Investment

UBA Sustain Growth Momentum

 United Bank for Africa (UBA) has released 2014 full year audited results showing that consolidation of its African operations and enhanced productivity are sustaining the Bank’s growth momentum.

 The results of the Pan-African Bank, released last Wednesday at the Nigerian Stock Exchange (NSE), show a 10 percent growth in gross earnings to N290bn.


(L-R) One of the Completed Units, other still being constructed

EJS Housing Estate Construction on Course

The construction of 125 housing units by the National Housing Authority (NHA), intended to advance government’s efforts to provide its citizens with modern, affordable shelter, is speedily progressing and may be completed very soon for immediate occupation, NHA authorities have said.

Forty of these 125 proposed units are expected to be completed in two months. The contractors working on the project have completed two of the 40 housing units, while 38 are at roof level, according to NHA Project Development Officer ES-Samir Bropleh.

GTBank Receives US$175m for Expansion

The International Finance Corporation, an arm of the World Bank Group, has announced US$175 million lending facility to Nigeria’s Guaranty Trust Bank.

According to IFC in a statement on Tuesday, the facility is to enable the bank to expand its lending portfolio in Africa’s biggest economy.

It said the financing comprises US$100 million for IFC’s own account and $75 million through an IFC managed co-lending portfolio.

Farmers' Cooperative Troubled By Lack of Markets

The Dokodan Farmers’ Cooperative Society (DFCS), in Gbain, Nimba County, has expressed fears that its members could lose millions of dollars worth of crops if a favorable market condition is not provided to sell their produce.

In an interview with newsmen over the weekend, DFCS Co-chairman Robert Borgon said, “3,600 bags of rice and 2,400 bags of seed rice produced by over 100 farmers could not be sold due to unfavorable market conditions.”

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