Business News in Brief

Diamond Bank Boosts Entrepreneurship Programme

As part of its commitment to micro, small and medium scale enterprises (MSMEs) in the country, Diamond Bank Plc and the Enterprise Development Centre (EDC) have launched the third series of the bank’s BET (Building Entrepreneurs) programme.

The event which took place in Lagos recently was designed to empower young and old entrepreneurs in their respective businesses. Its major aim is to support, educate and encourage SME operators through an entry via its website.

According to the bank, selected candidates would be shortlisted for training and education.

Arik, Emirates Sign Lease Agreement

Arik Air, a national carrier, and Emirate Touch Aviation Services Limited have signed a lease agreement for the airlines’ two Boeing 737-300 aircraft.

The Aircraft, Crew, Maintenance and Insurance (ACMI) agreement was signed in Lagos recently by the Chairman of Arik Air, Sir Joseph Arumemi-Ikhide and Director-General, Emirate Touch Aviation Services, Prince Isa Bayero.

Under the terms of the agreement, Arik Air is leasing its two B737-300 aircraft (5N-MJA and 5N-MJB) to Emirate Aviation Services for cargo operations.

Diageo Africa Business Reporting Marks 10th-year Anniversary

The Diageo Africa Business Reporting awards will be celebrating 10 years anniversary of the ceremony this year and will once again showcase the most influential and innovative journalism from and about Africa.

The finalists for the awards will be announced on Tuesday 7th May 2013 while the awards ceremony will be held in Central London on Thursday, 11th July 2012.

The awards recognise the achievements of business journalists reporting on the continent and provide a prestigious forum for international recognition of their work.

Stanbic IBTC’s Cards Get Global Security Endorsement

Stanbic IBTC’s card payment services have been certified compliant with the Payment Cards Industry Data Security Standards (PCI DSS) by the PCI Security Standards Council, a global body charged with ensuring the security of card payment services.

This implies that Stanbic IBTC’s card payment solutions, its debit and credit card services, have met the highest standard of security of customers’ information and transactions on its e-banking platform, which greatly lowers the risk of system compromise.

Dangote Sponsors 15 Young Global Leaders

Six Nigerians and nine other Africans are among 199 honourees who have been selected for the 2013 Young Global Leaders Award of the World Economic Forum (WEF) instituted by The Dangote Fellowship.

Of the 15 honourees, eight have been adjudged eligible for Young Global Leaders (YGL) Dangote Fellowship, a fellowship that gives them the opportunity of being sponsored fully to regional and global events being organised by the WEF.

Microsoft Designs $12b Package for SMEs in Africa

Microsoft Corporation has unveiled plans to spend $12 billion on a special package for Nigeria and other African markets in the next three years.

The package is expected to be designed for markets in the continent in order to empower youths and provide a lifeline for one million Small and Medium Enterprises.

To this end, Microsoft has launched its Microsoft 4Afrika Initiative to aid the attainment of the set objectives, and to help the continent’s businesses boost their global competitiveness.

Lagos to Get Cable Car By 2015

A cable car company, Ropeways Transport Limited, is set to launch a cable car mass urban transit system in Lagos, the nation’s commercial capital.

This followed the signing of a 30-year franchise agreement between Ropeways Transport Limited, the Lagos Metropolitan Area Transport Authority (LAMATA) and the Lagos State government recently.

Conoil Intensifies Export of Lubricants

The drive of Conoil, the first indigenous oil marketing company in Nigeria and a petroleum product manufacturing company, to export its lubricant brands to the West coast got a major boost recently when the company was admitted into the ECOWAS Trade Liberalization Scheme.

Its admission into the scheme would afford the company the opportunity to export its high grade, proudly made in Nigeria motor engine oils to established markets in the sub-region duty free.

Flour Mills Completes ₦200m CSR Projects

As part of its social and economic responsibilities to its host community, Flour Mills of Nigeria Plc has concluded the last phase of its development project for its host community.

The company, through the commissioning of the rehabilitated United Christian Primary and Nursery school, Apapa, noted that it has committed ₦60 million in the promotion of educational and manpower development across the country.