recent losses for the activist investor. In early 2018, the fund’s assets were down by roughly
The Bank of Industry and All On, a Nigerian off-grid energy investment company backed by Shell, have announced the establishment of a N1bn Niger Delta Off-Grid Energy Fund. They said the fund would provide local currency debt financing to facilitate the deployment of energy solutions by access-to-energy companies in the Niger Delta at 10 per
The acting Director General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, has said total pension fund assets have grown to N8.63 trillion as at December 2018. She disclosed this at the public hearing of the House of Representatives Ad-hoc Committee in Abuja. The committee is mandated to investigate activities of PenCom and alleged violation of
In a bid to raise N90billion in fresh capital by way of rights to existing shareholders, the board of Lafarge Africa Plc. has informed Nigerian Stock Exchange (NSE), plans for an Extra-Ordinary General Meeting (EGM), on September 25, 2018, in Lagos. The company will also seek approval “to apply any convertible loan, shareholder loan or
Fidelity Bank Plc has donated N50 million to the Lagos State Security Trust Fund (LSSTF), as part of its contributions to improving security of lives and property in the state. The cheque was presented by the bank’s Executive Director, Lagos and South-West, Mrs Nneka Onyeali-Ikpe to the Executive Secretary, LSSTF, Dr. Abdulrassaq Balogun, at a
Six Commercial banks have made payments totaling N155.45 billion into the sinking fund of Asset Management Corporation of Nigeria (AMCON) within three years. Access Bank, GTBank, United Bank for Africa (UBA), Fidelity Bank, FCMB Group and Sterling Bank made the payments between 2015 and 2017. Data obtained from the banks’ annual reports showed that Access
An Indian billionaire who promised to help fund a rival to Facebook said recently he had been “overwhelmed” with the response as the world grapples with concerns about data privacy. Anand Mahindra, whose Mahindra Group business empire spans everything from cars to real estate, sparked a flurry of brainstorming as Facebook reels from a scandal
