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Tag: aliko dangote foundation

Dangote Cement Raises N150bn as Bond Offer Records Oversubscription

Dangote Cement Raises N150bn as Bond Offer Records Oversubscription

Growth & Insight
Dangote Cement Plc has raised a total N150 billion in its debut bond issuance in the nation’s capital market. The company had accessed the market with N100 billion Series 1 Fixed Rate Senior Unsecured Bonds due April 2025 under its N300 billion Bond Programme. However, the offer was oversubscribed by N50 billion. The bond has a coupon rate of 12.50 percent. Book building with respect to the debt instrument commenced on April 3 and closed on April 15, 2020. Despite current market headwinds due to the COVID-19 pandemic, the transaction was well received. It attracted investors such as domestic pension funds, asset managers, insurance companies, banks and international fund managers. Dangote Cement explained that the debt would enabled it to lower its average cost of debt and extend th...
CACOVID-19 steps up private sector mobilisation against pandemic

CACOVID-19 steps up private sector mobilisation against pandemic

Business
The private sector-led Coalition Against Covid-19 (CACOVID-19) has stepped up its complementary efforts towards freeing the nation from the Coronavirus pandemic. Due to the devastating impact of the pandemic and the limited resources available to the government to tackle the health crisis, the private sector in the Nigeria decided to form the CACOVID-19 to assist the government to fight the virus. The body, which is led by Aliko Dangote, through the Aliko Dangote Foundation(ADF) and Herbert Wigwe of Access Bank, is also backed by Zenith Bank, Guaranty Trust Bank, Central Bank of Nigeria (CBN) among others. The mission is to mobilise private sector leadership and resources to support health facilities to respond to the crisis and also to use their reach to increase awareness throu...
CBN, private sector form committee against COVID-19 crisis

CBN, private sector form committee against COVID-19 crisis

Growth & Insight
The Central Bank of Nigeria (CBN), in collaboration with the bankers’ committee and the private sector, led by Aliko Dangote Foundation and Access Bank, has announced the formation of the Nigerian Private Sector Coalition against COVID-19.  In a statement by the CBN, the coalition was created due to the urgent need to combat the unfolding COVID-19 crisis in Nigeria Members of the group include: the CBN Governor, Godwin Emefiele, Aliko Dangote, Herbert Wigwe, Jim Ovia, Tony Elumelu, Segun Agbaje, Abdulsamad Rabiu and Femi Otedola.  Already, the coalition has set up four major groups comprising of steering, funding, operational and technical committee to oversee the leadership, funding, project management and data collection for the group. The steering committee will b...