(Image source: Stanbic IBTC Bank/IHS Markit)
According 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
From left: Peter Damgaard Jensen, CEO of PKA; Kim Fejfer, Managing Partner and CEO of A.P. Moller Capital; Torben Möger Pedersen, CEO of PensionDanmark; Chresten Dengsøe, CEO of Lægernes Pension, Robert Mærsk Uggla, CEO of A.P. Moller Holding. (Image source: A.P. Moller Holding)
The 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, the leading payment network for cross-border transactions, has announced that it has partnered with Access Bank Plc, one of Africas 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 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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The 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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SSAB will begin deliveries of the new products in 2026.
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The Msikaba Bridge has anchor blocks 17 m wide which contain around 21,000 tons of concrete. (Image source: Sanral)
