Out of 11 consumer goods firms listed on the Nigerian Exchange Limited, nine saw their interest expense swell by more than five-fold in the first half of this year following the rate hikes implemented by the Central Bank of Nigeria (CBN).
The firms analysed are Dangote Cement Plc, Nestle Nigeria
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Folake Balogun
Folake Balogun is a tech journalist covering Africa’s fast-growing digital economy with a strong focus on incisive analysis of startup trends, venture capital, and fintech innovation, while also exploring emerging technologies such as artificial intelligence and the future of connectivity by highlighting their economic and social impact.
