Business

Cardoso, Okonjo-Iweala to Headline 7th Africa Emerging Markets Forum

Published

1 month ago

July 27, 2026

Preport

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, and the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, will headline a high-level fireside dialogue at the 7th Africa Emerging Markets Forum in Abuja.

Scheduled for July 29–30, 2026, at the CBN Headquarters, the prestigious gathering will bring together global central bankers, finance ministers, and leading economists to tackle practical policy responses to growing global economic uncertainties.

The event which will be hosted by the CBN in collaboration with the EMF and the Centre for the Study of the Economies of Africa (CSEA), the 7th Africa Emerging Markets Forum will convene senior policymakers, central bankers, ministers, development partners, private-sector leaders and leading economists from Africa and around the world to examine practical policy responses to an increasingly uncertain global economic environment.

Held under the theme “Building Resilience Amidst Geoeconomic Uncertainties,” the 7th Africa Emerging Markets Forum will be headlined by the Cardoso–Okonjo-Iweala fireside dialogue, which will explore how African economies can build resilience, sustain reform momentum, deepen regional integration and unlock long-term growth amid an increasingly fragmented global economy.

The 7th Africa Emerging Markets Forum will also feature ministerial keynote addresses by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and the Minister of Science, Technology and Innovation, Dr Kingsley Udeh, underscoring the importance of coordinated fiscal, monetary and innovation policies in advancing Africa’s economic transformation and long-term resilience.

Other distinguished participants include Indermit Gill, Chief Economist and Senior Vice President for Development Economics at the World Bank Group; Harinder Kohli, Founding Director and Chief Executive of the Emerging Markets Forum; Professor Adamu Ahmed, Vice-Chancellor of Ahmadu Bello University; alongside senior policymakers, academics, development partners and business leaders from across Africa and beyond.

Over two days, participants will examine a wide range of issues critical to the future of emerging markets, including macroeconomic stability, regional economic integration, cross-border payments, financial technology, infrastructure, foreign direct investment, technology transfer, artificial intelligence, and the interconnected challenges of food price volatility, inflation and monetary policy transmission in fragile and post-crisis economies.

According to the organisers, the 7th Africa Emerging Markets Forum aims to foster open dialogue on issues of strategic importance to emerging markets and developing economies while identifying practical policy solutions that can be adapted to the unique circumstances of individual countries.

The Forum underscores the shared commitment of the Central Bank of Nigeria and its partners to strengthening regional cooperation, advancing evidence-based policymaking and promoting innovative solutions that enhance Africa’s resilience and support sustainable, inclusive economic growth.

The post Cardoso, Okonjo-Iweala to Headline 7th Africa Emerging Markets Forum appeared first on Business Today NG.

Related Topics:7th Africa Cardoso Emerging Forum Headline markets OkonjoIweala

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BREAKING: Dangote Refinery sets minimum subscription for $1.6 billion IPO

Published

6 hours ago

September 7, 2026

Preport

Dangote Refinery has completed the endorsement of the offer documents for its initial public offering, putting it on course to launch the $1.6 billion public equity sale, regarded as Africa’s largest ever, next week.

Aliko Dangote, Africa’s richest man and owner of the 700,000 barrel-per-day (bpd) plant, led the sign-off ceremony in Lagos on Monday in the presence of advisers and other parties to the pan-African offering, which aspires to source about N2.2 trillion from investors.

The minimum subscription of the offer is 10 ordinary shares, translating to N5,250, Mr Dangote told the event.

Lagos-based Vetiva Advisory Services Limited is coordinating the capital raise.

The ceremony follows a key approval by the capital market regulator, the Securities and Exchange Commission (SEC), last week, with 4.1 billion shares up for subscription at N525 ($0.40) per unit.

The maiden share offer values the refinery at nearly $50 billion, and plans to plough the proceeds into doubling the current capacity of the facility, which lies on a 6,180-acre expanse on the outskirts of Lagos, to 1.4 million bpd.

That could lift the market capitalisation of the Nigerian Exchange by more than one third when the shares are listed on the local bourse later this year.

A cross-border listing on the Johannesburg Stock Exchange, the continent’s biggest bourse, is in the works, just as the company is giving thought to quoting the stock in Egypt, Kenya, Ghana and Rwanda.

In July, a private placement heralding the IPO raised $2.5 billion from institutional investors and HNIs, oversubscribed by 270 per cent.

Unmet demand from the private share sale could find its way into the IPO, which, long before its approval was announced, had drawn vast interest across Nigeria, where the SEC was impelled in June to stop all the marketing related to the share sale.

The regulator’s action followed reports that many retail investors, including those with little or no knowledge of how equity investment works, were already opening trading accounts ahead of the IPO.

Nevertheless, investor appetite is growing fast beyond retail level, with Abu Dhabi National Oil Co (ADNOC) which according to Bloomberg on Monday, was said to have opened conversations with the refinery towards buying a stake in it.

The global media outlet, citing interviews with sources, noted that an insider at ADNOC said Dangote Refinery has also received approaches from other big investors.

READ ALSO: AFC leads investment in Dangote Refinery’s $2.5bn private placement

Potential model for aspiring companies

The IPO’s launch on 14 September will ride on the improved liquidity Nigeria expects to attract from foreign portfolio capital, following the country’s restoration to frontier market status by FTSE Russell after a near-three-year downgrade that bogged it down under unclassified market status, consequently deterring international investors.

Likewise, an IPO on this scale could offer a template to similarly big Nigerian companies raring to become public quoted firms and, by so doing, unlock access to financing through the capital market.

State-owned energy company NNPC Limited has been fiddling with the idea of going public and holding an IPO since 2021 after transitioning into gaining limited liability status, reviving the talks around the push last November.

The company, whose public image has long been marred by opacity in its operations and lack of transparency in publishing its accounts, may borrow a leaf from Dangote Refinery’s listing.

In June, the refinery, which commenced production in January 2024, toppled the US to become the biggest external supplier of jet fuel to Europe, maintaining the feat in July.

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Business

NGX N-Zero Begins Corporate Climate Baseline Assessments

Published

22 hours ago

September 6, 2026

Preport

Nigerian Exchange Group (NGX Group) has commenced corporate baseline assessments under its N-Zero initiative, marking the next phase of its effort to help Nigerian businesses strengthen climate readiness, develop credible net-zero pathways and position for emerging opportunities in climate-aligned capital.

Launched in January in partnership with DEG Impulse gGmbH and Africa Foresight Group (AFG), N-Zero is designed to support companies in moving from climate ambition to practical action by strengthening their capabilities in climate strategy, emissions measurement, transition planning and access to emerging carbon-market opportunities.

The baseline assessment will establish each participating company’s starting point and provide a structured view of its readiness across key areas, including climate-risk management, emissions measurement and reporting, target-setting, transition planning, technical capabilities and understanding of carbon-market opportunities. The findings will identify priority gaps and inform tailored support for each company.

Since its launch, N-Zero has engaged more than 50 companies across key sectors of the economy, with 17 formally onboarded as community members and more than 100 companies receiving the baseline survey. Current community members include Access Holdings, Dangote Cement, United Bank for Africa, Stanbic IBTC Holdings, First HoldCo, Fidelity Bank, Zenith Bank, Wema Bank, NEM Insurance, Chapel Hill Denham, BUA Cement, Caverton Offshore Support Group, Presco, Oando, HBM Nigeria, Seplat Energy and Skyway Aviation Handling Company, with further companies being engaged as the initiative expands.

Commenting on the development, Temi Popoola, GMD/CEO, NGX Group, said:

“The transition to a net-zero economy is increasingly becoming a factor in competitiveness, investor confidence and access to capital. Nigerian businesses therefore need to move beyond climate ambition to demonstrate measurable and credible progress. N-Zero is designed to help companies understand where they stand today, identify the gaps that matter most and build practical pathways towards where they need to be. The baseline assessment is a critical step because it gives us the evidence and insight required to tailor support and help participating companies turn climate intent into measurable action and long-term value.”

Following the baseline exercise, companies will undergo needs assessments combining digital diagnostics with expert technical review to determine their readiness levels, identify priority gaps for intervention and define the next steps towards credible climate targets, transition plans and implementation.

N-Zero is structured as a progression from awareness and assessment to target setting, transition planning, validation, implementation and impact tracking. This approach is intended to help companies strengthen internal capabilities while identifying commercial opportunities arising from the transition to a lower-carbon economy.

Under the 2026 roadmap, baseline analysis and initial needs assessments are expected to conclude in September, followed by partner-led sessions and tailored support packages in October and November. The broader programme targets include supporting participating companies to develop science-aligned targets and transition plans, assess emissions-reduction potential, facilitate eligible carbon-offsetting projects and track progress towards the reduction or avoidance of approximately 20,000 tonnes of carbon-dioxide-equivalent (tCO₂e) emissions.

For NGX Group, the initiative also supports the development of a more climate-ready corporate sector and a capital market better positioned to respond to the risks and opportunities associated with the global transition to a lower-carbon economy.

As N-Zero enters this next phase, its focus is clear: establishing a measurable baseline for corporate climate readiness and helping Nigerian businesses move from commitment to credible, verifiable action.

The post NGX N-Zero Begins Corporate Climate Baseline Assessments appeared first on Business Today NG.