The FirstGem fund (FirstGem loan) is a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country. The loan scheme covers female-owned or partnered SMEs in various sectors of the…
AFC approves $230m(82billion Naira) loan for 9mobile
Efforts by the new Board and Management of Emerging Markets Telecommunication Services Limited(EMTS), trading as 9mobile, to reposition the company have started yielding positive results as the Africa Finance Corporation (AFC), has approved a $230 million loan facility to help it…
World Bank becomes Nigeria’s single largest creditor as loan increases
The loan portfolio of The World Bank under the President Muhammadu Buhari-led administration has increased by 29.98 percent, a Debt Management Office (DMO) statistics showed. According to the DMO statistic, World Bank’s credit facility to Nigeria peaked at $8.67 billion in 2018, increasing from $6.67 billion in 2016. This makes the World Bank Nigeria’s single…
FEC approves $200m loan to finance electrification project
The Federal Executive Council has approved the request to obtain a loan of $150m from the African Development Bank to finance the Nigerian Electrification Project. The Minister of Finance, Zainab Ahmed, disclosed this at the end of the meeting of…
Branch International Secures $170m Financing
Branch, a quick loan application platform and one of the most downloaded finance app in Africa, has announced a new global partnership and investment from Visa. Also, the company yesterday announced the close of its Series C financing, a $…
CBN To Issue Loans At 5% To SMEs Through NIRSAL MFB
The Central Bank of Nigeria (CBN), says it will issue loans at five per cent and with no collateral to Small and Medium Enterprises (SMEs) through the NIRSAL Micro Finance Bank (MFB). The CBN Governor, Mr Godwin Emefiele, said this…
Diamond Bank Introduces PayDay Loan
As part of its merger benefits to customers, Diamond Bank has introduced PayDay Loan to ease the financial burden of customers. PayDay Loan is an instant salary advance service available to all customers who have their salary accounts in Diamond…