Shareholders of Kenyan telecoms firm Safaricom are due to vote on whether to give Vodafone Kenya the right to nominate the company’s chief executive officer, once Vodafone holds more than 50% of Safaricom’s shares. Vodacom which already owned 39.9% of Safaricom through Vodafone Kenya, agreed in December to buy Kenya’s 15% stake for about $1.6...
Tag: Business
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EU Automakers Want UK Included In ‘Made In Europe’ Rules
European automakers on Wednesday called for British vehicles and car parts to fall under the definition of “made in Europe” set out. This is part of the new rules aiming to bolster the bloc’s industries. Britain currently risks being shut out of the scope of plans unveiled by Brussels in March tying companies’ access to...
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Shettima Says F.G’s Reforms Boost Investment, Ease Business Nationwide
Nigerian Vice President Kashim Shettima on Wednesday said the administration of President Bola Ahmed Tinubu had taken difficult but necessary decisions to place Africa’s largest economy on a path of sustainable growth. Speaking at the opening of the 2026 Jigawa State Investment Summit in Dutse, the vice President said the federal government’s structural and fiscal...
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Comcast Plans To Split NBC Universal, Sky Into Separate Company
Comcast said on Monday it would split its NBC Universal and Sky media businesses into a separate company, a move it says will allow both entities to pursue independent growth strategies and enhance long-term shareholder value. The U.S. cable and media giant said its board and management believe the separation would better position each company...
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Binance Pledges To Stay In Europe Despite Licence Setback
Binance on Wednesday reiterated it’s commitment to operating in Europe despite facing regulatory setbacks that have complicated its efforts to secure licences under the European Union’s new crypto framework. The company said it would continue its engagement with regulators across the region after encountering obstacles in obtaining authorisation under the Markets in Crypto-Assets (MiCA) regime,...
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Diezani Cleared Of Bribery Charges By London Jury
Former Nigerian oil minister Diezani Alison-Madueke was on Wednesday cleared of six bribery-related charges following a lengthy trial in London. This ruling marks a significant setback for British authorities who had pursued corruption allegations against her for more than a decade. Alison-Madueke, who served as Nigeria’s minister of petroleum resources between 2010 and 2015 under...
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Lagos Fishermen Seek Assistance As LASWA Intensifies Waterway Safety Enforcement
Fishermen operating on Lagos waterways have called for greater government support to cushion the impact of rising operational costs, even as the Lagos State Waterways Authority (LASWA) intensified efforts to enforce safety regulations across the state’s inland waterways. At a stakeholders’ engagement in Badagry, Lagos state Southwest Nigeria, LASWA reminded fishermen of mandatory safety requirements,...
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Indonesia Annouces Surprise Rate Hike As Rupiah Slides
Indonesia’s central bank unexpectedly raised its benchmark interest rate by 25 basis points on Tuesday, citing heightened global volatility and mounting pressure on the rupiah, as policymakers moved to shore up confidence in Southeast Asia’s largest economy. The move lifted the benchmark rate to 5.5%, more than a week ahead of the bank’s scheduled monthly...
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Nigeria Capital Market Adopts T+1 Settlement Cycle
Nigeria’s capital market on Monday transitioned to a T+1 settlement cycle, reducing the time required to complete securities transactions to one business day from two, in a move aimed at improving market efficiency, liquidity and global competitiveness. The reform, which took effect on June 1, was implemented by key market institutions including the Nigerian Exchange...
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Nvidia Annouces Annual $150 Bn Investment In Taiwan
Nvidia will increase its annual investment in Taiwan to $150 billion, up from $100 billion, as the U.S. chip giant expands its role in the global artificial intelligence supply chain, Chief Executive Jensen Huang said on Wednesday. Speaking in Taipei ahead of next week’s Computex, Huang described Taiwan as the “epicentre of the AI revolution”...
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