eTranzact pays 10k per share dividend on N449m profits for 2016
Businessam Staff
July 27, 2017
eTranzact, the Nigeria electronic payment company, Thursday, held a successful 2016 annual general meeting in Lagos, the country’s commercial capital where shareholders voted for the payment of 10 kobo per share dividend presented to them by the board. The dividend payment comes on the back of pre-tax profit of N449.4 million made during the full […]
Transcorp now in black after a year in the red, declares N4.2 billion profit
Businessam StaffJuly 27, 2017
Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s foremost conglomerate, has announced financial results for its second quarter ended June 30, 2017, showing significant growth in key financial indicators. The company recorded N4.2bn as profit after tax (PAT) for the half-year ended 30th of June 2017, translating into 134 percent growth compared to the loss of […]
Union Bank unveils cardless transaction apps
Businessam StaffJuly 27, 2017
Union Bank of Nigeria, Wednesday unveiled a new version of its mobile banking applications, UnionMobile and *826#, designed to enable customers make card-less transactions anywhere, among others. Emeka Emuwa, the Chief Executive Officer of the bank, at the launch in Lagos, said that the introduction of the new applications was to improve its services to […]
South Africa mobile operator MTN to swing back into profit
Businessam StaffJuly 27, 2017
MTN expects to swing back into profit in the first half of its financial year after a 330 billion naira ($1.1 billion) fine paid in the previous reporting period weighed on margins, the company said on Thursday. Africa’s biggest wireless network group expects headline earnings per share (HEPS) to be between 210 cents and 230 […]
NBC champions Coca-Cola Hellenic Group’s global sustainability mandate in Nigeria
Businessam StaffJuly 26, 2017
Nigerian Bottling Company (NBC), the soft drink and water producer and partner to global non-alcoholic powerhouse, Coca-Cola Hellenic Bottling Group, says it continues to champion the worldwide mandate of its group’s environmental sustainability programme in Nigeria. Last year, Coca-Cola HBC was named by the Dow Jones Sustainability Indices as beverage industry leader for the third […]
Etisalat’s Q2 net profit up 6%, subscriber base up 2%
Businessam StaffJuly 26, 2017
United Arab Emirates-based telecoms operator Etisalat said on Wednesday it posted a 6 percent increase in second-quarter profit from a year earlier, according to Reuters’ report. Etisalat, which recently pulled out of Nigeria, made a net profit of 2.2 billion dirhams ($600 million) in the three months to June 30, it said in a statement. […]
Boeing raises 2017 earnings forecast
Businessam StaffJuly 26, 2017
Boeing Co reported a quarterly profit compared with a loss a year ago when it booked a charge and raised its full-year core profit forecast. The world’s biggest maker of jetliners said it expects 2017 core earnings per share in a range of $9.80 to $10.00, up from its previous forecast of $9.20 to $9.40. […]
Uber looks to Hewlett Packard Enterprises’ Meg Whitman in CEO search
Businessam StaffJuly 26, 2017
In a bid to fill its leadership vacuum, ride sharing giant Uber has been searching for a new CEO. And among its candidates is reportedly Hewlett Packard (HPE, +0.22%) CEO Meg Whitman. According to Bloomberg, Whitman has recently been meeting with the troubled company’s leadership. Uber has reportedly developed a short list of less than […]
Guinness Nigeria N39.7bn capital raising gets on the way
Businessam StaffJuly 25, 2017
Guinness Nigeria Plc, the Nigeria arm of the Irish stout brewer, has got its capital raising programme on the way with the opening of applications for its rights issue. The company hopes to raise N39.7 billion from existing shareholders in a rights issue many analysts believe would be over-subscribed. The new equity funds raising will […]
9mobile, formerly Etisalat Nigeria, appoints advisers ahead of sale
Businessam StaffJuly 25, 2017
9mobile, formerly Etisalat Nigeria, has appointed advisers to manage the process of attracting investors to take over the telecoms company and has seen strong interest, the central bank governor said on Tuesday. The central bank and telecoms industry regulator intervened this month to save Nigeria’s fourth-largest mobile operator from collapse and prevent creditors putting it […]