Author: citibusinessnews
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Atlas inks beer bottles deal for its Ethiopia glass plant
NSE-listed Atlas Africa Industries has inked an agreement with Ethiopian Raya Brewery for supply of beer bottles which will be made at Atlas’ upcoming glass plant near Addis Ababa. Atlas said Tuesday that it has signed a memorandum of understanding (MoU) with Raya with the full agreement set to come into force once the firm…
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Algeria: Attacks in Belgium – Air Algerie Suspends Marketing of Tickets to Brussels
Air Algerie CEO, Mohamed Abdou Bouderbala announced Tuesday, in Oran, the temporary suspension of airplane tickets to Belgium following the attacks which targeted, in the morning, the Brussels-Zaventem international airport. “We do not have regular flights to Brussels this Tuesday and Wednesday but we have decided to suspend the marketing of tickets to Belgium until…
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Nigeria’s state oil firm said to have withheld $25bn
Nigeria’s state oil company failed to remit 4.9trn naira ($25bn) to the public purse between January 2011 and December 2015, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) said on Tuesday. It is the latest announcement on the issue of remittance by the Nigerian National Petroleum Corporation (NNPC) in recent days. Last Monday the auditor-general…
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Saudi prince, Kenya partners locked in battle for agro-firm
A Saudi prince has sued three Kenyans he accuses of forging his signature and transferring ownership of a multi-billion shilling food security company to themselves without his consent. Prince Sultan Bin Nasser Bin Abdul Aziz Al Saud claims in court documents that his majority shareholding of 900 out of 1000 shares of the Arafco Agriculture…
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Brussels Attack: Brussels Airlines resumes operations
Brussels Airlines has resumed operations today March, 23, 2016 after a suspension of activities yesterday March 22, 2016. The airline grounded flights following the attack at the Brussels airport and a central metro station, Tuesday morning. But a statement issued by the Airline indicated commencement of flights to Brussels effective today, March 23. The statement…
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Nigeria: World Bank Laments ‘Wide Gap’ in Digital Divide
Abuja — The World Bank yesterday said despite improvement in Internet penetration worldwide, there was still wide digital divide in both access and capacity while its anticipated dividends in terms of growth and massive jobs creation remained unseen. It said Internet access remained highly discriminatory and has not really contributed to poverty reduction. World Bank…
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Cashew export ban: Processors warn of massive drop in profits
Cashew processing companies have hinted of a massive decline in their profit margins following the withdrawal of the ban on the exportation of raw cashew nuts. [contextly_sidebar id=”5HsOOaRYWU8qhmkkvZXX3T6NHLH5UjH7″]They contend the situation may eventually compel them to take some drastic decisions which are likely to include layoffs. The caution comes days after the Trade Ministry reversed…
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(Audio) Prices of foodstuff to hit all time high
Players in the food stuff value chain have warned the prices of food stuff will hit an all time high across markets in Accra. The development follows the recent drought that hit parts of Ghana. Citi Business News’ Jessica Aryee visited the Makola market and has filed this report. Click to listen to the full audio…
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Capital Bank partners Ria to enhance money transfer services
Capital Bank Ghana has entered into a strategic partnership with one of the world’s biggest money transfer operator, Ria, to boost remittances to Ghana. The partnership will facilitate the integration of Capital Bank’s internet based systems to ensure that money transferred through Ria is received instantly across all the bank’s branches and partner outlets. [contextly_sidebar…
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MoneyGram marks 2 decades in Nigeria
MoneyGram is celebrating over twenty years of successful business operations in Nigeria. The company has experienced substantial growth since it started business in Nigeria, building a successful relationship with other major companies in Lagos. The CEO of MoneyGram, Mr. Alex Holmes, announced that the company has hosted senior executives of the company to deliberate on…