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Debt-laden balance sheet compounds Shoprite woes

It’s never a good time to have a debt-laden balance sheet. But August 2019 was probably the worst time in Shoprite’s 40-year history to reveal a disturbing increase in borrowings.

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Nigeria, others target VAT from $1tr infrastructure investment

Nigeria and other African countries are targeting Value Added Tax (VAT) revenue from the over $1 trillion infrastructure investment coming into the continent.

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Franchising must be professionalised to protect the public

Franchising should be professionalised in order to protect the public, according to trade association representing franchisers and franchisees says the The Franchise Association of SA (Fasa).

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Demand for Nigeria’s luxury real estate dips

The Nigeria’s luxury real estate market has taken a beating lately due to several fundamentals, which include stricter government regulations and economic factors.

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Safari says investors are unlikely to approve Comprop takeover bid

Safari Investments, which walked away from a potential merger with Fairvest earlier in August, says shareholders are also unlikely to approve a better takeover offer from Comprop. Comprop, an unlisted group, offered to buy Safari outright for R1.8bn in July.

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Nabdam Assembly invests “$1 million per constituency” in Sanitation

he Nabdam District Assembly has invested its share of the one million dollars per constituency into the provision of six 10-seater water closet toilet facilities at strategic points in the area to provide places of convenience for the people.

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US mulls construction supply boost with $5bn LNG loan to Mozambique

Taking a page out of China’s foreign development strategy, the US Export-Import Bank (Exim) is considering a $5bn loan to help build a large liquefied natural gas (LNG) plant in northern Mozambique, saying it would support 16,400 American jobs by guaranteeing orders for goods and construction services.

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Investors trade N1.2trn worth of Nigerian stocks in 7 months

In seven months to July 31, 2019, investors traded about N1.201trillion worth of Nigerian equities. This represents a huge decline of about 31percent year-on-year (YoY) when compared with N1.743trillion recorded in the corresponding seven months period of 2018.

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Infrastructural development project launched in Olkalau, Kenya

An urban infrastructural development project has been launched in Olkalau town for the improvement of the basic physical and organizational structures and facilities in the capital of Nyandarua County, Kenya.

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Government reviewing contract for sky train project

Government has begun a review of the contract for the construction of the sky train project as a means of transport. According to Minister for Railway Development, Joe Ghartey, development in Ghana’s transportation system requires such an innovation, adding a decision could be made before December this year.

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