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NGX Group, BPE, NIPC Collaborate to Host Investors’ Webinar

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Nigerian Exchange Limited - Investors King

Nigerian Exchange Group (NGX Group) Plc was pleased to collaborate with the Bureau of Public Enterprises and the Nigerian Investment Promotion Commission to host an investors’ webinar on Tuesday, 13 July 2021. The event was headlined by the Vice President, Federal Republic of Nigeria, and Chairman of the National Council on Privatization Professor Yemi Osinbajo, GCON.

Speaking at the event, His Excellency, Professor Osinbajo said, “The Federal Government of Nigeria is strongly committed to commercialistion and privatisation as an approach to national economic development and we consider it an important duty to create the enabling environment for the required and much-needed investment input. Past sector reforms in Nigeria have led to increased opportunities and extensive economic and social gains, including in the pension scheme, telecommunications, port, and power sectors and we look forward to reaping further gains in this regard.”

At this event, the Group Chief Executive Officer, NGX Group Plc, Mr. Oscar N. Onyema, OON, gave a presentation on unlocking investment opportunities in Nigeria through privatization, where he sounded the call for public and private sector players to work together to support Nigeria’s economic reform programmes. He also highlighted the role of NGX Group, stating, “At NGX Group, we are keen to support both public and private sectors to achieve greater success in resource optimization. We are also actively involved in contributing to policy formulation and advocacy to ensure that entities can thrive within an enabling environment.”

Also featured at the event were Director General, Bureau of Public Enterprises, Alex A. Okoh; Honourable Minister of Finance, Budget and National Planning, Dr. (Mrs) Zainab Shamsuna Ahmed; Honourable Minister of Water Resources, Mr. Suleiman Adamu; Director, Energy, Bureau of Public Enterprises, Mr. Yunana Malo; Director, Infrastructure & Public Private Partnership, Bureau of Public Enterprises, Mr. Amaechi Aloke; Executive Secretary, Nigerian Investment Promotion Commission, Ms. Yewande Sadiku; Chief Economist/Partner, PwC, Mr. Andrew Nevin; Partner & Portfolio Manager, Genesis Investment Management, Mr. Richard Mather; Managing Director/ Chief Executive Officer, Nigeria Sovereign Investment Authority, Mr. Uche Orji; President, Institute For Foresight And Leadership (Nigeria & Canada), Dr. Ifeanyi Onyemere; Chairman, Heirs Holding, Mr. Tony Elumelu, CON; Group Managing Director, NNPC, Mallam Mele Kolo Kyari; Managing Director, Indorama Eleme Petro-Chemicals Company, Mr. Manish Mundra; and Chairman of the Automobile Committee on Non-Performing Enterprises, Mr. Jumat B. Alli-Oluwafuyi.

To draw the curtain on the event, he CEO, NGX Limited, Mr Temi Popoola, CFA stated, “I would like to reiterate that the ability to unlock the investment opportunities in Nigeria’s privatization and economic reform programmes will be impacted by our collective ability to overcome our prevailing challenges, and to leverage the opportunities that abound amidst these challenges. As you seek to leverage these opportunities, please be reminded that NGX remains a veritable platform for all investment needs. At NGX, we continually work with all key stakeholders to develop products and services that meet the needs of stakeholders, whilst deepening the Nigerian capital market.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Capital Market

Nigeria Leads Africa in Private Equity Deals, Records $2.59 Billion in Q1 2024

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Nigeria has emerged as the epicenter of private equity activity across Africa as $2.59 billion worth of deals were done in the first quarter of 2024.

This surge represents a 321.8% increase compared to the same period last year, indicating Nigeria’s robust potential amidst global economic shifts.

The data, analyzed by DealMakers Africa, a leading authority on mergers, acquisitions, and corporate finance in the continent, revealed Nigeria’s pivotal role in driving regional investment trends.

According to the report, this surge in private equity investments was predominantly fueled by strategic transactions in the energy sector and the burgeoning educational technology (edtech) industry.

Nigeria’s ascendancy in private equity deals marks a reversal from previous trends, where in Q1 2023, other African nations like Zimbabwe had momentarily surpassed it in mergers and acquisitions value.

This year, however, Nigeria not only reclaimed its leading position but also outpaced other significant economies in the region, with Zambia, Morocco, Kenya, and Egypt following with notable but comparatively lower investment figures.

Among the standout deals contributing to Nigeria’s stellar performance, Shell’s $2.4 billion divestment of its onshore oil and gas subsidiary to Renaissance Africa Energy stands as the largest transaction in the quarter.

This landmark deal not only bolstered Nigeria’s overall investment portfolio but also signaled continued interest and confidence from global investors in the country’s energy sector potential.

Commenting on the findings, analysts highlight Nigeria’s strategic advantages, including a sizable market, abundant natural resources, and a dynamic entrepreneurial ecosystem that continues to attract substantial foreign and domestic capital.

The report also emphasizes West Africa’s prominence in regional investments, with Nigeria at its core, recording a cumulative $2.6 billion in deal value across various sectors.

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Stanbic IBTC Holdings to Raise N550bn Through Debt Issuance, Rights Issue

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Stanbic IBTC Holdings, one of Nigeria’s leading financial institutions, is set to raise a total of N550 billion through a combination of debt issuance and a rights issue.

This ambitious move comes amidst the backdrop of regulatory changes and the need for financial institutions to bolster their capital bases to meet new requirements set by the Central Bank of Nigeria (CBN).

The announcement was made in a notice of the company’s annual general meeting filed with the Nigerian Exchange Limited.

According to the disclosure, Stanbic IBTC Holdings plans to establish a debt issuance program with a capacity of up to N400 billion.

This program will enable the company to issue various forms of debt securities, including senior unsecured or secured, subordinated, convertible, preferred, equity-linked, or other forms of debt obligations.

Also, the board of Stanbic IBTC Holdings is seeking shareholder approval to raise additional equity capital of up to N150 billion through a rights issue or offer for subscription.

Shareholders will also vote on increasing the company’s issued and paid-up share capital to accommodate the proposed capital raise.

Stanbic IBTC Holdings has been a key player in Nigeria’s financial landscape, with a strong track record of performance and a diverse range of financial services.

The proposed capital raise is expected to provide the company with the necessary resources to pursue growth opportunities, enhance its market position, and continue delivering value to shareholders and stakeholders alike.

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Nigerian Breweries to Raise N600 Billion to Tackle Foreign Exchange Debt

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Nigerian Breweries - Investors King

Nigerian Breweries Plc, the largest brewery in Nigeria, has announced plans to N600 billion through a rights issue, with the primary objective of clearing its N500 billion foreign exchange debt burden.

This initiative was unveiled by Uaboi Agbebaku, the company’s secretary and legal director, during a pre-annual general meeting press conference held in Lagos.

Agbebaku stated that Nigerian Breweries is committed to implementing a comprehensive company-wide reorganization strategy to ensure a resilient and sustainable future for all stakeholders.

“The additional capital raised via rights issue will be utilized to settle all overdue foreign exchange debts and payables, effectively eliminating foreign exchange exposure,” Agbebaku explained.

He further highlighted the importance of strengthening the company’s balance sheet and liquidity position to restore profitability in the shortest possible time frame.

Hans Essaadi, the managing director and CEO of Nigerian Breweries, echoed Agbebaku’s sentiments, acknowledging the challenging operating environment characterized by factors such as double-digit inflation rates, currency devaluation, and foreign exchange challenges.

Essaadi emphasized the urgency of addressing these issues to mitigate their adverse impact on the company’s financial performance.

To achieve its objectives, Nigerian Breweries intends to leverage the support of its majority shareholder, Heineken Plc, which has committed to contributing over 50 percent of the N600 billion fundraising target.

This partnership underscores the strategic importance of the rights issue in revitalizing Nigerian Breweries’ financial health and positioning it for sustainable growth.

As part of its broader business restructuring efforts, Nigerian Breweries had previously announced plans to temporarily suspend operations at two of its nine breweries.

Sade Morgan, the director of corporate affairs at Nigerian Breweries, explained that the company is committed to executing its 2024 business recovery plan, which comprises cost management, operational optimization, and portfolio innovation.

“Our strategy for success in 2024 revolves around strong cost management, operational efficiency, and the introduction of exciting innovations to delight our customers,” Morgan stated.

“We remain dedicated to our employees, communities, and stakeholders as we navigate through these challenging times.”

With the proposed rights issue, Nigerian Breweries aims to not only alleviate its foreign exchange debt burden but also to fortify its financial resilience and drive sustainable growth in the dynamic Nigerian market.

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