 * Interbank rates spike by 7 percentage points * No visible effect on naira (Recasts with details, background) Nigeria’s central bank removed an estimated 1 trillion naira ($6.27 bln) from the banking system on Wednesday, causing interbank lending rates to spike by 7 percentage points from Tuesday’s close, but […]
Tag: InvestAdvocate
Actis buys South Africa payment and card firm for $95 million
 Private equity firm Actis has agreed to buy the payments and ATM business of South Africa’s Transaction Capital (TCPJ.J) for $95 million, targeting the growth of debit cards and electronic payments among millions of low-income shoppers. Actis, a London-based firm focused on emerging markets, will pay 937 million rand […]
African Prudential Completes Acquisition of a 100% Stake in UAC Registrars
By InvestAdvocate Lagos (INVESTADVOCATE)-African Prudential Registrars and UAC of Nigeria Plc wednesday announced the acquisition a 100 percent (100%) stake in the latter. Both firms in a notice to the Nigerian Stock Exchange (NSE) said that they have received a “No Objection†from the Securities & Exchange Commission (SEC) in […]
