Global

Sanlam underperforms, full year profit fell by 6%
Global

Sanlam underperforms, full year profit fell by 6%

South Africa’s largest life insurance group, Sanlam has just posted 6% year on year fall in its profit for 2016. Sanlam has a stake in Nigeria’s FBN Insurance, a subsidiary of FBN Holdings, West Africa’s largest financial services company. The company said currency moves and a weak equity market weakened […]

Old Mutual to cut itself into four units
Global

Old Mutual to cut itself into four units

One of the largest financial services group in Africa, Old Mutual PLC said its full year profit for 2016 was up by 1%. The company’s earning is above analysts forecast. Adjusted operating profit for the year was GBP1.67 billion. Old Mutual is about to carry out a total restructuring that […]

Western Selection cuts its stake in Swallowfield PLC
Global

Western Selection cuts its stake in Swallowfield PLC

Western Selection PLC said it has sold 130,000 shares in beauty products developer Swallowfield PLC at 320 pence each on Tuesday. In an email statement released shortly, the company said As a result of this, Western Selection now holds 1.5 million shares representing 8.9% of Swallowfield’s share capital. As a […]

Pioneer Food Group acquires 49.89% Weetabix East Africa
Global

Pioneer Food Group acquires 49.89% Weetabix East Africa

Pioneer Food Group Limited has informed it shareholders that it has gotten approval for the acquisition of 49.89% stake in Weetabix East Africa Limited. In an email statement, Pioneer Food Group Limited said the Company is pleased to announce that the transaction was unconditionally approved by the Competition Authority of […]