Nigeria

Africa Finance Corporation (AFC), the pan-African development finance institution, has held investor calls ahead of its first green bond issue that Swiss franc bankers expect to launch next week.

The Africa Finance Corporation, the pan-African development finance institution (DFI), has mandated a pair of banks to lead its first ever green bond issue, which it will sell publicly into the Swiss franc market.

Gillmann to join Barclays for logistics — Citi picks new Nigeria head — Charles, Habeck hired by Greensill

Ireti Samuel-Ogbu will replace Akin Dawodu as Citigroup's country officer for Nigeria.

The Nigerian National Petroleum Company has raised a financing package, backed by multilateral lenders, commercial banks and oil trading companies.

The Africa Finance Corp, the Nigeria-headquartered multilateral development bank, has issued its first Eurobond of 2020, winning three times oversubscription.

Africa Finance Corporation (AFC), the Nigeria-based multilateral development bank (MDBs), has emerged at the forefront of regional coronavirus rescue efforts, providing financing for emergency hospitals, medical aid and more. As Africa finds itself at the centre of global calls for emergency financing and debt relief, the AFC’s chief executive, Samaila Zubairu, talks to GlobalCapital about the bank’s response to the crisis, how its own fundraising plans have been affected, and the future of Chinese capital in the region.

Nigeria, Africa's largest economy, is the latest emerging market to approach international financing institutions for help to deal with Covid-19.

Stanbic IBTC Holdings, the Nigerian subsidiary of Standard Bank, has raised a loan of $150m from a consortium of international lenders, according to bankers. A number of African banks have come to market over the last 12 months, defying economic and country-specific risks to achieve attractive terms on their financing, a trend that is likely to continue.

A popular frontier market trade in Nigerian open market operations (OMOs), central bank securities, has been faltering on the back of local currency depreciation, which if deepened will force foreign market participants to consider eating into their returns with an FX hedge.

Renaissance Capital has added to its Nigerian investment banking team. The Russian bank continues to expand its offering on the African continent.

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