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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SUNU Assurances targets N9.34bn via rights issue
SUNU Assurances Nigeria Plc has commenced a rights issue to raise N9.34bn from existing shareholders as part of efforts to strengthen its capital base and expand operations in Nigeria’s insurance sector. The company is offering 2,075,285,715 ordinary shares of 50 kobo each at N4.50 per share. According to the Company Secretary, Taiwo Kuku, the offer…
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Allgreen to invest $10bn in 80m clean cookstove rollout
Allgreen Energy NV has announced plans to invest $10bn in the rollout of 80 million clean cookstoves across Nigeria under a large-scale energy transition programme. The investment was unveiled in Lagos during a media briefing organised by GreenPlinth Africa, where stakeholders also signed a manufacturing agreement for the first batch of 24 million cookstoves. The…
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OPay expands access to N1.2bn scholarship scheme
OPay has expanded its scholarship programme with the signing of Memoranda of Understanding with four tertiary institutions across Nigeria. The new partner institutions are Benue State Polytechnic, Kogi State Polytechnic, Montgomery Polytechnic, and Alex Ekwueme Federal University. With the addition, the total number of participating institutions in the programme has increased to 24 nationwide. The initiative is a N1.2bn, 10-year…
