AGP Executive Report
Last update: 2 hours agoFintech Listings: Airtel Money began trading in London in a £582 million IPO that valued the business at about $7 billion, though shares slipped below the offer price. OPay’s US filing showed first-half revenue more than doubling to $467 million, with net income reaching $91 million; Stanbic Africa may invest up to $200 million. Banking Expansion: J.P. Morgan plans to open a merchant bank in Nigeria before year-end, subject to regulatory approval, as the CBN courts Asian investors and points to stronger reserves and reforms. Credit Ratings: The African Union launched its homegrown credit rating agency in Mauritius to challenge global firms and address borrowing costs it says are unfairly high. Officials caution the new agency will not lower costs immediately; its credibility will depend on trusted data and ratings. Capital Markets: Dangote Refinery’s IPO is drawing interest from East African investors, while cross-border access and subscription rules highlight hurdles to continent-wide investing. Trade Finance: Ecobank is deepening China-Africa trade links, including plans to inaugurate its Beijing office and support cross-border payments and business financing.
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