The Nigerian National Petroleum Corporation (NNPC), said Milan Based Maire Tecnimont S.p.A has started the rehabilitation of its of 210,000bpd refinery in Port Harcourt. The refinery which is located in the Niger Delta region is one of the four moribund refineries of the government-owned petroleum refineries. The NNPC said in […]
According to report from the Associated Press, AP, EU regulators has fine Google $1.68 billion for abusing its dominance in online advertising. This is not the first time the EU competition regulators will be fining Google. Over the years, Google has been fined over $4 billion mostly for favouring its […]
South Africa’s struggling power utility company has raised about $780 million. According to Bloomberg, the loan was raised from BRICS Bank, a financial institution created by BRICS (Brazil, Russia, India, China and South Africa itself) countries. South Africa’s Eskom has been facing serious funding problems to upgrade its power infrastructure, […]
Germany’s Rocket Internet has confirmed that its African-based eCommerce startup, Jumia has filed for an initial public offering on the New York Stock Exchange, NYSE. It would be recalled that PageOne.ng had reported last year that Jumia’s majority owner, Rocket Internet was looking at divesting and or reducing its stakes […]
Coca‑Cola HBC AG said is hhas acquired Bambi. Bambi is Serbia’s leading confectionery. The group said it acquired Bambi from funds advised by Mid Europa Partners, a leading buyout investor in Central and Eastern Europe, for an enterprise value of €260 million, subject to certain closing adjustments. Completion of the […]
South Africa’s Shoprite Holdings said it is preparing to report its worst earnings in 20 years. Last Wednesday, Africa’s largest retailer warned of a steep drop in half-year headline earnings citing foreign exchange setbacks and other factors. Shoprite in a trading statement released after the market close on Tuesday said […]
The Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from the DIFC, has successfully enforced payment of a fine imposed on an individual. The DFSA said the enforcement action demonstrates its commitment to take the necessary steps to enforce the regulatory actions it imposes. […]
Nigeria’s Andela, software development and outsourcing company has just raised an additional $100 million in fresh funding. The latest round is was raised from U.S. Vice President Al Gore’s sustainability-focused investment firm, Generation Investment Management. The latest funding round will mean Andela has raised about $180 million. Generation’s interest in […]
Royal Dutch Shell said it has appointed Wael Sawan as Upstream Director with effect from 1st July 2019. Wael is a Canadian citizen of Lebanese origin and currently Executive Vice President Deepwater. He joined Shell in 1997 and has held a variety of commercial and operational leadership roles across the […]