Business
Dangote Sugar Plans Bold N500bn Rights Issue Expansion
Dangote Sugar N500bn rights issue as company plans major capital raise to strengthen finances and support expansion strategy in Nigeria
The proposal is expected to be tabled before shareholders at the company’s 20th Annual General Meeting, where approval will also be sought for related governance resolutions, including remuneration for non-executive directors and capital restructuring measures.
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Under the planned arrangement, the company’s board will be authorised to issue new ordinary shares to existing shareholders on a rights basis, subject to regulatory approval and prevailing market conditions.
The Dangote Sugar N500bn rights issue, if approved, would rank among the largest capital-raising exercises in Nigeria’s consumer goods sector in recent years, reflecting the scale of funding required to support the company’s operational and strategic ambitions.
The company noted that the structure of the offer may include underwriting arrangements, while any unsubscribed shares could be allocated to interested shareholders in line with regulatory guidelines.
A key feature of the proposal also includes the possibility of converting existing shareholder loans or advances into equity, depending on agreed terms between the company and investors, a move that could further reshape the firm’s balance sheet.
The board will also seek authority to adjust the company’s share capital and amend its governing documents to reflect the outcome of the proposed issuance once completed.
The Dangote Sugar N500bn rights issue underscores a broader corporate strategy to reinforce financial stability while positioning the company for future growth in Nigeria’s competitive food and consumer goods sector.
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If approved, market attention will centre on investor participation levels, pricing structure, and how the company intends to deploy the raised capital to support expansion and operational efficiency.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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