Nigeria’s railway e-ticketing platform launch set for next week
Arakunle Kayode
January 15, 2021
By Arakunle Kayode Rotimi Amaechi, Nigeria’s minister for transportation, has through a tweet post on his official Twitter handle on Wednesday, revealed that the federal government of Nigeria will commence an e-ticketing platform for the Nigerian Railway Corporation (NRC) one week from now. This followsearlier disclosures that the government has started test bookings on […]
Ardova enters acquisition talks with Enyo as part of expansion drive
Charles AbuedeJanuary 15, 2021
By Charles Abuede Ardova Plc, the successor company of the former Forte Oil, has disclosed that it is in talks with Enyo Retail and Supply Limited with a view to acquiring it. Enyo is regarded as one of the newest and fastest growing retail and supply firms in the Nigerian downstream oil and gas […]
DHL invests 126.5m rand in South Africa’s retail warehousing, logistics sector in expansion drive
Charles AbuedeJanuary 14, 2021
By Charles Abuede DHL Global Forwarding, in a strategic move that will see it reinforce its commitment and cement its market-leading position in South Africa has announced the investment of 126.5 million South African rand into a new warehousing facility in Johannesburg. The new investment deal will see DHL Global boast of 10,000 square […]
Coca-Cola appoints Olajide VP/MD, Nigeria operations, in global restructuring
Onome AmugeJanuary 12, 2021
By Onome Amuge The management of The Coca-Cola Company has confirmed the appointment of Alfred Olajide as its new vice president and managing director of operations in Nigeria following a global restructuring aimed at furthering the leading multinational beverage company’s aspiration to emerge stronger amidst a fast-changing global business environment. The new structural adjustment […]
Prudential Zenith Life exceeds minimum capital requirement
Zainab IwayemiJanuary 7, 2021
By Zainab Iwayemi Prudential Zenith Life says it has raised its share capital to N5 billion, an amount that exceeds the minimum capital life insurers are supposed to meet by end of December, 2020, as stipulated by regulator, National Insurance Commission (NAICOM). NAICOM had directed that insurers meet up 50 per cent to […]
Axa Mansard optimistic over 2020 returns despite year’s crises
Zainab IwayemiJanuary 5, 2021
By Zainab Iwayemi Axa Mansard, a composite risk underwriting firm, has reported its third quarter 2020 trading activities showing an after-tax profit of N5.7 billion, an amount which is nearly double its 2019 full-year profit despite the lockdown occasioned by Covid-19 and the #EndSARS protest. On the back of this, the insurance firm has […]
Peace Mass Transit takes major interest in C&I Leasing through loan stock acquisition
Charles AbuedeJanuary 5, 2021
By Charles Abuede Peace Mass Transit Limited, a transport, haulage and logistics services provider for businesses, individuals and intercity/interstate travellers in Nigeria has announced its acquisition of C&I Leasing Plc’s 313,326,316 units of the Neoma Africa Fund L.L.C. (formerly Aureos Africa Fund, L.L.C.) unsecured variable coupon redeemable convertible loan stock in registered units of […]
BUA Cement eyes dual listing after 37.82% oversubscription of N100bn corporate bond
Charles AbuedeJanuary 5, 2021
By Charles Abuede BUA Cement Plc has revealed that following the successful conclusion of its N100 billion bond offering during its Series-1 fixed-rate senior unsecured bond issue under the company’s maiden N200 billion bond issuance programme, an application to dual list the bonds on relevant exchanges would be made. The company said the dual […]
After breaking even in Nigeria, Opay eyes expansion in North Africa in 2021
Charles AbuedeDecember 30, 2020
By Charles Abuede Shortly after breaking-even in Nigerian market, OPay, a Nigerian Fintech start-up founded by Opera, has revealed plans to expand its payments service footprints to North Africa in the early months of 2021. This decision comes after Covid-19 precincts led to a prickle in transactions on its platform. According to Iniabasi Akpan, […]
Jumia’s Poignonnec talks laying groundwork for growth, off shooting divisions, new markets
Charles AbuedeDecember 17, 2020
By Charles Abuede Sacha Poignonnec, co-chief executive officer of Jumia Technologies AG, has said it is time to lay the groundwork for the next phase of growth in the company, with the e-commerce giant looking ahead of an immediate objective of generating profits from its spearheading African e-commerce business, spreading out longer-term plans to […]