Home » Business (page 2)


Africa’s CEOs seize the opportunities that uncertainty brings-Report

Notwithstanding the current economic and socio-political uncertainty, numerous companies in Africa are still positive about the growth potential of the continent. PwC (www.PwC.com) research across the continent shows that 91% of CEOs are confident about their own companies’ growth prospects in the medium term. “This is the highest level of confidence since we started our research on CEOs in Africa ... Read More »

Indomie swallows Dangote Noodles

Dangote Flour Mills has exited the noodles business and sold its assets to Dufil Prima Foods, makers of Indomie noodles, saying it no longer consider it as strategic Dangote Flour Mills, which made the announcement on Tuesday, said in order to smoothen the transition, it had offered Dufil the use of some of its facilities on an interim basis.The noodles ... Read More »

At last, FG takes over Arik Air

Lifeline seems to have come the way of embattled airline, Arik Air as the Federal Government took over took over its operations. The Asset Management Corporation of Nigeria (AMCON) said the decision to intervene clearly underscores the government’s commitment to instil sanity in the country’s aviation sector to prevent a major catastrophe in the country. “The development will afford Arik ... Read More »

Mauritius Group acquires 5-star Mövenpick Ambassador Hotel, Accra

QG Africa Hotel LP, a Mauritius based investment fund managed by Quantum Global Investments Africa Management Ltd., today announced the acquisition of the Movenpick Ambassador Hotel Accra from Kingdom Holding Company (KHC). The transaction which closed on 28 December 2016 marks the most sizable open-market hotel transaction in Sub-Saharan Africa to date. Complementing Quantum Global’s (www.QuantumGlobalGroup.com) already significant African investment ... Read More »

Huawei denies plans to dump Nigeria for India

Huawei, technology giant said that it has no plans to relocate the Network Operating Centres (NOCs) it runs on behalf of the carriers in the country to India as alleged by the Nigerian Labour Congress (NLC). Comrade Ayuba Wabba, NLC president, had during the unveiling of the union’s struggles for this year, accused Huawei of planning to shut down its ... Read More »

CBN licences new International Money Transfer companies

The Central Bank of Nigeria (CBN) has issued licence to more International Money Transfer Operators (IMTOs) to operate in Nigeria. This is contained in a statement issued by Mr Isaac Okoroafor, the Acting Director, Corporate Communications of the apex bank, in Abuja on Tuesday. Okoroafor said that the licensing was in furtherance of efforts to liberalise the Foreign Exchange Market, ... Read More »

UBA declares N7.2billion as interim dividends

United Bank for Africa (UBA) Plc shareholders have got some good news. The board of directors has recommended payment of N7.26 billion  as interim dividends for the first half of this year as the bank sustained stable top-line and bottom-line. Shareholders will receive a dividend per share of 20 kobo as interim dividends based on the first half results. The ... Read More »

Orange takes over Airtel in Sierra Leone

Orange has  announced that, together with its Senegal-based partner Sonatel, it has completed the acquisition of 100% of the mobile operator Airtel in Sierra Leone. Since the signature of an agreement with Bharti Airtel International (Netherlands) BV (“Airtel”) in January 2016, Orange has obtained all the official approbations necessary to complete this transaction. Airtel is the leading mobile operator in ... Read More »

Guinness wins Best Place to Work awards on 66th Anniversary

Guinness Nigeria has been named as one of the best places to work in Nigeria for 2015. The company also clinched the top spot for the Excellence in Wellness Award at the Great Place to Work Institute which held its awards ceremony recently held in Lagos. The awards also added shine to Guinness Nigeria as the company was also celebrating ... Read More »

MRS Oil appoints new Managing Director

Following the resignation of Mr. Paul Bissohong as managing Director, from the Board of the Company and subsequent secondment, back to the Group, the Board approved the appointment of Mr. Andrew Gbodume as the Managing Director, effective January 1, 2016. Mr. Gbodume as its new Managing Director holds a masters degree from Ahmadu Bello University, Zaria. He is a fellow ... Read More »