Monthly Archives: October 2023

Uncertainty over global oil, gas markers as Gaza conflict escalates

The cloud over the energy markets is ominously dark as the Gaza conflict escalates, particularly as fighting increases with Iran-backed Hezbollah in Lebanon over the weekend.

Naira to reach ‘fair value’ of N750/$ by year-end 2023 – FG

The Federal Government (FG) is planning to introduce new foreign exchange rules — including a crackdown on illegal currency trading — that it hopes will result in the naira closing its more-than-45 per cent gap with the unofficial rate and reaching a “fair price” by year-end, a top official said.

SSA M&A transactions down 58% to $ 14.2bn in Q3’23, lowest in 19 years

The value of Mergers & Acquisition (M&A) transactions with Sub-Saharan African (SSA) involvement reached $14.2 billion during the first nine months of 2023, a 58 per cent decline compared to year ago levels and the lowest first nine months total since 2004. The number of Sub-Saharan African deals declined 21 per cent compared to a year ago, a ten-year low.

UBA Drives Sustainable Investments in Lifestyle, Entertainment, Empowers Africa’s Creative Entrepreneurs

Africa’s Global Bank, United Bank for Africa (UBA), has pledged to continue to be at the forefront of empowering the creative industry across the continent.
The Group Deputy Managing Director, Muyiwa Akinyemi who said this noted that with the Bank’s visionary commitment towards nurturing and promoting talent, UBA continues to make significant investment in the creative sector, such as its lifestyle and entertainment channels, REDTV and REDRadio.

Transcorp Hotels delivers impressive Q3 financial performance, sustains growth momentum with 62% profit growth

Transcorp Hotels PLC, the hospitality subsidiary of Transcorp Group has announced its financial performance for the third quarter of 2023, showing a strong year-on-year growth on all indices.

Nigeria seeks to tighten rules to curb raw mineral exports

Nigeria plans to tighten rules to reduce the export of raw minerals and encourage the shipment of processed products, a move aimed at creating jobs and boosting the value of its exports.

Plans to acquire BP, Shell recedes as Chevron, Exxon Mobil eyes American firms

The prospect of Exxon Mobil or Chevron buying European majors has receded after the two leading U.S. oil companies announced major acquisitions focused on the Americas this month, investors said.
Speculation that Chevron and Exxon might try to buy rivals BP and Shell intensified over the last two years as the European majors underperformed their U.S. rivals.

We are proud of Dangote- President Tinubu

The Dangote Group yesterday received a significant accolade from President Bola Ahmed Tinubu, who expressed Government’s position over the company’s numerous strides in Nigeria and across Africa.

Dangote Industries Limited, Cement, and other BUs prepare big for Sustainability week

Dangote Industries Limited (DIL), and its subsidiaries are preparing very big for the sustainability week, which starts effectively from Monday 23rd to Friday 27th October 2023
The theme for the year 2023 is Sustainable Production and Consumption – The Dangote Way.

Houston, Texas gears up for Fidelity Bank’s FITCC Trade Expo

All is now set for the Fidelity International Trade and Creative Connect (FITCC) billed for Houston, Texas in the United States of America.