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Mr. Tony Elumelu, Chairman, Heirs Holdings and Founder Tony Elumelu Foundation has called on the United States Congress to pass the ‘Electrify Africa Act’ stating that the passage in to law would make a world of difference in Africa.

Founder of Leap Africa, Mrs. Ndidi Nwuneli has been named as the Keynote Speaker of January 9 Collective 4th Anniversary lecture scheduled for Tuesday, January 12th, 2015 at the MUSON Centre, Onikan, Lagos. Nwuneli, who is co-Founder of AACE Food Processing & Distribution, an indigenous agro processing company will be speaking on the theme: “SMEs the engine room of the economy; who’s talking to them?” According to Mr. Wole Olagundoye, the Chairman, Anniversary Committee, “Every year, we celebrate our anniversary with various activities, the high point of which is our annual lecture during which we debate and proffer solutions to burning topical issues affecting our nation. This year, rebuilding our economy is one of the federal government’s priorities hence we are focusing on SMEs, being the major driver of true economic growth” He stated that apart from Nwuneli, Kunle Sonola, Executive Director, Union Bank will deliver a speech as Special Guest while Bunmi Lawson, MD Acci...

   LAGOS, NIGERIA -   January 1, 2016   - Budding entrepreneurs across Africa can now apply to join the second annual Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa. The Tony Elumelu Entrepreneurship Programme application portal opens for entries today,  January 1, 2016  and will accept applications until  Midnight  WAT on  March 1, 2016 .  To apply, entrepreneurs must complete the online application form on the web portal  here Successful applicants who complete the programme will receive

 By Gistmaster, E-commerce Billionaire,Jack  Ma is buying the South China Newspaper.It would be recalled that fellow ecommerce billionaire,Jeff Bezos of Amazon also bought Washington Post in 2013 for $250 Million. Techcrunch wrote that Alibaba has jumped into the news business after the Chinese company confirmed on Friday that it has agreed to acquire the South China Morning Post (SCMP) following weeks of rumors. The Hong Kong-based newspaper and SCMP Group’s other assets, which includes local editions of Esquire and Elle, will cost Alibaba a little over HK$2 billion — around US$262 million — according to a regulatory filing. Alibaba didn’t disclose the cost of the deal when

The federal government has raised the alarm over continuous sabotage of its economic policies by local business conglomerate, BUA group.   The regulatory body charged by the federal government to see to the transformation of the sugar industry in the country from one dependent on massive importation to an integrated producer of the essential commodity, the National Sugar Development Council (NSDC), which made the claim, said some companies especially BUA had flouted the terms and conditions for obtaining a three-year low tariffs for sugar importation into the country.  The Executive Secretary of the council, Dr. Abdullatif Demola Busari, said in January 2013, that the federal government approved concessionary low tariffs of 5 per cent duty and 5 per cent levy for raw sugar imports for three companies including the BUA Group as against the 5 per cent duty and 70 per cent levy contained in the National Sugar Policy.  The Executive Secretary said though the high tar...

Seyi Shay the new Pepsi Ambassador is here! Last night global beverage brand Pepsi announced on their instagram page that Seyi Shay will be joining their star studded line up of brand ambassadors in Nigeria, this makes her the face of one of the biggest beverage brands in the world.

Nigeria's leading brewer, Nigerian Breweries Plc rewarded distinguished journalists at the 7 th  edition of the Nigerian Breweries Golden Pen Award on Friday October 30 2015 at Oriental hotel. Anthony Akaeze, a Senior Assistant Editor with  Tell  magazine emerged the Nigerian Breweries Golden Pen Reporter of the Year. Anthony’s work, “The ivory towers of rot”, an investigative piece on the infrastructural, social and moral

Ibrahim Larmode has been removed as Chairman of Economic and Financial Commission.Those who have been following the trend of events in the anti-graft agency knew it was only a matter of time before President Mohammadu Buhari sacks

Phuthuma Nhleko JOHANNESBURG  The CEO of Africa's biggest telecommunications company resigned on Monday because of a $5.2 billion fine meted out to from MTN Group's Nigerian subsidiary. Sifiso Dabengwa was quoted in a company statement as saying he resigned "due to the most unfortunate prevailing circumstances occurring at MTN Nigeria." Former group president Phuthuma Nhleko will act in

By Niyi Tabiti Back in the days, Union Bank pay off "Big, Strong,Reliable" was very exciting to the ears.The adverts was shown regularly on television with the logo of a horse.Union bank was always on the top five best banks in Nigeria.    However, Gistmaster findings show that Union bank management forgot to consolidate on the achievement of the

LEAP (Leadership, Effectiveness, Accountability and Professionalism) Africa, a leading nonprofit organisation in Nigeria will announce emerging social innovators finalists at the Social Innovators Programme and Awards ( SIPA) 2015 in Abuja on November 12, 2015 themed Rage for Change: Creating Impact . According to Iyadunni Olubode, Executive Director, LEAP Africa, ‘ Social innovation is

After publishing the news of Financial council suspension of IBTC directors,Gistmaster got a message from the bank stating their own side of the story. Our attention has been drawn to the media statements by the Financial Reporting Council of Nigeria (FRCN) in which several inaccurate and unseemly allegations were made against Stanbic IBTC Holdings PLC (“Stanbic IBTC”). Although the matter is in court, we are

The Financial Reporting Council of Nigeria has suspended the Chairman of Stanbic IBTC Bank Plc, Atedo Peterside; its Managing Director, Sola David-Borha; and two staff of KPMG, Arthur Oginga and Dr. Daru Owei, over accounting irregularities and improper disclosures in Stanbic IBTC’s 2013 and 2014 financial statements. The FRC in a statement on Monday, said Peterside, David-Borha and the KPMG staff remain suspended until the conclusion of investigation into the

  Jumia just sacked about 300 staff and that is really no good news to many people who have been following the trend in e-commerce business in Nigeria. Rocket Internet the major investor behind Jumia have not issued a statement on the future of it business in Nigeria.   But Gistmaster gathered that Jumia's office in Zambia is shut and out of business.Felicia Omari-Ochelle, writing for Venture Africa noted that despite the huge investor fund,Jumia is yet to declare profit in Nigeria.    If Jumia sacks 30 per cent of it workforce in Nigeria. What does that mean? Do i hear you say Konga, it major competitor led by Sim Shagaya is winning? Well, Konga carried out it own mass sack in the past.

Pan-African financial services group, United Bank for Africa (UBA) Plc, yesterday, released its 9 months unaudited financial results for 2015 showing a strong 44% rise in profit after tax to N48.6 billion and a 17% rise in gross earnings to N247.2 billion.  The third quarter results also show Net Operating Income (NOI) recorded a strong 21% growth to N167.4 billion.   The cost to income ratio remained within management's

The Nigerian Stock Exchange’s efforts to at promoting corporate social responsibility and sustainability received boost recently when the bourse was honored with the Best Corporate Social Responsibility Company Award in New York, United States at the African Business Awards.  The African Business Awards, launched in 2008 by African Business magazine, is designed to celebrate excellence in African businesses, by recognizing the individuals and companies that are driving Africa’s rapidly transforming economy and creating new socio-economic opportunities for citizens and communities all over the continent.   The Managing Director of IC Publications and Group Publisher of African Business magazine, Mr. Omar Ben Yedder said “It is encouraging

Head Marketing and Corporate Communications, UBA Plc, Mr. Charles Aigbe in warm handshake with Legendary Hollywood actor, Actor, Danny Glover at the World conference organised for the Unveiling of the  cast of 93 Days movie Pan African banking and financial services group United Bank for Africa (Plc) has restated its commitment to the growth and development of the African movie industry by supporting the

Adeduntan FBN Holdings Plc,  the leading and most diversified financial services group in Nigeria,  today announced major changes to its leadership team, effective  January 1 2016 . Mr. Bello Maccido, pioneer Group CEO, FBN Holdings, is leaving his position to become pioneer Chairman of the newly-licenced FBN Merchant Bank Ltd, while Mr. UK Eke (MFR), currently

As the summer months wane, do you find yourself disgruntled about your current job, but wondering where you’ll find the time to hunt for a new one during the inevitable fall busy season that plagues most industries? You’re not alone.

    Following the introduction of the post-UTME into tertiary institutions in Nigeria, most schools have been making good money off admission seekers. A statement issued the public relations officer of Obafemi Awolowo University,Ile Ife (OAU) shows that no fewer than 27,000