Despite the latest directive for MTN to return $8.1 billion back to Nigeria, MTN Nigeria has been entangled in yet another regulatory confrontation. NIgeria has now ordered MTN’s local unit in the company to pay $2 billion as unpaid tax arrears. MTN said in a short statement that its Nigeria’s […]
Mobile Telephone Networks Holdings Limited, MTN said it will not comply with the Central Bank of Nigeria’s directive to return $8.1 billion to Nigeria. MTN said in a statement earlier today that: Central Bank of Nigeria (CBN) Correspondence regarding Certificates of Capital Importation (CCI’s) in Nigeria and cautionary announcement MTN […]
Nigeria’s Central Bank said it has placed various fines and sanctions on four banks for illegally repatriation funds to South Africa on behalf of MTN Nigeria, the home country of MTN Group Limited. MTN Nigeria is a wholly-owned subsidiary of South Africa’s MTN Group which has been mulling a public […]
Africa’s largest modern retailer, Shoprite Group said its profit fell for the first time in 19 years. “This is a testimony to Shoprite’s commitment for almost 40 years to put customers first by keeping prices low,” CEO Pieter Engelbrecht said. “The Group is able to provide some relief to customers […]
South African fashion retailer Truworths International said it has appointed David Pfaff to a newly-created position of chief operating officer. Truworths said its aim is to increase sales in the United Kingdom where sales have declined due to shrinking consumer spending. David Pfaff is currently the chief financial officer, the […]
The chairman of South Africa’s state-owned logistics utility company, Transnet, Popo Molefe, said its board has served CEO Siyabonga Gama notice of suspension. He said in a statement to a local radio station that Siyabonga Gama alongside chief procurement officer Thamsanqa Jiyane and supply chain manager Lindiwe Mdletshe will be […]
South Africa’s Tiger Brands said it has appointed Ms Gail Klintworth as independent non- executive director of the Company with effect from today, 16 August 2018. The company said in a statement that Ms Klintworth obtained her BA degree, majoring in Industrial Psychology, from the University of Witwatersrand and holds […]
Kibo Energy PLC said it has acquired 60% equity interest in Mast Energy Developments. Mast Energy is a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market. Under the terms of the MOU, the Company can acquire a 60% […]
Steinhoff Africa Retail Limited, STAR, said it has received shareholder approval to change its name to Pepkor Holdings Limited. Steinhoff Africa said in a statement on the JSE website that its “shareholders are referred to the SENS announcements released by STAR on 15 June 2018 and 20 July 2018, advising […]
Curro Holdings said Miss Zandile Nangamso has been appointed as an independent non-executive director of the Company with effect from 10 August 2018. Nan is a CA (SA) and holds the following degrees, a B Com (Accounting), B Com (Honours) (Accounting) and an MBA from the Gordon Institute of Business […]