Finance

Nigeria's private sector growth hits a two-year high

stanbic ibtc bank nigeria pmi chartAccording to Stanbic IBTC Bank, July’s PMI survey signaled the sharpest overall improvement of business conditions in the Nigerian private sector for two years, as the economy extended the upturn seen throughout 2017

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A.P. Moller Holding to manage new African infrastructure fund

APMC.JPGThe new fund will focus on investments in infrastructure in Africa to support sustainable economic growth in the region while delivering an attractive return to its investors

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Earthport partner Access Bank to expand into Nigeria, enabling inbound payments

1 1204463487cJKyEarthport, the leading payment network for cross-border transactions, has announced that it has partnered with Access Bank Plc, one of Africa's foremost financial institutions, to provide delivery of cross-border payment services into Nigeria


Access Bank Plc is one of Nigeria’s leading financial institutions and has a strong focus on servicing the Nigerian diaspora.

This new payment channel has been created in direct response to the need for more effective servicing of remittances and low-value payments sourced from outside the country, which now total an estimated US$19bn per year, representing 4.7 per cent of the country’s GDP2.

The partnership is part of Earthport’s longer term strategy of expansion into the African continent.

Commenting on the partnership, Victor Etuokwu, Executive Director, Access Bank Plc, Nigeria, said: “It is with great pleasure that Access Bank Plc is partnering with Earthport Plc, a reputable global payment network, to meet the needs of our customers who require a sound and reliable international payment platform. As a top player in the remittance industry in Nigeria, our wide branch network and large customer base will be invaluable to this partnership and we are confident that this relationship will be a mutually beneficial one to both parties. This alliance also supports the Bank’s vision of being ‘the world’s most respected African Bank’ and our mantra of speed, service and security.” 

Hank Uberoi, Chief Executive Officer, Earthport Plc, commented: “We are delighted to be partnering with Access Bank to extend our global payment network into Nigeria, which is undergoing a rapid transformation. With this comes a growing demand for efficient cross-border payment services, which Earthport will deliver to this important market, together with innovative solutions for financial inclusion. This is also a significant step in the expansion of Earthport’s global footprint.”

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United Capital releases its outlook for Nigeria in 2017

4711018977 622fe4dee0 bUnited Capital has released its Nigeria Outlook H2-2017 entitled After The Rain, released in July 2017. The full report can be viewed here

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Nigeria Technical Cooperation Fund celebrates first ten years

csm Ntcf cover pic a3ccb2940bThe Directorate of Technical Cooperation in Africa (DTCA) of Nigeria’s Ministry of Foreign Affairs and the African Development Bank (AfDB) celebrated the completion of the first life cycle of the Nigeria Technical Co-operation Fund (NTCF) in a ceremony in Abuja on 1 August 2017

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