Connect with us

E-Financial

Sub Saharan African Equity Issuance Triples to $ 6.4Bn

Published

on

Keith Nichols, managing director, Africa, Thomson Reuters,
Kindly share this post

Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has released the quarterly investment banking analysis for the Sub Saharan Africa region and during the first nine months of 2014, fees for Sub Saharan African Investment Banking services totalled $118.6 million

According to estimates from Thomson Reuters/Freeman Consulting, it isan a 30% increase from the previous quarter and the highest quarterly fee total since the first quarter of 2011.

In respect to the Mergers and Acquisitions (M&A) activity, the value of announced M&A transactions involving Sub Saharan African targets reached $12.3 billion during first nine months of 2014, down 47% from the same period last year and the lowest first nine month total in the region since 2004.

Keith Nichols, managing director, Africa, Thomson Reuters, said: “Equity and equity-linked issuance in Sub Saharan Africa totalled $6.4 billion during the first nine months of 2014, more than three-times the value recorded during the same period last year and the highest first nine month total since our records began in the 1970s.”

He added: “Sub Saharan African debt issuance reached US$15.1 billion during the first nine months of 2014, an increase of 53% compared to the same period last year, and the highest first nine month total since our records began.”

Despite the strong third quarter, investment banking fees recorded in the region during the first nine months of 2014 trailed 2% behind the same period last year, at $252.6 million. Fees from equity capital markets underwriting doubled from this time last year to reach US$104.6 million, marking the highest first nine month total in the region since 2007.

Fees from advisory on completed M&A transactions also increased from the first nine months of 2013, growing 13% to $61.9 million. Debt capital markets underwriting fees totalled $36.5 million, 29% less than the same period last year, while syndicated lending fees fell 49% to $49.6 million. Citi topped the Sub Saharan African fee league table during the first nine months of 2014 with a 12% cut of the fees. Standard Bank Group and Barclays followed in second and third positions, respectively.

Speaking about the M&A activity, Mr. Nichols said: “The most targeted nation by value so far this year was South Africa, accounting for 53% of activity, followed by Angola (7.7%) and Mauritius (7.5%). The United Kingdom was the most active foreign buyer in the region. The largest deal in the region during the third quarter of 2014 was Exxaro Resources’ $472 million offer for coal mining company Total Coal South Africa.”

“Theme International Holdings’ $1.0 billion offer for oilfield exploration and production company Everest Hill Energy Group is the largest deal to be announced in the region so far this year. Boosted by these two deals, Energy & Power was the most active sector, accounting for 26% of M&A activity. Standard Bank topped the 3Q 2014 announced any Sub Saharan African involvement M&A Ranking, with $3.1 billion,” he added.

Mr. Nichols commented on the ECM activity during the first nine months of 2014. He pointed out that proceeds raised from follow-on offerings accounted for 70% of ECM activity, while initial public offerings and equity-linked issuance accounted for 17% and 13%, respectively. 84% of deals involved a South African issuer.

“The financial sector was the most active sector for equity issuance in the region, followed by retail. The largest deal so far this year was an $890 million follow-on issue from food and clothing retailer Woolworths, in September. The largest IPO so far this year was oil company Seplat Ltd’s $541 million dual listing on the London and Nigerian Stock Exchanges in April. Citi took the top spot in the Sub Saharan African Equity Capital Markets league table during the first nine months of 2014, with 16% of the market,” he noted.

Speaking about debt capital markets in Sub Saharan African, Mr. Nichols pointed out that the Kenyan government raised $2.0 billion in June, the largest bond issued in the region so far this year.

Barclays took the top spot in the Sub Saharan African Debt ranking for the first nine months of 2014 with $2.2 billion, or a 15% share. Citi and Deutsche Bank followed in second and third positions

                                                                                                                        


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Financial

First Asset Management Launches National Initiative to Raise 100m Investment-Smart Nigerians

Published

on

Kindly share this post

First Asset Management, one of Nigeria’s leading investment managers and a subsidiary of FirstHoldCo Plc, launches the 100 million Smart Inventors campaign.

Nigeria’s investment market has huge potential, yet it remains underutilised due to widespread distrust, misinformation, and past losses suffered through fraudulent schemes. Trillions of Naira have been lost, leaving many Nigerians fearful and excluded from real, rewarding investments and leaving them on the economic sidelines.

Reports show that less than 5% of adult Nigerians currently participate in the formal capital market, and as low as 0.25% invest in Mutual Funds, a stark contrast to participation rates often exceeding 50% in developed economies like the United States. This highlights the urgent need to restore trust and improve access to credible investment education.

In response to this critical challenge, First Asset Management has announced the launch of a landmark national movement, the “100 million Smart Investors Initiative”. The campaign is positioned as a direct strategy to rebuild investor confidence and democratise financial knowledge across the nation.

According to the firm, the initiative was conceived from the need to address the anxieties that have historically prevented countless Nigerians from participating in real wealth-building investments. Drawing on its track record of trust and market expertise, First Asset aims to cultivate a new generation of informed, confident investors.

At the heart of the initiative is a comprehensive investor education programme. The goal is to transform casual interest in investing into active participation within a supportive, well-informed community.

Beyond expanding investor numbers, the movement seeks to improve the quality of investment decisions by equipping individuals with the tools to evaluate opportunities and avoid fraudulent platforms.

For everyday Nigerians, the initiative promises simplified, practical financial education that demystifies investing. By building a strong peer network through a nationwide community platform, it seeks to reduce the isolation often faced by new investors and promote collective financial empowerment.

Ultimately, the 100 Million Smart Investors movement represents a significant investment in Nigeria’s human capital. By providing actionable steps, success stories, and sustained education, First Asset Management aims to usher in a new era of financial literacy and participation.

This initiative would not only enhance the financial well-being of individuals and families but also contribute to the broader economic prosperity of the nation by channelling dormant capital into productive sectors of the economy.

To kickstart this bold quest, the brand has planned a series of free educational bootcamps, podcasts and community engagement with industry experts and leaders. The inaugural event will take place live on 26 July 2025.

Follow @FirstAssetManagement on all social media handles to stay informed and visit https://first-assetmanagement.com/smart-investors for details on how to join the movement.


Kindly share this post
Continue Reading

E-Financial

PalmPay Named Among CNBC and Statista’s World Top 300 Fintech Companies 2025

Published

on

Kindly share this post

PalmPay, a leading neobank and fintech platform focused on emerging markets, has been recognised in CNBC and Statista’s 2025 Top 300 Fintech Companies in the World list. This marks the second year in a row that PalmPay has earned a place among the world’s most innovative and impactful financial technology firms.

The selection is based on a rigorous evaluation of thousands of companies globally, assessing growth, innovation, market penetration, and impact.  This year’s list includes a mix of global leaders – including Revolut, Nubank and Ant Group –  alongside rising stars from high-growth markets, underscoring the growing influence of emerging-market fintechs like PalmPay.

PalmPay’s inclusion reflects its continued momentum as one of Africa’s leading fintech platforms. With over 35 million registered users and up to 15 million transactions processed daily, the company offers a comprehensive suite of digital financial services tailored to the needs of underserved communities.

In its main market, Nigeria, PalmPay operates as a full-service neobank, offering consumer financial services such as transfers, bill payments, credit, savings, and insurance – all accessible through its user-friendly app and supported by a nationwide network of over 1 million agents and merchant partners. The company also provides POS and API-driven B2B solutions tailored to the needs of merchants and enterprise clients.

“To be recognised as one of the world’s top fintech companies by CNBC and Statista is a powerful affirmation of our mission to build a more inclusive financial system,” said Sofia Zab, Founding Chief Marketing Officer at PalmPay.

“Through cutting-edge technology, deep local distribution, and a customer-first mindset, we’ve built Nigeria’s leading neobank. As we scale PalmPay to more emerging markets, including Tanzania and Bangladesh, our focus remains on closing financial access gaps for everyday consumers and businesses, while expanding the partner ecosystem that fuels our reach and impact.”

As part of its broader expansion strategy, PalmPay recently launched in Tanzania and Bangladesh through a smartphone device financing model that serves as an entry point to digital financial services.

“PalmPay is building a neobanking platform tailored to the realities of emerging markets,” said Jiapei Yan, Group Chief Commercial Officer at PalmPay. “We are creating the infrastructure for a connected digital economy – where people and businesses can thrive through reliable, inclusive financial tools.

This recognition from CNBC and Statista affirms our progress and also the scale of the opportunity ahead. As we expand across more emerging markets, we are committed to creating lasting value for our users, partners, and the communities we serve.”

PalmPay’s inclusion follows another major recognition earlier this year: the company ranked #2 overall and #1 in the financial services sector on the Financial Times  – Africa’s Fastest-Growing Companies 2025 list. The ranking, based on revenue growth between 2020 and 2023, highlighted PalmPay’s rapid scale and market traction across Africa.

PalmPay currently operates in Nigeria, Ghana, Tanzania, and Bangladesh, and is expanding its presence across Africa and Asia through device financing, digital banking, and B2B payment services. Backed by a robust neobanking platform and a partnership-led approach, the company is committed to shaping the next chapter of inclusive financial growth.


Kindly share this post
Continue Reading

E-Financial

Fidelity Bank Champions Education in Nasarawa with CSR Project

Published

on

L-R: The Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka; Vice Principal, Government Secondary School, Aso Pada, Maraba, Mr. Abdullahi Idris; Project Co-ordinator, Elite Bankers 2025 Inductee Class, Fidelity Bank Plc, Onyinyechi Ihesiaba; Vice Principal -Academics, Government Secondary School, Aso Pada, Maraba, Mr. Ela Isa; during the commissioning of a renovated block of classrooms and the distribution of Back-to-School Materials at Government Secondary School Aso Pada, Maraba, Nassarawa State recently.
Kindly share this post

Fidelity Bank Plc has reaffirmed its commitment to quality education and youth empowerment with the renovation of a classroom block and donation of textbooks to Aso Pada Government Secondary School in Karu LGA, Nasarawa State.

L-R: The Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka; Vice Principal, Government Secondary School, Aso Pada, Maraba, Mr. Abdullahi Idris; Project Co-ordinator, Elite Bankers 2025 Inductee Class, Fidelity Bank Plc, Onyinyechi Ihesiaba; Vice Principal -Academics, Government Secondary School, Aso Pada, Maraba, Mr. Ela Isa; during the commissioning of a renovated block of classrooms and the distribution of Back-to-School Materials at Government Secondary School Aso Pada, Maraba, Nassarawa State recently.

The project was executed through the Fidelity Helping Hands Program (FHHP), a corporate social responsibility initiative that enables staff to identify community needs, raise funds, and receive matched support from the bank.

Speaking at the handover ceremony, Dr. Meksley Nwagboh, Divisional Head, Brand and Communications, said the school was chosen due to its impact on the local community and its lack of renovation in over 15 years.

Vice Principal Abdullahi Idris praised the bank’s gesture, calling it “an investment in the future of our nation,” and expressed hope for a lasting partnership.

The initiative follows Fidelity Bank’s recent donation of 1,000 solar-powered schoolbags to pupils across Ogun State, aimed at improving study conditions in areas with limited electricity.

Fidelity Bank serves over 9.1 million customers and has received multiple awards for innovation and SME support, including the 2024 Excellence in Digital Transformation Award and Best Bank for SMEs in Nigeria by Euromoney.


Kindly share this post
Continue Reading

Trending