Businessday NG

Low coverage, access, literacy hold Nigeria’s pension system down

Modestus Anaesoronye — Wed, 26 Apr 2023 09:06:34 +0000

Nigeria’s pension system despite the country’s huge population has ranked low after a global ranking due to low coverage, access to financial services and financial literacy. Allianz in its second edition Global Pension Report launched recently which analyzes 75 pension systems around the globe using its proprietary Allianz Pension Index (API), says with an overall […]

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

Olamide Ologunagbe — Wed, 26 Apr 2023 08:58:04 +0000

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 […]

Sanlam General Insurance records N11.4bn gross written premium

Modestus Anaesoronye — Wed, 26 Apr 2023 08:51:33 +0000

According to the company’s latest financial report, Sanlam General Insurance Nigeria Limited posted a Gross Premium Written (GPW) of N11.4 billion and paid N3.1 billion in claims in 2022. This feat according to the company marks another successful year for Sanlam which rebranded from FBN General Insurance Limited in September 2022. Since the divestiture of […]

Otedola confirms acquisition of 5.52% stake in Transcorp

Oladehinde Oladipo — Wed, 26 Apr 2023 08:40:22 +0000

Femi Otedola, the chairman of Geregu Power, has confirmed his acquisition of a 5.52 per cent stake in Transcorp Plc. The development makes the billionaire businessman the second largest shareholder of the company. Recently, there have been reports that the acquisition was consummated between an entity owned by Otedola and the Asset Management Corporation of […]

Flutterwave, Yemi Edun Nominated for 2023 African Banker Awards

Chinedu Ndigwe — Wed, 26 Apr 2023 08:33:13 +0000

Flutterwave, Africa’s leading payment technology company, and Yemisi Edun, managing director, FCMB, have been nominated for this year’s African Banker Awards, which is taking place on May 24 in Sharm El Sheikh, Egypt, and a part of the official programme of the African Development Bank (AfDB) Annual Meetings. Since its inception in 2007, the African […]