UBA contactless cards hit industry high of 3m

Businessam StaffFebruary 19, 2018

United Bank for Africa (UBA) Plc. says it has issued of over three million near field communication (NFC) technology enabled contactless cards to its teeming customers. The contactless cards, introduced in 2015, are a revolution in the payments landscape in Nigeria in 2015, which enable customers to pay with ease by leveraging the NFC technology. […]

Japaul Services signs $350 million financing agreement with Milost Global

Ajose SehindemiFebruary 19, 2018

Japaul Oil and Maritime Services Plc. have signed a $350 million financing agreement with Milost Global Incorporated. The financing was arranged and negotiated by Palewater Advisory Group Inc in New York and Banklink Africa Limited in Nigeria. The funds will be injected into the company, with a focus on its mining operations. Milost Global had recently […]

UACN explains liquidation of Gossy spring water

Ajose SehindemiFebruary 19, 2018

United Africa Company of Nigeria (UACN) has listed low purchasing power, associated logistics challenges,100 percent reliance on company generated power and difficult operating environment as the reasons why it decided to liquidate its water business, Gossy spring water. The disclosure further lends credence to the position by members of the organised private sector about a […]

Challenger energy suppliers top customer satisfaction ranking

Businessam StaffFebruary 19, 2018

Challenger suppliers have topped an annual customer ranking of energy companies but overall satisfaction has dropped for the first time since 2011. Octopus Energy took first place for overall customer satisfaction with a score of 96% after being included in the uSwitch.com report for the first time after launching in 2016. Small suppliers swept the […]

GTBank reduces transfer fee to other banks on *737# service

Kayode OgunwaleFebruary 15, 2018

Guaranty Trust Bank Plc. has announced significant reduction in it USSD (*737#) money transfer charge to the other banks. The lender in a mail sent to its customers Thursday informed them of the reduction in the convenience fee when they transfer money to other banks using *737# service. “This means that you will now pay […]

Nigerian Breweries to pay shareholders N33bn dividend

Kayode OgunwaleFebruary 15, 2018

Nigerian Breweries

The board of directors of Nigerian Breweries Plc has announced its results for the 2017 operating year with a dividend recommendation of N33 billion to its shareholders. The recommendation, which amounts to a total dividend of N4.13 per share for the 2017 operating year was part of the company’s filing to The Nigerian Stock Exchange […]

Russia’s RDIF says to finalise Eurasia drilling deal with Aramco

Businessam StaffFebruary 14, 2018

The Russian Direct Investment Fund (RDIF) on Wednesday said it expected to finalise a deal with Saudi Arabia’s Aramco to invest in oilfield services firm Eurasia Drilling. “We expect to finalize an agreement very shortly to have our energy platform with Saudi Aramco invest in Eurasia Drilling and also provide services to Saudi Aramco,” Kirill […]

Coca-Cola HBC beats estimates, sees growth ahead

Businessam StaffFebruary 14, 2018

Coca-Cola HBC reported higher-than-expected full-year sales and profits on Wednesday, as improving economic conditions boosted sales volumes and prices. The company, which sells Coca-Cola drinks in 28 countries mostly in Europe, said it expected the improvement to continue this year with “further economic growth and healthy inflation,” according to Reuters’ report. “Europe, without Russia, is […]

Guinness makes board changes, appoints Njoroge executive director

Businessam StaffFebruary 12, 2018

Guinness Nigeria Plc. has notified the Nigerian Stock Exchange (NSE) and the investing public of changes in its board following the resignation of Ronald Plumridge as executive director. In to the NSE last Friday, Guinness said it has approved the appointment of Stanley Njoroge as a replacement to Plumridge effective March 1, 2018. Njoroge is […]