AGP Executive Report
Last update: an hour agoBanking: Nedbank has completed its KSh110 billion takeover of East African lender NCBA, a major cross-border deal that expands its regional reach. Capital Markets: Dangote Refinery’s IPO has drawn investors from 51 African countries and more than 90 countries overall, marking a rare pan-African investment offer. Nigeria: A new 10-year capital-market plan targets N750 trillion in market value by 2036, with Finance Minister Taiwo Oyedele setting an ambition of $1 trillion; the NGX, meanwhile, fell 0.91% on Monday, wiping N1.47 trillion from market capitalisation. Credit Outlook: Fitch revised its outlooks on 11 Nigerian banks and financial institutions to positive, while South Africa’s improving finances have fuelled hopes of another credit-rating upgrade. Payments: Ethiopia has joined the Pan-African Payment and Settlement System, while Mastercard and Moovn agreed to expand digital payments across East Africa. SME Finance: CRDB Bank secured $111 million in financing deals for small businesses, and FCMB partnered with the European Investment Bank to provide €85 million for agriculture.
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