On March 27, 2014, we revised our outlook on Nigeria to negative from stable to reflect heightened political and institutional risks in the country. We do not rate any bank in Nigeria above the sovereign because of the likely direct and indirect influence sovereign distress would have on the banks’ […]
Author: InvestAdvocate
Naira steady on oil companies’ dollar sales
The naira has been steady against the dollar on the interbank market, following the sales of dollar by two major energy companies. The local currency closed at N164.95 to the United States currency on Tuesday, the same level it closed on Friday. According to Reuters, the Nigerian unit of ExxonMobil […]
Bob Diamond’s Atlas Mara Buys Bank in First Africa Purchase
Robert Diamond’s Atlas Mara Co-Nvest Ltd. (ATMA) agreed to buy ABC Holdings Ltd. and ADC African Development Corp. for as much as $265 million in the first acquisition by the investment firm of the former Barclays Plc (BARC) head. BancABC offers financial services in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe, […]
