Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2018 to the Nigerian and London Stock Exchanges. A review of the results shows positive performance across all financial metrics and improved strategic positioning of the brand. Gross earnings for the year grew by […]
The Central Bank Governor of Nigeria, Africa’s largest economy, Mr. Godwin Emefiele will be leaving the apex bank. Apparently, Mr. Emefiele has completed his 5-year term in office after he was appointed to head the apex financial regulator in June 2014 by former President Goodluck Jonathan. While there are rife […]
The world’s largest brewer, Anheuser-Busch InBev, or AB InBev said it recorded growth in volume, revenue and market share growth achieved in many of our important markets including Nigeria. It would be recalled that AB InBev acquired SAB Miller for over $100 billion in 2016, a merger that automatically added […]
Nigeria’s President Muhammadu Buhari has just secured another four-year term. Contesting as the candidate of the All Progressives Congress, APC Party, Buhari was declared as president-elect by the Independent Electoral Commission, INEC, after he polled a total of 15,191,847 votes to edge out his closest rival, Alhaji Atiku Abubakar, the […]
London-based Standard Chartered PLC or StanChart said it has set aside $900 million to cover fines resulting from regulatory investigations in the United States and Britain. Stanchart is setting aside the sums to prepare for the likely fines it might pay for series of probes it is facing in both […]
Nigeria’s Sterling Bank Plc, said Arab Bank for Economic Development in Africa (BADEA) has extended $65 million credit facilities to Sterling Bank Plc. The tier two Nigerian lender said in a statement that the facilities were granted through two loan agreements signed on Monday, 18th February, 2019 in Cairo, Egypt. […]
Heineken N.V’s local unit in Nigeria, Nigerian Breweries said its net profit for the full year 2018 fell by 41.18%. The result showed further deterioration of the company’s fortune. Gross revenue for the period fell by N20 billion on a year on year basis. The company reported that its excise […]
Coca-Cola HBC AG, the bottler of The Coca-Cola Company in Nigeria said its business in Africa’s largest economy continued to decline for the full year 2018. Operating via its wholly-owned subsidiary, Nigerian Bottling Company, NBC, with brands such Coke, Fanta and Sprite, the company said Nigerian volumes declined for the […]
KKR said it has acquired substantial minority shareholding in the founder-led business, with Per-Olof Söderberg Gustaf Rentzhog and other key founding members remaining as long-term shareholders. The transaction is subject to ordinary conditions precedent including regulatory approval, and is expected to be completed during the second quarter of 2019. Söderberg […]
Atlas Mara said it has acquired 35% stake in GroCapital, partly-owned lending and treasury investment company of Fairfax Africa. The sub-Saharan financial services group said in a statement that the transaction will be subject to finalizing definitive agreements, as well as the approval of the South African Reserve Bank, the […]