Special Report: Download the Nairametrics’ Deals Book for Q1 2019
This report summarises some of the corporate deals that were announced in the first quarter of 2019.
WorldRemit and Paga launch international mobile money transfer service
Digital money transfer company, @WorldRemit, has partnered with Nigeria's mobile money company, @mypaga, to expand its presence in Nigeria. Get details of the partnership by clicking the link...
UPDATE: Dangote announces impending sale of Dangote Flour Mills Plc to Olam
The Board of Dangote Flour Mills Plc has notified the NSE and the investing public about the acquisition of its shares by Olam International Limited.
InfraCredit secures $15m credit facility from AfDB
Infrastructure Credit Guarantee Company (@InfraCredit) has secured a $15 million investment from the African Development Bank (@AfDB_Group). The credit facility comes in two phases.
Ex-Minister asks court to nullify Access-Diamond merger
The Securities and Exchange Commission (@SECNigeria) has been urged to nullify the merger between Access Bank (@myaccessbank) and Diamond Bank which took effect in March 2019 after the legal completion of the merger.
Seplat Petroleum and NNPC are raising $700m for gas plant
Plans to reduce dependence on oil has begun, as @NNPCgroup and @seplatpetroleum are planning to raise $700 million for a joint gas project scheduled to start production next year.
GSK Nigeria and Fidson to commence partnership in 2021
GSK Consumer Nigeria has picked Fidson Healthcare Plc as the contract manufacturer of its wellness and respiratory products effective Q3 2021
Helios acquires Oando’s stake to take full ownership of Axxela Limited
Helios Investment Partners has acquired Axxela Limited, a Sub-Saharan African gas and power portfolio company. Helios Investment had a majority stake in Axxela before Oando's decision to divest its investment in Axxela.
Dana Air to increase fleet with embattled Boeing aircraft
Nigerian airline operator, @DanaAir, has disclosed it will be taking delivery of three @Boeing -737 models in 2019 as it increases the company's fleet for operation.
Kudi to increase Bank Agents after securing $5 million in Series A funding
Digital payment Startup, Kudi, has secured a Series A funding that will enable the company fast-track its expansion across Nigeria. The company raised $5 million from several existing investors.
Jiji acquires rival, OLX, as e-commerce startups continue to divest
Nigeria's online marketplace, Jiji, has acquired its rival, OLX, in a bid to extend the company's footprint on the African continent. Though the worth of the deal was not made public, it adds to the growing list of divestment in Nigeria.
Is Air Peace’s new deal with Embraer SA an alternative to embattled Boeing?
Nigeria's airline operator, Air Peace, has signed a billion dollar deal with Brazil's plane manufacturer, Embraer SA. The deal comes at a time countries are grounding Boeing's Max model - the same model Air Peace ordered in 2018 to boost its fleet.
Mastercard offers Jumia $56m ahead of unusual IPO on NYSE
African e-commerce startup, Jumia, has received $56 million from Mastercard Europe ahead of its unusual initial public offering (IPO) on the New York Stock Exchange (NYSE) of the United States.
Sahara Group plans to acquire Total’s stakes in three African refineries
Total's stakes in refineries located in three African countries would likely become that of Nigerian energy and infrastructure conglomerate, Sahara Group, as both companies have begun the negotiation process.
Uber’s acquisition of rival, Careem, raises anti-competition concerns
Uber will drop a whopping $3.1 billion to acquire Dubai-bases Careem. But officials are not pleased with the development.
Sterling Bank signs deal with American energy company
Zola Electric claims it has studied the Nigerian electricity market and figured out a way to proffer lasting solution to the country's electricity needs.
OneFi acquires Amplify as part of its one-stop-shop drive
The acquisition will see OneFi take over Amplify’s assets, tradements, and flagship products.
Dangote Fertilizer signs major gas deal with NNPC and Chevron
Dangote Fertiliser Limited has signed gas supply agreements with the Nigerian National Petroleum Corporation and Chevron Nigeria Limited.
Intel adopts Konga into its Partner Accelerator Programme
Konga has become the first e-commerce company in Sub-Saharan Africa to be migrated to the Retail Accelerator Programme of global technology giant —Intel.
Popular NBA star Andre Iguodala joins Jumia’s board of directors
American basketball star, Andre Iguodala, has been announced as the newest members of Jumia's Board of Directors.
Hello Tractor begins expansion drive with CTA deal
Hello Tractor, a Nigerian agri-tech startup, has given its expansion drive beyond the shores of Nigeria a boost by securing a partnership with the Technical Centre for Agricultural and Rural Cooperation ACP-EU (CTA).
First E&P seals $901m deal with Malaysian firm, Yinson
Yinson, FPSO operator has entered into a multi-millionaire deal for a floating production, storage and offloading vessel to be deployed offshore Nigeria.
Facebook, MainOne romance to birth high speed internet for Ogun and Edo
Two States in Nigeria will be the recipient of a metro fiber infrastructure project that will be built in a bid to deepen broadband penetration in Nigeria and accelerate the digital transformation in these parts of the country.
Access, Diamond Bank release joint statement ahead decisive shareholders’ meeting
Ahead of its shareholders' meeting slated for the first week of March 2019, the management of Access Bank and Diamond Bank have reiterated their commitment to customers of both lenders.
Court warns against conclusion of 9mobile acquisition
The Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC) and other corporate bodies involved in the sales of Etisalat (now 9mobile) have been warned against taking further action relating to the acquisition of the telecommunications company.
AXA Mansard announces AXA, Liverpool global partnership
French multinational insurance firm, AXA, the parent company of Nigerian insurance firm, AXA Mansard, has signed a global partnership with English Premier League (EPL) club, Liverpool.
Airtel, Telkom consolidate to battle Kenya’s largest telecoms company
To compete better against the dominance of telecommunications company, Safaricom, in Kenya, the local unit of Bharti Airtel Limited has entered into a consolidation agreement with Telkom Kenya Ltd, which is owned by Helios Investment Partners LLP.
Nigerian start-ups lead $334.5 million fund race in Africa
Nigerian start-ups lead other African businesses in investment attraction, Disrupt Africa revealed in a report that estimated 210 African start-ups secured $334.5 million worth of investments in 2018.
Unilever acquires British snack company, Graze
Unilever has acquired snacks company, Graze, from Carlyle’s European technology fund, seeing off interest from competing bidders including Kellogg and Pepsico, the owner of Walker’s Crisps, to clinch the deal.
NDEP Plc takes up stake in Consolidated Hallmark Insurance Plc.
Excerpts from the NSE X Compliance report for the trading week ended February 1, 2019, show that Niger Delta Exploration Plc, an upstream oil firm may...
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Canada invited 3,357 Express Entry Candidates with scores as low as 300
Canadian province, Alberta, has issued a total of 3,357 invitations to apply for a provincial nomination for Canadian Permanent Residency (PR) to Express Entry candidates with Comprehensive Ranking System scores as low as 300.
Purported EFCC raid on MTN Nigeria head office might be false
There were wild media reports, late Friday night, purporting that the Economic and Financial Crimes Commission (@officialEFCC) raided the head office of @MTNNG. This might be wrong.
Daily Update: T-Bills Market turns bearish as CBN resumes OMO sales
Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest.