FG overshoots borrowing limit as new debt reaches N12.62tn
The Federal Government exceeded its 2024 borrowing target by N4.79tn after a wider-than-projected budget deficit forced it to raise significantly more financing than originally planned, the Budget Office of the Federation has disclosed. According to the…
NBET, Lagos lead biggest bond borrowers in H1
NBET Finance Company Plc emerged as the largest issuer after raising N501.02bn through two bond tranches priced at 17.50 per cent. The proceeds are expected to ease liquidity challenges in Nigeria’s electricity market through the Nigerian Bulk…
Africa’s second-richest billionaire takes full control of major private hospital network in $947 million deal
South African billionaire Johann Rupert has strengthened his grip on the country’s private healthcare industry after investment holding company Remgro completed its $947 million (R15.56 billion) acquisition of full ownership of Mediclinic Southern…
Is Africa quietly building alternatives to dollar dependency?
For decades, most cross-border trade involving African businesses has relied heavily on the US dollar, even in cases where neither side of the transaction was American. A company in Zambia buying goods from Kenya could still find itself converting local…
Nigerian Households Hold Back on Homes, Cars as Cost-of-Living Pressures Persist – Credit Direct Report
Nigerian households remained reluctant to commit a significant share of their income to major purchases such as homes, cars and other consumer durables in 2025, as lingering cost-of-living pressures continued to shape spending decisions. Data from…
BMONI and Mastercard collaborate to unlock instant card access for consumers in Nigeria
AI-powered financial platform introduces Naira and US Dollar virtual and physical cards for seamless local and cross-border transactions. Mastercard and BMONI, an AI-powered financial platform focused on simplifying access to money, have announced a…