The United Bank for Africa (UBA) is one of the largest financial services groups in sub-Saharan Africa. It is the third-largest bank in Nigeria with an estimated market share of 10%. The bank has a presence in 19 African countries, as well as in the UK, the US and France. Among Nigerian banks, it is the most diversified in terms of its reach...
The insurance sector has seen rapid grown in recent years. In 2015 Nigerian underwriters reported total gross written premiums (GWPs) of nearly N350bn ($1.1bn at the time of printing) according to data released by the Nigerian Insurers Association, an industry group. This figure was up around 19% on the previous year. In light of the pace of...
Private equity (PE) has solidified its position on the cutting edge of the Nigerian economy in recent years, taking stakes in technology, mobile and electronic payments infrastructure, and e-commerce. Local firms have also been especially active in the real estate and consumer goods markets. Developments have sought to strengthen the PE...
Dangote Cement’s (DanCem) foray into cement manufacturing started in 2000, with its acquisition of the federal government’s equity stake in the Benue Cement Company. With investments in excess of $5bn, DanCem’s rise to the top has transformed the industry, taking the sector’s installed capacity in Nigeria from around 4.8m tonnes in 2000 to...
The second-largest stock exchange in Africa by market capitalisation is in Nigeria, with the two primary exchanges, the Nigerian Stock Exchange (NSE) and the FMDQ OTC Securities Exchange, offering a sophisticated suite of listing and trading services, licensing services, market regulation and data solutions, and technological offerings. The...
President Muhammadu Buhari has embarked on an active foreign policy during his first year in office. Nigeria’s new head of state has had a busy overseas itinerary, adopting an aggressive diplomatic agenda in pursuit of key policy aims laid out in his 2015 election campaign. The policy has reaped some rewards for Abuja’s security and economic...
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