Nigeria and the United States have commenced plans to leverage on US President Barack Obama’s $14bn investment pledge in Africa, for an effective financing structure for infrastructure in Nigeria. The Minister of Industry, Trade and Investment, Olusegun Aganga, and the US Commerce Secretary, Penny Pritzker, agreed during a bilateral meeting at the just-concluded US-Africa Summit that increased investment in the area of infrastructure would further improve the Nigerian business environment, noting that Obama’s focus on power was particularly encouraging.
Updated 5 Years ago

Forte Oil PLC (formerly AP Plc) Friday in Lagos announced its audited results for the half-year ended June 20, 2014, showing sustained growth across its bottom-lines. Analysis of the results released by the Nigerian Stock Exchange (NSE) showed that its profit before income tax increased 152 per cent to N4.19 billion compared to N1.66 billion recorded in H1 2013.
Updated 5 Years ago

Diamond Bank Plc has advised operators of small and medium scale enterprises (SMEs) to list on the Nigerian Stock Exchange (NSE) and take advantage of the opportunities inherent in the capital market. The bank specifically stressed the need for the operators to grow their small scale businesses to a level where they can be listed on the stock exchange.
Updated 5 Years ago

What is it about the word sales that makes some of us so uncomfortable? As entrepreneurs, especially in startup mode, you’re going to need to get a handle on selling. The truth is you’re constantly selling yourself and your business, so it’s better to improve this skill and refine it then avoid it altogether. Aside from professional coaching or seminars, there are some simple steps you can take to improve your sales -- starting with a few good books on the subject.
Updated 5 Years ago

Raking in $102,824 on Indiegogo in a campaign that ended July 3, the start-up Ambronite, maker of a drinkable organic "supermeal," achieved a goal that most crowdfunders would envy: It exceeded its $50,000 target by more than 100 percent. "It was really exciting to see so many people around the world fund our product," said CEO Simo Suoheimo, one of five co-founders at the start-up, which has offices in San Francisco and in Helsinki, Finland, where the young entrepreneurs developed the natural food product in a business accelerator.
Updated 5 Years ago

Franchising was destiny for brothers Joe and Allen Hertzman of Louisville, Ky., and one they've taken to award-winning heights. But their success--the two own six Long John Silver's, 13 Rally's and 24Papa John's Pizza units--is tempered with pragmatism. "I'm not 100 percent comfortable bragging," Joe says. "The restaurant industry can turn on a dime. You never know what's going to happen next year."
Updated 5 Years ago

Shell has commenced production from its first well at the Bonga North West deepwater development off the shores of Nigeria. Production activities from this new well are expected to boost Nigeria’s crude oil by 40,000 barrels per day and culminate in crude earnings of N672 million ($4.2 million) daily. In 2005, the Bonga project became Nigeria’s first deep‐water development in water depths beyond 1,000 meters.
Updated 5 Years ago

JSE-listed gold miner, AngloGold Ashanti, on Monday said it will re-start operations in a phased manner at its Great Noligwa and Moab Khotsong mines. Operations at these mines were halted last week after an earthquake which measured 5.3 on the Richter scale hit South Africa a couple of days ago.
Updated 5 Years ago

JSE-listed petrochemicals firm, Sasol, on Monday said profits for the year ended June this year were pleasing and solid, boosted by the weakening of the rand against a basket of currencies. Sasol said headline earnings a share is likely soar by between 11 percent and 17 percent during the period under review. South African companies use headline earnings as a measure of profitability.
Updated 5 Years ago

Iran has set a target of $400 million in handmade carpet exports for the current Iranian calendar year, which began on March 21, according to Hamid Karegar, the acting director of Iran's National Carpet Center. Iran exported about 1,000 tons of hand-made carpets in spring 2014, a 23.7 percent growth in weight compared to spring 2013, the IRNA news agency reported on Sunday.
Updated 5 Years ago