Nigeria: Afrinvest Capital Limited issues US$11 mln in commercial papers for local firms
Friday, 13 January 2023 17:15
The debt securities will help fund local firms outside the banking system.
Afrinvest Capital announced, Thursday (January 12), the issuance of up to NGN5 billion (US$11 million) in commercial papers, via its investment bank DLM Capital Group.
A commercial paper is a negotiable debt instrument issued in the money market to allow companies to borrow on near-market terms without going through the traditional banking system. With that instrument, DLM Capital Group will raise capital abroad and in Nigeria and make it available to local companies in a variety of sectors (agriculture, housing, transportation, infrastructure, etc.) under alternative and customized financing mechanisms.
With such an initiative, Afrinvest Capital wants to mobilize funds in the national and international markets to support socioeconomic development in Nigeria. The announced issuance is part of a larger program that aims to issue NGN20 billion in commercial papers. Let's note that this is not the first time Afrinvest is issuing such instruments to finance local firms.
Chamberline MOKO
Live News
-
Lukoil’s $22B Portfolio Sale Draws No African State Bidders Yet
19:38
-
Senegal Plans 38% Budget Increase for Agriculture in 2026
19:30
-
E.U. Delays Deforestation Law to 2026 After Member States Push Back
19:25
-
Namibia Launches First Universal Service Fund Tower to Expand Rural Connectivity
19:22
-
China overtakes EU in Cameroon’s machinery market despite EPA advantages
16:30
-
Lomé University joins new EU-backed program to tackle noncommunicable diseases
14:55
-
Togo adopts 2025–2030 plan to curb PPR and protect livestock income
14:51
-
Guinean Graduate Mamadou Alpha Baldé Lands Tech Job After Cybersecurity Certification
08:03
-
Togo Outlines AI Strategy Centered on Education and Regional Data Governance
20:36
-
Togo Advances Digital ID Program With New Enrollment Phase in Maritime Region
20:33
DRC minister visited Huawei China center to boost AI training cooperation Talks focused on launch...
DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...
China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...
Ghana to allocate $2.8B in 2026 budget for major road infrastructure push Funding targ...
Powered exclusively by Rolls-Royce Trent 7000, delivering 14 % lower fuel burn per seat and f...
Under sanction pressure, Lukoil is divesting its foreign oil assets, drawing interest from international players like the UAE's ADNOC. Yet, no African...
Senegal plans CFA427 billion ($750.7 million) in agricultural spending for 2026, up 37.88% from 2025. The increase stems mainly from new planned...
The move, which gives African cocoa and coffee producers a reprieve, was driven by internal E.U. pressure and technical delays, drawing criticism from...
Namibia inaugurated its first telecom tower financed by the Universal Service Fund (USF) to extend 4G coverage to underserved rural areas. The...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...
Singita will invest $60m to build a 60-bed lodge on Santa Carolina Island and $42m in projects across the Bazaruto Archipelago. The...