ICD Acquires Capitas Group Int’l

By Kestér Kenn Klomegâh BRICS (Brazil, Russia, India, China and South Africa), a group of emerging market powers and one of the most popular organizations, seeks to approve African States into its fold and build on its existing economic and trade with other invited African leaders during the 15th summit in Johannesburg, South Africa. The BRICS members are meeting to deliberate on a broad range of important multiple issues, including new membership, common currency, various parameters of development and security and institutional architecture. More than 70 states are participating, including African leaders, while 23 States have submitted formal applications to

By Adedapo Adesanya The Director-General (DG) of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala, and the President of Kenya, Mr William Ruto, will hold a discussion on positive climate growth, investment, and trade in Africa tomorrow (Tuesday, September 19). The conversation, hosted by the Africa Center in partnership with Global Citizen, Climate Action Platform Africa (CAP-A), and the Government of Kenya, will take place at The Africa Center at Aliko Dangote Hall in New York City. Speaking on the programme, Mr Uzodinma Iweala, CEO of The Africa Center, said the conversation was coming at a time when Africa is

By Adedapo Adesanya African Development Bank (AfDB) President, Mr Akinwumi Adesina, has called for investments in renewable energy in Africa, pointing out the continent’s rich energy mix. In his keynote address (on September 4) during a session on Harnessing Africa’s renewable energy potential’, held at the ongoing Africa Climate Summit in Nairobi, Kenya, Mr Adesina stressed that “Every economy can only go as far as the energy it produces.” Mr Adesina underlined Africa’s tremendous potential in energy—from hydro and wind power, solar, to geothermal—which remains untapped in the face of a staggering electricity deficit on the continent. Africa has an

Kestér Kenn Klomegâh South Africa hosted the 15th BRICS summit from August 22 to 24. The BRICS (Brazil, Russia, India, China and South Africa) members have thoroughly discussed a wide range of significant issues, including the bloc’s expansion, common currency, investment and trade, the bloc’s strategy and geo-policy. We already know that BRICS members consistently champion the rights and interests of Africa and also play an increasing role and influence in the global governance system – particularly international financial and economic organisations. Holding the 15th summit, especially this crucial time, within the context of the emerging multipolar world, BRICS discussed

By Modupe Gbadeyanka Nigeria’s leading Electricity Distribution Company, Ikeja Electric Plc, has been rewarded for its strict adherence to high safety policy and commitment to safety of life. The firm was recently named as the 2018 WSO-NG Concerned Organization of the Year at World Safety Organizations (WSO) National Conference and Awards held in Lagos. WSO is an international association of HSE Professionals offering a broad selection of accredited professional certifications for Environmental and Occupational Safety and Health professionals worldwide. At the awards ceremony, WSO explained that it honoured Ikeja Electric for its outstanding dedication and support to “making safety a

By Investors Hub The major U.S. index futures are pointing to a higher opening on Monday, with stocks poised to extend the rally seen in the previous session. Stocks may continue to benefit from a positive reaction to the monthly jobs data released by the Labor Department last Friday. Trading activity may be somewhat subdued, however, with a lack of major U.S. economic data likely to keep some traders on the sidelines. Stocks moved sharply higher over the course of the trading day on Friday, adding the gains posted on Thursday. With the upward move on the day, the tech-heavy

By Modupe Gbadeyanka Winner of a raffle draw held when African Alliance Insurance Plc hosted the Nigerian Council of Registered Insurance Brokers (NCRIB) Members’ Evening in Lagos, Mr Bala Augie, has finally received his prize. Mr Augie, a journalist in Nigeria, emerged the star prize winner of a year-long Term Assurance Plan during the raffle draw session of the programme. During the presentation of the prize to him, the Managing Director/Chief Executive Officer of African Alliance Insurance Plc, Mrs Joyce Ojemudia, charged him to be an ambassador of insurance in Nigeria. “We are honoured to present this Term Assurance plan

By Modupe Gbadeyanka The removal of subsidy on premium motor spirit (PMS), otherwise known as petrol, earlier planned for next month has been suspended by the National Economic Council (NEC). The Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed, announced the suspension of the fuel subsidy removal during a chat with state house correspondents in Abuja on Thursday. She disclosed that at the meeting chaired by the Vice President, Mr Yemi Osinbajo, it was explained that the action was taken because of the timing of the removal. The government of President Muhammadu Buhari had planned to remove petrol

By Dipo Olowookere Shareholders of Total Nigeria Plc will receive a N4 interim dividend for the first half of the 2021 financial year, the board has confirmed. On Thursday, the energy firm released its financial statements for the period ended June 30, 2021, and analysis showed that the company had an impressive performance, recording double-digit growth in its earnings. The organisation said in the period under review, its revenue improved to N151.1 billion from N106.7 billion achieved in the same period of last year, with the major contributor being the sale of its petroleum products, which rose to N144.0 billion

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week in the bearish territory on Monday, December 20 as a result of a decline of 0.16 per cent. Securities of two companies admitted at the unlisted securities market were responsible for the poor outcome and they were NASD Plc and Air Liquide Plc. NASD Plc depreciated by N1.95 or 7.8 per cent to close at N25.05 per share against N27.00 per share of the previous session, while Air Liquide Plc, on its part, recorded a 50 kobo or 9.1 per cent loss to close at N5.50 per unit

By Dipo Olowookere Tier-II lender, Fidelity Bank Plc, has commenced Saturday banking to allow customers to deposit cash into their bank accounts. The financial institution confirmed this development in a notice sent to its customers over the weekend. It explained that the purpose of this is purely to receive cash deposits from customers following plans to introduce new Naira notes into the nation’s financial system to tame inflation. “President Muhammadu Buhari approves redesign, production, and circulation of new series of N200, N500, and N1,000 banknotes,” the Central Bank of Nigeria (CBN), said last week, urging Nigerians to support the currency

By Modupe Gbadeyanka A total turnover of 1.101 billion shares worth N17.082 billion were traded on the floor of the Nigerian Stock Exchange (NSE) last week by investors in 15,431 deals. This was higher than the 713.141 million equities valued at N13.295 billion transacted a week earlier in 16,237 deals, data from the NSE disclosed. During the week, the financial services industry led the activity chart by volume with 752.4 million shares valued at N9.9 billion traded in 8,519 deals, contributing 68.34 percent and 57.96 percent to the total equity turnover volume and value respectively. The conglomerates sector followed with