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Tuesday, 17th July 2018
1:54:08am

Business

Articles related to business

China willing to invest $3 bln in Nigerian oil operations -NNPC

China National Offshore Oil Corp (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

During a visit to Nigeria’s state-owned NNPC, CNOOC Chief Executive Yuan Guangyu said the Beijing-based oil…

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S.Africa's Sasol senior employees want to strike over black employees' scheme: union

South Africa’s trade union Solidarity has been given a mandate by senior members to strike at energy giant Sasol over its plan to launch a share ownership scheme exclusively to black staff, a union source said on Tuesday.

South African government mediators last month cleared the Solidarity union, which represents predominately white workers, to…

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McKinsey's new boss apologises to S.Africans over corruption scandal

McKinsey’s new global head will on Monday apologise to South Africans for work the firm did with friends of scandal-plagued former president Jacob Zuma, an ill-fated deal that tarnished the reputation of the world’s biggest consultancy. 

McKinsey has lost most of its clients in South Africa since it emerged last year it had partnered with local…

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Africa's Ecobank plans dollar bond after investor meetings

Ecobank has mandated international lenders to arrange investor meetings in Britain and the United States, after which it plans to issue a five-year dollar-denominated bond, the African bank said on Monday. 

Ecobank, which has operation in 36 African countries, has hired Deutsche Bank, Standard Bank and Standard Chartered to arrange meetings from…

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MTN Nigeria yet to file IPO application, securities regulator says

MTN Nigeria is yet to file its application for an initial public offering (IPO), Nigeria’s securities regulator said on Sunday, a much-anticipated share listing that could value the business at around $5 billion and help revitalise the local stock market. 

The Securities and Exchange Commission’s (SEC’s) statement came after domestic media…

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Volkswagen opens Rwanda's first car plant

Volkswagen will launch a car assembly facility in Rwanda on Wednesday, the first such factory in the East African nation as Europe’s biggest carmaker expands its presence in the region.

Car ownership remains low in the nation of 12 million people with just over 200,000 private cars registered since 1997, according to the country’s tax collection…

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