Africa Finance Daily

Nigeria to raise N138bn in treasury bills, interbank rates up
Moment Nigerian Newspapers
NIGERIA plans to issue N137.97 billion in treasury bills ranging from 3-month to 1-year maturities at its regular bi-monthly debt auction on June 7, the Central Bank of Nigeria has said. By Babatunde Oso NIGERIA plans to issue N137.97 billion in …

Nigeria still a huge market for Travelex – Peter Jackson
BusinessDay
In addition, it has a well developed aviation industry, but when you talk about financing, Nigeria has got it. If Nigeria could develop its aviation industry to the level of South Africa’s, the opportunities would be tremendous. Nigeria is doing well, …

AfDB: Infrastructure Deficit in Nigeria, Others Hit $90bn
THISDAY Live
By Kunle Aderinokun The African Development Bank (AfDB) has put infrastructure funding deficit in Nigeria and other African countries at $90 billion per year, and total commitment at $55.9 billion, last year. AfDB’s Director, Gilbert Mbesherubusa, …

CBN cashless policy benchmarks Nigeria’s economy in Africa – MasterCard
Vanguard
BY PROVIDENCE OBUH MasterCard Worldwide has said that the Central Bank of Nigeria’s (CBN) Cash-less Nigeria initiative will set the standard for economies across Africa and globally. According to a report made available to Vanguard by Mastercard’s, …

FDI inflow to Africa grows by 27% – Ernst & Young
Vanguard
By PETER EGWUATU Ernst &Young (EY) has decried the wrong impression of some investors about investment climate in Africa, even as Foreign Direct Investment (FDI) projects on the continent grew by 27 per cent from 2010 to 2011.

W’Bank Bemoans Low Level of Intra-trade in Africa
THISDAY Live
By Obinna Chima The World Bank has expressed concern over the low level of trade among countries in Africa, even as it described the situation as a ‘self inflicted wound.’ The Washington-based institution insisted that improving trade among nations in …

In Nigeria, Rising Dreams of Web Commerce
Wall Street Journal
A third of Nigeria’s 167 million people already have entered the middle class. And they are spending nearly half their monthly income on electronics, including toasters, microwaves and DVD players, according to investment bank Renaissance Capital.

Nigeria needs value added production, not import substitution
Vanguard
Rice and cassava farming in Nigeria today is constrained by access to finance and the small holding nature of the farmers as well as the traditional technology applied to farming. Besides, the land tenure system and its availability make commercial …

NSE: Declining trend persists, as investment value dips by N86bn
Vanguard
By MICHAEL EBOH & CHINEDU IBEABUCHI A significant decline was re corded in investment value on the Nigerian Stock Exchange, last week, as the market capitalization of listed equities dipped by N85.625 billion. Specifically, the market capitalization, …

Africa nations warned on bond risks as Europe slumps
The Nation Newspaper
By Taofik Salako 4 minutes ago African nations that plan to sell a record amount ofeurobonds in the next two years risk higher debt costs as the European debt crisis worsens, threatening economic stability, according to the African Development Bank …

African exchanges embrace ETFs
Financial News
There have been more ETFs launched in Africa this year than in all of last year; it is truly booming.” ETFs allow investors to simplify their investment portfolio strategies by giving them exposure to a specific sector or asset class and, notably, …

Zimbabwe gets lift from weak Rand
New Zimbabwe.com
by City Press AS the South African currency slumped to a six-month low against major currencies, among them the United States Dollar this week, Zimbabweans breathed a sigh of relief over the weakening rand – ecstatic that they would get more rands for …

Sierra Leone engages China-Africa Development Fund on potential investment …
Sierra Express Media
Sierra Leone’s Ambassador to the People’s Republic of China has commenced talks with the China-Africa Development Fund (CADFund) to look at areas of possible investment in Sierra Leone, given the strong diplomatic and friendship relation that has been …

World Bank grants $90m for Abidjan-Lagos project to ease trade barriers in …
Spyghana.com
The Abidjan-Lagos Trade and Transport Facilitation Project in Cote d’Ivoire is the second phase of a regional programme including Ghana, Togo and Benin. It will finance trade and transport facilitation activities along the 130 kilometer coastal …

Turkey to strengthen aviation business transactions with Africa
Spyghana.com
This was contained in a statement released by the Ghana civil aviation authority (GCAA) in Accra on Friday. Mr. Yildrim said relationships with African countries had been re-built on justice, tolerance and principles of mutual gain adding that Turkey, …

Investment: Nigeria woos Luxemburg
BusinessDay
Sambo told the deputy prime minister that Nigeria had potential for rapid returns on investments. The statement quoted the vice-president as saying that areas of investment included power, transportation, agriculture, health, education, finance, …

Post Colonial Development in Africa
Foreign Policy Journal
Those that leave their country find it more profitable to be taxi drivers in Europe than to be Professional workers in Africa. So, education is not valued, nor are there returns on investment for the youth that are lucky enough to receive an education