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The Managing Director and Chief Executive Officer of Berger Paints Nigeria Plc, Mrs. Alaba Fagun, has ascribed the outstanding performance of the company for the financial year ended December 31, 2023, to the market appreciation of its rebranding, customer-centric policy, deployment of modern technology to ensure quality products and availability of strong human capital. Despite …
Continue reading “Rebranding , customer-centric policy are paying off – Berger Paints MD”
To some observers, the spate of big, bold acquisitions embarked upon by Access Bank in the last few years was , at a point in time , nothing but like treading where the angel feared . However , the bank has proved the bookmakers and pessimists wrong , leveraging on its spate of acquisitions to …
Continue reading “Access Bank: Proving The Bookmakers Wrong, Leveraging on Acquisition”
There is no respite yet in First Bank of Nigeria as another round of squabbles is currently rocking its board over some crittical decisions taken recently . The current crisis stems from protests by shareholders who are kicking against the bank’s internal governance and shareholding structure, as a result of which some of them have …
The Bank of Uganda (BoU), Uganda’s apex bank, has downgraded Guaranty Trust Bank (GTBank) from a Tier I commercial bank to a Tier II credit institution. The bank, alongside two others, had applied to be downgraded following anticipated failure to meet the new capital buffer requirements. The other banks affected are Kenya’s ABC Capital Bank …
Continue reading “GTBANK loses commercial bank status after Bank of Uganda downgrade”
Despite the supersonic jump in its profit in 2023 financial year,FBNH only translates to less than N20 every N100 revenue made at the top line to profit to further confirm its inefficient profit machine and poor foresight of its leadership in the last two decades . The changing fate of First Bank Nigeria ,FBN, a …
According to the United States Department of Agriculture, global sugar production increased to 183.46mmt (million metric tons) in 2023 from 175.31mmt in 2022 but remained below global sugar requirements. The increase was largely driven by Brazil and India’s production, which account for over 40% of the global sugar supply. It was not surprising that concerns …
Continue reading “Dangote Sugar Refinery Plc FY 2023 Result: A Walk on Troubled Waters”
Nigeria’s cement companies are going through a rough patch despite rising market product prices. Rising input and logistics costs and falling exchange rates have made cement-making difficult. A senior executive of one of the big three product manufacturers who requested anonymity said, ‘We understand the social sensitivity of cement, but to ensure sustainability, we must …
Continue reading “Dangote Cement FY 2023: Net Sales Rises 36.6%, Despite Tough Business Environment”
Nigerian Telcos had a harsh year in 2023, and the pain continues into 2024. The problem was less a matter of internal operating difficulties than a struggle against the consequences of the federal government’s fiscal and monetary policies. Analysts observed that the continuous rise in domestic interest rates and the gradual slide in the external …
Continue reading ” MTN Nigeria FY 2023 Result: FX Losses Hurt Bottom Line as PAT Drops 138.09%”
Lafarge Africa Plc FY 2023 Results: PBT Grows by 15.33% Despite FX Revaluation Loss The global cement business will remain modest amid geopolitical tensions and economic fragmentation. Outlooks put the market’s growth at between 2 and 3% in 2024. The Middle East, India, and Africa would drive the growth in the year. Growth in China …
Setting the Context The Asset Management Company of Nigeria (Amendment) Act, 2021, is like a lovely French souffle, crusty on the outside and soft in the middle. Its core mission was to be a key stabilizing and re-vitalizing tool in the Nigerian economy by ‘complementing the recapitalization of affected Nigerian banks; provide an opportunity for banks to …
