Economy
General Electric Opens New Offices in Ethiopia
By Dipo Olowookere
As part of General Electric’s investment commitment to Africa, the company deepens its presence in the continent with the opening of new offices in Addis Ababa, Ethiopia on Friday. General Electric is the world’s leading digital industrial company.
The newly inaugurated facility has the capacity to host up to 60 staff members and represents a tangible commitment from GE towards a long-term partnership with its Ethiopian customers.
“GE’s presence in Ethiopia is a demonstration of the government’s efforts to create a conducive business environment for foreign investors and further underpins the government’s commitment to support economic value in line with our aim to achieve lower middle-income status by 2025,” stated Dr Mulatu during the event.
GE continues to be a key partner for Africa with significant presence in the Sub-Saharan Africa region with over 2600 employees, revenues of about $3.9 billion in 2016 and operations in 33 countries. GE’s partnership with African Governments and local companies forms an essential part of GE’s growth formula on the continent and is driven by our very local teams.
In Ethiopia, GE businesses are playing a central role in the implementation of the Second Growth and Transformation Plan (GTP), providing technology solutions, enabled with material knowledge transfer and capacity development localization schemes in partnership with State Owned Enterprises and local private sector companies.
Daniel Hailu, Chief Executive Officer of GE in Ethiopia said, “GE has been operating in Ethiopia for about 9 years and has grown from a staff of one to over 40 local professionals today. We are delivering impactful outcomes for our Customers and we are eager to expand our participation in the GTP projects across the power, transportation and healthcare sectors.”
Earlier in the week, GE held a Digital Industrial seminar in Addis Ababa, Ethiopia to introduce GE’s Digital capabilities.
The event gathered key players in public and private space to discuss the relevance of the industrial transformation in unlocking prouctivity and capacity in the Ethiopia industries.
GE is pioneering technologies to enable operations in a wide variety of sectors ranging from healthcare, power, transportation to capitalize on the maturation of Industrial Internet by enabling faster, smarter and more efficiently operations.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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