Nigeria’s Bank of Industry bags Karlsruhe sustainable devt award
Businessam Staff
August 1, 2017
Nigeria’s Bank of Industry (BoI) has bagged a Karlsruhe sustainable development award in Germany. The bank was awarded for its pioneering role in the deployment of electrification projects in some rural communities across Nigeria. The prestigious ‘Outstanding Sustainable Project Financing’ award was given to the bank at the 2017 edition of the Global Sustainable Conference, […]
Transcorp appoints Mutiu Bakare chief financial officer
Businessam StaffAugust 1, 2017
Transnational Corporation of Nigeria (Transcorp) has appointed Mutiu Adekunle Bakare as its chief financial officer effective August 7, 2017. In a note to the Nigerian Stock Exchange (NSE), Tuesday August 1, 2017, Transcorp described Bakare as an astute finance professional with over 15 years’ experience in finance management. “Bakare Mutiu brings enormous wealth of financial […]
Wal-Mart shuffles U.S. leadership teams in food, merchandising
Businessam StaffAugust 1, 2017
Wal-Mart Stores Inc has announced changes to its food leadership team in an internal memo, as it prepares for increased competition with grocery rivals and remains caught in a price war. Charles Redfield, executive vice-president for food at Wal-Mart U.S., unveiled the changes in the memo dated Friday and seen by Reuters. He said Wal-Mart […]
Heineken speeds past rivals on strong growth in Asian demand
Businessam StaffJuly 31, 2017
Heineken NV, the world’s second-largest brewer, outshone rival consumer-goods companies in the first six months of the year as emerging economies in Asia and Africa drove growth, Bloomberg report says. Revenue increased 5.7 percent in the first half as the Dutch brewer took the crown as the industry’s best performer from Budweiser-maker Anheuser-Busch InBev NV. […]
Half year: Dangote Cement records 12.6% increase in sales volume
Businessam StaffJuly 31, 2017
Africa’s largest cement producer, has announced its unaudited results for the six months ended 30th June 2017, posting a 12.6 percent increase in sales volume across Africa. In the financials released on the floor of the Nigerian Stock Exchange indicated that the increase in sales volume showed a growing capture of Pan-African market as Dangote […]
BA-owner IAG expects double-digit rise in 2017 operating profit
Businessam StaffJuly 28, 2017
British Airways owner IAG said on Friday that it expects operating profit for 2017 to show a double-digit percentage improvement following a strong second quarter, despite a massive power outage which grounded some flights. IAG said that operating profit for the six months to June 30 was 975 million euros, up 37.3 per cent compared […]
Delta builds a global alliance with Air France
Businessam StaffJuly 28, 2017
Delta Air Lines Inc., China Eastern Airlines Corp. and Air France-KLM Group are reaching for their checkbooks to forge a deeper global alliance. The U.S. and Chinese carriers will each buy a 10 percent holding in Europe’s biggest airline. At the same time, Air France-KLM will take a 31 percent stake in the U.K.’s Virgin […]
eTranzact pays 10k per share dividend on N449m profits for 2016
Businessam StaffJuly 27, 2017
eTranzact, the Nigeria electronic payment company, Thursday, held a successful 2016 annual general meeting in Lagos, the country’s commercial capital where shareholders voted for the payment of 10 kobo per share dividend presented to them by the board. The dividend payment comes on the back of pre-tax profit of N449.4 million made during the full […]
Transcorp now in black after a year in the red, declares N4.2 billion profit
Businessam StaffJuly 27, 2017
Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s foremost conglomerate, has announced financial results for its second quarter ended June 30, 2017, showing significant growth in key financial indicators. The company recorded N4.2bn as profit after tax (PAT) for the half-year ended 30th of June 2017, translating into 134 percent growth compared to the loss of […]
Union Bank unveils cardless transaction apps
Businessam StaffJuly 27, 2017
Union Bank of Nigeria, Wednesday unveiled a new version of its mobile banking applications, UnionMobile and *826#, designed to enable customers make card-less transactions anywhere, among others. Emeka Emuwa, the Chief Executive Officer of the bank, at the launch in Lagos, said that the introduction of the new applications was to improve its services to […]