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BRIEF: Millicom confirms bid for its shares
Global

BRIEF: Millicom confirms bid for its shares

The Board of Millicom International Cellular S.A. notes recent media articles regarding the Company and confirms that it has received a preliminary highly conditional non-binding proposal from Liberty Latin America Ltd. in relation to an offer for all shares of the Company. Millicom said in the statement that there is […]

Uncategorized

Wema Bank posts 73% rise in Q3 profit

Nigeria’s Wema Bank Plc has announced a 70 per cent growth in Profit Before Tax (PBT), from N1.80billion in Q3’2017 to N3.07billion in Q3’2018. Profit after Tax (PAT) rose by 72.55% to N2.64billion in Q3’2018 from N1.53billion in Q3’2017 while gross earnings grew by 7.96 per cent from N45.38billion in […]

Global

World Bank lifts growth forecast for Nigeria

The World Bank said in its latest growth guidance for Nigeria that the country is anticipated to accelerate to a 2.5 percent rate this year from 1 percent growth in the year just ended. In a newsletter update, the World Bank said an upward revision to Nigeria’s forecast is based […]

David Luboff joins KKR’s APAC infrastructure team
Global

David Luboff joins KKR’s APAC infrastructure team

KKR said David Luboff has been appointed as a Member and Head of Asia Pacific Infrastructure. He is based in KKR’s Singapore office and will lead the Pan-Asian operations of KKR’s global Infrastructure business. Mr. Luboff joins KKR from the Macquarie Group, where he spent over 18 years. Most recently, […]

Alibaba acquire Data Artisans for $103 million
Tech

Alibaba acquire Data Artisans for $103 million

China’s China’s Alibaba Group Holding said it has acquired Data Artisans. According to the Data Artisans in a statement, the acquisition was for a total of $103 million. The transaction marks the first full takeover by a Chinese company on Berlin’s growing startup scene. In the last significant deal, Alibaba’s […]

Fitch warns US on possible downgrade
Global

Fitch warns US on possible downgrade

Global credit rating provider, Fitch Ratings has warned of a possible cut to the U.S. triple-A sovereign credit rating later this year. The credit rating provider said if the ongoing government shutdown leads to it hitting its debt ceiling and hampering budget setting. “If this shutdown continues to March 1 […]

Nigeria’s Dealdey finally shut down
Tech

Nigeria’s Dealdey finally shut down

Nigeria’s one and only daily deals website, Dealdey has finally closed its operations. While the company did not provide information nor issue a formal statement as to why it closed down, there were obvious signs that its business model could no longer push withstand the market. It could be recalled […]