Verod Capital sweeps three African PE awards

Verod Capital Management, a West African private equity firm has cleared three awards at the Private Equity Africa (PEA) Awards 2020. Founded in 2008 as an investment boutique operating out of the western region of Africa, Verod was recognised by PEA as the regional investor of the year- West Africa, the best social impact deal……

SON moves to cease registration of cloned brands

Concerns about how cloned brands are taking a huge chunk of market share and equity from original manufacturers, the Standards Organisation of Nigeria (SON) had read the riot act to promoters of cloned brands in a bid to check fake and substandard goods in the country. The Director-General, SON, Farouk Salim, explained over the weekend……

GTBank reports profit before tax of N167.4bn in Q3

Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2020 to the Nigerian and London Stock Exchanges. The third quarter (Q3) result shows improved performance across key financial metrics, reaffirming the Bank’s capability to navigate the current economic challenges occasioned by impact of COVID 19 on World economies…….

VFD partners with eBanqo to implement banking chatbot across messaging platforms

Nigeria’s leading digital bank, VFD, has deployed Bolanle, an AI-powered digital assistant, to support customers in banking transactions across Facebook, WhatsApp and Twitter. In less than two minutes, Bolanle can set up a new account with zero paperwork, transfer funds, pay bills, and perform cardless ATM withdrawals among other functions. The introduction of this chat……

N69.4bn debt: AMCON takes over Jimoh Ibrahim’s prime assets in Abuja, Lagos

Asset Management Corporation of Nigeria (AMCON) on Wednesday said it has taken possession of 12 prime assets belonging to billionaire businessman Jimoh Ibrahim, chairman of Global Fleet Companies and NICON Investment Limited over an indebtedness of N69.4 billion, following the order of Justice Riliwan Aikawa of the Federal High Court, Lagos Division. AMCON took effective……

Afreximbank records $217.06m net income in 9M’20

Notwithstanding the impact of the pandemic, African Export-Import Bank (Afreximbank) recorded a net income amounting to $217.06 million (2019: $225.36 million) for the nine months ended 30 September 2020, showing a slight decrease compared to last year, the Bank said on Monday in Cairo. Net interest income for the nine months grew by 16 percent……