Category: INTERNATIONAL
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Nigeria: Jaiz Bank Listed On Nigeria Stock Exchange
Nigeria’s foremost non-interest bank, Jaiz Bank Plc, was on Thursday listed on the Nigeria Stock Exchange, NSE. The listing, which is the second in 2017, added about N37 billion to the market capitalisation of the NSE. Earlier, Medview Airline was listed on the NSE, representing the first listing for the year. Following Thursday listing, the…
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Nigeria: Navy Rescues Oil Tanker From Pirates
As part of the strategy to rid the nation of maritime crimes, the Nigerian Navy yesterday rescued an oil tanker hijacked by pirates around Bonny Island According to officials, the rescue is another major feat in its ongoing operations against piracy and other criminalities in Nigerian waters. The Director of Information, Naval Headquarters, Navy Captain…
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SA: Kumba sells loss-making iron ore mine to ArcelorMittal
Kumba Iron Ore said on Thursday it is selling its Thabazimbi mine to the mine’s sole customer, ArcelorMittal South Africa (AMSA), for a nominal sum. Operations at the mine in northern South Africa ceased in September 2016 after a combination of factors, including high operating costs. Kumba, a unit of Anglo American and AMSA said…
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Kenya:World Bank values Dar’s real estate Sh273bn more than Nairobi
Tanzanian capital Dar es Salaam’s real estate has been ranked ahead of Nairobi and Addis Ababa in the World Bank’s latest cities report, which cites land fragmentation and weak property rights as the sector’s biggest impediments in Africa. The report, which was released yesterday, estimates the economic value of Dar’s real estate at Sh1.2 trillion…
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S.A labour agreements herald opportunities for inclusive growth
Nedlac negotiations result in an agreement that marks a profound improvement in tone of labour relations in SA Agreement addresses wage inequality, labour stability, and economic transformation Business Unity South Africa (BUSA) and the Black Business Council (BBC) have welcomed the announcement of a groundbreaking package of labour market interventions agreed to by business, labour,…
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Nigeria: Arik Air Vows to Challenge Govt Takeover
The management of Arik Air on Thursday said it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court. Ado Sanusi, Senior Vice President, Arik Air made the disclosure at a joint news conference with the newly appointed receiver manager, Oluseye Opasanya, and the airline’s technical consultant,…
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Egypt’s Strategic Wheat Reserves Sufficient for Four Months – Ministry
Egypt’s strategic wheat reserves are sufficient for the coming four months, the supply minister said on Thursday. In a statement, Minister Mohamed Ali Meselhy said that efforts are underway to diversify the sources of imported wheat to attract more offers at Egypt’s international wheat supply tenders. Egypt is the world’s largest wheat importer. In January,…
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Kenya:Small banks struggle for cash as big peers maintain tight fist
Small banks are still struggling for cash amid tighter liquidity in the market as their larger peers remain cautious on lending to them in the interbank market, analysts at Dyer & Blair Investment Bank and Renaissance Capital say. The liquidity in the Kenyan banking sector remains skewed in favour of larger lenders. The collapse of…
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East Africa: Ecobank’s quest for 100 mln customers by 2020
Pan-African group Ecobank Transnational plans to increase its customers to 100 million by 2020 from 10 million now, using technology to hit that goal, the chief executive said on Thursday. Speaking at the launch of the group’s new mobile banking technology in Kenya, Ade Ayeyemi told Reuters this would help the group reach more users…
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Nigeria: Arik Air goes into receivership
From all indications, respite may have come the way of Arik Airlines currently immersed in heavy financial debt burden that is threatening to permanently ground the airline. For some time now, the airline, which carries about 55% of the load in the country, has been going through difficult times that are attributable to its bad…