Equity trading performance spurs Goldman Sach’s quarterly growth

Businessam StaffJuly 16, 2019

Goldman Sachs

Goldman Sachs Group Inc reported a higher-than-expected quarterly profit on Tuesday as the Wall Street investment bank benefited from higher equities trading revenues. The bank said equities trading revenue increased by 6 percent from a year ago to $2 billion, the second highest in four years. Goldman said clients were more active than the same […]

FMN reduces net debt by 30% proposes N1.20 dividend

Adesola AfolabiJuly 16, 2019

Flour Mills of Nigeria Plc (FMN), has announced a 30 percent reduction on its overall net debt. The announcement was made via its recently released full year results for the year ended March 31, 2019. According to the company’s statement, it’s debt which stood at N22.9 billion as at March 31, 2019 is lower than […]

Cars45 reiterates desire to fulfil brand promise with launch of 2 car lots

July 16, 2019

Automotive trading platform Cars45 has unveiled two more Carsbazr franchise lots at Egbeda and Shogunle in Lagos, in partnership with Auction.com Ltd. Cars45 chief financial officer (CFO) Jide Adamolekun, who spoke at the launch, stated that the move is in a bid to fulfil the brand promise of providing end-users with cars at affordable prices […]

Ecobank counters worker’s layoff rumours

July 11, 2019

Ecobank Nigeria says it has not sacked some of its workers as reported by some dailies. The bank said in a statement on Thursday that it only decided against renewing the contract from its third-party recruitment agencies and returned those categories of personnel to the recruitment agencies, adding that efforts were being put in place […]

Rendeavour to invest over $250m worth of infrastructure in Alaro city

Businessam StaffJuly 10, 2019

Rendeavour, the biggest new city builder in Africa, will be investing over $250 million worth of infrastructure in Alaro City, the new mixed-income city being built at the Lekki Free Zone (LFZ), Lagos state. Tim Beighton, the head of marketing and communications, Rendeavour, who disclosed this at a media parley in Lagos on Wednesday, said […]

Access Bank wins FAW impact award

July 10, 2019

Access Bank Plc. has emerged winner of the 2019 “Financial Alliance for Women (FAW) Market Champion” award for its efforts towards providing opportunities for women. Hosted in Paris, the award contributes to a growing list of recognitions for Access Bank, including the National Women in Finance Magazine’s Outstanding Banking Initiative awards; the Financial Alliance Women’s […]

African trade agreement will boost electricity generation, supply, say GENCOs

Businessam StaffJuly 10, 2019

The electricity generation companies, GENCOs, say they are optimistic the African Continental Free Trade Area (AfCFTA) agreement signed last Sunday in Niamey, Niger Republic by all heads of government of the African Union will boost power generation and supply in the continent. The companies, under the aegis of the Association of the Power Generation Companies […]

Systemspecs wants girls’ to embrace career in ICT

July 4, 2019

Systemspecs has urged girls and young women to consider careers in the field of information and communication technology (ICT) as it is the future profession to beat. The software firm disclosed this at the 8th edition of the international girls in ICT day organised by eBusiness Life, with the theme: “Expand horizons changing attitudes: an […]

FrieslandCampina WAMCO’s profit hits N16.3b despite low consumer spending

July 4, 2019

FrieslandCampina WAMCO Nigeria Plc has recorded a turnover of N149.2bln signifying a 6 percent increase over 2017 with N140.1bln; while profit before income tax increased by 3% from N15.9 billion reported in the previous year to N16.3 billion. The result was announced at the company’s 46th yearly general meeting held in Lagos. The Shareholders approved […]