Business

Volkswagen to invest $210 mln in South Africa

Posted on by Editor
Volkswagen to invest $210 mln in South Africa

Volkswagen plans to invest additional $210 million in its South African manufacturing plant in the Eastern Cape in preparation to manufacture a new SUV from 2027, it said on Tuesday. South Africa is the largest automotive manufacturing hub on the African continent, hosting global brands such as Toyota, Isuzu, Volkswagen and Mercedes. The German carmaker’s statement said the investment will be used to upgrade facilities in various areas in preparation for the addition of a…

Read More

Ghana fails to reach debt deal with international bondholders

Posted on by Editor
Ghana fails to reach debt deal with international bondholders

ACCRA (Reuters) – Ghana has failed to secure a workable debt deal with two bondholder groups in its push to restructure $13 billion of international bonds, the government said on Monday, in a blow to its efforts to swiftly emerge from default and economic crisis. Formal talks were on hold for now after the International Monetary Fund indicated that the deal would not fit its debt sustainability parameters, the government said in a statement. “We…

Read More

Obasanjo Farms and Fan Milk Join Forces

Posted on by Editor
Obasanjo Farms and Fan Milk Join Forces

Fan Milk PLC, has announced a strategic partnership with a farm operated by Obasanjo Farms Nigeria Limited, aimed at advancing dairy farming expansion and promoting local sourcing in Nigeria. The farm, situated in Iseyin, Oyo State, is expected to produce 300 heifers within the first year of project and it is expected that the farm would double that figure by end of December 2026 while Fan Milk will be importing 100 pregnant heifers from Egypt….

Read More

Nigerian Companies Win Big on Bets

Posted on by Editor
Nigerian Companies Win Big on Bets

Thirteen companies quoted on the Nigerian Exchange Limited (NGX) survived macro economic challenges in 2023 to generate N9.44 trillion revenue, representing an increase of 30.5 per cent from N7.23 trillion reported 2022. Analysis of the companies’ results showed that MTN Nigeria Communication Plc generated the highest revenue in the period under review, followed by Dangote Cement Plc. Companies operating in Nigeria last year were faced with low purchasing amid hike inflation that spread across Africa,…

Read More

Angola working with China to boost economic development

Posted on by Editor
Angola working with China to boost economic development

LUANDA — Angola stands ready to learn from China’s experience and achieve social and economic development through cooperation with China, Luis Cupenala, president of Angola-China Chamber of Commerce (CAC), has said. “It’s a miracle that China went from privation to the world’s second largest economy. We are impressed and inspired,” Cupenala told newsmen in an interview. This is the experience “we want to learn from and to work humble on our side,” he said, adding…

Read More
1 2