Wema Bank extends valentine promo
Kenneth AforFebruary 18, 2020
Kenneth Afor Wema Bank and its subsidiary, ALAT, Africa’s first fully digital bank say they are extending their valentine reward promo till end of February. The banks are rewarding their customers who use the platform and other services channels this valentine season with special gift cards. Customers who would emerge winners via a raffle draw […]
Standard Chartered Bank takes up deal to finance $1.46 billion rail project in Tanzania
Samson EchenimFebruary 18, 2020
By Samson Echenim The Government of Tanzania Ministry of Finance has signed a facility agreement with Standard Chartered (SC.com) Tanzania for a $1.46 billion term loan financing to fund the construction of the Standard Gauge Railway (SGR) project from Dar es Salaam to Makutupora. Running approximately 550 kilometres long, the SGR project is one of […]
Nestlé Nigeria shares best practices with top logistics companies
Businessam StaffFebruary 14, 2020
Nestlé Nigeria Plc, a leading food manufacturing and marketing company in the country, recently hosted top logistics companies to share best practices, enlighten them on its core business objectives and ambition, as well as recognise them for their role in its supply-distribution chain. The company said in a statement that the recognition of the top […]
A stock and a hard place: SoftBank’s $150 billion Alibaba warchest in public eye
Businessam StaffFebruary 12, 2020
SoftBank CEO Masayoshi Son threw cold water on Wednesday on the idea of cutting his firm’s $150 billion stake in e-commerce giant Alibaba, after prominent activist investor Elliott Management called for big buybacks. The emergence of New York-based Elliott as a SoftBank shareholder has renewed focus on the company’s 26% stake in China’s Alibaba, the Japanese […]
Alaro City welcomes new wave of investments in production, housing in Lagos State
Businessam StaffFebruary 1, 2020
On the one-year anniversary of its launch in Lekki Free Zone, Alaro City has announced a new wave of investments in Lagos State, with the commencement of operations of Ariel Foods, a multinational therapeutic food producer, and multi-sector investments in housing, soap and detergent production, construction materials and equipment, media and energy. Babajide Sanwo-Olu, Lagos […]
CDC group educates over 160 African business leaders on ESG practices
Adesola AfolabiJanuary 30, 2020
More than 160 participants are taking part in a four-day workshop in Lagos to learn sustainable practices for their respective businesses from CDC Group.
Mastercard beats profit estimates on strong holiday season spending
Businessam StaffJanuary 29, 2020
Mastercard Inc beat Wall Street estimates for quarterly profit on Wednesday as customers spent more on its cards during the U.S. holiday shopping season, boosting fees for the world’s second-largest payment processor. The company’s gross dollar volume, the dollar value of transactions processed, rose 12% to $1.73 trillion in the fourth quarter. U.S. retail sales, a […]
MAN begins nationwide survey on effect of border closure on manufacturing
Samson EchenimJanuary 28, 2020
By Samson Echenim …begin online registration for AfCFTA With the country’s land borders still closed with no sign of opening soon, Nigerian manufacturers, under the aegis of Manufacturers Association of Nigeria (MAN) have begun online registration for African Continental Free Trade Agreement (AfCFTA). The group has also requested information from members on the effect of […]
Airbus to settle corruption probes with US, UK, France
Businessam StaffJanuary 28, 2020
Airbus faces billions of dollars of fines after agreeing in principle to a settlement with US, British and French authorities following a crippling three-year investigation into allegations of bribery and corruption. A settlement would allow it to avoid criminal charges which, if proven, could have led to the company being disbarred from public contracts in […]
Apple stock market value hits $1.4 trillion as services go on spotlight
Businessam StaffJanuary 28, 2020
When Apple Inc (AAPL.O) posts quarterly results on Tuesday, investors will be looking for fresh evidence the iPhone maker should be treated as a producer of high-margin, subscription services after its stock market value touched $1.4 trillion and its earnings multiple trades at decade highs. The Cupertino, California corporation’s stock has doubled over the past […]