Business News in Brief

Afren Foresees 29% Growth in Oil Reserves

Afren Plc, a United Kingdom-based oil and gas company focused on West Africa and Iraq, plans to expand its reserves by 29% after increasing its stake in a Nigerian explorer.

The company was quoted to have said in a statement that it anticipated proven and probable reserves to climb to 270 million barrels of oil equivalent from 210 million barrels.

Oando Changes Business Strategy

Oando Marketing Plc has made a new addition to its growing network of 600 stations nationwide with the opening of another mega station at Berger, along the Lagos-Ibadan Expressway.

Other mega stations owned by the company are in Marina, Maryland, and Lekki in Lagos as well as another in Abuja. The company said in a recent statement that the station, which formally opened its gates to motorists recently, offers customers a modern and friendly environment that will engender delivery of optimal services.

Glo Unveils New Strapline

To mark its 10th anniversary on August 29, 2013, Globacom, has unveiled a new strapline to reaffirm its brand promise to consumers.

Aptly tagged, ‘Unlimited,’ the new strapline encapsulates Glo’s commitment to enabling the subscribers achieve their dreams and desires.

Speaking at the launch of the logo, Globacom’s Group Chief Operating Officer, Mohamed Jameel, said the new pay-off line marks a progression in the growth of the Glo brand identity and represents the unparalleled commitment of the company to its subscribers.

LCCI to Provide Training for Entrepreneurs

The Lagos Chamber of Commerce and Industry (LCCI) has commenced a systematic and qualitative training programme for established and budding entrepreneurs who wish to develop their businesses and add value to services provided for their clients. This is in addition to its mandate of public advocacy, research, arbitration and trade promotion.

Schneider Introduces Energy Certification Programme

Schneider Electric has launched a new online Professional Energy Manager (PEM) certification for its popular online, vendor-neutral Energy University programme.

This exclusive programme, developed with the acclaimed Institute of Energy Professionals (IEP), offers energy-focused individuals worldwide an exciting new option for earning a highly marketable and respected credential in the growing field of energy management.

NCC Crashes Voice Tariffs

The Nigerian Communications Commission (NCC) recently announced a new mobile termination rates (MTRs) also known as interconnection rate for voice services in the telecommunication sector.

The Director of Public Affairs, NCC, Tony Ojobo, in a statement, said the new MTRs which have been significantly reviewed downwards were informed by the depth of competition in the industry while taken into consideration the position of new entrants. He added that the new rates, which take effect from 1st April and will last for the next three years, will significantly favour subscribers.

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.