FDI inflows fall 80.38% in a decade to $981m in 2017 on prolonged security concerns, infrastructure deficit
Steve Omanufeme
April 15, 2018
The quantum of foreign direct investment (FDI) in the country has slowed 80.38 percent in a decade due to poor investment climate, prolonged security concerns, and growing infrastructure deficit, according to analysts at Financial Derivative Company (FDC). They indicated that in recentness years, Nigeria’s FDI has been struggling, reaching a mediocre $981 million in 2017, […]
Krispy Kreme investing $7m in Nigeria outlets
Ajose SehindemiMarch 12, 2018
Krispy Kreme Doughnut Corporation, an American brand is investing $7 million in a network of outlets as it begins a journey into the Nigerian food and beverage market. The company’s executives said they would be offering 16 different varieties if doughnuts, as well as Nigerian blended coffee. The expansion into the Nigerian market is expected […]
Total Nigeria reports 46% decline in PAT, declares N5bn dividend payout
Businessam StaffFebruary 26, 2018
Total Nigeria Plc. has reported a massive decline of 46 percent in its pro t after tax for the year ended 31 December 2017 to ₦8 billion, from ₦11.7 billion in 2016. The world’s fourth-largest oil and gas company in its annual report for 2017 said that the revenue generated as at December 2017 stood […]
Nigeria central bank amends agric credit scheme guidelines to include non-interest financial institutions
Businessam StaffFebruary 22, 2018
The Central bank of Nigeria (CBN) has announced amendments to guidelines on its commercial agriculture credit scheme (CACS) to include the participation of non-interest financial institutions. The regulator in a circular to all banks and financial institutions dated February 16, 2018, said the revised guidelines are part of efforts to deepen access to finance and […]
UBA chairman preaches Africa to the world, says continent offers good investment opportunities
Businessam StaffJanuary 25, 2018
Tony Elumelu, group chairman, United Bank for Africa (UBA) and one of Africa’s top businessmen, has stressed the need to change the African narrative while concentrating on the myriad of opportunities inherent on the continent. Speaking during Richard Quest’s programme on CNN aired on the sideline of the ongoing World Economic Forum in Davos, Switzerland […]
There’s hidden way for investors to score big on tax reform- Goldman Sachs
Businessam StaffDecember 25, 2017
Goldman Sachs says to look at downtrodden small-cap stocks for stock-picking opportunities in the aftermath of GOP tax reform. When the dust around the tax bill settles, the firm says there will be plenty of chances for active managers to identify single stocks with upside potential. If the biggest firms on Wall Street can agree […]
FirstRand challenges U.K. lenders with Aldermore buy
Businessam StaffNovember 6, 2017
Africa’s largest lender by market value plans to take on Britain’s biggest banks with the takeover of Aldermore Group Plc as growth in its home market stutters. FirstRand Ltd. said Monday it agreed to buy all of Aldermore after winning the backing of the U.K. lender’s board and its largest shareholder. The offer, which values […]
Alphabet talks with Lyft about possible investment, source reveals
Businessam StaffSeptember 15, 2017
Alphabet Inc. is in discussions with Lyft Inc. about a possible investment in the ride-hailing company, potentially deepening an existing partnership between the two firms, a person familiar with the talks said on Thursday. According to Reuters, an injection of support from one of Silicon Valley’s largest companies could be a boost to Lyft as […]
China, India best bets for green investors, Morgan Stanley says
Businessam StaffSeptember 15, 2017
Emerging markets including China and India could be the best bets for investors hoping to fight climate change and boost returns, according to a report Thursday. If the planet heats up by 5 degrees Celsius (9 degrees Fahrenheit), well above the 2-degree threshold set by the Paris Accord, investors may face $7 trillion in global […]
Net investments in Romanian economy, slightly down in H1
Businessam StaffSeptember 11, 2017
Net investments in the Romanian economy dropped by 0.2% in the first half of this year compared to the similar period in 2016, to over RON 29.7 billion (EUR 6.4 billion), according to the country’s National Statistics Institute (INS). Investments in new construction work rose by 2.2% year-on-year. Overall, the share of net investments in […]