Corporate Stories Archives - Inside Business Africa

Sep212022 by info@insidebusinessafricang.comNo Comments

Green Energy Africa Summit announces Energy Investment Village Finalists

Corporate Stories, Technology & Innovation

The finalists were chosen from a field of entrepreneurs and start-ups and will have the chance to present to potential investors at a pitching event in October during the GEAS The Green Energy Africa Summit (GEAS) has announced the finalists of the Energy Investment Village, a selection of the most compelling local clean-tech projects, who will have the chance to pitch to energy leaders holding potential investments worth more than $100 billion. The Energy Investment Village is a partnership with the Saldanha Bay Innovation Campus (SBIC), an initiative of Freeport Saldanha, and advisory firm the Research Institute for Innovation and Sustainability (RIIS). The finalists were chosen from a field of entrepreneurs and start-ups and will have the chance to present to potential inv...

Sep212022 by info@insidebusinessafricang.comNo Comments

KPMG South Africa’s Ignatius Sehoole appointed as Chairman of KPMG’s Africa region

Business, Corporate Stories

Prof Wiseman Nkuhlu, Chairman of KPMG in South Africa, announced that Ignatius Sehoole, the South African firm’s CEO, has been appointed as the Chairman of KPMG’s Africa region with effect from 1 October 2022 as well as a member of the KPMG Global Board. Ignatius Sehoole KPMG’s Africa region represents 54 countries in the continent within the East, West, and Southern Africa areas as well as the Francophone countries. KPMG has 21 member firms with over 6 600 colleagues and partners in Africa. “In this role, Ignatius will implement a collective approach where clients will see KPMG’s Africa firms work together to represent the continent and have the ability to serve and create consistency in the way we do business,” says Prof Wiseman Nkuhlu. Ignatius, a qualified Chartered A...

Sep212022 by info@insidebusinessafricang.comNo Comments

NGX Group stays committed to highest level of corporate governance

Business, Capital Market, Corporate Stories

Nigerian Exchange Group Plc (NGX Group) said it remains committed to the highest level of corporate governance with the overriding interest of maximising value for its shareholders. NGX Group noted this in its September 20 response official to media reports following the release of the Company’s notice for its upcoming annual general meeting.In the response signed by Mojisola Adeola, company secretary, the NGX Group said: “While it is the Company’s practice to refrain from commenting on frivolous and malicious rumours, we believe it is in the interest of the investing public to correct the errors/misstatements in recent media reports following the release of the Company’s notice for its upcoming annual general meeting. Note that its Audited Financial Statements for the year ended 2021 wer...

Sep162022 by info@insidebusinessafricang.comNo Comments

NGX Group releases dividend policy

Business, Capital Market, Corporate Stories, Uncategorized

Nigerian Exchange Group (NGX Group) Plc has stated that it will continue to ensure that its shareholders received mouthwatering returns on their investments even as it released its dividend policy. The policy document which was approved by the board of directors of NGX Group Plc and published on the company’s website was formulated in accordance with the Laws of the Federal Republic of Nigeria, investment and tax legislations, Codes of Corporate Governance, as well as internationally recognized best practices and principles. Nigerian Exchange Group House “NGX Group, through its Dividend Policy, seeks to guarantee shareholder rights especially as it relates to return on investment. The policy is developed to address issues relating to the determination and payment of dividen...

Sep122022 by info@insidebusinessafricang.comNo Comments

Africa Data Centres joins forces with Nigeria’s top internet exchange point (IXPN)

Africa, Corporate Stories, Technology & Innovation

IXPN collaboration facilitates reliable, secure, connected colocation and cloud migrations for local customers Africa Data Centres (www.AfricaDataCentres.com), the largest network of interconnected, carrier- and cloud-neutral data centre facilities in Africa, and part of the Cassava Technologies group, has taken a significant step forward in its widescale expansion into Africa (https://bit.ly/3DlgNb4) by joining forces with Nigeria's principle internet exchange point: IXPN (http://www.IXP.net.ng/). Africa Data Centres joins forces with Nigeria's top internet exchange point (IXPN) "IXPN is unquestionably the leading internet exchange point in Nigeria and provides Africa Data Centres with the connectivity it needs to give customers market-leading service," says Dr Angus Hay – Afric...

Sep122022 by info@insidebusinessafricang.comNo Comments

Jeremy Awori, Appointed by the Board of Directors as Incoming Chief Executive Officer (CEO) of Ecobank Group.

Business, Corporate Stories

Ade Ayeyemi, Chief Executive Officer (CEO) of Ecobank Group, to Retire Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group (www.Ecobank.com), today announced that the current Group Chief Executive Officer, Ade Ayeyemi, will retire after he attains the age of 60, in accordance with ETI policy. The Board of Directors selected Jeremy Awori to succeed Ade Ayeyemi as Group Chief Executive Officer. The relevant effective dates will be communicated in due course. Mr. Jeremy Awori, Chief Executive Officer (CEO) Ecobank Group Alain Nkontchou, Ecobank Group Chairman, thanked Ade for his immense contribution during his seven years at the helm of the Ecobank Group as Group CEO. He added that, “Ade can be rightly proud of his success in leading the implementation...

Sep122022 by info@insidebusinessafricang.comNo Comments

Yellow Card Surpassed 1 Million Customers Across 16 African Countries in March, after only 3 Years

Corporate Stories

Pan-African cryptocurrency leader reaches a significant milestone, solidifying brand position, trust and investor confidence Yellow Card Financial ((https://YellowCard.io/)), the fastest growing cryptocurrency company on the continent, celebrates exceeding 1 million customers in only three years. The pioneering pan-African company reached 1 million customers in March and shows no signs of slowing down. Since launching in Nigeria in 2019, Yellow Card (https://YellowCard.io/) has dedicated its efforts to providing financial inclusion and freedom for all Africans. The company expanded into four new African territories in the last year alone, increasing its total country presence to 16. John Colson, Chief Marketing Officer at Yellow Card, says this achievement no doubt strengthe...

Sep122022 by info@insidebusinessafricang.comNo Comments

Accelerex Establishes N20bn ($48mm) Bond Programme; Successfully Issues First Tranche of N2.3bn ($5.5mm)

Business, Capital Market, Corporate Stories

The issuance attracted participation from a broad array of institutional investors, including local pension funds, insurance companies and asset managers Accelerex Holdings (www.GlobalAccelerex.com), Mauritius (the “Company”) today announced that its Nigerian subsidiary, Global Accelerex Limited, has registered a N20bn bond program, and successfully issued a 5-year senior unsecured bond of N2.3bn via a special purpose vehicle (Accelerex Funding SPV PLC). FBN Quest Limited, Renaissance Securities Limited, Greenwich Merchant Bank Limited and Nova Bank Limited acted as Arrangers. The Bond is rated BBB+ (Stable Outlook) by Global Credit Ratings (GCR) and Bbb+ (Stable Outlook) by Agusto & Co. and is listed on the FMDQ Exchange. The issuance attracted participation from a broad ar...

Apr12022 by info@insidebusinessafricang.comNo Comments

Shongai Packaging explores inter-African trade, exports plastic pallets to Ghana, Others

Business, Corporate Stories

Shongai Packaging Industry Limited a subsidiary of Sona Group of Industries, has begun its expansion into inter-African trade by exporting plastic pallets to Ghana and other African countries. This comes on the back of Shongai Packaging's commitment to reduce the environmental impact of packaging production on trees by producing plastic pallets for companies within and outside the country. Special Adviser to Ogun State Governor and Director General of Investment Promotion and facilitation Agency, Mr Olakunle Amoo lauded the innovation of the company at the export ceremony and urged other companies to emulate the export drive of Shongai Packaging Industry Limited. Speaking at the ceremony, Mr. Ajai Massadi, Group Managing Director of Sona Group of Industries stated that the i...

Mar32022 by info@insidebusinessafricang.comNo Comments

NEWS ENGINEERING NIGERIA LIMITED ENTERS AGREEMENT WITH RURAL ELECTRIFICATION AGENCY (REA)

Corporate Stories

NEWS Engineering Nigeria Limited has entered into a “Grant Agreement for Performance Base Grant and Output Based Grant for Mini Grid development and Solar Home Systems Components respectively with the Rural Electrification Agency (REA). This will enable NEWS Engineering Nigeria Limited to build, commission, own and operate the mini grids across various states in Nigeria including Sokoto, Abia and Niger States. Managing Director, News Engineering Nigeria Limited, Lady Josephine Nwaeze signing the document These projects are under the auspices of the Nigerian Electrification Project (NEP). Speaking at the Performance Based Grant and Output Based Grant Agreement Signing Event, the MD/CEO of REA, Engr. Ahmad Salihijo Ahmad addressed all in attendance that; “Our objective i...