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Company in Africa

  • MTN says no deal yet on $5.2bn fine, hours to deadline

    NIGERIA, 2015/11/16 Africa’s mobile phone giant, MTN Group denied on Sunday that it has asked the Nigerian authorities to be allowed to pay by instalments a $5.2 billion fine due on Monday. “MTN refutes claims that we have arrived at any agreement of staggered payment of the fine. We caution against data from any source outside the company,” MTN’s spokesman Chris Maroleng said. Before a source at the Nigerian Communications Commission (NCC) had said that MTN had asked to be allowed to stagger the payment.

  • Ethiopia's Next International Breakout Brand

    ETHIOPIA, 2015/11/03 What started as the quest of a caring and self-proclaimed, over-protective initial-time mother to find the perfect blanket for her child is presently making headlines as the next potential international breakout brand from Ethiopia. Amelsa Yazew, 34, had a bit of a fetish for baby blankets at the same time as she was pregnant with her initial child, Caleb. She said she bought excessive amounts of mass-produced baby blankets for her child. But it was not until her baby shower, where some one gave her a blanket made out of a Gabi - a traditional hand-woven cloak from Ethiopia, that her quest for a comfortable baby blanket had been finished.

  • Standard Bank Group has expanded its already extensive East African footprint

    ETHIOPIA, 2015/10/31 Standard Bank Group has expanded its by presently extensive East African footprint with the official opening of a representative office in Ethiopia. This means that Standard Bank, which is Africa’s major bank by assets, has a continent-wide footprint in 20 African nations. The representative office, which is based in Addis Ababa, was opened by Standard Bank Chief Executive, Ben Kruger. It will act as an entry point for clients seeking to invest in Ethiopia and will be administered by Standard Bank’s chief office in South Africa.

  • Philip Morris International the largest buyer of tobacco in Tanzania

    UNITED STATES, 2015/10/31 Philip Morris International (PMI) (pmi.com), the major buyer of tobacco in Tanzania, is ramping up efforts to implement its Sustainable Tobacco Production model part the country’s 65 000 contracted tobacco-growing families. PMI purchases tobacco from three suppliers in Tanzania, contributing additional than US$150-million annually to the economic development of the country’s rural areas.

  • Steve Burd, Acting Vice President of Sales for DHL SSA

    CHINA, 2015/10/31 The African continent is experiencing rapid retail expansion, and is being compared to China in 1987 at the same time as it was predicated to be the next large thing. A.T. Kearney’s 2015 World Retail Development Index has listed Sub-Saharan Africa as the ‘large story’ for 2040, similar to that of China 30 years ago, where today, retailers are expanding four to five times faster than retailers in the United States and Europe. Recognizing this potential, DHL (dpdhl.com) is playing a key role in growing retail on the continent via its current footprint of 5 800 retail outlets across Sub Saharan Africa (SSA), not by building its own bricks and mortar branches but by partnering with local business owners who act as DHL resellers. Steve Burd, Acting Vice President of Sales for DHL SSA, says, “Thousands of vendors – such as electronics stores, travel agents and stationery stores – presently offer DHL Express services, alongside their existing product offerings.

  • Afriland First Bank (AFB) has pledged its commitment to supporting the Liberian economy

    LIBERIA, 2015/10/18 Afriland Initial Bank (AFB) has pledged its commitment to supporting the Liberian economy through empowerment of actors in the agriculture sector. AFB Managing Director HamadouBayo said the bank has established branches in Monrovia and River Gee, Grand Kru, Barpolu, River Cess Counties and two banks each in Lofa and Nimba Counties which are intended to strengthen the agriculture sector financially. Director Bayo made the pledge Tuesday at the same time as the AFB signed a Partnership Agreement with the US Agency for International Improvment(USAID) to support the financial base of Micro, Small and Medium Enterprises in Liberia at a local hotel in Monrovia.

  • Anadarko Petroleum secures sales of natural gas to exploit in Mozambique

    MOZAMBIQUE, 2015/08/28 The Anadarko Petroleum oil group has obtained 90 % of the supply agreements needed to guarantee financing of its natural gas project in Mozambique, said the director of the subsidiary Anadarko Mozambique Area 1, Lda. John Peffer told Bloomberg financial agency that the group is presently waiting for Mozambican government consent to export the natural gas, a necessary condition so it can seek financing to build a plant to liquefy the extracted gas. “From presently on the timing for taking a final investment decision will be determined by the government’s pace agreeing the legal and contractual framework and approving necessary permits,” said Peffer, adding that the development plan should thus be submitted in upcoming months.

  • The comparison website Click n Compare is taking Africa by storm

    SOUTH AFRICA, 2015/08/21 CNC Group (CNC), parent company of Click n Compare (http://www.clickncompare.co.za), the South African-focused comparison website is expanding their African footprint next a very successful year with a strong month on month increase of 40%. Alongside the South African success of the brand comes presently their launch of a new consumer-facing brand, CompareGuru, into both Nigeria and Kenya. Established in 2013, Click n Compare is a one-stop portal for African consumers who are looking to source services and be educated in hard-to-navigate verticals, such as insurance, mobile, broadband, and banking. The Internet has empowered consumers to access additional data than ever before, but it has as well made it that much harder to zero in on exactly what one is next. CNCs ultimate goal is as a result to help people save time and money with the help of side-by-side comparisons.

  • Ethiopia: National Airline Offers Airfare Discount for Diaspora

    ETHIOPIA, 2015/08/06 The Ethiopian Airlines has offered 10 % air-ticket discount for Ethiopians and foreigners of Ethiopian origin who travel to the country to celebrate the initial Ethiopian Diaspora Day that will be marked August 12-16, 2015. The passengers can as well carry luggage which weighs additional than 30 kilogram, it was learned. Ticket could be purchased from the initial of July to the 15th, according to the statement of the airline.

  • Kenya Airways 'May Require $500 Million Bailout

    KENYA, 2015/08/05 Kenya Airways, the East African country's national carrier, ran into severe chief winds last week reporting a record loss. The finance minister presently says the airline may need a half a billion dollar bailout. Kenya Airways said its pre-tax loss had grown from 4.86 billion Kenyan shillings ($48 million) to 29.71 billion shillings ($293 million) in the ending in March 2015. Last week the airline announced it had chosen the African Export-Import Bank in Cairo to advise it on raising capital and arranging a $200 million bridging loan.
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