Business

IMO Joins AACE To Boost African Trade

Published

2 years ago

December 5, 2024

OCHEFA

661 Views

International Maritime Organization (IMO) has joined States of the African Alliance for Electronic Commerce (AACE) to support work on ‘The Role of Single Windows and Digitalization in Boosting African Trade.

The members of AAEC are: Burkina Faso, Cameroon, Djibouti, Cote d’Ivoire, Gabon, Mauritius, Kenya, Libya, Morocco, Madagascar, Mali, Mozambique, Nigeria, Republic of Congo, Senegal and the WAEMU Commission.

This was disclosed by the Organization at a workshop held in Casablanca, Morocco (4 December). During the workshop, the participants learned about the 2022 amendments to IMO’s FAL Convention, which now mandates the electronic exchange of mandatory data in ports for the completion of formalities.

Since 1 January 2024, all IMO Member States are required to use a centralized digital platform or ‘Maritime Single Window’ to collect and exchange information with vessels when they dock at ports.

The workshop will boost States’ ability to implement a MSW, which aims to significantly reduce time and costs associated with port procedures and thereby enhance the efficiency of shipping worldwide.

The workshop was organized by the AACE in partnership with the Moroccan Single Window, Portnet SA.

Business

Dangote Performs Opening Gong Ceremony At NGX, Present Facts Behind the Offer

Dangote brings his Dangote Petroleum Refinery’s IPO for listing on the exchange.

Published

34 minutes ago

September 14, 2026

OCHEFA

7 Views

The trading floor of the Nigeria Exchange Limited (NGX) is agog this morning as billionaire industrialist,Aliko Dangote, declared opened trading activities for the day.

Dangote brings his Dangote Petroleum Refinery’s IPO for listing on the exchange.

He is currently making the Facts Behind the Offer Presentation and unpacking the numbers, the offer and the significance of this transaction for Nigeria and the continent.

Details soon..

Business

Naira Exchange Rates To Dollar, Pound , Euro… September 14

Published

2 hours ago

September 14, 2026

OCHEFA

9 Views

BLACK MARKET

US DOLLAR ₦1385

POUND (GBP) ₦1880

EURO (EUR) ₦1580

CANADIAN DOLLAR (CAD) ₦1000

SOUTH AFRICAN RAND (ZAR) ₦90

UAE DIRHAM (AED) ₦370

CHINESE YUAN (CNY) ₦190

GHANA CEDI (GHS) ₦100

Central Bank of Nigeria Rates

DOLLAR (USD)₦1326.52

POUND (GBP)₦1794.52

EURO (EUR)₦1540.22

SWISS FRANC (CHF)₦1627.83

JAPANESE YEN (JPN)₦8.64

CFA FRANC (XOF)₦2.34

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1811.58

CHINESE YUAN (CNY)₦197.74

SAUDI RIYAL (SAR) ₦353.20

SOUTH AFRICAN RAND (ZAR) ₦82.24

Business

Dangote Refinery’s IPO Officially Opens Today On NGX

Published

3 hours ago

September 14, 2026

OCHEFA

9 Views

Dangote Petroleum Refinery & Petrochemicals FZE today announced the commencement of its Initial Public Offering (IPO) to the investing public.

The offer will be formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) Limited in Lagos.

The IPO, which opens today, September 14, 2026, consists of 4.1 billion new ordinary shares offered at N525 per share, with a minimum subscription of 10 shares valued at N5,250.

The offer is expected to remain open until October 13, 2026, subject to the terms outlined in the Prospectus. The transaction is targeted at retail, institutional, and eligible African investors, reinforcing Dangote Refinery’s commitment to broadening ownership and deepening participation in Nigeria’s capital market.

The public offer is expected to raise approximately N2.15 trillion, making it one of the largest equity offerings ever undertaken in Africa.

The proceeds will support the Refinery’s long-term growth plans, operational expansion, strategic investments, and the creation of additional value for shareholders and stakeholders alike.

Speaking on the significance of the IPO, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, said:“Today marks the beginning of a new chapter in the history of Dangote Refinery and, indeed, in the economic future of our nation. This offering is about more than raising capital; it is about creating an opportunity for ordinary Nigerians, Africans, and investors across the globe to participate directly in one of the most transformative industrial projects ever built on the continent.

We established this refinery to transform Africa’s energy landscape, create jobs, conserve foreign exchange, and unlock shared prosperity. With this IPO, we are extending that vision by democratising ownership and ensuring that millions of people can benefit from the value being created.”