Search Results for: Nigeria

A SALUTARY lesson learnt by the western world since the financial meltdown in 2008, is that there is no easy formula for ensuring economic growth. Despite the resilience of the United States and European institutions, markets and skills, restarting the economic engine has proved sluggish.…

INDIAN consumer product company Godrej has been pushing into Africa’s hair care market with four acquisitions in the last five years, putting it in a strategic position to compete with major western companies.

Selling hair colourants, hair extensions and soaps in Africa through brands such as Inecto, Renew, Tura and Darling, Godrej is banking on Africa’s fast growing demand for cosmetics and other personal care products and is moving towards becoming an established multinational.…

*Gazprom International is one of the world’s largest energy companies, handling oil and gas geological exploration, production, transportation and storage; processing and selling oil, gas and oil and gas-based liquid fuels; while providing heat and electric power services.
*The state-owned company holds the world’s largest natural gas reserves: 18% and 72% of global and Russian reserves respectively.…

ISLAMIC banks are big business in the Middle East and Southeast Asia, but not thus far in sub-Saharan Africa. The World Bank’s International Finance Corporation (IFC), however, recently took a USD5 million, 15% equity stake in Kenya’s Gulf African Bank (GAB) to support corporate finance and lending to small and medium businesses – its first in the sub-Saharan Islamic bank sector.…

The vice-chancellor of Cameroon’s English-speaking University of Buea (UB) has declared she is determined to soothe tensions on her campus which have led to a series of violent strikes by students. Buea is one of two public English-speaking universities in majority-Francophone Cameroon.…

BIOMETRICS technologies producing voice and phone ‘fingerprints’ to prevent, detect and prosecute fraud and other crimes are evolving rapidly in an arms race between fraudsters, law enforcement, private companies and private sector anti-fraud companies.

For forensics, many jurisdictions admit voice biometrics in evidence.…

Although proper accounting is important for developing and emerging economies – for instance, informational transparency decreases transactional costs – obstacles remain, said Evgeny Buben, Gazprom Nigeria’s CFO: “There’s a lack of political will to start the process of harmonisation and control implementation; a lack of  professionals capable of performing proper implementation; resistance from local accounting bodies and other local influential groups; resistance of local accountants and auditors to changes.”…

EUROPEAN Union (EU) heads of states and governments have urged their ministers to agree important pieces of draft EU legislation that could potentially curb tax evasion in the bloc.

Meeting during a European Council meeting in Brussels last week (May 22), leaders were under pressure to act from media reports revealing how much untaxed incomes politicians, companies and rich business owners have stashed in tax havens.…

EXPERTS representing accounting bodies from around the world urged accountants in Africa to help reduce corruption and mismanagement in their governments through effective bookkeeping and auditing, as the continent moves towards sustainable growth. The 2^nd Africa Congress of Accountants (ACOA) gathered in Accra, the capital of Ghana, from May 14-16.…

AFTER years of promises, the Ghanaian government, with some help from Brazil, is ready to make good on its pledge to equip Ghana with a second international airport. Construction under the government’s USD174 million plan to upgrade Tamale Airport, in northern Ghana, to enable it to better handle the international traffic for which it was designated in 2008, should begin this summer, according to Bernard Nyavor, the passengers director of Ghana’s Kotoka International Airport (KIA), in the capital Accra.…