Banking Infrastructure & Capital Projects Investments/Capital Market Latest News

AFC Issues $500Mn Eurobond For General Corporate Services

Africa Finance Corporation (AFC), Africa’s infrastructure financing organisation, has issued a $500 million 10-Year Eurobond for general corporate services. The Corporation in a statement indicated that the “senior, unsecured Eurobond, which carries a coupon of 3.75 percent, was priced to yield 3.895 percent for a tenor of 10 years, being  the longest tenor bond issued […]

Banking Economy News Extra Infrastructure & Capital Projects Investments/Capital Market Latest News Political Economy

Board Of Governors Approves New $115Bn Capital For AfDB

Governors of the African Development Bank, representing shareholders from 80 countries, approved a landmark $115 billion increase in capital for the continent’s foremost financial institution at an extraordinary shareholders’ meeting held Thursday in Abidjan,.the Ivory Coast capital. The capital increase, the largest in the history of the development finance institution since its establishment in 1964, demonstrated […]

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Ajaokuta Project Will Be Completed Within Two Years – Minister

Despite some challenges it is facing of the revitalization of the multi-billion Naira Ajaokuta steel project, the Federal Government on Friday said that ongoing reactivation of  the project would be completed within the next two years. The Minister of Mines and Steel Development, Olamilekan Adegbite, set this timely for the re-opening of the moribund plant […]

Budgeting Economy News Extra Infrastructure & Capital Projects Latest News

High Personnel Cost In Budgetary Provisions Not Desirable – Ahmed

The Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, on Thursday described the huge sum of N3.3 trillion personnel cost provision in the 2020 Appropriation Bill as undesirable for nation’s development when compared to the N2.1 trillion voted for capital projects. Ahmed, who expressed this feeling during her defence of the ministry’s […]