Capital Market
Ecobank Opens 10-Day Window for $250M Capital Raise
Ecobank Transnational Incorporated (ETI) has initiated a private placement offering to raise up to $250 million in Additional Tier 1 capital through contingent convertible notes, aimed at strengthening its financial base and supporting growth across Africa.
The bank disclosed that the capital raise was approved by shareholders during its Extraordinary General Meeting in Lomé, Togo, and the offer was officially launched on July 9, 2025, with a 10-day subscription window.
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According to a regulatory filing on the Nigerian Exchange, the transaction is intended to enhance Ecobank’s capital adequacy, improve resilience, and support its long-term expansion plans across its pan-African footprint. Renaissance Capital Africa has been appointed as transaction adviser.
Company Secretary Madibinet Cisse said the planned capital raise is a “critical step” in fortifying the bank’s financial foundation to meet evolving demands and regulatory expectations.
This new fundraising effort follows Ecobank’s recent Eurobond tap of $125 million, which increased the total size of its 2029 notes to $525 million.
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Visa, Zenith Bank unveil premium Signature Card for affluent Nigerians
By: Amarachi Okonkwo Visa Inc. has partnered with Zenith Bank to introduce the Visa Signature Card, a premium payment solution designed to cater to the lifestyle and financial needs of affluent customers in Nigeria. The card was unveiled during a media briefing held at Zenith Bank’s headquarters in Victoria Island, where executives from both organisations…
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AfDB Approves $5.52m Grant to Support Tax Reforms in Nigeria, West Africa
The African Development Bank (AfDB) Group has approved a $5.52 million grant aimed at strengthening tax administration and boosting domestic revenue mobilization in Nigeria and several West African countries. The announcement was contained in a statement confirming the signing of a grant agreement between the AfDB and the West African Tax Administration Forum (WATAF). The…
