Markets and investing

The largest listed commercial paper issuance ever in Nigeria and other stories

Here’s a quick snapshot of recent private and public market activity across Africa

The European Investment Bank (EIB) kicks off an SME investment programme across East Africa targeting Sh27 billion (about $2.6 million)of new lending. Meanwhile AfricInvest has invested $18 million in Azalaï Hotels. The hotels group has properties in several west African markets including Mali, Benin, Guinea Bissau, Mauritania and Côte d’Ivoire. Here’s Africa Capital Digest’s weekly roundup of PE activity across Africa.

In the public markets, Nigeria’s Jaiz Bank is set to list on the Nigerian Stock Exchange. 29.46 billion shares will be listed at a price of 1.25 Naira per share. Still in Nigeria’s banking sector, Access Bank PLC raised N35 billion (about $111 million) from the Nigeria’s money market, the “largest listed commercial paper” issuance ever in the country.

Finally, the Nigerian government plans to issue N340 billion to N430 billion (up to $1.3 billion) of local-currency bonds during the first quarter of 2017.

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