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Finance & Investment

NAHCO expands export warehouse capacity to handle increased cargo volumes

NAHCO aviance has expanded the size of its export warehouse, as part of plans tailored at increasing capacity to take care of growing cargo volumes. The new facility, comprising three sections; Annex Extension, the Canopy Area and the Ramp Area comes on the heels of expanding airfreight volume in the …

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Emirates Group records AED 2.3 billion (US$ 631 million) profit 2018-19 results

EMIRATES Group today announced its 31st consecutive year of profit and steady business expansion as it released today its 2018-19 Annual Report, posting a profit of AED 2.3 billion (US$ 631 million) for the financial year ended 31 March 2019, down 44% from last year. The Group’s revenue reached AED …

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Rwanda, Senegal Presidents attend, as Tony Elumelu Foundation hosts 5th Annual Entrepreneurship Forum

PRESIDENT of Rwanda, His Excellency Paul Kagame and President of Senegal, His Excellency Macky Sall, will join Tony O. Elumelu, CON, TEF Founder and Chairman of Heirs Holdings and the United Bank for Africa (UBA) and 5 000 other African entrepreneurs as The Tony Elumelu Foundation (TEF), hosts its 5th …

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Tony Elumelu Foundation highlights relevance, urgency of supporting entrepreneurial led economic growth in Africa

AT a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa, the Tony Elumelu Foundation brought together leading stakeholders in the development …

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Air Peace, Embraer ink $2.1bn deal for 30 brand new E195-E2 jets

AIR PEACE today (Wednesday) set a continental record in Africa with the signing of a US$2.1bn deal for 30 brand new Embraer 195-E2 aircraft. The deal which was unveiled during Embraer Business Meeting with the Aviation World in Port Louis, Mauritius, makes Air Peace the first to order the brand …

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FAAC shares N619,857b to FG, states and local governments

FEDERAL Accounts Allocation Committee(FAAC) has shared N619,857 billion federal revenue generated in the month of February 2019 among the three tiers of governments This is just as the FAAC has announced that the Excess Crude Account has the sum of $183million as at March 27, 2019. A communique issued by …

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UBA says diversification, stable funding structure will strengthen bank despite operating environment

UNITED Bank for Africa (UBA) Plc has stated that its well diversified asset book supported by stable funding structure, has placed it in a prime position to perform remarkably despite the falling economic indices in its operating environment. This is just as the Bank has assured its local and international …

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Shareholders approve 15k per share as dividend for Transcorp Hotels plc

Lauds company’s  impressive performance AFRICA’s leading hospitality brand, Transcorp Hotels Plc recorded a 26% increase in turnover, with shareholders unanimously endorsing a final dividend of ₦1.14bn for the 2018 financial year translating to 15kobo per ordinary share, which is a 20% improvement over the 12kobo per ordinary share for 2017. …

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Tony Elumelu Foundation Entrepreneurship Programme application closes March 1

founded by Abiodun Adereni, Help Mum, a Nigerian based enterprise that provides low-cost birth kits to prevent child and maternal mortality recently won the first ever Google Nigeria Impact Challenge and has attracted additional capital investments; iMed Tech, founded by Nneile Nkholise, innovates in the medtech space in South Africa by using technology to create breast prostheses for women with breast cancer;

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CCNN tops gainers, Newrest ASL led losers as Equities Market rises 0.58%

CEMENT Company of Northern Nigeria (CCNN) led the gainers chart as Newrest ASL Nigeria led the losers’ chart as the Nigerian equities market rose by 0.58 per cent amid bargain hunting activity. The All Share Index (ASI) was up by 172.74 basis points, representing an increase of 0.58 per cent …

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