Joseph Nnanna named new chairman of Etisalat Nigeria
Businessam Staff
July 5, 2017
The Deputy Governor of CBN on Financial System Stability was announced the new chairman of Etisalat Nigeria in a press release by the company Tuesday, July 4. “Etisalat Nigeria today confirms that as a result of the on-going restructuring efforts, a new board has been constituted. It comprises of Joseph Nnanna – Chairman, Oluseyi Bickersteth, Ken […]
Guinness Nigeria starts $126 million share sale to cut funding costs
Businessam StaffJuly 5, 2017
Guinness Nigeria on Tuesday launched a share sale to raise 39.7 billion naira ($126 million) from existing shareholders to help lower its financing costs after reporting its first annual loss in 30 years last year, according to Reuters. The beer maker, the local division of the world’s leading spirit maker Diageo, said funds raised will […]
Ethiopian Airlines inaugurates modern cargo terminal
Businessam StaffJuly 4, 2017
Africa’s largest cargo operator, Ethiopian Airlines, has unveiled Cargo Terminal-II. Covering a total area of 150,000 m2 area of land, the new Cargo Terminal includes facilities such as Dry Cargo Terminal warehouse, Perishable Cargo Terminal with cool Chain Storage, fully automated with latest technology ETV (Elevating Transport Vehicle), G+2 office building, apron area which accommodates […]
Stanbic IBTC appoints Fabian Ajogwu independent non-executive director
Businessam StaffJuly 4, 2017
The board of directors of Stanbic IBTC Holdings Plc has approved the appointment of Professor Fabian Ajogwu, SAN as an independent non-executive director of the company with effect from July 03, 2017, following the receipt of all required regulatory approvals. In a statement signed by Chidi Okezie, the company secretary, and released on the Nigerian […]
Lafarge appoints Edith Onwuchekwa acting secretary
Businessam StaffJuly 4, 2017
Lafarge Africa Plc has announced the appointment of Edith Onwuchekwa as acting secretary. The company in a statement issued by Michel Puchercos, the Group Managing Director and Chief Executive Officer (CEO), said the appointment is pending the appointment of a substantive company secretary. “Lafarge Africa Plc has approved the appointment of Edith Onwuchekwa as acting […]
Electronics ban on U.S. flights to be lifted on July 5, Turkish Airlines CEO reveals
Businessam StaffJuly 4, 2017
The chief executive of Turkish Airlines expects the ban on electronic devices on flights the United States to be lifted on July 5, he said on Twitter on Monday. CEO Bilal Eksi did not give further details. On Sunday, the United States lifted a ban on laptops in cabins on flights from Abu Dhabi to […]
Nigeria Berger Paints confirms workers’ resumption two weeks after protest
Businessam StaffJuly 3, 2017
The management of Berger Paints Nigeria Plc has confirmed that the strike action embarked on by the unionized staff over the cessation of grattuity has been called off. The company in a statement signed by its secretary, Olusegun Oluwole, and made available to Nigerian Stock Exchange on Monday said all staff have resumed and operations […]
Afrexim Bank lifts Dangote with $1bn loan in move to strengthen businesses on the continent
Businessam StaffJuly 3, 2017
The African Export Import (AFREXIM) Bank has approved a $1billion loan for Dangote Group of Companies as part of its effort in strengthening businesses on the continent. The memorandum of understanding for the loan was signed at the 24th Annual General Meeting of the bank holding in Kigali, Rwanda. Paul Oramah, AFREXIM Bank’s president said […]
Kenya’s Barclays Bank to shut down seven branches
Businessam StaffJuly 3, 2017
Barclays Bank of Kenya said on Monday it plans to close seven of its branches in the East African country in October as part of cost cutting measures, Reuters reports. The bank is part of Barclays Africa, where majority owner Barclays Plc is reducing its stake It said the customers who hold accounts in the […]
Monarch commends Skye Bank for rewarding loyal customers
Businessam StaffJuly 2, 2017
Oba Saliu Adetunji Aje Ogungunniso 1, the Olubadan of Ibadan, has commended Skye Bank Plc., for rewarding loyal customers and helping them grow their businesses. He said this during the presentation of N1 million cheque to Ahmed Eniola Tolani, a civil servant who emerged the fourth lucky winner in the bank’s on-going “Reach for the […]