InfraCredit to Raise Fresh Capital

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

Here is a list of all Microfinance Banks’ USSD Codes in Nigeria.

A Microfinance bank is a type of bank that offers small loans, or microloans, to individuals, entrepreneurs and small...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -

The Infrastructure Credit Guarantee Company (InfraCredit) has revealed plan to raise additional capital to fund critical projects in Nigeria.

InfraCredit to Raise Fresh Capital
InfraCredit to Raise Fresh Capital –

The unit of the Nigeria Sovereign Investment Authority is looking to raise equity and debt capital next year and go into risk-sharing with development finance institutions to boost its insurance guarantee capacity, its Chief Executive Officer, Chinua Azubike, told Bloomberg.

He said: “You need access to funding to kick-start the economy.”

With Nigeria going through its second recession in four years, President Muhammadu Buhari’s government is seeking to expand investments to help stimulate recovery.

- Advertisement -

InfraCredit was established to guarantee companies seeking to raise local currency debt for infrastructure development in Africa’s biggest crude producer. It plans to double its guarantee portfolio to N100 billion next year and probably exceed that when it raises additional capital of $30 million to $40 million, according to the chief executive.

The Lagos-based company is working on a private-sector led telecommunications, health care and agriculture projects in addition to a government road infrastructure it plans to deliver next year, Azubike said.

InfraCredit can help clients raise as much as 20-year funds in the local market, Azubike said. “In addition to our guarantee services, we work with our development partners to render technical assistance to companies to come up with bankable projects.”

- Advertisement -
InfraCredit to Raise Fresh Capital - Brand SpurInfraCredit to Raise Fresh Capital - Brand Spur
- Advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

InfraCredit to Raise Fresh Capital - Brand SpurInfraCredit to Raise Fresh Capital - Brand Spur

Latest News

Fixed Income Market: A Market in Search of a Path

The Fixed Income Market persisted on a bearish tone following continued profit booking across the market. The selloff in...

Market Rebounds, As Investors Gain N45 Billion

Trading activities on the Nigerian Stock Market today (Monday) closed on a positive note as investors sentiment tends towards the Banking and Industry sectors,...

Unilever Overseas Holdings B.V. Acquires More Stake in Unilever Nigeria Worth ₦352M

Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, recently disclosed that one of its major and substantial shareholders, Unilever Overseas Holdings B.V purchased...

Unilever Nigeria Records N1.6m Loss in 2020

Unilever Nigeria Plc has released its unaudited interim financial statements for the year ended 31 December 2020 with a slight growth in revenue to...

Deglobalization, Inequality and Digital Concentration Among Key Trends Shaping the Global Economy in 2021, Say Leading Chief Economists

Accelerating inequality, the market dominance of tech platforms and remote working likely to be the longest-lasting legacies of the crisis Managing responses to...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -InfraCredit to Raise Fresh Capital - Brand SpurInfraCredit to Raise Fresh Capital - Brand Spur