Ecobank blazes trail, introduces card-less ATM withdrawals

August 6, 2020

Ecobank has stated that cash withdrawals can be made at all its ATMs, without a card. The Ecobank cardless withdrawal concept, Xpress Cash, enables users to withdraw cash from ATMs using only a mobile phone, with no ATM card is required. The solution is seamless, secure and is driven by the generation of a code […]

Unilever begins journey to separate tea business entity

August 5, 2020

By Charles Abuede   Generated €2bn in 2019 global revenues   Unilever Nigeria plc, a leading personal care and consumer goods company, has announced its reviewed strategy on the planned separation of its global tea business, stating in a filing with the Nigerian Stock Exchange on Wednesday that the review assessed a full range of options for […]

Nestle Nigeria appoints new MD

Chris IkosaAugust 5, 2020

Mauricio Alarcon, managing director of Nestle Nigeria Plc, has been appointed as the market head of Nestlé Central and West Africa Region, comprising 25 countries with head office in Ghana, effective September 1, 2020. Nestlé  Nigeria which disclosed this in a statement on Tuesday, however said Alacron would remain on the board of Nestlé Nigeria […]

Fears of job losses mount as Shoprite moves to leave Nigeria

August 4, 2020

The announcement by Shoprite, a South African retail giant with branches in Nigeria, to gradually end its operations in the country has sent ripples among employees, customers and other stakeholders in the retail market sector. Shoprite Holdings Limited, in its operational and voluntary trading update for the year ended on June 28, 2020, which it […]

Okomu Oil posts N4bn profit, pays N1.92bn dividend in H1 2020

July 28, 2020

Okomu Oil posts N4bn profit, pays N1.92bn dividend in H1 2020

By Omobayo Azeez Agricultural company, Okomu Oil Palm Plc, made N4.007 billion as profit after tax (PAT) from its operations in the first six months of 2020. This was significantly higher than the N2.529 billion posted in the same period of 2019. The company disclosed in an interim management reports for the six month-period it filed with the Nigerian Stock Exchange […]

Volkswagen, with $192bn debt burden, is world’s most indebted company

July 28, 2020

Piles of debt almost equivalent to entire nations, like South Africa or Hungary Daimler and BMW also in top 10 with debts of $151bn, $114bn respectively Despite debts: Volkswagen has second-highest EBIT margin of all car manufacturers after Toyota Charles Abuede New data gathered by Kryptoszene and made available to Business A.M. show that German […]

Lafarge Africa closes HY1 operations with N120.5bn revenues

July 27, 2020

Lafarge Africa closes HY1 operations with N120.5bn revenues

Company’s chief attributes growth to HCC initiatives By Omobayo Azeez Lafarge Africa Plc has reported positive numbers for the half year (HY1) operations of 2020, identifying its health, cost and cash initiatives as the major stimulant that helped it to weather Coronavirus storm during the period. In its unaudited financial report for the period, revenue […]

National diaspora day: Ecobank offers zero Fees on Rapidtransfer

July 24, 2020

Ecobank Nigeria urges customers to obey COVID-19 rules, opens more branches

In commemoration of the National Diaspora Day, Ecobank Nigeria has said it is offering zero fees for money transfers on the Rapid transfer app from now till the 31st of October 2020. The federal government has set aside July 25 of every year as the National Diaspora Day in recognition of the contributions of Nigerians […]