Business

Sequel to the takeover of Peugeot Automobile Nigeria (PAN) Limited, the new major investor in the company, Nesbitt Investment Nigeria Limited, recently announced its plans to provide liquid capital of $150 million over the next three years. According to Nesbitt, the fund is to "awaken this huge sleeping giant of immense economic potential." In his opening remarks on Monday 19...

Stripe, a US-based payments giant, is venturing its business into Africa by obtaining Lagos-based payments firm Paystack in an arrangement supposedly worth more than $200 million. Established in 2015 by Shola Akinlade and Ezra Olubi, Paystack tackled online payments in Nigeria. Via seamlessly interfacing all multi-channel payment alternatives with traders nationwide, it empowered them to acknowledge payments from around the globe...

Through the Standard Chartered Foundation, the Standard Chartered Bank in Uganda has unveiled a Shs 750 million cash program to support and encourage 600 youths in agribusiness as part of the 'Futuremakers By Standard Chartered' Initiative. The programme was unveiled at the Kampala Serena hotel by the Minister of Agriculture, Animal, Industry and Fisheries, Vincent Ssempijja, and it is expected...

It is nearly impossible for businesses in some African countries to receive money from PayPal. While the payments giant has not given reasons why this is so, speculation hints at factors like insufficient regulation and poor banking security in said countries. That might be a thing of the past for some businesses as African payments company Flutterwave announced a collaboration...

General Electric (GE) has announced the appointment of Nyimpini Mabunda as the Chief Executive Officer for Southern Africa. In this role, Nyimpini will lead GE's growth in the region and drive alignment across its Power, Healthcare, Aviation and Renewable Energy businesses. He will also drive GE's BBBEE roadmap and processes in South Africa. With a career spanning 23 years, Nyimpini...

…plans Roll-Out in Nigeria, Egypt, Tunisia, and Kenya The creation of the mobile business happened the second that prepaid calling was executed. Users with no secure income except for generally limited amounts of money could become clients when they had money. This week Mondia, a leading independent digital entertainment enabler, has launched a content platform that may turn into the...

Warren Buffett gave Berkshire Hathaway Inc. shares valued at about $2.9 billion to charities including the Bill & Melinda Gates Foundation as part of his annual plan started more than a decade ago. The nearly 16 million Berkshire Class B shares were donated to a total of five philanthropies, including ones run by his children, according to a statement Wednesday. Buffett has given more...

EgyptAir said it will restart flights to Doha starting Monday; only a few days after Egypt officially lifted a three-and-half-year airspace ban on the Gulf country. In an official statement on Thursday, EgyptAir said it would operate a daily flight between Cairo and Doha starting 18 January. The flight scheduled to take off from Cairo at 9 am and the...

The leading pan-African banking group, Ecobank, (www.Ecobank.com) has won the coveted prize of Africa's Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020. Euromoney recognises Ecobank's focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa. Carl Manlan, Chief Operating Officer of the Ecobank Foundation, said: "At Ecobank we...

A few days after my last column on Africa, COVID-19 and the disruptive concept of work, I saw a screaming headline from a Time Magazine news article on the 7th of May, 2020: “South Africa Parliament Video Call Hacked With Explicit Images“. The South African Parliament, like most parliaments in the world, switched to virtual meetings, in respect for the...