Access Holdings Plc’s first quarter interest income grew up by 56.6 per cent as the lender continues to utilise shareholders’ resources in generating higher profit given successive increases in interest rates by the country’s apex bank. According to findings by BusinessDay, Interest income calculated using effective interest rate increased to N250.98 billion in March 2023 […]

read more Access Holdings’ interest income jumps by 56% to N250bn

42Markets Group, a financial and capital markets fintech investment group, has secured $10 million in growth funding from Convergence Partners, a leading private equity investor dedicated to the technology sector across sub-Saharan Africa after it recently closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million. Andries Brink, 42Markets Group CEO states, “This is […]

read more Group secures $10m capital injection from Convergence Partners, others

At the end of its fiscal year 2022, Purple Real Estate Income Plc, popularly known as the Purple Group, reported gross earnings of N20.2 billion, an increase of 385.4 percent from N4.2 billion recorded during the same period in 2021. Net revenue stood at N2.4 billion, an increase of 36.5 percent year-on-year over N1.8 billion […]

read more Purple Group reports 385.4% growth in gross earnings

United Bank for Africa (UBA) reported a profit surge of 29.1 per cent in the three months to March, profiting from a series of rate hikes by the Central Bank of Nigeria that helped strengthen interest income and boost the bottom line. The pan-African lender saw interest income accelerate by more than half to N191.9 […]

read more UBA’s quarterly profit rises 29% to N53bn on rate hikes

The allocation of N30 billion by the Federal Government in the 2023 Appropriations Bill for the installation of surveillance systems along the Abuja-Kaduna rail line has provoked fresh concerns among transport experts. According to the experts, the budget excludes other rail tracks across the country that are also prone to attacks by dangerous elements in […]

read more Concerns as N30bn Abuja-Kaduna rail security project omits other stations