Category: BRANDS

A pan-African investment company, Heirs Holdings this week announced the appointment of Dan Okeke as Group Executive Director.  The appointment took effect from August 01, 2020. Mr. Okeke joins following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses.  At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the power, financial services, oil and gas, hospitality, real estate, healthcare, and financial technology…

Nigerians woke up on Monday 3RD OF July,2020  to the news that ShopRite, Africa’s largest food retailer is planning to exit Nigeria by selling off its outlets in the country The company later clarified the news in an update filed at the Johannesburg Stock Exchange (JSE) that it is not ‘exiting Nigeria’ but opening up to sell some of the shares of its Nigerian subsidiary to local investors. In the report, “Following approaches from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria,…

        South Africa’s grocery retailer ShopRite is leaving Africa’s biggest market, Nigeria, 15 years after it opened shop in the West African country. The announcement by ShopRite came months after another South African brand, Mr. Price, exited the market. International supermarkets (excluding Nigeria) contributed 11.6% to group sales and reported a 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw an 8.7% rise for the year. The company said it has been approached by potential investors willing to take over…

The Board of Directors of Wema Bank Plc. has announced the appointment of Mr. Oluwole Ajimisinmi as an Executive Director of the bank. Oluwole Ajimisinmi joined Wema Bank in June 2009 as the Company Secretary/Legal Adviser of the bank and is currently the Regional Executive in charge of the bank’s Retail, Commercial, and Public Sector business in the Lagos Business Directorate of the Bank. Wole is an experienced banking professional with over 25 years’ experience in legal, banking, financial risks mitigation, Commercial lending, transaction structuring, mergers & acquisitions, cross border…

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading listed conglomerate, owner of Transcorp Power Limited, one of Nigeria’s largest power producers and the iconic Transcorp Hilton in Abuja, has announced the appointment of Mrs. Foluke K. Abdulrazaq to its Board of Directors, as Vice Chairman, effective Friday, 5th of June 2020. Mrs. Abdurazaq brings considerable experience in both the public and private sectors.  Her public service career includes serving as a Commissioner in the Ministries of Finance and Women Affairs in Lagos State when during her tenure, the broad policies…

Advocates Martial Plan to Boost Electricity And Ease Debt Burden Wants Youths Prioritised as SMEs are Empowered  The Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self-reliant. He said this today at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo – Iweala, the Special Envoy of the African Union on Covid-19 and Tidjane…