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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Nigeria to Adopt T+1 Settlement Cycle in Capital Market
Nigeria’s capital market will transition to a T+1 settlement cycle from May 29, 2026, in a move aimed at improving efficiency and aligning with global standards. The change was announced by the Central Securities Clearing System, the clearing and settlement arm of the Nigerian Exchange Group. Under the new framework, all securities transactions will be…
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Dangote Signs $4.2bn Gas Deal with GCL for Ethiopia Fertiliser Plant
Aliko Dangote has signed a $4.2 billion natural gas supply agreement between Dangote Industries Limited and GCL Group to support a major fertiliser project in Ethiopia. The agreement, signed in Lagos, secures a 25-year gas supply for the planned facility, ensuring long-term energy availability for operations. The fertiliser plant, located in Gode, Ethiopia, is a…
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NUPRC Shortlists Bidders for Nigeria’s Oil Licensing Round
The Nigerian Upstream Petroleum Regulatory Commission has shortlisted bidders for Nigeria’s 2025 oil and gas licensing round, marking the conclusion of the pre-qualification phase. In a statement issued on Tuesday and signed by its Head of Media and Strategic Communication, Eniola Akinkuotu, the commission confirmed that successful applicants have been formally notified. The regulator said…