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
-
BNP Paribas Enters Exclusive Talks to Sell BMCI Stake to Holmarcom
16:11
-
Burkina Faso–Morocco Commission Yields Twelve Bilateral Agreements
16:08
-
Tône 1 Commune Lays Groundwork for Decade-Long Waste Management Plan
16:00
-
France, Togo Launch CFA620M Local Governance Project
15:52
-
Togo Inflation Falls to 0.5% in November, Stays Below Regional Cap
15:39
-
EBID, Colombia Sign Cooperation Agreement During Pan-African Congress
15:25
-
Côte d’Ivoire Plans Training, Internship Placements For 152,000+ Youth In 2026
14:55
-
With AI, Hassan Arslan Turns Meetings Into Verifiable Data
14:19
-
Algeria Launches Digital System to Overhaul Hospital Transfer Process
14:16
-
Mauritius to Apply 15% VAT on Foreign Digital Services From 2026
14:12
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Burkina Faso and Morocco signed 12 legal instruments during the fifth session of their Joint Cooperation Commission. The agreements span key...
Côte d’Ivoire launches fourth PNSAR to boost youth employability Programme targets 152,237 youths with $47 million budget Internships,...
Mauritius will require foreign digital service providers to charge and remit 15% VAT from 1 January 2026. Companies earning more than MUR 3...
Kenya signed an MoU with the International Water Management Institute (IWMI) to expand and modernize irrigation systems. The 10-year National...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...