Category Archives: Business News

The African Development Bank launches EUR 1 Billion 0.50% 10-Year Global Benchmark Due 21 March

The African Development Bank (www.AfDB.org), rated Aaa/AAA/AAA by Moody’s/S&P/Fitch, has successfully priced a EUR 1 billion 10-year Global Benchmark, due 21 March 2029, its first benchmark transaction of the year.

Court Rules Bharti Airtel Purchase Of Airtel Nigeria Shares From Ecobank Was In Disobedience Of Court Order

The Federal High Court in Lagos has ruled that Bharti Airtel’s purchase of Airtel Nigeria shares from Ecobank in 2018 was contemptuous and amounted to a flagrant disobedience of a court order.

UBA Earnings Hits N494bn, Records Significant Asset Growth, Driven By Market Share Gains Across Africa … Records Profit Of N106.8 Billion

The Pan-African financial institution, United Bank for Africa Plc has announced its Audited 2018 Financial Results with impressive growths achieved across major financial lines.
According to the 2018 financials filed at the Nigerian Stock Exchange on Tuesday, the Africa’s global bank’s gross earnings grew by 7.0 per cent to N494.0 billion, compared to N461.6 billion recorded in the corresponding period of 2017. The Bank’s total assets also grew significantly by 19.7 per cent to an unprecedented N4.9 trillion for the year under review.

Transcorp Sets Record Performance with Profit After Tax of N20.6bn

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate, has announced its audited results for the year ended 31st December 2018, with a 94% growth in Profit After Tax (PAT) of ₦20.6bn in 2018 compared to ₦10.6bn in the prior year.

How Leo Won A Million Hearts In 12 months…More Than 1million Africans Now Bank On Leo

With ever-increasing customer expectations of quick service and near real-time transactional support, United Bank for Africa (UBA) committed resources to Artificial Intelligence (AI) a year ago, birthing Leo, a Banking Chatbot that helps customers carry out key banking transactions anywhere, using mobile devices and personal computers.

NIMASA Undertakes Surveillance Training For Security Agencies

In its effort to rid the Nigerian maritime domain of criminalities, the Federal Government through the Nigerian Maritime Administration and Safety Agency (NIMASA) has undertaken surveillance training for officers from the Nigerian Army, Nigerian Navy, Nigerian Air Force, Nigeria Police, the Department of State Services (DSS), and NIMASA, on the C4I Integrated Surveillance Systems operation. The system will aid the coordinated view of the entire Nigerian maritime domain.

TONY ELUMELU FOUNDATION SUPPORTS SÈMÈ CITY – BENIN’S INTERNATIONAL KNOWLEDGE AND INNOVATION HUB – IN EMPOWERING 50 BENINESE ENTREPRENEURS

Sèmè City, the International Knowledge and Innovation City, has partnered with the Tony Elumelu Foundation (TEF), the leading philanthropic organization empowering African entrepreneurs to train and empower additional 50 Beninese entrepreneurs.

UBA, Japan Trade Office Collaborate To Promote MSMEs in Africa

United Bank for Africa (UBA) Plc has indicated its readiness to support the Japanese government in its drive to promote Small and Medium Scale Enterprises across Africa.
The Chairman, UBA Group, Tony Elumelu, indicated this on Monday, when the members of the Japan External Trade Organisation (JETRO), led by its CEO, Hiroyuki Ishige, were hosted at a cocktail at the UBA House, in Lagos, Nigeria.

Maritime Forecast 2019/20: WHAT SHIPPING INDUSTRY SHOULD EXPECT – NIMASA · CVFF Disbursement, Better Funding for Indigenous Operators · Hope for Anti-Piracy Bill To Reduce Incidents

As part of efforts to guide investors and encourage more participation in the maritime industry, the Nigerian Maritime Administration and Safety Agency (NIMASA) have set the tone with the unveiling of the 2019-2020 maritime forecast.

Maritime: NIgeria Ratifies 40 Conventions,Domesticates 19 International Laws

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dakuku Peterside, has disclosed that Nigeria has been able to ratify 40 conventions passed by the International Maritime Organisation (IMO) and International Labour Organisation (ILO) covering Maritime Safety, Labour and Marine Environment.