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AfDB’s Board Approves $5Mn For Clean Cooking Projects In Africa

The African Development Bank’s (AfDB’s) Board of Directors has approved a $5 million investment in the SPARK+ Africa Fund to deliver clean cooking solutions to over two million households across Africa. The continental development finance institution’s investment in the project will be complemented by an additional €10 million by the European Commission’s contribution. The Bank’s […]

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NAICOM To Introduce Micro Takaful Insurance In Kano

The National Insurance Commission (NAICOM) on Wednesday hinted that plans were ongoing to introduce micro takaful insurance in Kano State as a means of providing an accepted and accessible insurance system for the largely Muslim populace in the state. The industry regulator’s Head of the Microinsurance Unit, Hajia Aisha Bashir, made the disclosure at a […]

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Fitch Rates ARC Ltd IFS ‘BBB+’ with Stable Outlook

Fitch Ratings has assigned African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of the African Risk Capacity Group (ARC Group), an ‘Insurer Financial Strength (IFS) Rating of ‘BBB+’ and a ‘Long-Term Issuer Default Rating (IDR) of ‘BBB’ with a stable outlook. Announcing the rating on its website, the global financial rating firm indicated that […]

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ARC, Pula Partner To Enhance Agric Index Insurance Products For Farmers

The African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of African Risk Capacity Group (ARC Group), has announced a partnership agreement with Insuretech Pula to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks. The pact was partly sealed based on the lingering challenges facing African farmers every farming season, […]

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SEC Announces Removal Of Multiple Accounts Regularisation Deadline

The Securities and Exchange Commission (SEC) has removed the regularisation deadline earlier set for shareholders that opened accounts for the purchase of shares with different names to regularise them. The removal of the deadline, which was confirmed in a statement by the commission issued on Sunday, was part of the outcome of the third Capital […]

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NSIA Reports N68.3Bn Profit, To Get New $250Mn Support

The Nigeria Sovereign Investment Authority (NSIA) on Thursday disclosed that it posted N68.3 billion as profit from January 2018 to June 30 this year from its various investment activities. The Managing Director of state-owned investment authority, Mr Uche Orji, who made the disclosure at the end of the National Economic Council (NEC), meeting held in […]

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We Have Zero Tolerance For Corruption In Our Operations – NDIC Boss

The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Mr Umaru Ibrahim, has restated the corporation’s zero tolerance for corruption and all forms of malpractices in the implementation of its mandate and activities. Giving the assurance during the inauguration of four new members to the corporation’s Anti-Corruption and Transparency Unit (ACTU) by the Chairman of […]

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NAICOM Boss Tasks Insurers On Customer Satisfaction, Professionalism

The National Insurance Commission (NAICOM) has charged operators in the nation’s risk underwriting sector to prioritise improved service delivery as a strategic option of satisfying customers and by implication, grow the industry and improve its contributions to the Gross Domestic Product (GDP). The Acting Commissioner for Insurance, Mr. Sunday Thomas, gave the charge in his […]

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Insurance Stakeholders Seek Extension Of Recapitalization Deadline For Firms

With just about eight months to the dealine set by the National Insurance Commission (NAICOM) for all insurance companiesin the country to recapitalizeor forfeit their licences, some shareholders in the entities are seeking an extension of the June 2020 date based on their findings as to the state of the financial capacity of the risk […]