Business
Stanbic IBTC Bank signs first international syndicated loan market transaction
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings Plc, which belongs to the Standard Bank Group, has secured its debut syndicated term loan facility. The one-year transaction that was led by MashreqBank psc as Coordinating Bank and sole Bookrunner, was oversubscribed. Stanbic IBTC closed the syndication within six weeks of launch at a competitive pricing threshold given the prevailing market conditions.
The 8-bank syndicate comprised of long-standing relationship banks of Standard Bank Group, Stanbic IBTC Holdings’ parent company, that included MashreqBank psc, The Commercial Bank (Q.S.C.) and ING Bank N.V. as Mandated Lead Arrangers & Bookrunners, while Al Ahli Bank of Kuwait K.S.C.P., Al Khaliji France S.A., Commerzbank Aktiengesellschaft, Filiale Luxemburg, Doha Bank Q.S.C. and SBM Bank (Mauritius) Limited participated in the Facility as Mandated Lead Arrangers. MashreqBank psc is also acting as the Facility Agent for the transaction.
In a statement, Chief Executive, Stanbic IBTC Bank, Yinka Sanni stated that “Stanbic IBTC Bank is delighted with the reception of the syndicate banks to its debut deal. We appreciate the confidence that the syndicate has in Stanbic IBTC, as it reinforces our market leadership position in corporate and transactional banking and our commitment to supporting Nigeria’s economic growth. It will also help to boost our operations in Nigeria in line with our business objective of organically growing our footprint in the retail banking space.
The deal is yet another successful transaction this year where Standard Bank’s partner banks have again endorsed their trust and confidence in the Standard Bank Group”.
Chiradeep Deb, Managing Director and Head of Corporate Finance at Mashreq, said: “It’s been a privilege to lead book run and coordinate the maiden syndicated loan transaction for Stanbic IBTC. To have a fully subscribed deal in such challenging market conditions, against the backdrop of the fall in prices of commodities, is a testament to Stanbic IBTC’s financial strength and Standard Bank Group’s (SBG) strong relationship with its banking partners across the region. Mashreq values its long-standing association with SBG and it is a pleasure to feature in multiple financings for the Group’s subsidiaries in Africa.”
Dr Rassem Zok, CEO Standard Bank of South Africa, MENA stated that “This transaction has a special significance for us being the debut deal of Stanbic IBTC. We are delighted with the response received on this facility for our Nigerian subsidiary; this is yet another successful transaction this year where our partner banks have again endorsed their trust and confidence in the Standard Bank Group”.
Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings Plc, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group, to which Stanbic IBTC Holdings belongs,is the largest African bank by assets and market capitalization. It is rooted in Africa with strategic representation in 20 countries on the African continent, including South Africa. Standard Bank has been in operation for over 153 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.
Renewed Hope Ambassadors Inspect RHA Secretariat
Renewed Hope Ambassadors, led by its Director-General and the Governor of Imo State, Hope Uzodinma, alongside Zonal Coordinators (NW, NC, SE), the Media & Publicity Directorate, and other key stakeholders, inspected the RHA Secretariat two days after President Bola Tinubu unveiled the Renewed Hope Ambassadors grassroots engagement drive in Abuja.
Harmony Gardens’ Ibeju-Lekki Portfolio Crosses $1bn
Harmony Garden & Estate Development Limited has expanded its development activities across Ibeju-Lekki, pushing the projected long-term value of its estate portfolio beyond $1 billion.
Led by Chief Executive Officer Hon. Dr. Audullahi Saheed Mosadoluwa, popularly know Saheed Ibile, the company is developing seven estates within the Lekki–Ibeju corridor. Details available on Harmony Garden & Estate Development show a portfolio spanning land assets and ongoing residential construction across key growth locations.
A major component is Lekki Aviation Town, where urban living meets neighborhood charm, located near the proposed Lekki International Airport and valued internally at over $250 million. The development forms part of the company’s broader phased expansion strategy within the axis.
Other estates in the corridor tagged as the “Citadel of Joy” (Ogba-idunnu) include Granville Estate, Majestic Bay Estate, The Parliament Phase I & II, and Harmony Casa Phase I & II.
With multiple projects active, the rollout of the Ibile Traditional Mortgage System, and structured expansion underway, Harmony Garden & Estate Development Ltd continues to deepen its presence within the fast-growing Ibeju-Lekki real estate market.
Business
BUA Group Showcases Food Manufacturing Strength at 62nd Paris International Agricultural Show
BUA Group Showcases Food Manufacturing Strength at 62nd Paris International Agricultural Show
BUA Group, one of Africa’s leading diversified conglomerates, is maintaining a strong presence at the ongoing 62nd edition of the Paris International Agricultural Show in France, participating as a premium sponsor and supporting the Nigeria Pavilion at one of the world’s most respected agricultural gatherings.
The 62nd Paris International Agricultural Show, taking place from February 21 to March 1, 2026, at Porte de Versailles in Paris, convenes global leaders across farming, agro processing, technology, finance, and policy. The event serves as a strategic platform for industry engagement, knowledge exchange, and commercial partnerships shaping the future of global food systems.
BUA Group’s participation reflects its long term commitment to strengthening the entire food production value chain. Through sustained investments in large scale processing, value addition, and branded consumer products, the Group continues to reinforce its role in advancing food security, industrial growth, and regional trade integration.
Speaking on the Group’s participation, the Executive Chairman of BUA Group, Abdul Samad Rabiu CFR, said, “BUA’s presence at the Paris International Agricultural Show reflects our belief that Africa must be an active participant in shaping the future of global food systems. We have invested significantly in local production capacity because we understand that food security, industrial growth, and economic resilience are interconnected. Platforms like this allow us to build partnerships that strengthen Nigeria’s competitiveness and expand our reach beyond our borders.”
BUA Foods, a subsidiary of BUA Group, maintains a strong footprint in flour, pasta, spaghetti, sugar, and rice production, serving millions of consumers within Nigeria and across neighbouring African markets. The Managing Director of BUA Foods, Engr. Abioye Ayodele, representing the Executive Chairman, is attending the event at the Nigeria Pavilion, engaging industry stakeholders and showcasing the company’s manufacturing capabilities.
Also speaking at the show, Engr. Ayodele stated, “BUA Foods has built scale across key staple categories that are central to household consumption. Our participation at this Show allows us to demonstrate the quality, consistency, and operational strength behind our products. We are also engaging global stakeholders with a clear message that Nigerian manufacturing can meet international standards while serving both domestic and regional markets efficiently.”
The Show provides BUA Group with an opportunity to deepen trade relationships, explore new export pathways, and reinforce Nigeria’s growing relevance within the global agricultural and food ecosystem.
BUA Group remains focused on building enduring institutions, expanding productive capacity, and positioning African enterprise competitively within global markets.
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