India to overtake China as economic superpower as workforce to expand to 1.08bn in 20yrs
Businessam Staff
September 18, 2017
India is poised to emerge as an economic superpower, driven in part by its young population, while China and the Asian Tigers age rapidly, reports Bloomberg, quoting Deloitte LLP. Currently, about one-third of India’s working age population is between 15-64. And this gives India a chance, better than China and Japan, to reap the benefits […]
Ethiopian Airlines plans major expansion of regional ventures, takeover of Nigeria’s Arik Air misreported, says CEO
Businessam StaffSeptember 17, 2017
Ethiopian Airlines Enterprise is in talks about founding regional divisions in Zambia and Chad and aims to buy part of the Democratic Republic of Congo’s national operator in a push to consolidate its lead as Africa’s biggest carrier. An outline plan for a joint-venture airline in Zambia should be signed with the government and private-equity […]
Nigeria consumer inflation in 7-month low at 16.01% in August as base effect wanes further
Businessam StaffSeptember 15, 2017
Nigeria’s consumer price index (CPI), which measures inflation or the average change over time in prices of goods and services consumed by people for day-to-day living, increased by 16.01 percent year-on-year in August 2017, representing a 0.04 percent slowdown than the rate recorded in July (16.05%). The August inflation figures as released by Nigeria’s statistical […]
Oil outlook brightens as prices near $56 on rising demand
Businessam StaffSeptember 15, 2017
Though oil prices opened the week lower, there are expectations Friday that they are on course for weekly gains, the third in a row in the case of Brent as the cleanup after hurricane in the United States gathers pace and the outlook for demand rise. Specifically, Brent crude futures were at $55.24 a barrel […]
United Nations urges end to austerity, calls for ambition to rebalance global economy
Businessam StaffSeptember 15, 2017
The global economy appears stuck on its way to recovery, according to a United Nations Conference on Trade and Development (UNCTAD) report released Thursday, which urges an end to global austerity. Launching the report, Mukhisa Kituyi,UNCTAD Secretary-General said, “A combination of too much debt and too little demand at the global level has hampered […]
Danish govt taps into Nigeria’s N800bn animal feeds market with 10% equity financing in NNPC, Unibio A/S JVC
Businessam StaffSeptember 14, 2017
In a bold move to tap into Nigeria’s N800 billion animal feeds market, the Danish government is to guarantee a 10 percent equity financing in a joint venture company (JVC) involving the Nigerian National Petroleum Corporation (NNPC) and a Danish firm, Unibio A/S Limited, according to a statement from the NNPC. Maikanti Baru, NNPC group […]
DANGCEM buoys Nigeria equities index 0.55% as Nigerian stocks slip out of bear market
Businessam StaffSeptember 14, 2017
Nigerian stocks slip out of its bear market trading Thursday as the bourse’s benchmark index rose 0.55 percent, chiefly helped by price appreciation in Dangote Cement (DANGCEM). At the end of Thursday’s trade, the Nigerian Stock Exchange (NSE) all-share index settled at 35,660.04 basis points as against 35,464.34 points previously with year-to-date gain improving to […]
Nigeria, South Africa score high on risk, losing investment appeal to militancy, political instability, others – Report
Businessam StaffSeptember 14, 2017
Despite recent recovery in Nigeria and South Africa, a newly released Africa Risk-Reward Index developed by Control Risks and Oxford Economics, says the two African economic giants, together with Egypt, have stumbled recently and may face increasing competition for investment from Kenya and Ethiopia. “Africa’s economic giants, Nigeria, South Africa and Egypt, have been stumbling […]
Nigeria’s Dangote Cement officially confirms takeover interest in South Africa’s largest cement maker, PPC
Businessam StaffSeptember 14, 2017
Nigeria’s Dangote Cement has officially communicated its interest in buying over South Africa’s largest cement company, PPC Group Limited. In a press statement signed by Mahmud Kazaure, its company secretary, which was released late Wednesday to the Nigerian Stock Exchange, Dangote Cement Plc (DCP) confirmed that its board of directors “has merely communicated its interest […]
Nigeria-based Interswitch sees delayed IPO concluded by end-2019
Businessam StaffSeptember 14, 2017
Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019. The initial public offering to raise as much as $1 billion had been scheduled for 2016 and was delayed because equity markets were not as “favorable as we would have liked,” Akeem Lawal, […]