The Abraaj Group is one of the largest and most active private equity investors in Africa having invested US$2.2 billion in sixty-nine partner companies Accra, Ghana, 19 June 2013: The Abraaj Group, a leading investor operating in growth markets, today announced its agreement to acquire a 100% stake in Fan Milk International ("FMI"), West Africa's market leading manufacturer and distributor of frozen dairy products and juices.
Headline News
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The Central Bank of Nigeria (CBN) has extended the deadline by eight months to all banks and other financial institutions on the Know Your Customer (KYC) requirement after the expiration of April 30... |
The Federal Government has designated 13 airports as perishable cargo airports as part of plans to transform the aviation sector into a major revenue earner for the country.
Yakubu Dati,... |
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Actis, a private equity company, will lead investment of as much as $1.5 billion in African commercial property to meet rising demand from international companies targeting a growing middle class,... |
Pirates in speedboats attacked an oil supply vessel and kidnapped four Indian and Polish crew members in increasingly dangerous waters off Nigeria's coast last week, two security sources said on... |
Markets
Analysis
Periodically, a former or current Supreme Court Justice will publicly proclaim that our judicial system is in need of urgent reforms—and they suggest how. But nothing happens after that. They will even go as far as publicly admitting that the judiciary is corroded by corruption. But it is all words. Nothing happens. No effort is made to...
Multimedia
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If something is really good online, chances are it will find its way offline soon enough and that’s what the tam at iRokoTV is looking to do with its latest offering, ventureburn reports... |
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Christians in many churches across the world last Sunday marked their 2013 Fathers Day, reminding ‘fathers’ that they owe a lot of responsibilities to their families.
In one of the Churches I attended was a lot fanfare and glamour, as...
Most people wouldn’t complain if they suddenly became rich. In fact, millions of people play the lottery every week with just this hope — even though, statistically, their chances of winning are next to nothing.
Obviously, very few of...
Daimler AG, the maker of premium Mercedes-Benz luxury vehicles said it has already received 12,000 orders for its new generation S-Class luxury sedan in the last five weeks. The German automaker counts on its new flagship model which is the best-...
In recent times, prohibitively high interest rates offered by local banks have made it difficult for haulage and construction companies to purchase new premium heavy trucks, many times forcing them to settle for older used models not suitable for...
BMW managed to take back from Audi the monthly sales crown thanks to its small X1 SUV and the new 3-Series sedan. In May, BMW sold 139,161 vehicles globally, up 7.8%, while Audi’s sales increased 6.4% to 137,200 units.
The index showed that...
The Kia brand is no doubt on fast lane in regional markets of the globe where it is sold. And since the pitching of tenth by Peter Schreyer of the erstwhile Audi, almost all the models in the Korean product line has undergone many metamorphosis and...
Global auto sales increased 8% year-on-year in April, compared with the sluggish first quarter. A report published by the Scotiabank Global Auto Report said that although the increase was broad-based, the improvement was led by a rise of 30% in...
Chinese billionaire Wei Jianjun and his team have set an optimistic target for Great Wall Motor Co.’s Haval marque to surpass Chrysler Group’s Jeep and become the world’s best-selling Sport Utility Vehicle (SUV) brand in the next...
Nigeria, with approximately 15 percent of Africa’s population, holds the key to unlocking Africa’s growth potential, according to Jim O’Neill, chairman, Goldman Sachs Asset Management.
If Africa could behave more together...
Most people wouldn’t complain if they suddenly became rich. In fact, millions of people play the lottery every week with just this hope — even though, statistically, their chances of winning are next to nothing.
Obviously, very few of...
Lekoil has agreed to buy a 6.5 percent stake in an oil field off the coast of Nigeria for $30 million amid signs of growing investor appetite for its plan to back Nigerian assets, the company said on Tuesday.
Lekoil, which has a $100 million market...
There are indications that improvements in fixed and wireless broadband services in Nigeria will boost the demand for Personal Computers (PCs) over the next few years - opening up a new vista of opportunity for local equipment manufacturers,...
Eternit Limited, one of Nigeria’s foremost roofing and ceiling materials manufacturer, is insisting that its products, which also include concrete roofing tiles, are without asbestos content as insinuated in some quarters.
Eternit, which...
Eternit Limited, one of Nigeria’s foremost roofing and ceiling materials manufacturer, is insisting that its products, which also include concrete roofing tiles, are without asbestos content as insinuated in some quarters.
Eternit, which...
The Nigerian property market was excited recently when a new block moulding technology was introduced into the country by Growth and Employment in States (GEMS2) with production demonstrations at various locations in Abuja and Lagos.
The...
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