Banking

Bidvest Group Begins Search for Bidvest Bank Buyer, Aiming to Minimize Retrenchments

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July 6, 2024
Bidvest Bank will prioritise a buyer who will make minimal retrenchments as the bank goes up for sale. The bank currently employs over 1,500 employees. Bidvest Group, the parent company of the bank, today announced that the bank and its financial migration services arm FinGlobal, will be sold as part of a restructuring process. “Beyond looking for fair value of the asset, we will also…
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MarketsTechnology

Zedcrest Acquires RMB Nigeria Stockbrokers Ltd in a Deal Valued at ₦400 Million

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July 6, 2024
Zedcrest, a Nigerian investment firm specializing in debt and equity capital markets, has acquired RMB Nigeria Stockbrokers for an estimated amount between ₦400 million and ₦420 million, as reported by a source close to the transaction. The acquisition comes as Zedcrest looks to expand its services and give its clients access to Nigeria’s equity market, which gained 45% last year (a 26%…
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Energy

International oil refineries are attracting marketers by offering enticing credit arrangements.

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August 24, 2023
In an attempt to aid Nigerian oil marketers in overcoming the challenge of a shortage of dollars within the country, foreign crude oil refiners have initiated the provision of credit facilities. A reliable source has indicated that foreign refiners opted to extend credit facilities to Nigerian oil marketers due to concerns about potentially losing a significant market. This was prompted by the…
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Banking

"UBA provides assistance to micro, small, and medium enterprises (MSMEs)."

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August 23, 2023
The United Bank for Africa has announced its plans to conduct a workshop that will provide valuable insights to proprietors of micro, small, and medium-scale enterprises, enabling them to effectively manage both their well-being and finances in the face of global economic challenges. According to an official statement released on Tuesday, UBA has organized this workshop as part of its ‘UBA…
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