GE still positioning for Nigeria with USD10b investment
General Electric (GE), a 123-year old American Conglomerate with operations in 130 countries around the world, is gearing up to further exploit the economic potentials inherent in sub-Saharan African markets, especially Nigeria and Ethiopia. At the ongoing World Economic Forum (WEF) on Africa, GE said it would increase its capital outlay to US$10 billion over the next five years.
Value added tax (VAT) in Nigeria (II)
All goods and services are ‘VATable’, except those that are exempted under schedule 1 of the Act. These are: Goods Exempted All medical and pharmaceutical products, Basic food items, Books and educational materials, Baby products, Fertilizer, locally produced agricultural and veterinary medicine, farming machinery, and farming transportation equipment All exports Plant and machinery imported for […]
Unilever set to raise equity stake as offer extends to June 25
Unilever Overseas Holdings B.V. has indicated interest in increasing its equity stake in Unilever Nigeria Plc from 50.04 per cent up to a maximum of 75 per cent and has made a tender offer to individual shareholders of Unilever Nigeria.
Ethiopia topples Nigeria on foreign investment destination list in Africa
Nigeria may be in for tougher times as foreign investors are beginning to shift their attention to Ethiopia as a preferred investment decision.
FAO Food Price Index falls to its lowest value since September 2009
Major food commodity prices declined again in May, hitting an almost six-year low as cereal prices fell substantially amid a favourable outlook for this year’s harvests.
Banks shun loan proposals for vessel acquisition
THE crisis presently rocking the Nigerian Ship-owners Association, (NISA) last week, took a new dimension as banks participating in the ship acquisition scheme have shunned and stopped processing loan applications for vessel acquisition by local ship operators planning to acquire ships to boost their fleet.
