Ecobank high-stakes maritime gamble: The untold conclusion of MT Tumini abandonment and many questions begging for answers

MT Tumini

In 2014, the Nigerian media was flooded with a story about an ill-fated vessel that captured the nation’s attention and even reached the shores of the Republic of Trinidad and Tobago. ALSO READ: Drama as Otudeko asks FirstBank to disregard Ecobank’s requests Sometime in September of that year, a report …

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‘Appropriate priced asset’ Standard Bank consider acquisitions in Nigeria, Kenya amid stiff competition in South Africa

stanbic ibtc and real estate developmebt

Against the backdrop of increasing competition in its home market of South Africa, Standard Bank Group, which operates as Stanbic IBTC Holdings in Nigeria, is open to acquisitions in the country and Kenya as it looks to expand its presence across Africa. In an interview with Bloomberg, CEO Sim Tshabalala …

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‘Ill-conceived!’ Discos vow to battle FG over takeover, restructuring

The receiver/manager’s nominee of Integrated Energy Distribution and Marketing Company on Wednesday said it was the legal and beneficial owner of 60 per cent (controlling and managing) shareholding interests in the Ibadan Electricity Distribution Company. Also, the management of Benin Electricity Distribution Company Plc said on Wednesday that there was …

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‘We are thrilled’ valU signs agreement with Alhokair family to sell minority stake

valu solid en

valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today that Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz Alhokair (“Alhokair Family”) have entered into an agreement to acquire a 4.99% stake in valU through a capital injection of USD 12.4 million, signifying a valuation of USD …

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‘For $37 million’ Access Bank to acquire Kenya’s Sidian Bank after 83.4% stake in Centum Investment

Access Bank Holdings Plc has announced that its wholly-owned subsidiary, Access Bank Plc has entered into a binding agreement with Centum Investment Company Plc (‘Centum’) for the acquisition of the entire 83.4% equity stake held by Centum in Sidian Bank Limited. The statement signed by Sunday Ekwochi, Company Secretary noted …

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‘Driving expansion’ Autochek acquires Morocco’s leading auto tech startup

Automotive technology company, Autochek, has acquired KIFAL Auto, Morocco’s leading automotive technology startup, to drive its expansion into North Africa. This acquisition represents the first major expansion of a West Africa-based startup into North Africa, and it will facilitate effective Pan-African collaboration to drive innovation across the continent’s growing automotive …

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‘Islamabad Diagnostic Centre’ EFG Hermes advises TPG’s Evercare Group on 50% stake sale

EFG Hermes’ investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it has successfully advised TPG’s Evercare Group on the sale of its 50% Stake in Islamabad Diagnostic Centre (IDC) to Integrated Diagnostics Holding (IDH) for a total consideration of USD 72.35 million. …

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‘Black Dice Café’ Akintunde Salako redefines luxury lifestyle as FUBU opens new hotel Dec 23 (Flyer)

Black Dice Café is a new entrant into hospitality haven and it is positioned to take fun and entertainment experience to the next level, where the A-lists, celebrities, entertainers, crème-dela-crème and who-is who in the society and tourists from abroad can visit to unwind and relax with maximum security. The …

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‘Indisputable Pan-African champion’ Moroccan firm acquires Mouka Foam in $60m deal

Moroccan mattress maker, Dolidol, has acquired Mouka Foam, a leading Nigerian mattress brand, as part of its ambition to become a pan-African beddings and mattress company. Dolidol, a market-leading operator in Francophone Africa involved in the manufacturing and distribution of bedding and mattress products, acquired the Nigerian giant, Mouka with …

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