Yamaha partners MAX on finance, maintenance of over 50,000 vehicles
Onome AmugeJuly 25, 2022
BY Onome Amuge, Moto Business Service Nigeria (MBSN), a subsidiary of Japan’s Yamaha Motor Corporation, has announced a strategic partnership with Metro Africa Xpress Inc. (MAX), Africa’s largest low-to-zero emission vehicle platform, to finance and maintain over 50,000 vehicles in Nigeria over the next two years. The partnership is expected to expand MAX’s operations in […]
BUA Cement pays shareholders 97.72% of N90.1bn profit as dividend
Onome AmugeJuly 22, 2022
BY Onome Amuge. Shareholders of BUA Cement Plc, one of the most capitalised entities on the Nigerian Exchange (NGX), reaped a bumper dividend harvest at their recently held annual general meeting where they considered the company’s financial report for the year ended December 31, 2021. A total of N88.047 billion out of a profit after […]
MTN applies to SEC for 2nd N200bn bond issuance, clarifies 2021 tax remittance
Chisom NwatuJuly 20, 2022
BY Chisom Nwatu Telecommunication giant MTN has applied to the Securities and Exchange Commission (SEC) in respect of the registration of a new N200 billion Bond Issuance Programme (Second Bond Issuance Programme). This development follows the successful 200bn debut bond issuance programme in 2021. In a filing with the NGX, MTN said the second issuance […]
Suzuki by CFAO partners ETAP to give drivers seamless access to insurance
Rosemary IwualaJuly 20, 2022
BY Rosemary Iwuala. CFAO Motors, the sole distributor of Suzuki cars in Nigeria, has partnered with ETAP to enable seamless access to insurance with every new car purchased from the Suzuki network for Nigerian drivers. In the course of the partnership, drivers will now be able to buy insurance in 90 seconds, complete claims in […]
Dangote Industries completes Nigeria’s largest corporate bond issuance worth N187.6bn
Onome AmugeJuly 19, 2022
By Onome Amuge Dangote Industries Limited (DIL), one of Africa’s leading, diversified and fully integrated conglomerates, has announced the successful completion of its N187.6 billion Series 1 Bond Issuance, the largest corporate bond ever issued in the history of the Nigerian capital market. The landmark transaction represents the company’s first issuance at group level and […]
United Capital’s profit after tax gains 41% to N4.44bn in H1 2022
Onome AmugeJuly 19, 2022
BY Onome Amuge. United Capital Plc has announced a profit after tax of N4.44 billion for the half year ended 30 June, 2022, a 41 percent growth compared to N3.14 billion recorded in the corresponding period of 2021. The Nigeria-based financial and investment services company, in its unaudited financial statement, said its gross earnings rose […]
Dangote Cement partners agencies, stakeholders to promote environmental sustainability
Rosemary IwualaJuly 19, 2022
BY Rosemary Iwuala. Nigeria’s bid to reduce carbon emissions has received a boost as pan-African cement manufacturer, Dangote Cement Plc, has entered into partnership with the United Nations Environment Programme (UNEP) and National Environmental Standards and Regulations Enforcement Agency (NESREA) to promote environmental sustainability. Dangote Cement also collaborated with the Lagos Business School Sustainability Centre […]
Access Bank to boost education with $1.7m Polo tournament proceeds
Access Bank, Chisom NwatuJuly 19, 2022
BY Chisom Nwatu. Nigeria’s leading tier-1 lender Access Bank has said it would plough the proceeds from its Charity Polo Tournament held on Saturday, 16 July, 2022 into improving education in the country. The bank said the fund, a total of $1.7 million raised at the tournament held at The Guards Polo Club, Egham, Surrey, […]
Unilever Nigeria’s profit after tax up 167% to N1.91bn in H1 2022
Onome AmugeJuly 19, 2022
BY Onome Amuge. Unilever Nigeria Plc has reported a profit after tax of N1.91 billion in its half year unaudited financial statement for the period ended 30 June, 2022, reflecting 167 percent growth compared to N714.78 million recorded in the same period of 2021. The manufacturing firm, which attributed the strong growth performance to the […]
Cassava Technologies secures $50m funding to accelerate digital transformation in Africa
Onome AmugeJuly 18, 2022
BY Onome Amuge. Cassava Technologies, a pan-African integrated digital solutions company, said it has secured a $50 million investment fund from London-based specialist venture capital firm, C5 Capital (C5), renowned for its investments in cyber security, space, and energy security. In a press statement sent to Business A.M, Cassava noted that the multimillion-dollar investment is […]