Business81 Videos

Osinbajo extends 50 per cent registration fee for businesses

Vice President Yemi Osinbajo has directed the Corporate Affairs Commission (CAC) to further extend the registration of business names at N5, 000 by 90 days from May 13 (today) to August 13, 2019. This is to give Micro, Small and Medium Scale Enterprises (MSMEs) that could not register their businesses in the first and second […]

Finally, SEC receives MTN application to list shares on nation’s bourse

South African telecommunications firm, MTN, yesterday moved closer to the planned listing of its shares on the Nigerian Stock Exchange (NSE), by formally submitting an application to that effect with the Securities and Exchange Commission (SEC). Confirming the submission of application, SEC said it has received an application from MTN requesting for registration of their […]

Total enters $8.8 bln deal with Occidental for Anadarko’s Africa assets

French energy major Total said on Sunday it had reached a binding agreement with Occidental to acquire Anadarko assets in Algeria, Ghana, Mozambique and South Africa for a consideration of $8.8 billion. The firm said the transaction was contingent upon Occidental entering into and completing its proposed acquisition of Anadarko and approval of relevant authorities. […]

Huawei jumps ahead of Apple in tough smartphone market

China-based Huawei outsold Apple’s iPhones in the first quarter of this year, seizing the California company’s second place spot in a tightening smartphone market dominated by Samsung, a tracker said Tuesday. A total of 310.8 million smartphones were shipped globally during the first three months of this year in a 6.6 percent decline from the […]

Oil minister, Saudi Aramco discuss investment options

Nigerian Oil Minister Emmanuel Kachikwu and the president of Saudi Aramco have discussed investment options in the mid and downstream sector, Nigeria’s petroleum ministry said on Wednesday in a tweet. Aramco is expanding downstream operations such as refining and petrochemicals production as part of its drive to become the world’s largest integrated energy firm. Nigeria […]

South African rand falls as U.S. data bolsters dollar

South Africa’s rand slipped to a three-week low in early trade on Wednesday as robust U.S. economic data supported the dollar. At 0640 GMT, the rand traded at 14.3725 per dollar, 0.82 percent weaker than its New York close on Tuesday. The currency was trading at its weakest levels since April 1. The market’s appetite […]

NCC declares 63.2 per cent SIM registrations invalid

Telephone subscribers are once again thrown into pandemonium, as the Nigerian Communications Commission (NCC), yesterday, declared about 63.2 per cent of the Subscriber Identification Modules (SIM) cards data information processed by the Mobile Network Operators (MNOs) in the country as invalid. Invalid, in the sense that data collected are beset with some irregularities such as […]

Tanzania eyes 10,000 MW power generation capacity by 2025

Tanzania aims to have six times its current power generation capacity by 2025 through investment in thermal and renewable energy, deputy energy minister Subira Mgalu told parliament on Tuesday. The East African country boasts reserves of over 57 trillion cubic feet (tcf) of natural gas, but faces periodic power shortages. Investors have long complained that […]