Deals and Advisory Report

Focusing on Guaranty Trust Holding Company Plc (GTCO), we explore the company's approach so far, to meet the ₦500B capital requirement, including a $105M equity offering and listing on London Stock Exchange. cc: @princewill_og linkedin.com/pulse/lagos-lon…

The Bank of Industry Limited(BOI), Nigerian development finance institution, has secured a US$30 million financing facility from Agence Française de Développement (AFD), the French public development finance institution, to expand access to capital for businesses across Nigeria’s cultural and creative industries. At least 90% of the facility is earmarked for Micro, Small and Medium Enterprises (MSMEs), with particular focus on women-led and youth-led businesses. The financing targets businesses operating across the film, music, fashion, design and gaming industries, sectors that have continued to face challenges accessing institutional financing despite their contribution to enterprise development and employment. Alongside the credit facility, the transaction includes a €500,000 technical assistance programme to strengthen BOI’s capacity to understand and address the financing needs of creative businesses. The programme will support the development of sector-specific financial products, improve environmental and social risk management frameworks, and enhance the capacity of BOI personnel to assess and finance businesses within the sector. The financing is expected to support the growth of Nigeria’s creative economy, broaden access to formal credit and create employment opportunities, particularly among young people and women. Duale, Ovia & Alex-Adedipea acted as legal counsel to BOI, with its team comprising Partner Adeniyi Duale, Managing Associate Tomiwa Ogunbanwo, Senior Associate Chukwuebuka Okoli-Akirika, and Associates Wuraola Oyeniyi and Adedolapo Funmilayo. Udo Udoma & Belo-Osagie acted as Nigerian legal counsel to AFD. The firm's team was led by Banking and Finance Partner Yinka Edu, with support from Senior Associate Chisom Okolie and Associates Toluwalope Adedokun, Adekunle Abiona and Iheoma Njoku.

The International Finance Corporation (@IFC_org ), a member of the World Bank Group, has committed up to US$50 million equivalent as an anchor investor in the Bank of Industry's ( @BOINigeria ) ₦274.19 billion Series 1 Development Bond, alongside a separate US$50 million senior loan to the Nigerian development finance institution. The investment forms part of an IFC financing package of up to US$100 million approved for BOI, combining participation in the domestic debt capital market with direct lending to expand the institution's capacity to finance micro, small and medium-sized enterprises (MSMEs). BOI's inaugural domestic bond issuance, which closed in September 2026, was initially targeted at ₦250 billion but was increased to ₦274.19 billion following strong institutional investor demand. The five-year fixed-rate instrument, carrying a coupon of 17.60% and due in 2031, was issued through BOI Financing SPV Plc under the bank's US$1 billion Multi-Currency Instruments Programme. IFC participated in the issuance alongside the Nigeria Sovereign Investment Authority (@NSIA), pension fund administrators, banks, development finance institutions and other institutional investors. At least 10% of the bond proceeds is earmarked for MSME financing. Chapel Hill Denham acted as Lead Issuing House, with Rand Merchant Bank Nigeria and FCMB Capital Markets also participating as Joint Issuing Houses. FCMB Capital Markets additionally acted as Bookrunner. The second component of IFC's investment package is a US$50 million senior loan with a seven-year tenor, which BOI and IFC formally signed on November 3, 2026, at the Africa Financial Industry Summit (AFIS) in Luanda, Angola. At least 25% of the loan proceeds will be dedicated to women-owned or women-led MSMEs. The facility will support BOI's lending activities across productive sectors, including manufacturing, agriculture, renewable energy and the creative industries. The two financing components are structured to strengthen BOI's access to longer-term funding while expanding the participation of domestic institutional investors in financing productive enterprises. IFC's anchor investment in the bond is expected to help mobilise additional private capital from pension funds, asset managers and other investors. Beyond the financing arrangements, IFC is exploring an advisory engagement with BOI covering women-owned MSME banking, corporate governance, environmental and social risk management, and sustainability reporting. BOI is 99.99% indirectly owned by the Federal Government of Nigeria through the Ministry of Finance Incorporated and the Central Bank of Nigeria. Established in its current form in 2001, the institution provides long-term financing, guarantees and advisory services to businesses across manufacturing, agribusiness, healthcare, the creative industries and other productive sectors. The investment adds to IFC's engagement with Nigeria's financial sector

DEAL MAKER SPOTLIGHT When Okechukwu “Okey” Enelamah co-founded African Capital Alliance (ACA) in 1997, private equity was still an emerging concept in Nigeria. Operating in a country under military rule, with international investors wary of its investment environment, building an institution capable of mobilising long-term capital was an ambitious undertaking. Nearly three decades later, ACA has raised more than US$1.2 billion in capital commitments and established itself as one of Africa's pioneering private equity and investment management firms. Enelamah's professional journey began in medicine. A graduate of the University of Nigeria, Nsukka, where he obtained his medical degree in 1985, he subsequently transitioned into finance, joining Arthur Andersen in 1988. He later obtained an MBA from Harvard Business School in 1994 before pursuing investment roles at Zephyr Management in New York and South Africa Capital Growth Fund, the predecessor to Brait. His return to Nigeria culminated in the establishment of ACA alongside Richard (Dick) Kramer, with the firm raising US$35 million for its first private equity fund, Capital Alliance Private Equity I (CAPE I), in 1998. Among ACA's early investments was MTN Nigeria, which began operations in 2001. The investment became one of the firm's most notable successes. According to ACA's records, MTN Nigeria's valuation increased from approximately US$400 million when the investment was made to US$13 billion by the time ACA exited its initial investment in 2012. Subsequent funds also participated in the telecommunications business. ACA's investment portfolio expanded across financial services, consumer businesses, energy, healthcare, education and technology. Its investment in Union Bank of Nigeria through its CAPE III. Another significant investment was Niger Delta Exploration & Production Plc, now Aradel Holdings Plc. ACA initially provided an US$80 million financing facility in 2016, which was subsequently converted into equity. Following Aradel's listing on the Nigerian Exchange in October 2024, ACA's Capital Alliance Private Equity IV completed its full divestment in September 2025, selling its 15.92% holding for approximately ₦387.2 billion. The exit delivered a reported 3.4x return in US dollar terms. Enelamah served as ACA's Chief Executive Officer from its establishment until 2015, when he was appointed Nigeria's Minister of Industry, Trade and Investment, a position he held until 2019. He subsequently returned to ACA as Chairman. Today, his career offers a perspective on the development of private equity in Nigeria, from the early challenge of attracting international capital, to building businesses, institutionalising investment management and realising value through strategic exits. #DealMakerSpotlight #AfricanCapitalAlliance #PrivateEquity #AfricanInvestments #DealsAndAdvisoryReport

Egypt has raised approximately US$658 million through the initial public offering of Banque du Caire, a state-owned commercial bank, marking the largest IPO in the history of the Egyptian Stock Exchange and a significant step in the country's privatisation programme. The transaction involved the sale of a 45% stake by Banque Misr, Banque du Caire’s state-owned parent, through an offering of 6.86 billion shares priced at EGP5.30 each. Following strong investor demand, the offer was increased from an initial 30% stake, with Banque Misr retaining 55% ownership. Investor demand reached approximately US$4.5 billion, representing around seven times the shares available. The institutional tranche was six times subscribed, while the public offering was oversubscribed 27 times. The offering also attracted participation from two development finance institutions. The International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) each invested US$100 million, bringing their combined investment to US$200 million. CI Capital Investment Banking acted as Lead Global Coordinator and Joint Bookrunner, while EFG Hermes acted as Joint Global Coordinator and Joint Bookrunner. Baker McKenzie advised Banque du Caire and Banque Misr, with Helmy, Hamza & Partners providing Egyptian legal counsel. The IPO forms part of Egypt’s broader state asset monetisation programme, which seeks to increase private-sector participation in the economy and deepen the country's capital markets.

African Capital Alliance (ACA) is seeking to raise between US$500 million and US$750 million for its fifth private equity fund, Capital Alliance Private Equity Fund V (CAPE V), as the International Finance Corporation (IFC) considers a proposed investment comprising up to US$30 million in fund equity and a separate US$20 million co-investment envelope. The proposed investment, disclosed by IFC on November 2, 2026, would make the development finance institution an anchor investor in CAPE V. The proposal remains pending approval, with an indicative Board date of January 31, 2027. CAPE V will target mid-market companies across sub-Saharan Africa, pursuing control and significant minority interests in businesses with established operating performance and the potential to become market leaders. The fund intends to build a portfolio of 10 to 15 companies, with individual investment sizes ranging from US$20 million to US$80 million. IFC's relationship with ACA dates back to 1999, when it invested in the manager's inaugural fund, Capital Alliance Private Equity Fund I (CAPE I), as part of its strategy to support the development of the private equity industry in Nigeria and across Africa. It subsequently invested in CAPE II, Capital Alliance Private Investments Company (CAPIC), CAPE III and CAPE IV. For CAPE IV, IFC approved a US$40 million equity investment in a fund targeting US$600 million in total commitments. The 10-year closed-end fund focused on growth companies in Nigeria and other countries along the Gulf of Guinea. If approved, IFC's proposed participation will extend a relationship spanning more than two decades and provide additional institutional backing for ACA's latest fundraising effort, as the manager seeks to deploy growth capital across a new portfolio of African mid-market businesses. Read the full report dealsandadvisoryreport.com/2… #PrivateEquity #Africa #Fundraising #Investment #IFC #AfricanCapitalAlliance

South Africa’s Nedbank Group Limited has completed its acquisition of a 66% controlling interest in Kenya’s NCBA Group PLC in a transaction valued at approximately US$855 million (R13.9 billion), marking a significant expansion of its banking operations into East Africa. The transaction, completed on 3 November 2026, attracted shareholder acceptances representing 79.88% of NCBA’s issued shares. Following the application of scaling and allocation arrangements, Nedbank acquired 1.087 billion shares, representing its targeted 66% stake. Consideration comprised 43.63 million newly issued Nedbank shares and a cash payment of KES23.23 billion (approximately US$180 million). NCBA will retain its listing on the Nairobi Securities Exchange, with approximately 34% of its shares remaining in public hands. Its existing brand, local leadership and independent governance structure will also be maintained. The acquisition gives Nedbank an established banking platform across Kenya, Uganda, Tanzania, Rwanda and the Ivory Coast, extending its reach beyond Southern Africa. Transaction advisers Nedbank’s advisory team included Nedbank Corporate and Investment Banking as exclusive investment bank, corporate adviser and transaction sponsor; Cliffe Dekker Hofmeyr Inc as legal adviser; and Dyer & Blair Investment Bank as Kenyan investment bank and stockbroker. On the NCBA side, NCBA Investment Bank Limited acted as investment bank adviser, while DLA Piper Africa, Kenya (IKM Advocates) served as legal adviser. The acquisition represents a major cross-border banking transaction, connecting Southern and East African financial markets through the combination of two established banking platforms. Read More: dealsandadvisoryreport.com/2… #DealsAndAdvisoryReport #MergersAndAcquisitions #Banking #Africa #CrossBorderTransactions

Verod is targeting US$250 million for its fourth private equity fund, Verod Capital Growth Fund IV LP, as the IFC - International Finance Corporation proposes an investment of up to US$15 million in the fund alongside a separate US$10 million co-investment envelope. The proposed IFC participation, disclosed on 28 October 2026, represents a potential US$25 million investment capacity associated with the fund. The proposed equity commitment and co-investment envelope are subject to the applicable IFC approval process, with the project scheduled for consideration by IFC's Board of Directors on 27 November 2026. The project is currently listed as pending approval. Verod Capital Growth Fund IV will pursue a generalist growth equity strategy, targeting small- and mid-cap companies across five West African markets: Nigeria, Ghana, Côte d'Ivoire, Senegal and Cameroon. The fund intends to deploy up to 100% of its committed capital predominantly across these markets. IFC's proposed US$15 million equity investment will not exceed 20% of the fund's total committed capital. The additional US$10 million co-investment envelope is structured separately and will enable IFC to participate directly in selected investments alongside the fund. This arrangement could provide additional financing capacity for portfolio companies beyond the capital deployed through the fund itself. The proposed investment is also expected to receive support through IFC's Concessional Capital Window for IDA21, introducing a blended-finance component to the transaction. Verod Capital Growth Fund IV will be sponsored by Verod Holdings Limited and managed by Verod Capital Partners III, a Mauritius-based fund manager licensed by the Financial Services Commission of Mauritius. The fund manager will receive investment advisory services from Verod Capital Management Limited. The fund is structured as an exempted limited liability partnership under the laws of Mauritius. The proposed investment in Growth Fund IV follows IFC's earlier participation in Verod Capital Growth Fund III.

Africa’s largest bank by assets, Standard Bank Group, has joined Africa Finance Corporation (AFC) and Shell Western Supply and Trading Limited in providing US$600 million in secured reserve-based lending facilities to Vaaris Resources JVCo Limited to part-finance its US$800 million acquisition of TotalEnergies EP Nigeria Limited’s 10% participating interest in the Renaissance Joint Venture (JV). The financing comprises a US$500 million senior facility and a US$100 million junior facility. Structured as reserve-based lending, the facilities are secured against the underlying upstream assets, with the borrowing base linked to the value of the oil and gas reserves and their expected production cash flows. Banwo & Ighodalo and Latham & Watkins advised on the financing. Latham & Watkins’ team was led by London Finance Partner Tom Bartlett, alongside Associates Nassef Ghazy and Shelby Lee. Bracewell also advised Vaaris Resources JVCo Limited on the facilities, with a team comprising Partners Eimear Murphy and Adam Blythe, Counsel Leslie Hansen, Senior Associate Onis Chukwueke-Uba, and Associates Thomas Howard and Olivia Wynne-Thomas. The financing supports Vaaris’ US$800 million acquisition of TotalEnergies’ 10% non-operated participating interest across the 18 licences held by the Renaissance JV in Nigeria’s Niger Delta. The acquisition completed on 27 October 2026. Under the transaction, Vaaris acquired the participating interest across all 18 licences, while TotalEnergies retained the full economic interest in three gas-producing licences, OML 23, OML 28 and OML 77, which currently account for approximately 50% of Nigeria LNG’s gas supply.

MTN Nigeria Communications Plc has appointed five new directors to its board, comprising two Independent Non-Executive Directors and three Non-Executive Directors, with the appointments taking effect on 1 December 2026. The appointments, announced in a notice to the Nigerian Exchange Limited (NGX) on 3 November 2026, include Ibrahim Dikko and Boye Olusanya as Independent Non-Executive Directors, alongside Professor Fabian Ajogwu, Imoni Akpofure and Lwazi Bam as Non-Executive Directors. The incoming directors bring experience across telecommunications, financial services, infrastructure investment, corporate governance, professional services and business management. Dikko has over 30 years of experience across banking, telecommunications, information and communications technology, and regulatory advisory. He previously chaired First Securities Discount House Limited from 2002 to 2012 and served as Vice President, Regulatory and Corporate Affairs at Emerging Markets Telecommunications Services Limited, formerly Etisalat Nigeria, between 2007 and 2017. Olusanya is the Group Chief Executive Officer of FMN Holdings Limited, where he leads the group's business transformation. His career spans more than 25 years across the consumer goods, agriculture, telecommunications, technology, energy, infrastructure and financial services sectors. Ajogwu is a Senior Partner at Kenna LP, Senior Advocate of Nigeria, and Professor of Corporate Governance at Lagos Business School. His work in corporate governance includes assisting the Securities and Exchange Commission with drafting Nigeria's pioneering Code of Corporate Governance and serving on the Financial Reporting Council of Nigeria committee responsible for the National Code of Corporate Governance 2018. Akpofure has nearly three decades of experience in finance, infrastructure and sustainability, including senior roles at the International Finance Corporation, CDC Group, now British International Investment, and KINA Advisory. She currently serves on the boards of Africa50 and the Development Bank of Nigeria. Bam joined MTN Group as Group Chief Risk Officer in June 2026. He previously served as Chief Executive Officer of Deloitte Africa and Deloitte Southern Africa from 2012 to 2022, having spent nearly three decades with the professional services firm. His subsequent board experience includes Standard Bank Group and Valterra Platinum. He currently serves on the boards of Woolworths Holdings Limited and ZEDA Limited.

Eni has completed the sale of Agip Energy and Natural Resources (Nigeria) Limited (AENR) to Apex Global Energy Limited, a wholly owned subsidiary of Sterling Oil Exploration and Energy Production Company Limited, transferring its 5% interest in Nigeria’s Renaissance joint venture. The Italian energy group announced on 26 October 2026 that the transaction had received all relevant regulatory approvals. AENR is a wholly owned subsidiary of Eni engaged in onshore and shallow-water hydrocarbon exploration and production in Nigeria. Its disclosed interest in the Renaissance JV comprises a 5% participating stake in a portfolio of 18 licences in the Niger Delta. The joint venture's interests comprised Nigerian National Petroleum Company Limited (NNPC) with 55%, Renaissance Africa Energy Company Limited with 30%, TotalEnergies EP Nigeria with 10% and AENR with 5%. Renaissance Africa Energy is the operator. The acquisition adds AENR's interest in the joint venture to Sterling's Nigerian upstream portfolio through Apex. Sterling is an indigenous oil and gas operator with established onshore operations in Nigeria. The transaction adds to a broader shift in the ownership of Nigeria's onshore oil and gas assets, as international oil companies continue to divest selected interests to Nigerian operators and investor groups. The Renaissance JV itself underwent a major ownership change in March 2025, when Shell completed the sale of its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance. Renaissance is a consortium comprising four Nigerian exploration and production companies longside international energy group Petrolin. Following completion, SPDC was renamed Renaissance Africa Energy Company, which assumed the operating role previously held by Shell's subsidiary. The acquisition transferred Shell's 30% participating interest in the joint venture to Renaissance, placing an indigenous-led consortium in charge of the onshore and shallow-water business. The subsequent disposals by Eni and TotalEnergies further alter the composition of the venture's ownership. On 27 October 2026, TotalEnergies announced that it had completed the US$800 million sale of its 10% non-operated interest in the Renaissance JV licences to Vaaris, another Nigerian company. For Eni, the AENR sale aligns with its strategy of optimising its upstream portfolio and divesting non-strategic assets. The company said it would maintain its Nigerian presence through the exploration and development of deep offshore assets and its participation in Nigeria LNG. The latest transaction marks another step in the restructuring of Nigeria's onshore oil and gas sector, where indigenous operators and investor groups have assumed greater ownership of assets historically held by international oil companies.

Standard Chartered has acted as sole financial adviser to Shell International Limited on its agreement to sell Shell Nigeria Gas Limited (SNG) to Vaaris Energy Limited, advising on the divestment of an established gas distribution platform serving Nigeria’s industrial and commercial customers. The sale agreement was signed on 13 October 2026, with completion expected in the first half of 2027. Standard Chartered managed the end-to-end sell-side advisory process, covering transaction preparation and positioning, buyer engagement, deal structuring, negotiations, due diligence coordination and transaction documentation. The latest appointment extends the bank’s involvement in Shell’s Nigerian portfolio divestments, this time involving the sale of its domestic gas distribution business. The mandate follows Standard Chartered’s role as financial adviser to Shell plc on the sale of its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, which completed in March 2025. Commenting on the transaction, Dalu Ajene, Chief Executive Officer and Head of Coverage for Africa at Standard Chartered, highlighted the importance of investment in energy infrastructure to Nigeria’s economic ambitions and growing domestic gas demand. He noted that connecting clients across Africa to global capital and investors remains a priority for the bank. Yemisi Deji-Bejide, Head of Mergers and Acquisitions for Africa at Standard Chartered, said the mandate demonstrated the bank’s ability to combine M&A execution capabilities, sector expertise and buyer connectivity in complex transactions. SNG supplies gas to industrial and commercial customers through its distribution infrastructure. The transaction adds to Standard Chartered’s involvement in Nigeria’s gas sector in 2026. The bank also played a leading role in the financing of the Ima gas development project, acting as financial adviser, global coordinator, lead arranger and bookrunner on approximately US$1.1 billion in financing for the development of the offshore non-associated gas field operated by TotalEnergies EP Nigeria, alongside AMNI International Petroleum Development Company.

TEMPLARS' Deputy Managing Partner Chike Obianwu and Partner Dupe Dabiri have led the firm's advisory work on two major transactions involving the Renaissance joint venture, with the firm acting on the sell side for TotalEnergies EP Nigeria in its US$800 million divestment of a 10% participating interest and on the buy side for SEEPCo subsidiary Apex Global Energy on its acquisition of Agip Energy and Natural Resources (AENR), which holds a 5% interest in the venture. The transactions mark another stage in the transfer of interests in the former Shell Petroleum Development Company joint venture to indigenous ownership. The Renaissance JV, which took over Shell's interest in the business in March 2025, comprises Nigerian independent energy companies Renaissance Africa Energy Company, ND Western, Aradel Holdings, First E&P and Waltersmith. The subsequent transactions involving TotalEnergies and Eni's interests further reshape the venture's ownership. On the sell side, Dabiri led the TEMPLARS team advising TotalEnergies on the sale of its interest to Vaaris Resources JVCo. The team included Senior Associate Adebimpe MacGregor and Associates Adefunlola Adele-Adewole and Ajoke Bodunde. Partner Sesan Sulaiman provided tax support, while Partner Zelda Akindele led the competition law work, supported by MacGregor. On the buy side, Obianwu and Dabiri led the team advising Apex Global Energy, a wholly owned subsidiary of Sterling Oil Exploration and Energy Production Company (SEEPCo), on its acquisition of 100% of AENR from Italian energy group Eni. The team also included MacGregor, Mariam Adebayo and Feranmi Abodunrin, with additional support from the firm's dispute resolution and competition practices. These mandates add to the firms work in Nigeria’s upstream oil and gas sector, with the firm advising on transactions involving both international oil companies divesting Nigerian assets and indigenous energy players expanding their interests.

TotalEnergies has completed the sale of its 10% participating interest in Nigeria’s Renaissance joint venture, formerly known as the SPDC JV, to Vaaris for US$800 million. The transaction marks another development in the changing ownership of Nigeria’s onshore oil and gas assets. In March 2025, Renaissance Africa Energy Company completed its acquisition of Shell’s former SPDC business. TotalEnergies has now transferred its participating interest to Vaaris, while Eni has completed the sale of Agip Energy and Natural Resources Nigeria Limited, which holds a 5% interest in the JV, to Apex Global Energy, wholly owned by Sterling Oil Exploration & Energy Production Co. Ltd. The TotalEnergies divestment covers 18 licences in the Niger Delta, including 15 that produce mainly oil. The French energy group will retain the full economic interest in three gas-producing licences, OML 23, OML 28 and OML 77, which currently account for approximately 50% of Nigeria LNG’s gas supply. Scotiabank - Global Banking and Markets acted as sole financial adviser. Nigerian legal, tax and competition counsel was provided by TEMPLARS led by Partner Dupe Dabiri, supported by Senior Associate Adebimpe MacGregor (Beetee) and Associates Gracia Bonire and Theo Eke . Partner Sesan Sulaiman and Senior Associate Chibuike Ikefuna LL.B, ACTI provided tax advice, while Partner Zelda Akindele advised on competition law. International legal counsel was provided by Jones Day led by Energy Partner Mohamed Mahjoubi and M&A Partner Audrey Bontemps, with Partners Carine Mou Si Yan, Sion Richards and Barnaby Stueck; Of Counsel; and associates Cyril Cotterall-Debay, Anton Malakhov, Adnene Gargouri, India Rand and Diana Harapu. The transactions highlight the continuing reshaping of Nigeria’s upstream petroleum sector as international oil companies divest interests in established assets and new buyers take on a greater role in the country’s onshore oil and gas industry. Read the full report on Deals & Advisory Report. lnkd.in/e9xgYC8S #DealsAndAdvisoryReport #Nigeria #OilAndGas #Energy #MergersAndAcquisitions

Nine Nigerian law firms feature in Law.com International’s Africa Top 30 by Headcount 2026, reflecting Nigeria’s representation among the continent’s largest legal practices. Aluko & Oyebode leads the Nigerian firms at No. 8 with 206 lawyers, while Templars and Olaniwun Ajayi rank 10th and 11th, respectively. This year’s ranking also marks KENNA’s debut on the continental list at No. 21, with a reported headcount of 103 lawyers, including 9 partners. : SEE FULL RANKING : linkedin.com/posts/deals-and… #DealsAndAdvisoryReport #AfricanLawFirms #Nigeria. Source:

9 Nigerian law firms feature in Law.com International’s Africa Top 30 by Headcount 2026, reflecting Nigeria’s representation among the continent’s largest legal practices. See more: linkedin.com/posts/deals-and…

Nigerian cocoa exporter, Sunbeth, is seeking up to ₦150bn across its pilot Series 1, 2 and 3 CP offer. The company accounts for an estimated 20% of Nigeria’s cocoa exports & reported revenue exceeding ₦600bn in 2025. dealsandadvisoryreport.com/2…

The Africa Finance Corporation (AFC) has appointed CBN Governor Olayemi Cardoso as Board Chair. Nigeria holds a 39.1% stake in AFC through the CBN, with Nigerian financial institutions collectively accounting for over 70% of the corporation’s share capital.

Four global law firms have been named in OPay Limited’s application for a proposed initial public offering (IPO) in the United States, according to its registration statement filed with the US Securities and Exchange Commission on October 9, 2026. dealsandadvisoryreport.com/2…

Nigeria’s banking and financial services sector recorded significant deal activity in the third quarter of 2026. The latest review by Deals and Advisory Repor texamines the transactions, financing mandates and policy developments that defined the period. dealsandadvisoryreport.com/2…

OPay has filed for a NYSE IPO, disclosed a proposed Standard Bank up to investment of up to US$200m, and outlined plans for an NGX secondary listing. Revenue hit US$536.3m in 2025, up 161%. dealsandadvisoryreport.com/2…