News Agency of Nigeria
Heirs Insurance Group grows revenue to N31.4bn  
Business

Heirs Insurance Group grows revenue to N31.4bn  

130 total views today

 

 

 

 

 

By Taiye Olayemi

 

 

 

Heirs Insurance Group (HIG) says its revenue increased from N20.5 billion in 2023 to N31.4 billion in 2024.

 

 

 

The group, in its audited financial results for the year ended Dec. 31, 2024, said the figure represented a 53 per cent increase.

 

 

 

It reported a combined Gross Written Premium (GWP) of N61 billion in 2024, reflecting a 70 per cent increase from the N35.8 billion recorded in 2023.

 

 

 

The group’s Profit Before Tax(PBT) rose from N4.8 billion in 2023 to N11.2 billion, representing a 133 per cent year-on-year growth.

 

 

 

It recorded a total of N10.4 billion was paid in claims during the year, compared to N4.18 billion in 2023, marking a 149 per cent growth.

 

 

 

Its total assets also grew by 66 per cent, rising from N55.8 billion in 2023 to N92.9 billion in 2024.

 

 

 

Meanwhile, Heirs life Assurance reported N44.22 billion in gross written premium in 2024 from N23.87 billion in 2023, representing 85 per cent increase.

 

 

 

Its insurance revenue stood at N15.1 billion from N7.3 billion in 2023, indicating 109 per cent growth.

 

 

 

The company’s PBT grew to N5.5 billion, up from N1.88 billion, indicating a remarkable 193 per cent increase.

 

 

 

Total claims paid rose significantly to N5.67 billion, a 120 per cent increase from N2.5 billion paid to customers in 2023.

 

 

 

Investment income rose from N2.8 billion in 2023 to N4.6 billion, marking a 65 per cent increase.

 

 

 

Also, total assets of N66.2 billion when compared to 37.8 billion in the previous year, showing 75 per cent growth.

 

 

 

It gross written premium rose by 42 per cent from N11.9 billion in 2023 to N16.9 billion in 2024.

 

 

 

Insurance revenue stood at N14.3 billion as against N12 billion recorded in 2023, showing 19 per cent growth.

 

 

 

Also, PBT grew by 104 per cent, rising from N2.4 billion in 2023 to N4.9 billion in 2024 while a total of 4.7 billion was paid as claims to policyholders from N3.7 billion the previous year, showing 25 per cent increase.

 

 

 

Heirs Insurance Brokers’ revenue grew by 54 per cent from N1.28 billion in 2023 financial year to N1.97 billion in 2024.

 

 

 

Its PBT appreciated by 53 per cent from N528.59 million in the prior year to N805.91 million in 2024. (NAN) (www.nannews.ng)

 

 

Edited by Olawunmi Ashafa

Professor, who sells vegetables, advises youths on small businesses
Business

Professor, who sells vegetables, advises youths on small businesses

254 total views today

By Zubairu Idris

Prof. Nasir Hassan-Wagini of Biology Department, Umaru Musa Yar’adua University (UMYU), Katsina, who produces and sells vegetables, has advised students and youths to key into small businesses rather than wait for white-collar jobs.

 

Hassan-Wagini gave the advice on Monday in an interview with the News Agency of Nigeria (NAN) at a weekly market in Batsari, Katsina state, where he sells the produce.

 

The professor said he was born by a farmer, grew up as a farmer, and went into produce businesses at an early stage of life.

 

He said that his story became popular after he was promoted to the rank of professor.

 

“My call to the NCE, Diploma and degree graduates is that they should feel free and start small businesses in their communities instead of staying idle.

 

“I’m a professor of plant resources at UMYU, I want youths and students to look at me, know my rank and position, and I still engage in small business of this nature.

 

“That may clear their minds because they feel shame and too big to go into such type of small businesses.

 

“What matters is what you are contributing to the society. So, stop staying at home doing nothing when you did not get job, start with small businesses like this one.

 

“Our youths should stop going to other places looking for job, they should get into farming and other small businesses to become self-reliant.

 

“Self-reliance is key to successful life. Try to merge your education with vocational skills for your own good,” he said.

 

One of his neighbours in the market, Malam Uzairu, said that they enjoy staying with the professor in the market.

 

He described the professor as trustworthy, humble and kind in his interaction with people.

 

“We respect him and he respect us. In fact, he is a nice person who knows how to relate with all categories of people,” he said.

 

NAN reports that the price of a 100 kg bag of onion in the market cost N65,000 and above depending on its quality.

 

A 100 kg bag of dried red pepper sells at N115,000 and above, 100 kg bag of dried tomatoes, N60,000 and above, while 50 kg bag of fresh hot pepper, N100,000 and above.

 

NAN was told that in the next few months, farmers would start harvesting fresh tomatoes, red pepper, onions, among others.

 

NAN also reports that security in the area has improved, and has allowed for business activities to thrive.(NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz

Centre advocates e-procurement to curb corrupt practices
Business

Centre advocates e-procurement to curb corrupt practices

325 total views today

By Monday Ijeh

The Sustainable Procurement, Environmental and Social Enhancement Center of Excellence (SPESSECE) has advocated for the adoption of e-procurement processes by government at all levels to curb corrupt practices.

The SPESSECE coordinator for the FCT, Katsina, Jigawa and Sokoto States, Dr Lawal Salisu, stated this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

Salisu, who spoke on the sideline of a training programme organised for procurement officers, drawn from Ministries, Departments and Agencies, said SEPESSECE was a World Bank sponsored project.

He said the project was a deliberate attempt by the Federal Government and the World Bank to improve the capacity of federal, state and local government personnel in terms of procurement.

The coordinator said it was also to improve social and environmental standards with a view to ensuring a sustainable procurement process in Nigeria.

He added that the training was a deliberate attempt to educate participants on e-procurement and environmental procurement.

According to him, the conventional way of doing things are more like manual that requires physical meeting and this makes it difficult to curb corruption.

“The more you allow people to meet physically, the more likely you are to have some elements of influence.

“If we change the environmental processes to ensure that there is no physical meeting from the advertisement, handling, analysis and award, corruption will be eliminated.”

The SPESSECE coordinator also said that lack of professionals was a major challenge facing procurement process in Nigeria, adding that, aside the federal government, procurement cadre does not exist in most of the states in Nigeria.

“This is something that has to do with public resources. We require people with academic knowledge and professional certifications.

“People who understand that they will be sanctioned if they mislead the executive on anything that has to do with public procurement,” he said. (NAN)(www.nannews.ng)

Edited by Deborah Coker

Lagos urges support for local production
Business

Lagos urges support for local production

310 total views today

By Aderonke Ojediran

The Lagos State Government has urged Nigerians to embrace locally made products to boost Small and Medium Enterprises (SMEs) and strengthen the national economy.

 

Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose, made the appeal on Monday during the 16th National Council on Industry, Trade and Investment (NCITI).

 

The event was hosted by the Lagos State Government and organised by the Federal Ministry of Industry, Trade and Investment.

 

Its theme is: ‘Accelerating Diversification to Rebuild Prosperity by Leveraging Industry, Trade and Investment for Shared Prosperity.’

 

According to Ambrose, Nigeria urgently needs to reduce its over-reliance on oil by diversifying the economy.

 

“For Nigeria to remain economically relevant, we must produce and consume more local goods rather than depend on imports,” she said.

 

She noted that Nigeria is at a crossroads and economic diversification is now crucial for survival and global relevance.

 

Ambrose added that past disruptions have shown the danger of depending on a single resource, which limits long-term growth.

 

She stated that the Sanwo-Olu administration is building a business-friendly environment to attract investment and promote industrial growth.

 

Efforts include infrastructure development, policy reforms, and the Lekki Free Zone, which hosts the Dangote Refinery.

 

Other measures are improvements in land administration, tax transparency, and broader industrial support.

 

Ambrose also highlighted the laying of 3,000km of fibre optic cables to reduce data costs for businesses.

 

“Lagos has launched an industrial policy- 2025–2030- to support MSMEs, large-scale industries, and global investors,” she said.

 

She stressed that trade is a major pillar of Lagos’ economy and key to empowering local producers and exporters.

 

“Trade is not just commerce; it drives inclusion, reduces poverty, and supports shared prosperity,” Ambrose stated.

 

She said Lagos remains committed to providing a transparent and secure environment for investors.

 

“In the past year alone, Lagos attracted over $600 million — more than N1 trillion — in new investments,” she said.

 

Ambrose encouraged both state and federal governments to explore new markets and embrace the digital economy.

 

Permanent Secretary, Ministry of Industry, Trade and Investment, Amb. Nura Rimi, said Nigeria must act quickly to adapt shifting global economy.

 

“The global economy is shifting. Nigeria must diversify with purpose and responsive policies,” he said.

 

He described manufacturing as the backbone of industrial growth and key to improving export performance.

 

“We must ease business processes, attract investors, and expand finance access for SMEs,” he added.

 

Rimi said the meeting was an opportunity to develop actionable policies to support industry and trade.

 

“Our ministry is committed to fostering business growth and building investor confidence,” he said.

 

Economist and keynote speaker, Abiodun Adesire, said no nation prospers by relying on imports.

 

He argued that reviving Nigeria’s manufacturing sector was essential for economic survival.

 

“We must produce what we consume. Oil dependence harms our economy,” he said.

 

He added that Nigeria is not producing enough and must focus more on local manufacturing.

 

“History proves that nations grow rich by processing — not exporting — raw materials,” Adesire said.

 

He stressed that Nigeria has the potential to lead Africa’s industrial growth, adding that “Nigeria must actively attract investors. Buying local is a patriotic act”.

 

He urged governments to implement policies that support manufacturing as a path to prosperity. (NAN) (www.nannews.ng)

Edited by Edith Bolokor/Kamal Tayo Oropo

Dangote pledges petrol price stability
Business

Dangote pledges petrol price stability

277 total views today

By Yunus Yusuf

Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to maintaining stable petrol prices, even as global crude oil prices continue to fluctuate.

This contained in a statement issued on Monday in Lagos by the Group Chief Branding and Communications Officer of the company, Mr Anthony Chiejina.

Chiejina stated that the company has consistently reduced the price of Premium Motor Spirit (PMS), underscoring its dedication to supporting the Nigerian economy and easing the financial burden on consumers.

“This decision reflects our commitment to delivering affordable, high-quality petroleum products without compromising efficiency or sustainability.”

Chiejina emphasised that Dangote’s efforts align with the Federal Government’s Nigeria First policy, which prioritises local production.

He added that efforts also supports President Bola Tinubu’s Renewed Hope Agenda aimed at economic recovery and national development.

“Refining petroleum products locally at the world’s largest single-train refinery allows us to significantly contribute to Nigeria’s energy security, conserve foreign exchange, and bolster economic resilience.

“We are deeply grateful to President Tinubu for enabling this through the Naira-for-Crude Initiative, which has helped reduce fuel prices for the benefit of all Nigerians.

“Dangote Petroleum Refinery reassured stakeholders—consumers, partners, and the government—of its continued focus on operational excellence and national service.

“We remain committed to ensuring that the benefits of our local refining capacity are fully realised by Nigerians. Affordability, quality, and national interest will always guide our operations,” he added.(NAN)(www.nannews.ng)
Edited by Yakubu Uba

Seplat prioritises well revival, output growth
Business

Seplat prioritises well revival, output growth

253 total views today

 

 

By Taiye Olayemi

 

Mr Samson Ezugworie, Chief Operating Officer of Seplat Energy, says the company is prioritising the revival of existing wells in its SEPNU asset.

 

 

 

Speaking at Seplat Energy’s 12th Annual General Meeting on Wednesday, Ezugworie noted plans to invest in further drilling campaigns to boost performance and increase production output.

 

 

 

He added the company is increasing gas volumes through ongoing activities at the Sapele Integrated Gas Plant (SIGP).

 

 

 

Ezugworie outlined Seplat’s strategy to maximise production potential, aiming to drive business growth and unlock further opportunities.

 

 

 

“2024 was a year of notable achievement, including the addition of SEPNU assets following a Change-in-Control in December.

 

 

 

“We included 19 days of production from SEPNU, contributing to a full-year output of 52,947 barrels of oil equivalent per day (boepd).

 

 

 

“This marked an 11 per cent increase compared to 2023, which had a range of 46,000–52,000 boepd.

 

 

 

“Our focus remains on reviving existing wells, increasing drilling campaigns and boosting gas volumes through SIGP,” Ezugworie said.

 

 

 

He said Seplat’s legacy business delivered an average working interest production of 48,618 boepd, aided by various positive factors.

 

 

 

These included strong results from 2024 drilling, new gas output from SIGP, and improved Oben gas production after maintenance.

 

 

 

Ezugworie explained that operational gains also came from sustained efficiency on the Trans Niger Pipeline (TNP).

 

 

 

“SEPNU production delivered an annualised average of 4,329 boepd.

 

 

 

“Our 2025 guidance targets 120,000–140,000 boepd, with Q1 already showing 131,561 boepd—aligned with our forecast,” he said

 

 

 

Seplat CEO Roger Brown said the company is committed to enhancing Nigeria’s energy landscape while supporting healthcare, education and empowerment.

 

 

 

He highlighted Seplat’s milestone of conducting 100,000 eye tests under the Eye Can See programme.

 

 

 

“Over 1,000 teachers were supported through our educational programmes.

 

 

 

“In 2024, we launched the Youth Entrepreneurial Programme (YEP) as part of our social investment efforts,” Brown said.

 

 

 

YEP equips young people with practical skills in renewable energy, preparing them for careers in clean energy.

 

 

 

“The programme empowers youth and communities while supporting Nigeria’s energy transition.

 

 

 

“It also aligns with SDG 13.3 — building knowledge and capacity to combat climate change,” he added.

 

 

 

Chief Financial Officer, Mrs Eleanor Adaralegbe, said 2024 financials were buoyed by increased production, particularly SEPNU’s 19-day contribution.

 

 

 

Total revenue reached N1.652 trillion, reflecting strong output despite slightly lower oil prices.

 

 

 

Adjusted EBITDA was N796 billion, including $99 million from SEPNU, a 20.3 per cent rise on 2023.

 

 

 

“After $235 million in taxes, net profit stood at $145 million. We generated $383 million cash from operations,” Adaralegbe said.

 

 

 

She explained that the net debt rose to $898 million due to the acquisition of MPNU.

 

 

 

Seplat retained strong credit ratings and successfully refinanced its $650 million bond in March 2025.

 

 

 

“Our bond yield priced inside Nigeria’s sovereign bond—a first for Seplat.

 

 

 

“We anticipate further improvement in financial performance in 2025, as a larger and stronger company,” Adaralegbe said. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

Coronation Capital advises African entities on funding local projects
Business

Coronation Capital advises African entities on funding local projects

365 total views today

 

 

 

 

 

By Taiye Olayemi

 

Coronation Capital Ltd. on Saturday advised African entities to prioritise funding African projects for sustainable growth.

 

Its Managing Partner, Kayode Akindele, made the call while speaking with the News Agency of Nigeria in Lagos.

 

Akindele said that this was necessary as a result of overdependence on developmental money, which is not sustainable.

 

He emphasised the need for African-led funding to drive long-term progress, reducing dependence on external sources.

 

He said by supporting African projects, entities can foster economic independence, promote local innovation, and address specific regional needs.

 

“There has been an overdependence on developmental money; that isn’t sustainable.

 

“If Africa must set the agenda and ensure long-term progress, African entities need to fund African priorities.

 

“Family offices, in particular, must become strategic allocators, not just silent participants.

 

“We’re proud to stand with AVCA in pushing this narrative forward.”

 

Akindele said that to deepen conversation on this, Coronation Capital, in partnership with Trium, subsidiaries of Coronation Group Ltd., sponsored the 2025 African Private Capital Association (AVCA) Conference in Lagos.

 

He said the conference explored key themes such as the evolving role of family offices, climate-smart investing, infrastructure financing, and pathways to deepen institutional participation in Africa’s growth journey.

 

He noted that the sponsorship was a demonstration of the two companies’ commitment to driving Africa’s economic transformation through capital stewardship, innovation, and intergenerational financial strategies.

 

According to him, the conference, with the theme “Bold Moves: Powering 10x in Africa,” convened over 1,000 delegates from more than 50 countries across the private capital spectrum.

 

Also, Mr Adebayo Adewolu, Chief Executive Officer of Trium, highlighted the importance of context-specific investment vehicles led by African institutions.

 

Adewolu said, “Africa needs capital that understands its rhythm; it must be patient, strategic, and committed.

 

“The just concluded AVCA created a space where investment vision meets local insight.” (NAN) (www.nannews.ng)

 

Edited by Olawunmu Ashafa

Coronation reaffirms commitment to Africa’s growth
Business

Coronation reaffirms commitment to Africa’s growth

372 total views today

 

 

 

 

By Taiye Olayemi

 

Coronation Group has reaffirmed its dedication to Africa’s transformation, committing to impactful initiatives that support sustainable development and long-term prosperity across the continent.

 

 

 

Mr Wole Onasanya, Group Chief Executive Officer, stated on Sunday that Coronation will return as Gold Sponsor of the 2025 Africa CEO Forum.

 

 

 

He noted that the sponsorship aligns with Coronation’s vision for a thriving and prosperous Africa, driven by collaboration, innovation, and purpose-led leadership.

 

 

 

“Coronation Group is proud to return as a Gold Sponsor of the Africa CEO Forum 2025,” Onasanya said.

 

 

 

The Forum takes place on May 12 and 13 in Abidjan, Côte d’Ivoire, gathering top African business leaders and policymakers.

 

 

 

“This platform remains vital for shaping strategic dialogue, encouraging partnerships, and creating a shared vision for Africa’s economic future,” Onasanya said.

 

 

 

He added, “Our continued sponsorship reflects Coronation’s unwavering commitment to Africa’s progress and legacy-building efforts.

 

 

 

“We view ourselves as a prosperity partner, dedicated to sustainable wealth creation and meaningful economic transformation.

 

 

 

“The Forum offers a space for thoughtful engagement, collaborative leadership, and visionary ambition. We’re honoured to support it once again.”

 

 

 

Onasanya confirmed that Mr Aigboje Aig-Imoukhuede, Chairman of Coronation Group, will lead Coronation’s participation at the Forum.

 

 

 

Aig-Imoukhuede will feature in a headline one-on-one discussion on how African family-owned businesses can evolve from survival to generational legacy.

 

 

 

Paul Abiagam, Acting CEO of Coronation Merchant Bank, will also participate in a strategic panel on navigating the Cost of Capital Crisis.

 

 

 

The panel will explore how African businesses can respond to geopolitical shifts with innovation and opportunity-focused strategies.

 

 

 

“Coronation is dedicated to African-led financial solutions that unlock the continent’s potential,” Onasanya said.

 

 

 

He added that the Africa CEO Forum offers a vital stage for turning bold financial ideas into action.

 

 

 

“At the heart of our participation is craftsmanship — our ethos expressed through transformational financial services across Africa.

 

 

 

“It’s a belief we carry into every market, every partnership, and every opportunity,” he said.

 

 

 

Presidents from Côte d’Ivoire, Senegal, South Africa, Ghana, Rwanda, and Tanzania are expected to attend the Forum. (NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

Bank SMS charge increase: Customers opt for e-mails
Business

Bank SMS charge increase: Customers opt for e-mails

360 total views today

SMS
By Ginika Okoye

Some bank customers, especially those of Guaranty Trust Holding Company (GTCO) say they will opt for electronic mail alert from their banks to cut costs and reduce charges on their accounts.

Some of the customers who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said they would deactivate the Short Message Services (SMS) transaction alert linked to their accounts.

Mrs Dorathy Azinge, a customer of GTCO, described the increase in SMS charges as exploitative.

Azinge said that in spite of various transaction charges debited from her bank account on a daily basis, the bank still increased SMS charges.

”This move of increasing SMS charges is very exploitative even though they cited telecommunication charge.

”What about all the numerous unwarranted debits that I get from my account, and they are using telecommunication increase as yardstick to increase theirs.

”GT will remove different charges from my account until they give me minus balance,” she said.

Another GTCO customer, Ms Elizabeth Abu, said she would visit her bank to opt for her transaction alerts to be sent to only her e-mail address.

Abu who complained about the reduction in her capitalised interest on her account, said the numerous debits were becoming frustrating.

”It does not make sense for the bank to charge me for a transaction I did and also charge me for the alert they sent.

”It means that customers are the ones paying heavily for all these services.

” These charges are reflecting on the profits declared by these banks and we are the ones paying for this,” she said.

Mr Clement Arubu, a customer with First HoldCo Plc, said he received various transaction debit alerts from his bank totalling N1, 050 monthly.

Arubu said the debits were huge, especially when calculated between 10,000 customers of the bank.

”Most customers receive these alerts and neglect them because to them, the money is small but when you debit the same money from about 10,000 customers then, you can be sure that the money is huge,” he said.

Mrs Catherine Itoha, a customer of GTCO, said the bank had yet to reverse over N20,000 debited from her account through various failed Point of Sale (PoS) transaction since about 11 months.

Itoha urged some banks and their staff to adopt principles of fair practice in handling their customers.

”Customers are the reason why banks are in existence so, we deserve to be treated fairly.

”GTB debited me in about four different transactions that I did but up till now, they did not reverse any of these monies.

”I visited the bank, filled forms, spoke to their staff personally but still the issue was not resolved since last year.

”If this money did not go to a staff, it means it is part of their profit,” she alleged.

Mrs Esther Arthur, a Fidelity Bank customer alleged that some of the banks were making profits from charges on customers for their transactions.

Arthur described the situation as sad and frustrating

”I withdrew N10,000 from a First Bank Automated Teller Machine (ATM) and the machine showed me that I will be charged N100 because it wasn’t my bank.

”When I finished the transaction, to my greatest surprise an alert came into my phone and when I checked it, it was an alert of N630.00 against the N100 on-site ATM charges that the Central Bank of Nigeria (CBN) instituted.

”This is so sad,” she said.

Mr Augustine Ode, a Zenith Bank customer, appealed to the CBN to check excesses of some banks that were allegedly defrauding customers.

The News Agency of Nigeria (NAN) reports that GTCO had informed its customers of the SMS transaction alert fee increase from N4 to N6 per message.

The bank had said that the adjustment was due to a recent increase in telecom rates.

GTCO also informed its customers who preferred not to receive transaction alerts via SMS, to update their preferences by completing the transaction alert form on the bank’s website and send to gtbankmailsupport@gtbank.com. (NAN)

Edited by Ese E. Eniola Williams

CFG Africa introduces Naira fixed income fund  
Business

CFG Africa introduces Naira fixed income fund  

366 total views today

 

By Olawunmi Ashafa

 

As a response to the growing need for stable and reliable investment opportunities in the nation’s dynamic economic landscape, CFG Africa has introduced the GFG AM Naira Fixed Income Fund.

 

The launch event, which took place in Lagos on Wednesday, gathered key stakeholders, investors, and the CFG Africa leadership team.

 

The CFG AM Naira Fixed Income Fund is a managed open-ended unit trust scheme designed to provide investors with investment liquidity, diversification, and competitive returns through investments in high-quality Naira-denominated fixed income securities.

 

This fund is tailored for individuals, corporates, high net worth investors, and institutions seeking stable and reliable investment growth.

 

Speaking during the launch, Mr Babajide Lawani, the Managing Director of CFG Africa Ltd., emphasised the strategic importance of the Fund.

 

“The introduction of the CFG AM Naira Fixed Income Fund is a deliberate step in expanding our capacity to serve a broader spectrum of investors.

 

“It allows us to channel capital into stable, Naira-denominated assets, contributing to a more resilient and inclusive financial market in Nigeria.

 

“This launch demonstrates our proactive approach to addressing market dynamics and providing solutions that meet the long-term investment goals of our clients.

 

“We believe this fund offers a crucial avenue for Nigerians to participate in stable investment opportunities, contributing to their financial well-being and the broader economic landscape.”

 

Also, Mr Adedoyin Wilson-Diamond, Chief Investment Officer of CFG Africa Ltd., added, “In a dynamic economic environment, preserving capital and achieving consistent returns are paramount.

 

“The CFG AM Naira Fixed Income Fund has been meticulously structured to navigate market fluctuations and deliver competitive yields through prudent investment in quality Naira-denominated assets.

 

“Our active management approach will ensure we capitalise on opportunities while effectively managing risk,” he said.

 

CFG Africa views the current macroeconomic landscape as an opportune moment to introduce such a fund, providing a hedge against volatility while offering consistent returns.

 

The fund’s assets will be held by an independent custodian, Rand Merchant Bank Ltd., with AVA Trustees Ltd. acting as the independent trustee, ensuring the highest standards of security and governance.

 

CFG Africa remains committed to providing innovative and accessible financial solutions that empower individuals and institutions to achieve their financial goals. (NAN)

 

Edited by Folasade Adeniran

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