Category: Business

……….The World’s Largest at TEF Forum 2018 Africa’s leading entrepreneurship focused philanthropy, The Tony Elumelu Foundation, is launching the world’s largest digital platform for African entrepreneurs and the African entrepreneurship ecosystem –  TEFConnect. TEFConnect will officially be unveiled at this year’s TEF Forum, taking place on October 25, 2018, at Federal Palace Hotel, Lagos, Nigeria. Harnessing and building on the success of Africa’s largest entrepreneurship catalyst, the Tony Elumelu Foundation Entrepreneurship Programme, which has attracted over 300,000 African entrepreneurs as applicants and trained and funded 4,460 to date, the Foundation is…

……………West Africa French Telecoms company, Orange and leading West African Connectivity and Data Centre services provider, MainOne have entered a partnership that will see the French telecoms giant co-invest in two new cable landing stations in Dakar, Senegal and Abidjan, Cote D’Ivoire while the broadband infrastructure provider will provide additional capacity via its 7000km cable system from Europe to Africa with landing stations in Nigeria, Ghana and Portugal, reinforcing the position of both companies in the African telecommunications ecosystem. This new cable connection, several countries in West Africa will benefit from better…

Royal Dutch Shell announced on Monday plans to limit emissions of methane, a potent greenhouse gas, across its oil and gas operations. Shell aims to maintain methane emissions intensity below 0.2 per cent by 2025, it said in a statement, joining British rival BP, which last year set a similar goal. Methane is released into the atmosphere mostly through leaks in gas infrastructure such as pumps and pipelines. The gas has a bigger impact than carbon dioxide, even though the oil and gas industry produces less methane and the gas…

The Central Bank of Nigeria (CBN) on Monday gave indications that more strategies aimed at uplifting rural farmers from poverty would be designed as part of its corporate social responsibility to the society. CBN’s Development Finance Officer, (DFO) Ado Ekiti office, Mr Sowunmi Sogunle disclosed at a 5-Day Training on Agricultural Value Chains Upgrade Services for National, Regional and Global Competitiveness, in Ado Ekiti. The training was organised by the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), an offshoot of CBN. According to Sogunle, the problems facing the…

— IMO,AU Partner AAMA As 4th Conference Commences In Egypt The chairman of the Association of African Maritime Administrations AAMA, Dr Dakuku Peterside has restated the place of continental collaboration to grow the African maritime industry. This was the thrust of his message at Sharm El Sheik, Egypt venue of the 4th conference of Association of African Maritime Administration, (AAMA) where participants from 38 countries from Africa will be joined by maritime stakeholders from Singapore, Jamaica, Malaysia and the United Kingdom amongst others to deliberate on how to grow the maritime industry…

The Bank of Industry (BOI), Nigeria’s leading Development Finance Institution (DFI), and the Export-Import Bank of China (CEXIM) have signed a Memorandum of Understanding (MoU) on a $500 million financing support. Speaking on the development on Sunday, the bank’s Managing Director/Chief Executive Officer, Mr. Olukayode Pitan, said the partnership has an enormous job-creation potential. “This is a partnership that will provide a credit line of up to $500 million towards the establishment of modular refineries and flare gas recovery programmes in the country,’’ he said. Pitan who signed the MoU…

Embattled telecommunication company, MTN has asked the Federal High Court to restrain the Central Bank of Nigeria (CBN) and the Attorney-General of the Federation (AGF) from enforcing their orders that the firm should refund $8.1bn and $2bn to the Federal Government. The CBN had claimed that the company of illegally repatriated $8.8bn through improper Certificates of Capital Importation (CCI). Also, the AGF is seeking the payment of $2bn in unpaid taxes over a 10-year period. Already, four local lenders, found wanting in the transactions have been fined. The fines have since…

A Nigerian plastic-recycling company has won the maiden Shell Outstanding Achievement Prize in the 2018 Shell LiveWIRE Top Ten Innovators Awards. Bayelsa State-based De-Rabacon Plastics came tops in a competition that also saw another Nigerian firm, Alternate Energy Limited, emerge as the second runner-up in the Energy Solutions category to win a $10,000 prize money. The two Nigerian companies are among the Top Ten Innovators named last week from among 21 entries in a contest which attracted over 11,000 voters from 102 countries. “This is part of the streak of…

The newly launched All Purpose Flour by the Dangote Flour Mills has tremendously excited distributors and bakers, as they call it “finest and best performing flour.” Bakers expressed their excitement on the affordability and multipurpose brand during the launch on Thursday in Kano. The affordable price, they say, will enable them to make more profit in their businesses. About 80 bakers where invited to a bakery where the One-Stop product was tested to ascertain its yield and value addition over other brands in the market. Chairman of Association of Master…