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Company in Africa

  • Kenya: Nakumatt Files for Voluntary Administration, PKF Consultant to Take Over Management

    KENYA, 2017/11/01 Troubled retailer Nakumatt has applied for an government order under the insolvency act. In papers filed at the High Court, the directors of the Supermarket chain have proposed Peter Kahi of PKF Consulting Limited to be appointed as the administrator with a view of turning around the supermarket. "Kahi is an experienced business turnaround professional and if the application is granted, Mr. Kahi will act as an independent administrator and perform his functions in the interests of Nakumatt's creditors as a whole," the directors say.
  • Ali Mufuruki, Chairman, CEO Roundtable

    TANZANIA, 2017/09/06 On inclusiveness in the private sector What role is the private sector playing in 2017, and how do you see this developing? ALI MUFURUKI: The central prerogative of the private sector is to have the government be additional open to engagement and dialogue – to appreciate the fact that this is a partnership, while considerate that due to the history of our country, such a relationship is complicated. Before there was not a lot of faith in the private sector, but instantly there is a critical need for cooperation to plan for the next.
  • Did Oil Giant Shell Pay U.S.$31 Billion to Nigerian Govt?

    NIGERIA, 2017/08/18 Shell Petroleum Development Company remitted 29.8 billion dollars to the federation account and 1.2 billion dollars to Niger Delta Development Commission between 2002 and 2016, Igo Weli, General Manager, External Relations, made the disclosure on Monday. Mr. Weli spoke in Port Harcourt while reacting to the shut-down of SPDC flow station and gas plant in Belema community by angry youth. The youth accused the company of neglecting them and marginalising their community.
  • Africa: Expanded Engagement for Caterpillar - Boosting Sales & Alleviating Poverty

    BOTSWANA, 2017/07/16 A strong signal of growing business engagement with Africa by large U.S. corporations was the announcement last September by Caterpillar CEO Doug Oberhelman of plans to invest over $1 billion in Africa over the next five years. Caterpillar is not a new-comer, having begun doing business on the continent in 1926. At last month's U.S.-Africa Business Summit in Washington, DC, David Picard, Caterpillar's regional manager for Africa and the Middle East, described some of the steps that have been taken since last year's announcement. He as well talked about the challenges and opportunities he sees, inclunding Nigeria, where the company has operated since 1948. He was interviewed by AllAfrica's Noluthando Crockett-Ntonga and Ladi Olorunyomi from Premium Times in Nigeria. The interview has been edited for clarity and length.
  • Company Winner of Africities 2015 Award Present Solution to African Cities

    AFRICA, 2017/01/05 The company Safe Water, winner of Africities 2015 Award, pursues its projects to propose innovative solutions for African cities and villages. Indeed, in the pursuit of improvement and innovation, the company offers more advanced and mature solutions to supply safe drinking water and electricity in response to the needs of Africa’s populations. To reflect this important realization, the company will create with its partners a new platform for its projects called WECA (Water, Electricity, Connectivity Anywhere). An initiative which goes hand in hand with the current environmental requirements by using and clean energy (solar) to meet the needs of cities and villages in the continent.
  • Sonangol restructuring plan produces some results

    ANGOLA, 2016/12/04 Sonangol, Angola's national-owned oil company, says it has identified savings worth US$240m in the five months since it began implementing its restructuring plan. The firm, which since June has been led by Isabel dos Santos—the eldest daughter of Angola's long-serving president, José Eduardo dos Santos—says it has cut back on wasteful spending and is reviewing all critical processes in order to boost efficiency. Although international oil firms have welcomed the efficiency drive, there is significant disquiet part Angolans about Ms dos Santos's appointment. A petition questioning the legality of her nomination—on the basis that it violates public probity laws—has been lodged with the country's Supreme Court.
  • South Africa: We Are Struggling' Says Robertson Winery Worker As Strike Enters 13th Week

    SOUTH AFRICA, 2016/11/20 New company offer rejected as union demands R8,500 per month On Thursday, striking workers from Robertson Winery and surrounding farms marched to the company's office. The workers have rejected the R400 pay increase offered by Robertson Winery's management and are demanding a "living wage" of R8,500 per month. The strike of about 200 Robertson Winery workers is in its 13th week.
  • Israel's Meir Brand Appointed Google VP

    UNITED STATES, 2016/11/02 Director of Google Israel since 2005 wins a top job in the world firm, CEO Sundar Pichai announced in an email sent out to employees. Meir Brand, CEO of Google Israel since 2005, was promoted last week to the role of vice president of the giant multinational technology firm.
  • Facebook CEO in Kenya to meet tech people and learn about mobile money

    KENYA, 2016/10/30 Chief Executive Officer of Facebook, Mark Zuckerberg, is in Kenya on the second leg of his historic visit to Africa. He started his ‘African mission’ in Nigeria on August 30. In Kenya, Zuckerberg said he was looking forward to learn about mobile money, ‘‘where Kenya is the world leader,’‘ his post on Facebook read. As he did in Nigeria, he will meet with entrepreneurs and developers in the east African country. ‘‘I’m starting at a place called iHub, where entrepreneurs can build and prototype their ideas,’‘ he stated.
  • Why we sacked 36 expatriates, 12 Nigerians – Dangote

    NIGERIA, 2016/10/29 The Dangote group of companies has denied media reports that a recent decision to retrench 48 of its staff was related to recession in Nigeria. 36 expatriate workers and 12 locals were affected by the action. According to Tony Chiejina, the Chief of Corporate Affairs of the group, the expatriates were disengaged because of job overlap. The dozen Nigerians he added worked in the company’s procurement department whose services were redundant as the company continues to grow.