Stanbic IBTC signs agreement with Afreximbank on N300bn bond issuance -

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, recently released its 2021 second quarter audited financial results for the period ended June 30th, 2021.

Stanbic IBTC Capital Limited, a subsidiary of the Stanbic IBTC Holdings Plc, has established a N300 billion Domestic Bond Programme for the African Export-Import Bank (Afreximbank). The signing ceremony which held in Lagos marked the official kick-off of the initiative.

The transaction was consummated in the presence of members of the Stanbic IBTC team, members of the Afreximbank Executive management team, representatives from the Nigerian Stock Exchange and FMDQ OTC Plc, amongst others.

Afreximbank, a multi-product partner of Stanbic IBTC and the Standard Bank Group, is one of Africa’s largest Developmental Finance Institutions and a seasoned issuer in the international capital markets.

The establishment of the debt issuance programme in the Nigerian capital market by Afreximbank makes it the third supranational ever to join an elite group of Nigeria’s development partners, enabling the domestic capital market. It is vital to establish the Bond Programme in local currency, considering the strong liquidity and current low yields in the domestic market.

This initiative by Afreximbank aligns with global best practice in treasury management and innovation to stay abreast of evolving market conditions. It will aid in stimulating the expansion and development of Nigeria, through the intervention in various sectors of the Nigerian economy.

Stanbic IBTC Capital Limited remains fully committed to developing the Nigerian capital markets and has been at the forefront of driving financial innovation and advising clients on staying ahead of changing times.

United Capital proposes N3bn dividend payout amid subdued group earnings

By Iheanyi Nwachukwu • February 18, 2020

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.