🇳🇬 Nigerian Exchange

South Africa's MTN Group may list its Nigerian unit on the stock exchange in Lagos once it has resolved a disputed $3.9 billion fine with Nigerian authorities, the company's executive chairman said on Thursday.

Nigeria’s Dangote Cement Plc and Africa’s largest producer of the building material, said full-year profit rose 15 percent as a price cut in its home market of Nigeria helped bolster sales and offset the effects of slowing economic growth, while new plants increased total volumes by 35 percent.

Alhaji Aliko Dangote’s Dangote Industries Limited (DIL) may soon launch a mandatory takeover bid for minority shares in Tiger Branded Consumer Goods Company (TBCG) Plc.

West African private equity firm, African Capital Alliance is acquiring a significant minority stake in publicly-listed Continental Reinsurance, a Pan-African reinsurer operating in 44 countries across the continent from offices in Nigeria, Cameroon, Botswana, Cote d’Ivoire, Kenya and Tunisia. The deal is dilutive for other shareholders, including Saham Finances, who had only recently acquired Emerging Capital Partners’ 53.6% Continental Re stake. Valuation and pricing for the deal were not disclosed.