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The Story In the past year, there has been a tremendous rise in home prices globally. The price rise which is an increase in both rent and the selling price of houses is one of the many aftermaths of the pandemic. Incredibly low interest rate, fewer construction projects, and change in family spending that came […]
The Story Nigeria has announced October 11, 2021, as the launch date for the issuance of its Eurobond. The country is looking to raise $3 billion from Eurobonds and another $3 billion from multilateral and bilateral agencies. The borrowings are to be used to fund the government’s 2021 budget deficit. What are Bonds? A bond […]
The Story As a follow-up to the announcement of the launch of Nigeria’s digital currency before the end of 2021, the Central Bank of Nigeria (CBN) recently sent a detailed presentation explaining the design and the operational module of the eNaira project. The apex bank also recently announced it will be working with Bitt Inc […]
The Story In what seems to have become regular news, two major announcements were made last week about an acquisition and a fundraise in the Nigerian digital space. The first was about the acquisition of a Ghanaian mobility start-up Stabus by its Nigerian counterpart Plentywaka. Plentywaka’s acquisition of Stabus comes after it got $1.2mn in […]
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LoftyInc Capital Management (LCM), an early-stage African-focused technology fund, achieves its first close of LoftyInc Afropreneur Fund 3 with substantial participation from African HNIs and Millenials, startup founders, and institutions. Coming off our first unicorn exit via LoftyInc Afropreneurs Fund 2 (LAF2) investment in Flutterwave, and providing above substantial returns to our investors, we are pleased […]
The Story After a long wait, the Petroleum Industry Bill (PIB) was passed into law on Monday, the 12th of August 2021. The Petroleum Industry Act provides the legal, regulatory, and fiscal framework for the Nigerian Petroleum Industry, the development of host communities & related matters. Also in the past week, the Central Bank of […]
The Hack The Story On Tuesday the 10th of August 2021, the biggest cryptocurrency heist happened. Over $600million was stolen from Poly Network (a token swapping platform). A couple of days later the total amount stolen was returned. Earlier in August, Ethereum (the second largest cryptocurrency) did a network upgrade called London Hard Fork. An […]
Start-Up Valuations The Story Investors on the 1st of August 2021, woke up to the news of Square (a digital payment company owned by Jack Dorsey) acquiring Australia’s popular Buy Now Pay Later (BNPL) company Afterpay for $29bn. This acquisition is an all-stock transaction. 1% of the payment can be done in cash and the […]
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