Nigerian Breweries announces Borrut Bet new managing director/CEO

The board of directors of Nigerian Breweries Plc. has announced new management changes. Rising from its meeting late last week, the board named Jordi Borrut Bel as the substantive managing director/CEO of the Company effective January 22, 2018. He replaces Johan Antonie Doyer, who has managing director/CEO on an interim basis since June. Doyer is […]

Alibaba to Invest $200m in India online grocer

Alibaba Group Holding Ltd., China’s e-commerce giant, plans to invest about $200 million in India’s largest online supermarket, Bigbasket, leading a $280 million funding round in the startup, according to people familiar with the negotiations. Alibaba is taking a stake of about 25 percent in Bigbasket after months of negotiations, said the people, asking not […]

Oil trades near $56 after slump as U.S. gasoline stockpiles gain

Oil held losses near $56 a barrel after falling the most in two months as U.S. gasoline stockpiles expanded more than expected, offsetting a third weekly decline in crude inventories. Futures were little changed in New York after tumbling 2.9 percent Wednesday, the biggest daily drop since Oct. 6. Motor fuel stockpiles rose by 6.78 […]

Arsenal money transfer company nets $40m in growth investment

Private equity firm Leapfrog Thursday led a $40m (£30m) fundraising for digital money transfer firm Worldremit. Existing investors Accel and TCV also participated in the capital raise. Worldremit said it would use the proceeds to target 10m new emerging markets customers by 2020, according to report by City A.M. WorldRemit last month became Arsenal football […]

Dangote partners Jumia, takes cement business online

Chux Mogolu, Key Account Director, Dangote Cement, (left) in a handshake with the Chief Executive Officer of Jumia Nigeria, Juliet Anammah after the flag-off of on-line purchase dealLink: Dangote GroupLink: Dangote Cement PlcLink: Jumia Nigeria

The management of Dangote Cement Plc has signed a pact with the foremost e-commerce platform in Nigeria, Jumia, to offer sale of its cement to customers online with the move designed to reduce price and ease logistics inherent in the purchase of its products. At the unveiling of the deal in Lagos, Dangote Cement, Key […]

Ecobank Nigeria appoints Olagbami executive director

Ecobank Nigeria recently announced the appointment of Adebiyi Olagbami as an executive director and chief risk officer of the bank with effect from November 15, 2017. Charles Kie, managing director, Ecobank Nigeria in a statement said his appointment is in furtherance of the bank’s repositioning strategy and the enhancement of the risk function in the […]

CIBN accredits Union Bank‘s Academy

The Chartered Institute of Bankers of Nigeria, (CIBN) has approved the training Academy of Union Bank of Nigeria Plc and awarded it full accreditation status. The bank in a statement said the development was in recognition of its compliance with regulatory standards and best practices. It added that the accreditation underscores the bank’s commitment to […]

Sterling Bank says its dealings with Grand Properties clean, legitimate

Sterling Bank Plc has said its dealings as a lead bank in an N8 billion syndicated loan-financing transaction between it and Grant Properties Limited, a property development company, owned by one Olajide Awosedo, which spanned over a decade solely with depositors funds, were transparent. The bank’s rebuttal followed a report by an online news medium […]

Access Bank targets 30m clients in fresh 5-year expansion strategy

Access Bank Plc has launched a five-year strategy to achieve 30 million customer- base and to rank as number one bank in Nigeria in terms of returns on equity. Addressing Financial Analysts and Market operators at the Nigerian Stock Exchange (NSE), Herbert Wigwe, chief executive officer and group managing director of Access Bank, said “the […]

FirstBank’s FirstGem celebrates one-year anniversary

FirstGem, an account product by First Bank of Nigeria Limited (FirstBank) designed specifically to meet the needs of the woman is one year old and the anniversary celebrations, which has “Positioning for Business and Financial Success” as theme is billed for Tuesday, December 5, 2017 in Lagos. A statement from the bank said as part […]