Verizon agrees $130 billion deal with Vodafone

American telecommunication company and the largest wireless provider in the United States , Verizon Wireless has agreed to buy Vodafone’s 45% stake in Verizon making the telecoms company all American again.

Read More [...]

Posted in Business, Telecoms

First in Africa: Dangote now worth $20bn

Announcement! Announcement!! Announcement!!! We hereby announce that Alhaji Aliko Dangote, the richest man in Africa has taken his wealth to a whole new and historic level.

The Hausa man from Northern Nigeria has attained the mark of $20bn due to the fact that his 93% stake in Dangote Cement is now worth $19.5bn.

Read More [...]

Posted in Business, people

GT Bank wins 2013 African Bank of the year award

At the 2013 African Banker Awards ceremony that held in Marrakech, Morocco, Nigeria’s Guaranty Trust Bank has been named the African Bank of the year. The Banker Awards ceremony which was organized by African Banker Magazine, IC Events and BusinessinAfrica Events held on Wednesday, May 29th.

Read More [...]

Posted in Business

Dangote starts construction of a $500m cement plant in Tanzania

Dangote cement has started the construction of a $500 million cement plant which will be able to produce three million metric tons of cement per year when finished. The cement plant is to be located in Mtwara, Tanzania. The commencement of this plant Dangote said is part of the group’s strategy to increase its cement production capacity.

Read More [...]

Posted in Business, Machines

PHCN Electricity meters to cost between N25,000 and N50,000 says NERC boss

For some of you may like to acquire electricity meters for your houses and shops, it has been revealed that the single phase meters will cost about N25,000 while three phase meters will go for about N50,000.

The positive though, is that consumers who buy the meters will get refunds in form of monthly reduction in charges to the tune of the meter cost according to NERC chairman Dr. Sam Amadi.

At a stakeholders’ workshop on metering code 2 in Abuja yesterday, Dr. Sam Amadi disclosed that the Bureau of Public Procurement (BPP) has given approval to NERC to engage the vendors after conduction of a procurement exercise.

Read More [...]

Posted in Business, Gadgets

Anyim Pius Anyim claims “Millennium City” Project will provide more than 50,000 jobs

The secretary to the Government of the Federation, Anyim Pius Anyim, on Friday at the 15th convocation lecture of Enugu State University of Science and Technology (ESUT) said the Centenary City Project would provide more than 50,000 construction jobs and 5,000 permanent jobs for Nigerians.

The former Senate President was represented at the occasion by his Senior Special Assistant on Research and Documentation, Ferdinand Agwu.

In a lecture titled “Celebrating Nigeria at 100, Successes and prospects of a United Country”, he said the city would host 100,000 people at the end of its five-year development.

Read More [...]

Posted in Business, politics

Observations about the newly released 2013 Forbes rich list

Forbes has released its annual world’s billionaires list for 2013 and there are certain things that caught the eye in this year’s list. As expected, some have gained and some have lost over the course of the past year.

To cut the long story short, here are the most obvious observations about this year’s list;

1.      This year’s list contains 1,426 billionaires, an all-time high. The net worth of the billionaires is $5.4 trillion, up from $4.6 trillion last year, an all-time high also.

2.      The richest man on the planet is Carlos Slim Helu. The Mexican has been the richest man for four years in a row with a net worth of $73 billion this year. The telecom mogul is up $4 billion from last year.

Read More [...]

Posted in Business, Specials