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UBA’S DEBUT $500M EUROBOND OVERSUBSCRIBED 240% BY GLOBAL INVESTORS, FURTHER VALIDATION OF UBA’S PAN-AFRICAN GROWTH STRATEGY

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United Bank for Africa Plc (UBA) successfully raised USD500 million, though a debut Eurobond, which was 240% over-subscribed. The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s pan-African financial services strategy. The Global Offering is a five-year senior unsecured benchmark bond (144A/Reg S) listed on the Irish Stock Exchange and will further support the Group’s strategic vision, as it continues to grow its franchise across the continent and client segments.

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The bond, which is rated by both Fitch (B, stable outlook) and S&P (B, stable outlook), matures in June 2022 and was issued with a coupon rate of 7.75%, priced at an effective yield of 7.875%. This pricing is seen by the global investor community as the best possible pricing for a debut issue from a financial institution of Nigerian origin in current markets. The pricing was at par to the recent bond issue by the Federal Republic of Nigeria, which issued USD1 billion in February 2017.

 

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Investor interest was global, including the United Kingdom, Europe, Asia, the Middle East and the US.

 

Speaking on the offering, the Group Managing Director/CEO of UBA Plc, Mr. Kennedy Uzoka stated: “This successful dollar-denominated offering further illustrates global investor confidence in the strong fundamentals of our Group. The USD500 million bond will complement our stable funding base and support the growth of our balance sheet and the overall business. More importantly, this medium-term funding will further enhance our strength in financing profitable, impactful projects on the African continent.”

 

Also commenting on the Eurobond, the Group CFO, Mr. Ugo Nwaghodoh said: “UBA’s debut global offering is another milestone for us. It is timely in the Group’s growth phase and aligns with our strategic plan to profitably grow the balance sheet, as we maintain our prudent risk management and benchmark asset quality ratios.”

 

The United Bank for Africa Plc is a leading pan-African financial institution, offering banking services to more than 14 million customers, across over 1,000 business offices and customer touch points in 19 African countries. With presence in New York, London and Paris, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services.

 

 

 

 

 

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How God warned the Arab nations of tragedies and disasters -prophet Ikuru

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By Collins Nkwocha

The death of the president of Iran Ebrahim Raisi came as a huge shock to everyone as nobody was expecting the huge lose,the helicopter carrying him and other officials crashed in a mountainous and forested area of the country in poor weather.

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It’s very explicit that Iran lost their president due to climatic problems and this reminds me of the prophetic hall of fame, prophet Godwin Ikuru of Jehovah Eye Salvation Ministry who warned the Arab nations,last year,when he was dishing out his prophecies for the year 2024.

He specifically warned the Arab nations of impending calamities disasters and tragedies that will be prompted by climatic problems and this was exactly what caused the death of the president of Iran.

Just few weeks ago, heavy and thunderous rain caused the death of about 17 people in Oman, just the way it caused serious disaster in UAE and crippled business activities in the nation for days.

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Harmony Gardens & Estate Development Unveils Lekki Aviation Town Amidst Glitz & Glamour

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Harmony Gardens & Estate Development Unveils Lekki Aviation Town Amidst Glitz & Glamour

Harmony Gardens & Estate Development Unveils Lekki Aviation Town Amidst Glitz & Glamour

 

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Sahara Weekly Reports That In a spectacle of jubilation and festivity, Harmony Gardens and Estate Development LTD made a resounding mark on the real estate landscape with the grand launch of Lekki Aviation Town in Ibeju-Lekki, Lagos. The unveiling took place within the confines of the estate, blending urban sophistication with the charm of a vibrant neighborhood.

 

 

 

 

 

 

 

Harmony Gardens & Estate Development Unveils Lekki Aviation Town Amidst Glitz & Glamour

 

 

 

 

The event, graced by esteemed personalities including traditional rulers, dignitaries from government parastatal and renowned celebrities, saw Harmony Gardens and Estate Development LTD ambassadors, 9ice, Nancy Isime, Small Doctor, Iyabo Ojo, and Anita Joseph, taking center stage as the faces of the brand, adding a touch of glamour to the occasion.

 

 

 

 

 

 

 

 

 

 

 

Adding to the allure of the festivities, the presence of popular Fuji musician, The Ibile master in person of Sefiu Alao and King Saheed Osupa, infused the atmosphere with rhythm and melody, enhancing the celebratory ambiance.

 

 

 

 

 

 

 

 

 

 

 

Hon. Dr. Audullahi Saheed Mosadoluwa, the visionary CEO of Harmony Gardens and Estate Development LTD, delivered an impassioned opening speech, articulating his mission in developing Lekki Aviation Town, Granville Estate and Majestic Bay Estate by Harmony Gardens and reaffirming the company’s commitment to delivering properties of unparalleled quality. Assuring prospective buyers, he emphasized the authenticity of the company’s titles, instilling confidence in their investments.

 

 

 

 

 

 

 

 

 

 

 

 

Amidst a plethora of activities aimed at creating unforgettable memories, the day held additional significance as it marked the birthday of Hon. Dr. Audullahi Saheed Mosadoluwa. The celebration took place in grand style at his residence, where discussions were held about the progress of various partnerships, including the Seyi Vodi-tagged Vodi Cottage, NancyVille Estate, and the recently finalized Maitakobi Emirate.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During the event, it was announced that these three projects would feature prominently in the upcoming Lekki Aviation Town grand launch. Additionally, the Seminar on Bridging the Housing Deficit in Nigeria, scheduled for July 2, 2024, was highlighted. This seminar will gather 7,000 industry leaders and stakeholders to discuss solutions for the country’s housing challenges.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The event not only showcased the grandeur of Lekki Aviation Town but also underscored Harmony Gardens and Estate Development LTD’s unwavering dedication to redefining secured, affordable luxury living in Nigeria’s real estate landscape. As the sun set on a day filled with joy and revelry, the promise of a bright future for Lekki Aviation Town shimmered on the horizon, beckoning investors and homeowners alike to embark on a journey of opulence and prosperity.

 

 

 

 

 

 

 

 

Tag: #PartnershipGoals #LuxuryRealEstate #SustainabilityDriven #AnitaJosephHarmonyGardens #investment #Lagosland #Lagosinvestment #realestate #Realestateinnigeria #ibejulekki #Nigerian #Land #HarmonyGarden #mr_ibile #Premiumland #9ice #iyaboojo #nancyisime #anitajoseph #smalldoctor #Nigeriansindiaspora #nigeriansinuk #nigeriansincanada #Nigeriansintheus #nigeriansincanada #Lagos #Lekki #nigeriansabroad #nigeriansinamerica

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Nigeria will overcome security challenges — Ex-army chief, Buratai

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Nigeria will overcome security challenges — Ex-army chief, Buratai

Nigeria will overcome security challenges — Ex-army chief, Buratai

 

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Sahara Weekly Reports That A former Chief of Army Staff (COAS), Lt Gen Tukur Yusuf Buratai (rtd), has predicted an end to the security challenges Nigeria is presently passing through saying it will soon be a thing of the past.

 

 

 

 

 

Nigeria will overcome security challenges — Ex-army chief, Buratai

 

 

 

 

General Buratai spoke at the public presentation of books written by the Director Academic, Planning and Quality Assurance, Nigerian Army University, Biu, Borno State, Brigadier General Mogbekeloluwa Oluyinka Fakokunde, which was held at Nigerian Army Resource Centre, Abuja on Friday.

 

 

 

 

 

 

 

 

 

 

 

The former army chief commended the efforts of the Nigerian military in the war against insecurity saying they have given their best within the circumstances they have found themselves. He however expressed optimism in the ability of the military to nip the security challenges in the bud very soon saying insecurity is a global occurrence.

 

 

 

 

 

 

 

 

 

 

 

 

I want to commend them (the military). They are doing well. They are doing their best within the circumstances they find themselves and what is happening. It (insecurity) is not only in Nigeria, it is global. What is happening is Nigeria is not an exception. Within our neighbours, we see what is happening and globally.

 

 

 

 

 

 

 

 

 

 

“We see what is happening in Sudan, Ukraine, in the Middle East and so on. They (the military) need to remain resolute, remain focused and continue the project they are doing and surely they will succeed. For sure it (insecurity) cannot be permanent, there must be a solution and we can get out of it one day,” General Buratai told media

 

 

 

 

 

 

 

 

 

 

 

The author, Brigadier General Fakokunde, while speaking with Tribune Online, said the books were written with the intention to solve societal problems such as stress, drug abuse and addiction as well as providing the leeway for teachers to manage stress associated with their profession.

 

 

 

 

 

 

 

 

 

 

He said as builders of talents, teachers need the required skills and qualifications to excel and impart knowledge on their students as leaders of tomorrow.

 

 

 

 

 

 

 

 

 

 

“If you look at these books, they are not just ordinary books, they are also working instruments addressing the problems of the society like problem of drug addicts, problem of occupational stress and others ravaging the workforce now. These are competencies they need to imbibe so that they can manage their stress.

 

 

 

 

 

 

 

 

 

“The rate of drug abuse is a serious thing now and is prevalent among the students and the youths. With these publications, we have instruments that can be used to manage drug abuse among our youths, our workforce and every strata of the society. The intention is to solve problems of the society and that is what we have done by unveiling these books.”

 

 

 

 

 

 

 

 

 

 

The books’ reviewer, Professor Mary Ogechi Esere, of the University of Ilorin, while commending the author for his efforts said the books describe Nigeria’s current realities and provide solutions for the way out.

 

 

 

 

 

 

 

 

 

She said the books could not have come at a better time describing them as tools for stress management and to tackle the menace of drug abuse especially among the youths.

 

 

 

 

 

 

 

 

 

“The author has deemed it fit to give us tools that we can use to manage the stress and tackle drug abuse which is prevalent among our students right from primary schools. The books are apt, written at the right time. It is scholarly and the writing style is unique,” she said.

 

 

 

 

 

 

 

 

 

 

The books presented are Handbook of Occupational Stress Management for Teachers, Psychological Testing and Technique in Continuous Assessment for Colleges and Universities, Drug Abuse Awareness Scale (DAAS) and Drug Abuse Awareness Scale (DAAS) Manual.

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