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
-
Togo aquaponics startup turns to soilless farming to face climate risks
14:02
-
Inclusive employment in Africa improves but remains marginal
13:51
-
Senegal updates media watchdog to include digital platforms
13:34
-
Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region
13:19
-
Cameroon ties passports, vehicle titles to tax compliance in 2026 budget
10:57
-
Cameroon cuts forestry taxes to promote sustainable logging
10:49
-
Togo Opens Professional Master’s Programs at Atakpamé Teacher Training College
05:15
-
Morocco Uses Satellite and RFID to Monitor Fishing Vessels
05:11
-
Senegal to Replace CNRA With New Digital-Age Media Regulator
05:00
-
Togo Ranks as West Africa’s Top Business Climate Performer in B-Ready 2025
04:54
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Collaborative programs are emerging across Africa to promote inclusive employment Public, private, and international actors are increasingly...
Cabinet approves bill creating the National Media Regulation Council New body replaces the audiovisual regulator set up in 2006 Reform expands...
This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights limits in malaria control efforts. Surveillance against...
2026 budget introduces a 25%–35% cut in the annual forestry fee Incentive targets certified operators to curb illegal logging Past underreporting cost...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...