Monday, May 17African Business News
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Tag: growth

Retail Players Advised to Chart New Growth Channels

Retail Players Advised to Chart New Growth Channels

Business
Nigerian retail operators have been advised to reposition their business to harness growth opportunities in the sector. Chief Executive Officer of FoodCo Nigeria Limited, Ade Sun-Basorun, gave the advice amid the falling oil price and coronavirus pandemic that are presently threatening the global economy. According to him, while the International Monetary Fund (IMF), has downgraded the country’s growth projections, the retail sector appeared to be a shield for the national economy, hence, all hands must be on deck. He said: “The present precarious economic climate emphasises the need for all stakeholders to collaborate in actualising government’s efforts at diversifying the economy. For instance, the retail market segment is currently the third highest contributor to Gross Domest...
‘Efficient air cargo supplies central to coronavirus fight, control’

‘Efficient air cargo supplies central to coronavirus fight, control’

Growth & Insight
The International Air Transport Association (IATA) and its members yesterday renewed their call on governments to take urgent measures to ensure that vital air cargo supply lines remain open, efficient and effective.  Though the Federal Government has exempted medical supplies and other cargoes from the closure of all international airports in Nigeria, IATA said more needed to be done, especially in the area of support for efficient freight services. IATA’s Director General and Chief Executive Officer (CEO), Alexandre de Juniac, said air cargo is a vital partner in the global fight against covid-19, but “we are still seeing examples of cargo flights filled with life-saving medical supplies and equipment grounded due to cumbersome and bureaucratic processes to secure slots a...