Coca-Cola is gearing up for a potential initial public offering (IPO) of its African bottling business, which it previously put on hold, according to sources familiar with the matter. The beverage giant is contemplating a dual listing for Coca-Cola Beverages Africa in Johannesburg and Amsterdam, sources said. It may aim for a valuation of more … Read more
Glovo, a well-known food delivery platform, has made the decision to cease its operations in Ghana effective May 10, 2024. This move marks a significant withdrawal from the Ghanaian market, following the company’s investment of €3.5 million ($3.7 million) over the past two years to expand its services. The decision was communicated to Glovo’s network … Read more
In a significant financial maneuver, the Central Bank of Nigeria (CBN) extended a fresh N3.8 trillion in Ways and Means to the federal government during the last six months of 2023. According to CBN data for the fourth quarter of 2023, the total figure surged to N8.2 trillion in December from N4.4 trillion at the … Read more
Asanko Gold Ghana Limited has taken a significant step towards promoting healthcare accessibility by enrolling over 1,500 individuals in the free National Health Insurance Scheme (NHIS) during the first quarter of this year. Dr. Daniel Osei Twumasi, the Manager for Environment and Sustainability at the mining firm, highlighted the company’s commitment to providing free healthcare … Read more
In a surprising turn of events, Nigeria’s currency, the naira, experienced a significant surge of 5.93 percent on the parallel market, commonly known as the black market. On Monday, the local currency traded at a rate of N1,350 against the US dollar, marking a notable improvement from the N1,430 exchange rate recorded on Friday. Currency … Read more
In a significant move towards economic revitalization, Minister of Steel Development, Shuaibu Abubakar Audu, has initiated discussions with the original developers of Ajaokuta Steel Company Limited (ASCL), Tyamzhpromexport (TPE), aiming to breathe new life into the steel plant. The minister convened a meeting in his Abuja office with a consortium comprising representatives from Russia’s TPE/Rostec, … Read more
The Dormaa East District Assembly in the Bono Region has given out 20,000 special coconut plants to farmers in Nsesresu, as part of the government’s Planting for Export and Rural Development (PERD) plan. This initiative aims to help farmers grow more coconuts and improve their incomes. How to Make the Most of the Seedlings During … Read more
The big boss at Promasidor Ghana, Festus Tettey, says getting money at a fair price is super important for businesses to grow and do well. He says if companies can’t afford to invest in new ideas, better stuff, and working smarter, they won’t be able to compete well in the market. Tettey explains that businesses … Read more
Guinness Nigeria, a subsidiary of Diageo Plc, experienced a staggering after-tax loss of N61.7 billion for the nine-month period ending March 31, 2024, despite implementing significant price increases. The company’s financial report showed a stark contrast to the N5.9 billion profit recorded during the same period in 2023. Despite a notable 28 percent growth in … Read more
In a significant move aimed at fostering digital inclusion, Mastercard West Africa has set a lofty target: connecting one billion people and 50 million micro and small merchants to the digital economy by 2025. This ambitious initiative underscores Mastercard’s commitment to bridging the digital divide and empowering individuals and businesses, especially those traditionally underserved or … Read more