Olam International posts 1.5% dip in Q3 net profit to $20.4m

Steady operating performance with Q3 2019 and 9M 2019 EBITDA up 25.2% and 16.9% to S$286.9 million and S$1.1 billion respectively, driven by...

Zedcap Partners Adjudged Best Brokerage Service Firm at 2019 FMDQ Gold Awards

Zedcap Partners Limited (ZPL), the Securities Brokerage arm of Zedcrest Capital Limited has been adjudged the Best Brokerage Service firm in Nigeria at the...

European Investment Bank Expands Trade & Investment Insurance Benefits To West Africa

European Investment Bank supports expanded membership of Africa Trade Insurance Agency; Availability of investment insurance to strengthen investment and reduce project financing costs; Agreements...

FBNQuest Merchant Bank Shares Insights To Generational Wealth Transfer At Its Wealth Management Customer Forum

FBNQuest Merchant Bank, the investment banking and asset management business of FBN Holdings Plc, recently hosted its clients to a Wealth Management Customer Forum,...

Telecom & IT

Visa Introduces Suite Of Security Capabilities To Help Prevent And Disrupt Payment Fraud

Visa launched a suite of innovative security capabilities to help prevent and disrupt payment fraud, breaking new ground in...

Tizeti Launches High-Speed 4G LTE to Accelerate Broadband Penetration in Nigeria

The launch of its 4G network provides Tizeti with the opportunity to drive the growth in demand for eCommerce, music, interactive games and video...

5 Cybersecurity Dangers Everyone Should Know About

There’s so much focus on the massive cybersecurity and data breach or the malware that holds your computer to ransom. However, it’s also important to keep your guard...

MTN Nigeria Earnings Review 9M 2019: Strong Operations but Leverage Casts a Shadow

Increased revenues by 12.0% y/y growth Jump in net finance costs by 113.4% y/y Solid performance, good buy Data revenue surge as voice remains...

Less than half women in world use internet – Report

Over half of women around the world still do not use the internet. The first report in the International Telecommunication Union’s new 'Measuring digital...

Business & Economy

Nigeria Customs Service receives N5.34billion from FAAC in September 2019

The Federation Account Allocation Committee (FAAC) disbursed the sum of N740.87bn to the three tiers of government in September 2019 from the revenue generated...

Halima Aliko Dangote Takes charge of Dangote Group Commercial Operations

Dangote Industries Appoints Halima Aliko Dangote as GED Commercial Operations LAGOS, Nigeria, November 11, 2019,/ -- Halima Aliko Dangote has been appointed as the Group...

Six Charts On How Elevated Global Uncertainty Is Creating Challenges For Sub-Saharan Africa

Growth in sub-Saharan Africa is expected to pick up, though at a slower pace than previously expected. This revision reflects a more challenging external...

Dangote Group, Togo Partner To Transform Phosphate Into Fertiliser

Dangote Industries Limited and the Government of Togo (GoT) have concluded an agreement to develop and transform Togolese phosphate into phosphate fertilizers for the...

Nigeria Breweries Earnings Review: Excise pressures and high leverage weighs on 9M profit

A decline in net revenue by 1.0% Margins are thinner and this impacts on profits A dividend of N 0.50/s declared and translates...

SME Corner

DBN, NSE partner to create capacity for MSMEs

The Development Bank of Nigeria (DBN) has announced her partnership with the Nigerian Stock Exchange, the two organizations would...

Photo News: Development Bank of Nigeria MSME Summit, Maiduguri, Borno State

The Development Bank of Nigeria (DBN) on Tuesday 29th October 2019 held for the first time in Borno, a...

N150 million Up For Grabs As Access Bank and Star Lager Beer Unveil ‘Access The Stars’

Two of Nigeria’s biggest brands are teaming up for a mega opportunity to discover new music talents across the...

P&G Nigeria partners Bank of Industry to catalyze the SME sector through skilled Academy

Leading manufacturers of trusted quality brands in Nigeria, Procter & Gamble, in partnership with FMITI and the Bank of...

Union Bank Plc secures $200m in OPIC funding for SMEs and women’s initiatives

Union Bank of Nigeria Plc has secured $200 million in funding through a partnership with Sub-Saharan Africa financial services...

Beverages

Heineken Introduces Cardboard Rings to Reduce Plastic Pollution

Heineken, the Dutch beer giant is getting rid of the plastic six-pack rings and shrink wrap that holds its beer cans together in favour...

Monument Distillers Nigeria Limited announces the appointment of Mr Godwin Oche as CEO

Monument Distillers Nigeria Limited (MDN) launched in Nigeria in March 2019 with the acquisition of the 1960 Rootz Bitters brand and the state-of-the-art manufacturing...

Nigerian Breweries Plc 9M-19: …Marred by weak earnings amid increased excise duty

Unimpressive earnings in Q3’19, albeit relatively better. Nigerian Breweries (“The Group” or “The Company” or “NB”) reported an improved Q3’19 result although the Company made...

Must Read

Spectranet and Nokia to provide 100+ Mbps ultra broadband services with FTTH to home and business users in Nigeria

Nokia GPON solution helps Spectranet better serve its customers by adding FTTH services to its current portfolio of LTE  wireless broadband access services ...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is held. The sort code is...

Zenith Bank Earnings Update 9M-19: Rapidly driving e-banking volumes

Zenith Bank Plc (“ZENITH”) released its 9M-19 results earlier, showing a 3.5%y/y growth in Gross Earnings (GE) to N491.3bn. Also, PBT and PAT increased...

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and Authorised dealer stores nationwide. MIDEA STORES...

Nigeria’s Interswitch Confirms $1B Valuation after Visa Investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the most valuable African fintech...

Jumia Reports Q3 2019 Results: Marketplace revenue up 52% and Gross profit up 45% year-over-year

JumiaPay Total Payment Volume up 95% and JumiaPay Transactions up 262% year-over-year LAGOS, Nigeria -Jumia Technologies AG (NYSE: JMIA) (“Jumia” or the Company) announced today its financial results...

Agro News

Tiger Brands to dispose its meat processing unit amid struggles to lift performance

Tiger Brands, a South African packaged food company is exploring the sale of its processed meats business, which was temporarily closed last year following the world’s largest-ever Listeria outbreak that has negatively impacted the performance of its meat business. The...

Agricultural Sector 9M-19 earnings: How well?

The re-occurrence of smuggling of cheaper palm oil into the country and falling CPO prices in the early part of the year played a...

Dangote Sugar Refinery Plc Notifies of Proposed Business Combination Within The Dangote Sugar Group

This is to inform the investing public that the Board of Directors of Dangote Sugar Refinery Plc (DSR) has recommended a business combination via...

Paddy Rice Markets in 2019: A Primer on AFEX’s Outlook

Agricultural commodity prices are by their very nature seasonal, that is, they fall to their lowest around harvest and rise consistently as the lean...

Kwara trains team ahead National Livestock Plan takeoff, Gov says initiative key to economic growth

Kwara State Governor AbdulRahman AbdulRazaq has said his administration has keyed into the Federal Government’s National Livestock Transformation Plan (NLTP) to drive economic growth,...

Video News

Energy & Power

The One Factor Driving Today’s Oil Markets – Report

OilPrice Intelligence Report Oil continues to seesaw on every rumour (positive or negative) regarding the U.S.-China trade war. As a result, a lot of attention...

Azura Power Invests In Tobene Power In Senegal, Brings Together Actis, Azura’s Majority Shareholder, With Africa50

The 115MW Tobene Power plant in Senegal, which was part of the Melec Power Gen (“MPG”) portfolio now forms part of Azura Power’s pan-African...

The Bulls Are Back As Oil Heads Towards $60 – Report

OilPrice Intelligence Report Oil prices moved higher at the start of the week as signs of a trade breakthrough between the U.S. and China continue...

Federal Government Pledges Support Towards Completion of Dangote Petroleum Refinery

The Dangote refinery, which is designed to maximise petrol output, will produce enough to allow for a small surplus of that fuel for export. The...

Real Estate

2019 Housing Finance In Africa Yearbook Launched With Regional Argument For Investment In Affordable Housing

The Housing Finance in Africa Yearbook is the flagship publication of Centre for Affordable Housing Finance in Africa (CAHF) and remains the only publication...

BUA’s Obu Cement, CCNN set to merge as Group consolidates entire Cement business

announces completion date for new $450million Kalambaina II Plant bringing total capacity to 11million mtpa This morning, the BUA Group announced – in...

Lafarge Africa: Over-Proportional Profitability Increase In Q3 2019 Results

− Strong Q3 EBITDA (pre-IFRS 16) increase of 32,7% vs LY − Operating profit multiplied by 2,7x in Q3 vs LY − Q3 finance costs drop...

British Airways Reveals 2020 Holiday Hotlist

Airline reveals its most popular holiday destinations for 2020 All-inclusive is the holiday of choice for British Airways Holidays customers Until 29 October, customers...

Kotoka Ranked Best Airport in West Africa

Ghana's Kotoka International Airport has been adjudged the best airport in West Africa and the fourth-best in the World by the Airport Council International...

Transcorp Hotels Fulfills Post-Privatization Obligations

Abuja, Nigeria October 14, 2019: The National Council on Privatization (NCP) at its meeting today, 1 4 October 2019 presented Transcorp Hotels Plc with...

Enjoy Britain’s spooky, fiery Autumn delights

For many travellers, Autumn is the ideal time to visit Britain. Attractions are generally less crowded than at the height of summer. The country’s...

Retail - Brick & Click

Konga is built on sound, ethical behaviour, says Co-CEO, Imudia

E-commerce giant, Konga has assured its numerous customers and other stakeholders of its continued adherence to the highest level of ethical conduct. Giving the assurance...

Jumia Reports Q3 2019: JumiaPay Total Payment Volume up 95% and JumiaPay Transactions up 262% year-over-year

Marketplace revenue up 52% and Gross profit up 45% year-over-year  LAGOS, Nigeria - Jumia Technologies AG (NYSE: JMIA) (“Jumia” or the Company) announced today its financial results for...

Konga Yakata Goes Live As Shoppers Deny Sleep To Grab Mega Deals

Thousands of eager shoppers stormed the website of foremost e-commerce giant, Konga to be among the first to grab the mega deals on offer...

Crowds besiege Konga Store at Victoria Island for pre-Konga Yakata experience

Bargain-hungry Nigerians have besieged the new Konga retail store located at Saka Tinubu, Victoria Island, Lagos for a taste of the pre-Konga Yakata shopping...