Airtel Africa has announced that its subsidiary, Airtel Networks Ltd, (Airtel Nigeria) has started a process to buy back 8.27 percent of minority shareholdings at N55.81 per share.
This was disclosed by the Group Company Secretary, Simon O’Hara, in a statement made available to the News Agency of Nigeria (NAN) in Lagos on Monday.
According to the statement, the total consideration was estimated to be N61.24 billion (using an exchange rate of N413.38) assuming all minority shareholders decide to tender their shares, Premium Times reports.
The statement read: “This represents an open offer to all shareholders.
“A further announcement will be made in due course.”
Kano MSMEs To Get N200 Million Grant From EU, Germany To Boost Their Businesses
The European Union (EU), in collaboration with the German International Cooperation Agency (GIZ), has launched a N200 million non-interest financing scheme to boost micro, small and medium enterprises (MSMEs) in Kano State.
GIZ’s Access to Finance and Investment adviser, Yakubu Musa-Paiko, made this known at the inauguration of the financing scheme for MSMEs in the garment and leather value chains in Kano on Thursday.
Musa-Paiko noted that the financing scheme would be implemented under the Nigeria Competitiveness Project (NICOP).
NICOP was implemented in Abia, Kaduna, Kano, Lagos, Ogun, Oyo, and Plateau States.
About 2,000 MSMEs are targeted to benefit from the fund, with N20 million disbursed so far to 280 MSMEs in Kano State.
Musa-Paiko added that Businesses in tomato, chilli, garment, and leather value chains were selected to participate in the project.
“We are in Kano, in follow up on the work that we have been doing of improving the productivity and competitiveness of MSMEs in the leather and garment value chains,” he said.
“One of the challenges facing them is access to finance. We are partnering with JAIZ Bank to develop special support to such MSMEs.”
The main objective of the financing scheme is to boost MSMEs, thereby creating job opportunities for the people.
POVERTY ALLEVIATION: 15 Businesses To Receive N7.5 Million Loan To Boost Their Businesses -SMEDAN
As businesses continue to grow across Nigeria, the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) has granted financial support to about 15 Micro, Small and Medium Enterprises (MSMEs) associations.
This was disclosed by the Director-General of the agency, Dikko Radda, during a three-day capacity-building programme for MSMEs in Lagos State, adding that the scheme would be extended to all the zones across the country.
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Radda stated that the organized training was aimed at building the capacity of trade associations to enable them to assist in enlightening their members. He noted that this would assist the association to also support their members in their business.
“We are training them in all aspects with the support of experts from all the regulatory bodies and financial institutions will train them on their activities and how they can tap on those activities and use it for the growth of their businesses. After the three-day trading, SMEDAN will support them with N500, 000 each to 15 businesses.”
REVEALED: Why Nigerian Youths Struggle To Get Money For Their Businesses – NBS
The National Bureau of Statistics (NBS) has revealed that 86.1 percent of youths in Nigeria lack access to finance their businesses.
The NBS in collaboration with the Federal Ministry of Youth and Sports Development made this known in its ‘National Youth Survey, 2020’ report.
The Bureau added that 4.9 percent of youths said inconsistency in policies of the government was a major problem for their business; 4.6 percent mentioned that obsolete items of equipment did not allow them to flourish in their businesses, while three percent disclosed that lack of proper training hindered the growth of their business.
The NBS report said, “At zonal level, most youths from all the zones reported the challenge of financing their businesses; youths South-West (100 per cent) top the list followed by North-East (93.6 per cent) while youths from South-East (78.1 per cent) were least.
“However, youths from North-Central (9.2 per cent) faced the challenge of obsolete equipment for their businesses followed by youths from South-East (3.5 per cent) while youths from South-East (10 per cent) reported inconsistency in government policies as a major challenge that is affecting their businesses.”
According to the bureau, high rates of interest, stringent bank policies, government policies, and other measures adopted by the banking industry are holding back businesses run by youths.