The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.
Vodacom Business Nigeria and Intelsat sign agreement to expand broadband connectivity throughout West Africa
Intelsat S.A, operator of the world’s first Globalized Network and a player in integrated satellite solutions, has announced that Vodacom Business Nigeria has signed an agreement for satellite services to expand its enterprise broadband networks.
MTN Nigeria and Huawei have completed commercial deployment of the RuralStar 2.0 solution. The project provides low-cost long-distance voice and mobile broadband services for remote rural areas in Nigeria, helping to connect the unconnected.
Islamic Corporation for the Development of Private sector signs financing agreements with SunTrust and Wema Banks
The Islamic Corporation for the Development of the Private sector (ICD) and Jaiz Bank, SunTrust Bank and Wema Bank have signed a Line of financing agreements for a $20 million, $10 million and $20 million respectively.
Nigeria’s economy is exiting a painful recession, but policy implementation needs to move quickly and comprehensively to facilitate economic recovery and help the country reap its longer-term potential.
StartCredits is a Nigerian financial technology startup that is redefining borrowing by offering competitive terms that reduce interest rates while advancing transparency.
Intertek renews contract with Nigeria for its Standards Organisation of Nigeria Conformity Assessment Program
Intertek, a Total Quality Assurance provider to industries worldwide, has extended its contract with the Standards Organisation of Nigeria to continue to manage its Conformity Assessment Program for exports to the country.
Mastercard has partnered with Vconnect, Africa’s leading online business listing service, to empower Micro, Small, Medium Enterprises (MSMEs) as part of a shared commitment to drive financial inclusion and literacy in Africa.
Flywire, a provider of global payment and receivables solutions for education, healthcare, and business has partnered with Flutterwave, a payments API that makes it easier for banks and businesses to process payments across Africa.
As Nigeria exits the recession of 2017, investor sentiment across West Africa is likely to experience uplift in 2018. Still, political uncertainty ahead of Nigeria’s 2019 presidential elections and on-going security concerns are among the key risks for businesses operating in the region.