Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated ever Sukuk issuance from an African institution. Following high levels of investor interest, the initial target of US$100 million was more than twice oversubscribed, resulting in the transaction being upsized to US$150 million and a final order book of …

Indications have emerged that the MTN Group will not list the shares of its Nigerian unit on the Nigerian Stock Exchange (NSE) in 2017. This was made known by the Chief Executive Officer, Phuthuma Nhleko, at the annual meeting of the World Economic Forum in Davos, Switzerland. “We see ourselves as a partner to governments in Africa because it is …

The Minister of Transportation, Mr. Rotimi Amaechi has stated that the Federal Government had released N72bn as its counterpart funds for the construction of the Lagos-Ibadan standard gauge railway line. The minister on Monday, made this disclosure at the Second Presidential Business Forum, which was presided over by Vice President Yemi Osinbajo at the old Banquet Hall of the Presidential …