Nigeria removes impediment to investment

LONDON: Speaking at Standard Bank's African Investors Conference, Lamido Sanusi, governor of the Central Bank of Nigeria announced that the one-year restriction associated with the holding period of the Certificate of Capital Importation (CCI) in the fixed income market will be lifted on the 1 July 2011. 27 Jun 2011 11:53

Davies maps route for free trade area

CAPE TOWN: The first phase of setting up a free trade area across 26 countries in Africa is expected to come into effect in three years, trade and industry minister Rob Davies said on Monday, 13 June 2011. 14 Jun 2011 12:00

Blue Label to terminate Nigeria activities

Blue Label Telecoms said on Monday (13 June 2011) that it has decided to terminate its business activities in Nigeria. Blue Label has an effective 36.72% stake in Africa Prepaid Services Nigeria through its 72% shareholding in Africa Prepaid Services. 13 Jun 2011 13:05

[Netprophet 2011] African ecommerce market has a long way to go

[Herman Manson: @marklives] A billion Africans and 50 million bank accounts. In South Africa, credit cards are used by only 16.5% of the population (2008). No African country comes close to 1% of total retail spend spent online - the magic figure which constitutes the tipping point for digital retail growth. No wonder, then, that the ecommerce market in Africa hasn't bloomed. 12 May 2011 18:55

Shoprite competition closes in

[Stafford Thomas] "Shoprite has taken advantage of the strong rand to invest in a lot of real estate in Africa by opening 16 additional stores in Nigeria this year and planning three new stores in Ghana," says Shoprite CEO Whitey Basson. 28 Feb 2011 09:30

Nigeria, Kenya consumer confidence increases

[Issa Sikiti da Silva] Consumer confidence in Nigeria and Kenya - two of Africa's leading economies - has significantly increased in the past six months, while Morocco experienced a slight decline and Egypt's index recorded a level below 50, a MasterCard Worldwide Index of Consumer Confidence released last week in Johannesburg has revealed. 31 Jan 2011 07:10

Nigeria: New refinery for Golden Sugar

Golden Sugar Company on Wednesday, 26 January 2011, signed a US$143.3 million, five-year syndicated multi-currency contract to finance the construction of a new sugar refinery complex in Lagos State, Nigeria. 28 Jan 2011 09:41

Unemployment, inflation worries hit consumer confidence

NEW YORK, US: Consumer confidence fell in 25 out of 52 countries in Q4 2010 as hope for a global economic recovery evaporated at the end of last year, according to the latest edition of the Nielsen Global Consumer Confidence Index, which tracks consumer confidence, major concerns and spending intentions among online consumers. 27 Jan 2011 11:00

Tiger Brands hungry for Nigeria market share

[Gareth Vorster] South African consumer goods group Tiger Brands said on Wednesday (24 November 2010) that its acquisition of a 100% interest in Deli Foods Nigeria, a manufacturer and marketer of biscuits, represents the first phase of the group's entry into Nigeria. 25 Nov 2010 10:07

Mr Price takes aim at Nigerian market

[Michael Bleby] Retailer Mr Price is eying Nigeria, a market it says could host up to 100 stores, if it could only end its ban on the import of clothing. 22 Nov 2010 11:00

Hope for full global economic recovery in 2010 diminishes

NEW YORK, US: After an upbeat start to the year with two consecutive quarters of increases in optimism, global consumer confidence fell three points in September to an Index of 90 as consumers' hopes for a full economic recovery this year fades in most parts of the world, according to the latest edition of the Nielsen Global Consumer Confidence Index. 27 Oct 2010 06:22

African investment in Princess Crossing Mall

The fully tenanted Princess Crossing Mall, situated in Ondekkers Road, Roodepoort, has been sold for close to R300 million to a West African investor - via a private property fund based in the Western Cape. 20 Aug 2010 08:39

China-Nigeria: New refinery planned for Lagos Free Trade Zone

[Toluwa Olusegun] LAGOS: Nigeria is a place where many more deals are announced than are ever completed. But July saw progress towards the construction of one of three new Nigerian refineries expected to reduce imports of refined petroleum products, a costly and ironic feature of the oil-rich nation's economy. 22 Jul 2010 11:24

Game still in the pink of health

Game Stores has come a long way since it opened its first store in Durban in 1970 in cramped premises in the city's CBD, ringing up sales of R78 000 in its first month of trading. Its founders believed that shopping had become a tedious and boring pastime. They wanted to create a fun shopping environment and so conceptualised retailing as a game. The signature bright pink prevails to this day. 19 Jul 2010 08:43