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WEMA BANK
In response to the ongoing #EndBadGovernance protests, some banks in Nigeria have implemented remote work policies for their employees.
The Nigerian Exchange Limited has admitted Wema Bank Plc’s Rights Issue of 8.572 billion ordinary Shares of 50 Kobo each at N4.66 per Share on the Daily Official List of NGX.
Wema Bank ALAT has successfully concluded the first tranche of its recapitalisation exercise having secured all relevant regulatory approvals for the allotment of its N40bn Rights Issue which was initiated in December 2023.
TLG Capital, a leading alternative investment firm, has announced a US$ 10 million structured private credit facility designated for climate financing for one of Nigeria’s largest aluminum recyclers.
Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has officially launched CoopHub, a new digital solution for Cooperative Societies.
The company also plans to increase its issued paid-up share capital from N6.429 billion to N25 billion by creating an additional 37.14 billion ordinary shares, each valued at 50 kobo, which will have equal rights with the existing shares.
Financial inclusion is increasingly recognized as a cornerstone of economic development and social equality.
In anticipation of a potential forthcoming rights issue by Wema Bank Plc, the Oyo State Government has allocated a sum of N691.3 million for investment in such an endeavour by the bank.
Wema Bank says it will award the best innovators in Africa the sum of N70 million through its startup-focused tech competition, Hackaholics.
Wema Bank has announced the Call for Entries in the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics.
Wema Bank emerged as the top profitable companies in Nigeria in 2023, largely propelled by a substantial increase in foreign exchange gains during that period.
Wema Bank has reported a profit before tax of N43.64 billion for the year ended 31 December 2023.