The recent move by Shoprite Holdings Ltd of South Africa to close another shop in Tanzania is sending shivers among customers and workers across the country.

Oceanic Bank International Plc and the leading Automobile manufacturer, Tata Africa Services Nigeria Limited have expressed their readiness to work together to build the Nigerian economy through empowering the youths.

Skye Bank Plc has disclosed that it would soon commence disbursement about N350 million disengaged package for ex-staff of one of its legacy banks, Co-operative Bank Plc, who were disengaged shortly after the Soludo banking consolidation exercise.

In a bid to help improve on standard of living, Dansa Foods has started a poverty alleviation campaign to support communities by empowering people to begin a small scale business as away of reducing poverty in the nation.

After four weeks, the Cola market will witness new packaging for Coke, as the Nigerian Bottling Company (NBC), bottlers of Coca-Cola brands unveiled a new ultra glass bottles for Coca cola. The multinational beverage bottler introduced the bottles to dealers

Euro Global Foods and Distilleries Limited, a subsidiary of Sona Group, has announced its determination to set up a greenfield distillery that will help boost its productive ability and promote the sale of its products across the country.

MTN Nigeria, last week, entered the submarine cable competition going on in Nigeria today, joining ten other countries of the world in an agreement that would usher in West African Cable Systems, WACS.

Law Union & Rock Insurance has continued to demonstrate its resilience in the face of the ongoing economic downturn by growing its pre-tax profit to N345.4 million as revealed by the company's unaudited third quarter result for the period ended

First Securities Discount House Limited (FSDH) said in Lagos that it has recorded a profit before tax of N4.322 billion, about 58 per cent higher than N2.738 billion earned in the second quarter of the company's financial year ended June

The first set of 15 millionaires have emerged from the on-going Save and Smile Promo organized by Fidelity Bank Plc.

AIG Uganda is to change its name to Chartis, effective November 1. The development comes after AIU Holdings, the mother company of AIG Uganda, announced in July it would re-brand its worldwide operations to Chartis.

LOADERS of Krystal Line Salt Company in Malaba, Kenya have called off a two-day strike after the firm agreed to hike their wages. Nathaniel Muchemi, the company's manager for Malaba, said they had hiked the payments to Ksh60, up from

The Constituent General Assembly of Zitouna Bank, was held on Wednesday in Tunis. The assembly discussed the final approval of the launch of the bank and the appointment of new directors and auditors.

At least 40,000 Eagle Insurance Company policy holders in Botswana risk being defrauded after a compact disc containing their personal details went missing in South Africa.

Hope seems to have returned for shareholders of Nigerian Wire Industries Plc (NIWIL) as the company has announced a N10.1 million profit in its half year financial statement released to the investing community, last week.

MTN Uganda has secured a $100 million syndicated corporate financing facility from 11 local and regional banks in a major credit deal.

Zain Kenya intends to roll out the third generation network 3G by the first half of next year to enhance it data business and make it more competitive in this market segment.

Athi River Mining Ltd (ARM) will consolidate its divisions into two wholly owned subsidiaries as it moves to focus on its core business as a cement maker.

Oceanic Insurance Group has said it remains committed to providing formidable insurance protection to its clients in all classes of insurance, even as its unaudited results show claims payment totaling N251 million as at July 31, 2009.The firm's managing director,

Despite unsettling financial problems facing it, Nexim Bank has granted loans of about N16 billion to individuals and private companies as well as create 20,000 jobs.