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Thursday, July 9, 2020

FCMB eyes loan growth of 10-14% this year

ABUJA, May 5 (Reuters) - Nigerian mid-tier lender FCMB said on Tuesday it is targeting loan growth of 10% to 14% this year as the impact of the coronavirus pandemic prompts healthy companies to increase credit facilities in order to weather the crisis. That would...

Aliko Dangote Foundation Engages 54gene Laboratory to Conduct 1,000 COVID-19 Test per Day in Kano

The Aliko Dangote Foundation (ADF), a philanthropic endeavor of Aliko Dangote, has contracted 54Gene, a molecular diagnostics company specialized in research, and diagnostics, to immediately set up a 400 test/day capacity laboratory in Kano State. 54Gene is accredited by the Nigeria Centre for Disease...

SA’s MTN asks U.S. court to dismiss anti-terrorism case in Afghanistan

JOHANNESBURG, April 30 - South Africa’s MTN Group said on Thursday it has asked a U.S. court to dismiss a case filed against it in December accusing the telecoms company of paying protection money to militant Islamist groups in Afghanistan. It said in a...

APM Terminals commissions N33.6bn cranes in Lagos ports upgrade

By Godwin Oritse THE management of the Nigeria s biggest container terminal operator, A. P Moller Terminal Apapa, yesterday commissioned two new multimillion dollars state-of-the-art Mobile Harbor Cranes MHCs, valued N33.6billion, (about $80million), to boost its service delivery at the Apapa Port, Lagos. Speaking...

Bullished Investors oversubscribe DANGCEM’s N100bln bond

Dangote Cement Plc, Africa’s largest cement producer, had announced the successful issuance of N100 billion Series 1 Fixed Rate Senior Unsecured Bonds due April 2025 under the Company’s N300 billion Bond Programme. The transaction was 1.5 times oversubscribed and represents Dangote Cement’s debut bond issuance...

Nigerian media startup raises $600k seed to build Africa’s Bloomberg

Stears, a digital media and information startup known for providing access to high-quality information in Nigeria, has raised a seed investment of $600,000. The seed round was led by a Nigerian-based fund with participation from Luminate, a philanthropic organisation which is a part of the...

Facebook buys $5.7 Billion Stake in India’s Jio

Facebook Inc. will pay $5.7 billion for a 10% stake in India's Jio Platforms Ltd., the holding company for the mobile operator that upended India's telecommunications industry with its cut-rate data plans. The deal announced late Tuesday gives Facebook the opportunity to bring its WhatsApp...

Dangote Group, SAP collaborate to achieve digital transformation in record time

Image by © Kevin Burke/Corbis LAGOS, Nigeria April 20th, 2020, -- With two of the continent's most ambitious industrial projects underway, Nigeria's Dangote Group has achieved the seemingly-impossible with an SAP-led digital transformation that was completed in record time. "We want our Refinery to be not...

GP Global completes acquisition of lubricants assets of Nigeria’s Grand Petroleum

The acquisition further strengthens GP Global’s presence in Nigeria and West Africa GP Global has acquired the lubricants assets of Nigeria’s Grand Petroleum; Grand Petroleum is part of Nigerian conglomerate: The Nosak Group; the acquisition further strengthens GP Global’s presence in Nigeria and West Africa;...

AfDB Places Zhongmei Eng. on 12-months Conditional Non-debarment for Fraudulent Practice

The African Development Bank Group on 17 April 2020, announces a 12-month conditional non-debarment of Zhongmei Engineering Group Limited, an engineering company registered in Uganda. An investigation conducted by the Bank's Office of Integrity and Anti-Corruption established that Zhongmei Engineering Group Limited engaged in fraudulent...
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