Ecobank Transnational Inc’s unit in Nigeria sold $200m of dated subordinated notes due in 2021 to join lenders in Nigeria raising funds through debt sales, Bloomberg News reported on Thursday. The issuance has a yield of nine per cent and a coupon of 8.75 per cent, according to information from a person with knowledge of the offering, who asked not to be identified because they weren’t authorised to speak publicly. Deutsche Bank AG and Standard Chartered Plc were the lead managers.
Updated 6 Years ago

As has become the norm with rival parties during Nigerian elections, accusations and counter accusations continued to fly over the Osun political space with just a day to the governorship election in the state. Yesterday, the All Progressives Congress (APC) said it had uncovered the Peoples Democratic Party's (PDP) manual to rig Saturday's governorship election in the state, complete with projected fake results in all the 30 local government areas of the state.
Updated 6 Years ago

The Osun State chapter of the All Progressives Congress (APC) yesterday raised the alarm over what it described as the surreptitious transportation of millions of ballot papers into the state with a bullion van by the Peoples Democratic Party (PDP) from Abuja on Wednesday. Also, a Physically Challenged Democratic Vanguard, (PCDV) in the state has equally tasked people with disabilities in the state to ensure they perform their civic rights on Saturday by voting for candidates of their choice.
Updated 6 Years ago

A gubernatorial hopeful of the Labour Party (LP) in Oyo State in the 2015 election, Chief Sharafadeen Abiodun Alli, and another chieftain of the party, Wale Olatunji Murphy, yesterday expressed optimism in Ibadan, the state capital, that their party will form the next government in the state. The duo also took a swipe at the All Progressives Congress (APC)-led government in the state, saying it has fallen short of people’s expectations.
Updated 6 Years ago

Senate Leader, Senator Victor Ndoma-Egba (SAN), has stated that Nigeria is working seriously to ensure that more territories from Cross River State are not ceded again to Cameroun, her central African neighbour. In August 2008, Nigeria formally handed over Bakassi Peninsula to Cameroun in compliance with the October 10, 2002 judgment of the International Court of Justice (ICJ), and the spirit of the Green Tree Agreement signed by both countries.
Updated 6 Years ago

A young entrepreneur might run across a lot of articles offering advice for the new business owner. But how many articles are actually geared toward the young entrepreneur? As a former young entrepreneur myself (now I'm 30), I’ve decided to share my insights from my past experiences -- all the types of things that I wish someone had passed on to me when I was first starting out.
Updated 6 Years ago

500 Startups is one of the world's top accelerators. Many members of AlleyNYC have joined the program. Companies like Pijon and Chalkableare all 500 Startup alumni that are AlleyNYC members kicking ass and taking names. 500 Startups, much like their founder (Dave McClure) is badass, and I wanted to share the next group of companies with you. For those of you who want to learn more here is a video about 500 Startups: CareLuLu is a marketplace that connects parents with licensed daycares and preschools. Instead of spending hours doing research, gathering references and driving around town for site visits, CareLuLu offers parents a personalized online search to quickly find safe and affordable daycare options that fit their family's specific needs.
Updated 6 Years ago

MTN, the JSE-listed mobile phone operator, posted results it described as “solid” operational performance in the six months to June this year with growth realised in data and mobile money. The firm, which connects more than 215 million people in 22 countries in Africa and the Middles East, said during the period under review subscriber numbers increased 3.5 percent to 215 million with revenues surging 11 percent to R72.7 billion ($6.7 billion).
Updated 6 Years ago

Africa’s leading mobile telecommunications infrastructure Provider, IHS Towers has signed a deal with Etisalat Nigeria to purchase 2,136 of its towers, estimated by Reuters, to the tune of $400 million. The deal will also see the Nigerian-headquartered company lease back the towers to Etisalat as well as invest $100 million into its upgrade and the improvement of its efficiency.
Updated 6 Years ago

The Nairobi City Council (NCC) has called for tenders for the construction of a 17-storey car park at the central business district, estimated to cost Sh4 billion ($45.5 million) and accommodate up to 3,000 vehicles. The high-rise building will be erected on the Sunken Car Park land, which currently has less than 500 slots. Apart from the parking spaces, the building will also have office and commercial spaces.
Updated 6 Years ago