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Daily Business News Brief – July 14th, 2023

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July 14, 2023
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Wema, Fidelity, Stanbic, others push stock market to new low – Businessday
Nigeria’s equities market decreased further on Thursday by 2.03 percent or N707 billion as investors continued to take profit on recent gainers, especially banking stocks.
Investors were seen selling stocks like Stanbic IBTC Holdings, Fidelity Bank, and Wema Bank. These stocks led the market’s league of laggards.. … . ……………… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More

Dangote Cement plans new plants in Nigeria, Ghana, others – Punch
Dangote Cement says it has concluded plans to expand its production capacity through the construction of a six new metric tonnes integrated cement plant in Itori, Ogun State.
The company, in a statement, said it would soon deploy grinding plants in Ghana and Cote d’Ivoire to ensure cement became available in all African countries……… .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Access Bank completes acquisition of Angolan’s Finibanco – Punch
Access Bank Plc, the flagship subsidiary of Access Holdings, has completed its acquisition of majority equity in Angolan entity, Finibanco Angola S.A.
This was revealed in a notice filed on the Nigerian Exchange Limited on Thursday.
Access Holdings had earlier announced the deal on October 4, 2022, and had received regulatory approvals in Nigeria and Angola………… .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

FMN establishes strong financial position through high credit rating – Guardian
Flour Mill of Nigeria Plc (FMN) has established a strong financial position through excellent credit ratings and records. The group tapped into the market for its Series 3 Commercial Paper to raise funds to meet its working capital requirements in June 2023.
The Series 3 was launched on June 23, 2023 to resounding feedback from the investing public… ………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Emerging Africa eyes listing on NGX – Punch
An investment firm, Emerging Africa, has said that it plans to be listed on the Nigerian Exchange Limited to enhance its credibility in the Nigerian capital market and boost offerings to customers.
The company’s Founder/Chief Executive Officer, Mrs Toyin Sanni, disclosed this as the firm marked its 5th anniversary in Lagos……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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