GTCO posts N609.3bn pre-tax profit

Banking

  By Rukayat Adeyemi Guaranty Trust Holding Company Plc (GTCO) has reported a Profit Before Tax of N609.3 billion for the financial year ended Dec.31, 2023. This represents an increase of 184.5 per cent over N214.2billion recorded in the corresponding year. The group announced this in its audited financial statements for the year ended Dec. [&

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Debt for growth not bad, says AfDB

BankingBusiness

By Lucy Ogalue The African Development Bank’s Chief Economist, Kevin Urama, says debt for growth for countries on the continent should not carry any negative connotation. Urama, who is also the Vice-President, Governance and Knowledge Management at AfDB, said this at a pre-media conference held virtually to herald the 2024 AfDB Annual Meetings. Acc

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AfDB, Indorama sign $75m loan deal to boost fertiliser production, export capacity

BankingBusinessEconomy/Business

By Lucy Ogalue The African Development Bank (AfDB) has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertiliser and Chemicals Limited. The bank announced this in a statement issued on its website late Thursday. According to the statement, the loan will enable Indorama to increase its fertiliser production and develop a por

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