South Africa mobile operator MTN to swing back into profit
Businessam Staff
July 27, 2017
MTN expects to swing back into profit in the first half of its financial year after a 330 billion naira ($1.1 billion) fine paid in the previous reporting period weighed on margins, the company said on Thursday. Africa’s biggest wireless network group expects headline earnings per share (HEPS) to be between 210 cents and 230 […]
NBC champions Coca-Cola Hellenic Group’s global sustainability mandate in Nigeria
Businessam StaffJuly 26, 2017
Nigerian Bottling Company (NBC), the soft drink and water producer and partner to global non-alcoholic powerhouse, Coca-Cola Hellenic Bottling Group, says it continues to champion the worldwide mandate of its group’s environmental sustainability programme in Nigeria. Last year, Coca-Cola HBC was named by the Dow Jones Sustainability Indices as beverage industry leader for the third […]
Etisalat’s Q2 net profit up 6%, subscriber base up 2%
Businessam StaffJuly 26, 2017
United Arab Emirates-based telecoms operator Etisalat said on Wednesday it posted a 6 percent increase in second-quarter profit from a year earlier, according to Reuters’ report. Etisalat, which recently pulled out of Nigeria, made a net profit of 2.2 billion dirhams ($600 million) in the three months to June 30, it said in a statement. […]
Boeing raises 2017 earnings forecast
Businessam StaffJuly 26, 2017
Boeing Co reported a quarterly profit compared with a loss a year ago when it booked a charge and raised its full-year core profit forecast. The world’s biggest maker of jetliners said it expects 2017 core earnings per share in a range of $9.80 to $10.00, up from its previous forecast of $9.20 to $9.40. […]
Uber looks to Hewlett Packard Enterprises’ Meg Whitman in CEO search
Businessam StaffJuly 26, 2017
In a bid to fill its leadership vacuum, ride sharing giant Uber has been searching for a new CEO. And among its candidates is reportedly Hewlett Packard (HPE, +0.22%) CEO Meg Whitman. According to Bloomberg, Whitman has recently been meeting with the troubled company’s leadership. Uber has reportedly developed a short list of less than […]
Guinness Nigeria N39.7bn capital raising gets on the way
Businessam StaffJuly 25, 2017
Guinness Nigeria Plc, the Nigeria arm of the Irish stout brewer, has got its capital raising programme on the way with the opening of applications for its rights issue. The company hopes to raise N39.7 billion from existing shareholders in a rights issue many analysts believe would be over-subscribed. The new equity funds raising will […]
9mobile, formerly Etisalat Nigeria, appoints advisers ahead of sale
Businessam StaffJuly 25, 2017
9mobile, formerly Etisalat Nigeria, has appointed advisers to manage the process of attracting investors to take over the telecoms company and has seen strong interest, the central bank governor said on Tuesday. The central bank and telecoms industry regulator intervened this month to save Nigeria’s fourth-largest mobile operator from collapse and prevent creditors putting it […]
Africa Prudential named best registrar in West Africa, unveils new corporate identity
Businessam StaffJuly 25, 2017
Africa Prudential Registrars Plc has been named the best registrar firm in West Africa by Africa-Canada Trade Alliance at the 7th Edition of the West Africa Innovation and Excellence Awards ceremony, which held at Abuja recently. A letter issued by the organisers said the innovation award celebrates outstanding innovations, brands and personalities in the public […]
Fidelity Bank denies alleged sack of drivers
Businessam StaffJuly 25, 2017
Fidelity Bank Plc has denied reports that it terminated the employment of some of its drivers without adequate compensation. In a statement signed by Charles Aigbe, Divisional Head, Brand & Communications of the bank, as a result of the false report, a group was planning to picket the institution. An extract from the bank’s statement, “our […]
$85.4bn AT&T, Time Warner tie-up talks begin with US officials
Businessam StaffJuly 24, 2017
U.S. antitrust officials have started talking to representatives from AT&T and Time Warner about possible conditions that could secure approval of their $85.4 billion tie-up, according to people familiar with the matter. Bloomberg is reporting that the early-stage discussions suggest that government lawyers have nearly finished their months-long look at how AT&T, the biggest pay-TV […]