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GambiaUpdates
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GambiaUpdates
Man Remanded For Raping 13-year-old- Girl
~2.1 mins read
The Prosecution Alleged That The Accused Sometime In 2024 At A Village Within The West Coast Region, Intentionally Under A Coercive Circumstance Engaged In A Sexual Act To Wit: Raping A 13-year-old Girl, Thereby Committed An Offence.
When The Charge Sheet Was Read To Him In The Language He Claimed To Have Understood, He Pleaded Guilty.
At That Juncture, The Prosecution Applied For A Short Adjournment And Ordered The Accused Be Remanded At The State Central Prison, Mile 11. This Was Granted By The Presiding Magistrate And The Case Was Then Adjourned To 17th April For Sentencing And Reading Of Facts By The Prosecution.
DSP Buteh Sawaneh Represented The Inspector General of Police At The Trial.
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GambiaUpdates
New EBID Chairman Pledges Commitment To Regional Growth, Integration
~3.9 mins read
In A Statement Read By Thomas Nyarko Ampem, Deputy Minister For Finance Representing, Dr Cassiel Ato Forson, Minister For Finance Of The Republic Of Ghana At The 23rd Annual Meeting Of The Board Of Governors Of The ECOWAS Bank’s Investment Development Held At Sir Dawda K.J.I.C Centre, The Incoming Chair, Said It Is With Deep Honor And Humility That He Assume The Role Of Chairman Of The Board Of Governors Of The ECOWAS Bank For Investment And Development (EBID).
“I Am Fully Aware Of The Gravity Of This Responsibility And Make A Firm Commitment To Work Collectively Towards Our Common Goals And Ambitions.”
He Extended Heartfelt Appreciation To His Colleagues On The Board For Their Trust, Further Expressing Gratitude To My Fellow Governors For The Trust And Confidence Repose In Him And Electing Him To Lead The Affairs Of The Board For The Next One Year.
“Your Support Will Undergird Our Shared Dedication To Advancing The Vision And Mission Of Our Bank.”
The New Chairman Also Lauded The Leadership Of His Predecessor, Hon. Seedy Keita, Who Steered The Board Through A Challenging Year.
“Through His Insightful And Steadfast Guidance, This Board Successfully Navigated A Year Defined By Extraordinary Economic, Geopolitical, And Security Challenges. His Resilience, Wisdom, And Steadfast Commitment Have Been Instrumental To Our Progress During These Trying Times. We Are Privileged To Carry Forward The Strong Foundation He Has Established.”
He Further Commended The President Of The Bank, Dr. George Agyekum Donkor, And His Team For Their Exceptional Performance Amidst Adversity, Adding That The Accomplishments Realized During Such A Challenging Period Are Truly Commendable.
“Your Unwavering Dedication, Innovative Approaches, And Relentless Efforts Have Not Only Sustained Our Institution But Have Also Advanced Our Pursuit Of Regional Development And Integration.” He Said.
Looking To The Future, The Chairman Acknowledged The Difficulties Ahead But Emphasized Collective Perseverance. “It Is Precisely In These Moments Of Adversity That Our Determination Is Put To The Test And Our True Strength Is Revealed,” He Remarked. “I Encourage Each Of You, As Dedicated Members Of This Esteemed Institution, To Remain Steadfast And Renew Your Commitment. Though The Road May Be Demanding, The Impact And Rewards Of Our Collective Efforts Will Be Both Significant And Enduring.”
Reaffirming His Dedication To The Bank’s Mission, He Expressed His Resolve To Collaborate With All Stakeholders, Adding That He Is Fully Committed To Building Upon The Strong Foundation Laid By My Predecessors.
“I Pledge To Work In Close Collaboration With All Governors And Stakeholders To Ensure That Our Bank Stays Firmly On Course In Fulfilling Its Mandate Effectively,” He Assured.
The New Chairman Also Outlined Four Key Strategic Areas Of Focus During His Tenure Namely: Enhancing Resource Mobilization; Improving Capital Recovery Efforts; Facilitating The Onboarding Of Non-regional Members To Elevate The Bank’s Institutional Profile; And Positioning EBID As The Leading Development Finance Institution In West Africa.
To This End, He Said That His Term Will Signals A Renewed Commitment To Strengthening The Bank’s Capacity And Visibility As A Central Driver Of Development And Integration In The ECOWAS sub-region.
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News_Naija
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News_Naija
SG Holdings CP Programme Oversubscribed: A Vote Of Investors Confidence
~2.4 mins read
SG Holdings Limited, a leading downstream Oil and Gas company and a rising force in international shipping, has successfully completed its debut commercial paper (CP) issuance—Series 1 and 2—marking a significant milestone in its corporate journey. Originally targeting ₦30 billion, the programme was met with strong demand from the investment community, ultimately raising ₦34.6 billion—an impressive 15% oversubscription. This remarkable response underscores the market’s confidence in SG Holdings’ financial strength, operational performance, and growth potential as a new entrant in Nigeria’s capital markets. Launched on March 27, 2025, the CP programme attracted a broad spectrum of institutional investors, including asset managers, pension funds, finance houses, and other major financial institutions. The commercial papers were competitively priced in the ranges of 24–26% and 26–28%, reflecting robust investor appetite and the company’s solid credit standing. SG Holdings’ strong ratings—GCR (AA)/A1+ and Agusto& Co (A-)—further bolstered investor confidence. These ratings are supported by the company’s exceptional financial performance and integrated operational footprint. According to GCR, “The ratings assigned to SG Holdings Limited are underpinned by its well-integrated asset base across the downstream oil and gas value chain, which has driven strong earnings and healthy free cash flows. The ratings also reflect the natural hedge provided by its USD-denominated revenues, margin expansion from profitable oil vessel leases, and a modest net debt position. The company’s strategic focus on oil and gas ocean transportation remains a key pillar of its strong business profile. SG Holdings has maintained impressive earnings growth, recording an annualised turnover increase of 79% in Q3 2024, following a 22% rise in the 2023 fiscal year.” The outlook was described as “very stable.” The proceeds from the commercial paper issuance will provide SG Holdings with a cost-effective source of short-term financing, enhancing its liquidity and cash flow management. The programme also diversifies the company’s funding sources, reducing dependency on traditional bank lending. Its success has further reinforced the company’s credibility and standing within the capital market. Commenting on the outcome, SG Holdings CEO, Mr. Deji Matthew Somoye, stated, “We are thrilled with the success of our maiden commercial paper programme. It reflects investors’ trust in our financial performance, leadership, and creditworthiness. This CP programme will serve as a vital financing tool to help us meet our strategic goals and drive further growth.” SG Holdings is emerging as a dominant force in international shipping, with five ocean-going crude oil tankers in its fleet—two of which are Suezmax-class (165,000 DWT) vessels—collectively valued at over USD 350 million. No other Nigerian trading company owns comparable assets. The closest regional competitor, Stena Sonangol, is a joint venture tanker pool operated by Stena Bulk and Angola’s state oil company, Sonangol. In the downstream oil and gas sector, SG Holdings has made significant infrastructure investments, including an ultramodern tank farm, private jetty, gas processing plant, and a growing network of retail stations, among other assets. The company has experienced robust growth over the past five years, with total assets exceeding ₦350 billion as of December 2024. Supported by sound risk management, strong corporate governance, and a commitment to operational excellence and innovation, SG Holdings is well-positioned for sustained growth and value creation. Its strategic alliances with globally recognized entities—such as BP, Clarksons Shipping, Glencore, Shell UK, Union Maritime (UK), Litasco (Moscow), Coral Energy, Navig8 Shipping (UK), and Alpha Shipping (Turkey)—have played a pivotal role in driving its growth trajectory. Looking ahead, SG Holdings is focused on deepening its market footprint, expanding into new geographies, and broadening its service offerings in international shipping.
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