Nigeria’s Jumia CEO talks up AfCFTA as good for African e-commerce companies
Bukola Odufade
June 26, 2018
Jumia Nigeria on Tuesday said that the restructuring of trade barriers, cross border and taxational cross border tariffs by the African Continental Free Trade Agreement, will foster partnerships amongst e-commerce companies within and outside the continent. Juliet Anammah, the chief executive officer of Jumia Nigeria said in Lagos that the continental free trade agreement is good for […]
Nigeria’s Glo ranks 4th in most admired African brands survey
BusinessamJune 26, 2018
Globacom (Glo), Nigeria’s fully integrated telecommunications company, has been declared the 4th most admired African brand in the 2017/2018 Most Admired Brands survey conducted by Brand Africa and published in African Business magazine. The survey indicated that Glo was ranked 4th in the Top 10 Most Admired African Brands (unprompted), just as it was also […]
Mastercard Foundation appoints new member to its board of directors
BusinessamJune 26, 2018
The Mastercard Foundation announced Tuesday the appointment of Jennifer Fonstad to its board of directors. “I’m thrilled to welcome Jennifer to the Foundation,” says Jim Leech, chair, Mastercard Foundation board of directors. “Technology continues to revolutionize the future of work around the world. Jennifer’s insight will be invaluable in our effort to achieve our goal […]
Transcorp appoints Omogiafo executive direcor
BusinessamJune 26, 2018
Owen Omogiafo, has been appointed an executive director of Transnational Corporation of Nigeria Plc (Transcorp), one of Nigeria’s leading conglomerates. He appointment takes effect from from July 1, 2018, the company announced in a statement made available to business a.m. According the company, Omogiafo as executive director will support in driving and delivering on Transcorp’s […]
Total Nigeria records 2nd highest profit ever despite economic headwinds in 2017
Adesola AfolabiJune 21, 2018
Total Nigeria posted its second highest result with a profit of N8 billion in 2017 despite the economic headwinds of recession and the consequent contraction of the downstream market, according to Stanislas Mittelman, chairman of the board of the company. Total’s profit for the year recorded a 46 percent decline to N8.0 billion from N14.8 […]
Nigeria’s GTBank announces early branch closure Friday for half-year audit
BusinessamJune 21, 2018
Guaranty Trust Bank Thursday announced early closure of all its branches nationwide on Friday, June 29, 2018 to enable it complete its half-year audit. In a notice to all customers the bank said branches in Lagos would close at 3pm while those outside of Lagos would shut their doors by 2pm on that day. “Please […]
Shareholders seek higher 2018 returns from Stanbic IBTC, endorse N5.02bn final dividend for 2017
Adesola AfolabiJune 20, 2018
Shareholders of Stanbic IBTC attending the sixth annual general meeting of the company have called for higher returns in the 2018 financial year even as they unanimously endorsed the dividend payment of N5.02 billion for the 2017 financial year. Along with an earlier interim dividend payment, total dividend per share came to N1.10, amounting to […]
Nigerian steel, aluminium firms in crisis, could go extinct in 10 to 20 years
Anthony OgboJune 19, 2018
Companies operating in the steel and aluminium subsector of manufacturing in Nigeria are in trouble and it has been estimated that if a rescue package is not put in way by way of effective policies in 10 to 20 years from now they may go into extinction. A raft of huge financial indebtedness by sector […]
May & Baker partners Nigeria’s NIPRD to manufacture sickle cell drug
Businessam StaffJune 19, 2018
May & Baker Nigeria Plc., one of the leading drug manufacturers in Nigeria, has signed an agreement with the National Institute for Pharmaceutical Research and Development (NIPRD) for commercial production of anti-sickle cell drug, NAPRISAN. Nnamdi Okafor, managing director/CEO May & Baker explained that the company took on the task of producing NIPRISAN to provide […]
Okomu oil declares N3 dividend per share
Businessam StaffJune 13, 2018
Okomu Oil Palm Company Plc, a local palm oil producer in Udo in Ovia South West local government area of Edo state, Nigeria has declared a dividend payment of N3.00k per ordinary share. The company, according to the 2017 annual report and account, made N2.8 billion profit after tax and the money had been declared […]