Company news

31 May 2018 | Business

MTN's Ghana unit to raise nearly US$750 million in IPO

The Ghana business of telecoms operator MTN is seeking to raise 3.47 billion cedis (US$743 million) in a 35% initial public offering (IPO) to be launched on Tuesday, transaction sources said.

MTN will sell about 4.63 billion shares of its Ghana unit in what is expected to be the West African country’s largest IPO at 0.75 cedis per share, the sources said.

-Nampa/Reuters

Kenyan regulator could force Safaricom to share agents' network

Kenya’s largest telecoms operator Safaricom could be forced to offer rivals access to its transmission sites and its vast network of mobile money outlets if a draft regulatory report on boosting competition in the sector is implemented.

The recommendations are contained in a draft report that the regulator, Communications Authority of Kenya (CA), is finalising, an official from the regulator told Reuters on Monday, declining to say when it would be published.

-Nampa/Reuters

Steinhoff Africa Retail interim profit lifts 12%

Steinhoff Africa Retail (STAR) said on Tuesday half-year profits were up 12% supported by strong growth in its Ackermans brand and the turnaround of the retail JD Group, but it was slowing its expansion in Africa.

Headline earnings per share, the main profit measure used in South Africa that strips out once-off items, for the six months ended 31 March 2018 rose to 52.6 cents per share compared with 46.9 cents in the comparable year ago period.

-Nampa/Reuters

LG baits SA with 'good value' G7 ThinQ

LG has launched its new G7 ThinQ in SA in a bid to give its mobile business a boost.

The brand, which registered an operating loss of US$126.8million in mobile in the first quarter of 2018, will be pushing sales of the G7 ThinQ in the near future.

"In the coming months, we will be executing special hero promotions with the networks. This will ensure customers easily understand the product features and where to get the device," Deon Prinsloo, general manager of mobile, LG South Africa, told Fin24.

-Fin24

Kenya Air CEO open to SAA pact

Kenya Airways could cosy up to rival South African Airways (SAA) as the embattled companies seek to narrow the gap with Ethiopian Airlines Enterprise.

The Nairobi-based airline views a closer relationship with SAA, the No. 2, as a possibility amid turnaround efforts at the unprofitable operators, chief executive officer Sebastian Mikosz said in an interview.

Mikosz said he has spoken with Peter Davies, the restructuring expert recruited by the South African carrier last year, to see "what we can do together."

-Fin24

Nestle to cut 500 jobs in Switzerland

Nestle plans to eliminate up to 500 information technology jobs at its Swiss home base as its shifts work to an existing tech hub in Spain and other locations, the food and beverage giant said on Tuesday.

None of the group’s Swiss production sites will be affected by the plan, which is being presented to staff for consultation, it said in a statement.

Its Nespresso coffee business also plans to establish operational centers in Spain and Portugal to benefit from existing Nestle e-commerce and supply chain hubs, and intends to create a center for boutique operations in Italy too.

-Nampa/Reuters

Similar News

 

BIPA, NaCC sign Memorandum of Understanding

22 hours ago | Business

The Business and Intellectual Property Authority (BIPA) and Namibian Competition Commission (NaCC), on Friday signed a Memorandum of Understanding (MoU) to foster a relationship in...

RCC employees sent home until further notice

22 hours ago | Business

Over 60 employees of the Roads Contractor Company (RCC) were on Thursday sent home after being denied access to their rented offices, which are owned...

Women in commercial banking leadership

22 hours ago | Business

STAFF REPORTERThe Namibian Financial Sector Charter, introduced by the Ministry of Finance in November 2008, constitutes a framework and establishes the principles upon which empowerment...

BIPA keen to address gaps in Copyright bill

22 hours ago | Business

PHILLEPUS UUSIKUThe Business and Intellectual Property Authority (BIPA) is keen to update and modernise copyright protection in Namibia to ensure musicians, authors, artists and developers...

COMPANY NEWS IN BRIEF

22 hours ago | Business

GM in talks to build second US battery plant General Motors Co said it is considering building a second battery factory in the United States...

Toyota retains market leadership in tough climate

22 hours ago | Business

South Africa has just posted a record unemployment rate of 32.5% for the last quarter of 2020, and the local economy continues to suffer the...

Volvo Cars launches pure electric Volvo C40

22 hours ago | Business

The future of Volvo Cars is electric and the new Volvo C40 Recharge is the latest manifestation of its commitment to a zero-emission future.The C40...

Spike in Letshego Nam’s impairment charge

3 days ago - 05 March 2021 | Business

Jo-Maré Duddy – Letshego Holdings Namibia’s (LHN) impairment charge for the year ended 31 December 2020 spiked by about 239% on an annual basis, contributing...

Pandemic banking

3 days ago - 05 March 2021 | Business

It is financial results season and the impact of Covid-19 and measures to contain its spread are obvious from the performance of local companies. Yesterday,...

Sustainable finance a catalyst for recovery

3 days ago - 05 March 2021 | Business

Sustainable finance is a catalyst for Namibia’s recovery from the coronavirus pandemic which caused a lot of disruptions in the domestic economy.According to Marco Triebner,...

Latest News

RCC employees sent home until...

22 hours ago | Business

Over 60 employees of the Roads Contractor Company (RCC) were on Thursday sent home after being denied access to their rented offices, which are owned...

Gondwana and Hollard head back...

22 hours ago | Justice

ELLANIE SMITWINDHOEKGondwana Collection Namibia and Hollard Insurance Namibia will face each other again in court on 31 March after Gondwana last week brought an urgent...

'Premature' to discuss fracking

22 hours ago | Environment

ELLANIE SMITWINDHOEKEnvironment minister Pohamba Shifeta says it is “premature and confusing” at this stage to discuss the risks of fracking in the Kavango regions, when...

Veterans want to be appointed...

22 hours ago | Politics

TUYEIMO HAIDULAEMBANDU The president of the Namibia National Liberation Veterans Association (NNLVA), Ben Shikongo, says members of the organisation want to be appointed to...

Women in commercial banking leadership

22 hours ago | Business

STAFF REPORTERThe Namibian Financial Sector Charter, introduced by the Ministry of Finance in November 2008, constitutes a framework and establishes the principles upon which empowerment...

Kenya to reject budget if...

22 hours ago | Economics

OMAR MOHAMMEDA Kenyan parliamentary committee said that it will reject the government's 2021/22 budget plan if the deficit goal is set at more than the...

Fishing rights announcement soon

22 hours ago | Fishing

OGONE TLHAGEWINDHOEKFisheries minister Albert Kawana is expected to announce who his ministry has chosen for new fishing rights at the end of this month.This brings...

Women still live in fear

22 hours ago | Opinion

Namibians can be proud of the progressive legal frameworks that are in place to protect women from violence and discrimination.Legally, women are ensured of the...

Zimbabwe's manufacturing bullish on better...

22 hours ago | Economics

Zimbabwean manufacturers expect to ramp up production to 61% of capacity this year, the highest level in a decade, on expected stability in the foreign...

Load More