Capital |

Nigeria Plans $3.2 Billion Capitalization for Farming Lender

LAGOS (Capital Markets in Africa) – Nigeria plans to capitalize its state-owned Bank of Agriculture with 1 trillion nairas ($3.2 billion) and will allow the lender to take deposits as Africa’s most-populous nation seeks to boost farming output and reduce food imports. “We are looking at 25 million farmers” as stakeholders or depositors, Agriculture and Rural Development Minister Audu Ogbeh said in an interview Monday in the capital, Abuja. “We are probably going to take a major step…

Africa Finance Corp. Plans More Eurobonds for Infrastructure

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: The Africa Finance Corp., a development-finance institution that funds infrastructure on the continent, plans to sell more Eurobonds to support energy-generation and logistics projects. The Lagos, Nigeria-based lender, which has financed projects in 26 African countries, has scope to borrow more offshore in its $1.5 billion funding strategy after raising 100 million Swiss francs ($103 million) in a debut three-year Eurobond in July, said Ini Urua, senior vice president for east and…