BEJ Top of the Hour
BEJ Top of the Hour: OPay Raises $304 Million in NYSE IPO as Trading Stalls
In this morning edition, Nigerian payments platform OPay raises $304 million in its New York IPO, but shares did not begin trading on Friday. Uganda's inflation reaches a three-year high, and Nigeria's minerals minister defends the Nigeria-US minerals deal. Markets close with Friday's moves in Ghana, Uganda and Nigeria, plus gold and Brent crude.
Timestamps
(00:00) Intro
(00:12) OPay raises $304M in NYSE IPO, but trading stalls
(00:29) Uganda inflation hits three-year high at 5.8%
(00:45) Alake rejects $700bn Nigeria-US minerals sale claims
(01:01) Markets
Stories and sources
OPay raises $304M in NYSE IPO, but trading...OPay’s $304 million New York IPO, where trading stalled, then MTN Ghana’s mobile money jump, Nigeria’s push for power investment, Obasanjo on debt, and the Ghana–Burkina Faso trade pact.
OPay’s $304 million New York IPO opens the hour, where trading stalled in a dramatic market debut.
MTN Ghana’s mobile money growth, Nigeria’s push to attract new power investment, and former Nigerian President Olusegun Obasanjo’s comments on debt.
The hour also examines a new Ghana–Burkina Faso trade pact before closing with the markets, where Ghana fell 1.86% and Uganda dropped 1.6%, leading African stocks lower.
This is the hour’s news across business, markets, capital and power.
