Africa Oil Corp Buys 25.2 Percent Equity Interest in Impact Oil and Gas Ltd. Canadian oil and gas company Africa Oil Corp (TSE: AOI) has completed the previously announced investment in Impact Oil and Gas Limited, a private UK company with exploration assets in South and West Africa. Impact Oil and Gas Limited operates as…
Women in Ghana own 46 percent of businesses – Mastercard Index of Women Entrepreneurs Following the release of the Mastercard Index of Women’s Entrepreneurship (MIWE), it has been revealed that 46.4 percent of businesses in Ghana are owned by women, making it one of the top performing African countries highlighted in the index. The MIWE…
MTN Returns to Profitability Ahead of Ghana and Nigeria Listing JSE-listed MTN on Thursday posted a turnaround in its earnings for the year ended December 31, with a full-year return to profitability after plunging into the red last year for the first time in its two-decade history. Reported headline earnings per share (HEPS) for the…
“We are reaching a point where Africa will start to export to the rest of the world and not vice versa as has happened in the past. The youth want Africa to succeed and are supporting African products and music – one need only look at the popularity of African fashion and musicians such as…
African countries have adopted further initiatives to implement a single market for the continent, an attempt to stimulate economic growth with open skies to replicate Europe. After years of marathon negotiations African Union (AU) officials expect dozens of the continent’s countries to launch the African single air transport market by the end of this month. Of…
Fast Moving Consumer Goods (FMCGs) such as Unilver (UNILEVER:NL) and PZ have adopted various measures to remain profitable in the current harsh economic climate. Unilever has opened a factory to manufacture butter in the country, and begun sales of retail packages for its tea and seasoning cubes. Other competitors such as Nestle and PZ Cussons (PZ:NL)…
Aliko Dangote, Nigerian businessman and richest man in Africa, says his refinery which is under construction will be completed in the last quarter of 2017. In a recent interview with Bloomberg, the chief executive officer of Dangote Group shared his business ideals and the next step for his business empire. Here are 10 key topics he…
American private equity firm Milost Global Inc. has announced that, together with its African subsidiary, Isilo Capital Partners it has closed the acquisition of a 100 percent interest in Primewaterview Holdings Nigeria Limited a large scale, diversified holding company with a portfolio of Real Estate, Oil & Gas, Quarry Mining, Healthcare and Power for a…
Sub-Saharan Africa’s rising population and economies have led to a growing middle class and, in turn, more spending power which provides “a vast source of potential for prosperity,” per experts at the African Development Bank. The big picture: Since 2000, the wealth of sub-Saharan African nations has been growing much faster than the global average and than…
Inside the headquarters of Ozzie Business and Hospitality Group, an office that is as small as an ordinary studio apartment in Bole, the exclusive neighborhoods of Addis Ababa, Kumeneger Teketel is multitasking. He is seated comfortably in an office facing the magnificent landmark Bole Medhanealem Church with a view of the capital that is fast…