Weak U.S. manufacturing underscores slowing economic growth

May 31, 2019

New orders for U.S.-made capital goods fell more than expected in April, further evidence that the economy was slowing after a growth spurt in the first quarter that was driven by exports and a buildup of inventories. The report from the Commerce Department on Friday also showed orders for these goods were not as strong […]

Nigeria govt announces new building code to safeguard lives, property

Businessam StaffJune 13, 2018

Babatunde Raji Fashola, Nigeria’s minister of power, works and housing, said Tuesday that the federal government has passed the Revised National Building Code into law. The code regulates construction with the aim of improving on measures to safeguard lives and property in the country. The minister made the announcement while inaugurating members of the Architect Registration […]

Steel production: Crucial road to be travelled

Ajose SehindemiMarch 13, 2018

For long, the Nigerian government has clamoured for the growth of the non-oil sector as a pathway to the nation’s development, focusing more on trade and exportation of raw materials. However, many analysts believe that the country needs to pursue industrialisation; but industrialisation needs a robust steel sector to emerge and thrive. They say without […]

African construction boom lures cement giants to circle PPC

Businessam StaffOctober 26, 2017

South Africa’s biggest cement maker, PPC Ltd., is an unlikely candidate for a takeover battle. The supplier of building materials reported a loss in its last fiscal year, doesn’t have a permanent chief executive officer and its home market has just come out of recession. Still, potential bidders are circling. PPC has received one formal […]

Afreximbank grants Arab Contractors $200m financing facility

Businessam StaffJuly 28, 2017

The African Export-Import Bank (Afreximbank) says it has granted Egyptian construction conglomerate, The Arab Contractors (Osman Ahmed Osman & Company) Limited, a $200-million multi-currency guarantee facility. This is contained in a statement by the bank’s Head of Communications, Obi Emekekwue, on Friday in Lagos. The statement quoted Benedict Oramah the bank’s President, as saying that […]