BREAKING: Access corp’s fintech arm, Hydrogen, reports 10x profit surge
Hydrogen reported a profit of ₦1.8 billion for the year ended 2024, a tenfold increase from ₦161 million in 2023. Access Corporation's strategic shift to a holding company structure in 2020 has proven successful.
“Transfers will be the future”: GTCO’s HabariPay expands fintech push with new licences
GTCO launched Habari, a super-app, in 2018 to compete with fintechs but struggled to attract users. In 2022, GTCO pivoted to launch HabariPay Limited, focusing on payments and digital financial services.
Nigerian banking stocks surge 12.24% as lenders raise over $662 million in new capital
Nigerian banking stocks surged after major lenders raised over ₦1 trillion from the stock market. The NGX Banking Index increased by 12.24% at market close on February 14.
Stanbic IBTC to inject ₦4 billion into fintech subsidiary, Zest
Stanbic IBTC Holdings Plc is recapitalizing Zest Payments Limited with ₦4 billion. The funding represents about 3% of the total ₦148.71 billion capital raising exercise.
Condia Insider: Safaricom is under fire
GTCO completes the first phase of its mandatory capital raise, securing ₦209.41 billion from investors. The Central Bank of Nigeria mandates commercial banks to raise their capital base to ₦500 billion by March 2026.
