Cape Town based Silvertree Capital (www.silvertree-capital.com), an Africa-focused business builder and venture capital investor, has invested in two of Nigeria’s largest e-commerce sites, Sunglasses.com.ng and Glamour.com.ng., according to a press release by Silvertree. Both of these leading e-commerce sites offer a broad range of top consumer brands to the burgeoning online shopping market and have [...]
A Federal High Court sitting in Lagos has adjourned till 30 September, 2013 criminal charges of stealing about N144 million preferred against Chief Elder Ita O. Ette, the former General Manager of Cooperative Development Bank Plc. The adjournment was necessitated by the absence of the accused, who was supposed to be arraigned Monday. In an [...]
A Federal High Court sitting in Lagos, southwest Nigeria, on Monday, awarded Maevis Nigeria Limited the sum of N5 billion and set aside the concession agreement signed between the Federal Airports Authority of Nigeria, FAAN and SITA. Despite a court injunction, FAAN last year cancelled the concession agreement it had with Maevis Nigeria Limited and [...]
With rainfall patterns changing and food growing region getting drier, an Australia climate agency warned today that most fossil fuels must remain in the ground because burning them will unleash changes that will “challenge the existence of our society”. Australia’s Climate Commission study found that the burning of fossil fuels such as coal, a key [...]
Nigeria’s authorities have grounded a Ukrainian cargo plane suspected to be carrying military hardware at the Malam Aminu Kano International Airport. According to agency reports, the cargo plane landed at the airport on Saturday night and was immediately grounded by the military authorities who could not confirm the actual destination or owners of the cargo. [...]
Angola announced Sunday it has started producing and exporting liquefied natural gas (LNG), with a first shipment departing from the northwestern Soyo fields to Brazil. “Angola LNG is entering the market at an exciting time,” said Artur Pereira, the spokesman for Angola LNG. Transaction details about the 160,000 m3 shipment were not revealed, but the [...]
Ayo Oluokun/Abuja Fastjet plc (fastjet), Africa’s lowcost airline, has signed a Memorandum of Understanding (MoU) with Nigeria’s Red1AirwaysLtd(Red 1), to create a low cost airline operating within Nigeria and to destinations across Africa. The MoU brings together fastjet’s strong brand, reputation, management experience and economies of scale and RED1’s extensive local market knowledge within Nigeria. [...]
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