The Coca Cola company's market value rose by about one percent, following the full acquisition of Nigerian beverage marker, Chi Limited, on Wednesday.This rise in share price pushed Coca Cola's market value to $204 billion on the New York Stock Exchange as sentiments remained positive after one of the company's biggest acquisition since Costa Coffee.Its value has continued to grow [...]
The US African Development Foundation (USADF) and All On say applications are now open for the 2019 Nigeria Off-Grid Challenge.According to a statement released by the organisers, the application window will open on February 1 and close on March 15, 2019.USADF and All On have committed to provide funding to 100% African MSMEs that improve energy access through off-grid energy [...]
PZ Cussons is not leaving Nigeria, as widely reported in the country -- it is, however, limiting its business exposure in Nigeria, as a result of harsh business conditions in Africa's largest economy.TheCable reviewed PZ's position as listed on the London Stock Exchange, and the impact of its Nigerian business on its corporate balance sheet across Europe, Asia, and Africa.We found [...]
Jim Yong Kim, outgoing president of the World Bank, says developing countries across the world have been relying on resources from donors for investments in human capital.In a note published on his Linkedin page on Tuesday, Kim said heads of state and finance ministers of developing countries have not invested enough of their own resources in their citizens."At the Annual [...]
The Cola-Cola Company has completed the acquisition of Chi Limited.In a statement on Wednesday, Coca-Cola announced that it has extended its minority investment in the company to full ownership.In 2016, the company acquired a 40% minority stake in Chi and expressed interest in increasing ownership within three years."Coca-Cola is continuing to evolve as a total beverage company, and Chi’s diverse [...]
MTN Nigeria has dragged the Kogi state government to court over the lockdown of its base station in Lokoja, the state capital, since January 23.Tobechukwu Okigbo, MTN’s corporate relations executive, on Tuesday, announced that the telco is suing the state government N5 million for damages.The state government had shut down the station, leading to a disruption in services, over the alleged failure [...]
Joké Coker, the lead coach of Constellation Coaching Group LLC, has been admitted into The Forbes Coaches Council.Coker was announced a member of the invitation-only community for leading business and career coaches on January 11, 2019.The criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honours."We are honoured [...]
A new report by Guaranty Trust Bank says the decision of the Central Bank of Nigeria to license telecommunications companies for payment services is a threat to banks operating in the country.In its report, Nigeria Macro-Economic and Banking Sector Themes for 2019, the banks said the payment service banks (PSBs) will compete with commercial banks for earnings."A more compelling threat, [...]
With the latest data from the advisory power team in the office of Vice-President Yemi Osinbajo revealing that the power sector lost a total of N530 billion in 2018, the industry is set to experience tougher times in 2019.Operational constraints from the shortage of gas, poor transmission, weak distribution network, and water reserves factor have become permanent issues to reckon [...]
Aliko Dangote, president of Dangote Group, says his investment in the sugar sector will create 150,000 jobs and place Nigeria on the global map of sugar producers.Dangote said this on Monday in Lagos during the 2018 Dangote Customers Celebration and Food Distributors’ Award Night, organized by Dangote Foods.NAN reports that Dangote Foods comprises of Dangote Flour Mills, Dangote Sugar Refinery [...]
