Completed rights issue, South African divestment to deleverage Lafarge Africa by N239bn
Businessam Staff
July 24, 2019
Lafarge Africa Plc.’s financial position has been further strengthened by about N239 billion as a result of its recently concluded fully subscribed rights issue as well as the divestment from its South African operations. According to the company, the construction industry in South Africa still remains subdued and net sales down were down 2.1 percent […]
Fidelity Bank looks to refinance existing bonds with N50bn fresh debt
Businessam StaffJuly 21, 2019
Fidelity Bank is looking to refinance its existing bonds by selling up to N50 billion ($163.2 m) in Tier II debt before the second quarter of next year. Samuel Obioha, the bank’s head of investor relations was quoted by Reuters as saying “we might issue naira bonds before Q2 2020, between N30 billion and N50 […]
Renault partners Coscharis in a distribute and assemble deal
Businessam StaffJuly 18, 2019
French carmaker Renault and Nigerian conglomerate Coscharis Group have formed a partnership to assemble and distribute Renault vehicles in Nigeria, the companies said on Thursday. The Coscharis Group plant will start assembling Renault Logan and Renault Duster vehicles and will distribute the cars through their sales network throughout Nigeria from October. “With a population of […]
May and Baker appoints Daisy Danjuma as non-executive director
Afolabi OluwaseunJuly 18, 2019
May and Baker Nigeria Plc has appointed Daisy Ehanire Danjuma as a non-executive director Danjuma’s appointment was disclosed in a notification addressed to the Nigerian Stock Exchange (NSE), the company’s shareholders and the investing public at large. Daisy Danjuma is a law graduate of the Ahmadu Bello University, Zaria, with almost 40 years post-call experience. […]
Cocoa farmers urge government to include cocoa drink in school children daily meal
Kenneth AforJuly 18, 2019
By Kenneth Afor In a conscious effort to boost the nation’s agriculture sector and to make the federal government’s school feeding programme sustainable, Adeola Adegoke, president of the Cocoa Farmers Association of Nigeria (CFAN) has called on the government to include a cocoa drink as part of a daily meal for the pupils in schools […]
Pcl canvases enhanced digital work skills for sustainable businesses
Adesola AfolabiJuly 17, 2019
To build a workforce that can promote a sustainable business, managers and business leaders have been advised to enhance employee digital work skills. The advice was given at Phillips Consulting (pcl.) July breakfast roundtable held at Wheatbaker Hotel, Ikoyi. The roundtable centred around emerging digital trends, the opportunities they provide for business growth, and how […]
Equity trading performance spurs Goldman Sach’s quarterly growth
Businessam StaffJuly 16, 2019
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 […]
Flour Mills Nigeria 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 results made available to business am, it’s debt which stood at N22.9 billion as at March […]
Cars45 reiterates desire to fulfil brand promise with launch of 2 car lots
Afolabi OluwaseunJuly 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 […]
SAHCO records N302m loss despite 23.2% revenue rise as assets climb to N23bn in 2018
Businessam StaffJuly 11, 2019
Nigeria’s second largest aviation handler, Skyway Aviation Handling Company Plc (SAHCO) says it recorded a loss before tax of N302.1 million, despite generating N6.2 billion revenue in 2018. The revenue figure is 23.2 percent higher than N4.9 billion, which SAHCO earned in 2017, according to its financial book for the year ended December 2018. […]