Search Results for: Nigeria

While many economies in Africa are growing fast, there is a consensus amongst accountants that the continent has to build its business reporting and administration to make sure this growth is sustainable. Indeed, the third African Congress of Accountants (ACOA), staged in Port Louis, Mauritius, from May 11 to 14, heard that this essential work is needed now, even as some countries remain marred by severe socio-political unrest, economic instability, poverty, famine and disease.…

TO discover the best intelligence on money laundering, sometimes it is best just to ask the money launderers. Take China. There are numerous ways of getting dirty money out of China. The most common include smuggling a satchel of banknotes to Hong Kong (where Chinese Yuan Renminbi (CNY) is convertible), where it is washed through an over-priced (for quick transaction) purchase of real estate in the city, several Hong Kong real estate agents told the Money Laundering Bulletin.…

THE EUROPEAN Commission may block or impose conditions on a planned acquisition by US-based Cargill of the industrial chocolate business of its American rival Archer Daniels Midland (ADM). The European Union (EU) executive’s directorate general for competition has opened an in-depth investigation into the deal, to assess whether it could damage the availability of reasonably priced supplies of this key confectionery input.…

Kenya is the third largest market for industrial paints and coatings in sub-Saharan Africa, ranking behind South Africa and Nigeria, according to regional analysis conducted by market researchers Frost & Sullivan.
According to their report, released last May (2014), the three countries are projected to have a joint market volume of over 140 million litres for industrial paints and coatings by 2017.…

Nigeria maybe troubled politically, but it remains a potentially lucrative market for industrial paints and coatings manufacturers. As with Kenya and South Africa, the country is undergoing rapid infrastructure developments creating demand for paints and coatings.
As this is oil-rich Nigeria, the focus of this action remains its fossil fuel pipelines, floating production storage and offloading (FPSO) vessels, offshore platforms, buoys, tanks, and refineries: “New projects announced in the oil and gas sector and allied industries in Nigeria are fuelling the demand for industrial paints and coatings products,” said Frost & Sullivan’s chemicals, materials & food industry analyst, Anthony Lawrence, in analysis released last year.…

Africa is emerging as a viable, even strong, sourcing alternative to Asia, but Africa still needs to learn significant lessons from its rival on establishing a strong sourcing hub, say industry experts.

For instance, sub-Saharan suppliers should note how Asia’s garment and textile industry is well-coordinated and integrated regionally, with strong inter-country links.…

The emergence of synthetic fuels continues to raise hopes that low-carbon alternatives to fossil fuels will be developed, offering the prospect of long-term sustainable production. And with synthetic liquid fuel and synthetic gas chemical composition reflecting fossil fuels’ conversion of hydrogen and atmospheric CO2 into methane, experts are openly enthused about their avoidance of intermittency associated with renewable energy.…

INDIA’S Godrej Consumer Products Ltd has acquired another hair care business in Africa, buying a 100% equity stake in South African hair extensions specialist Frika Hair (Pty) Ltd.

According to a Godrej communiqué, Frika has a strong wholesale distribution capacity for it hair extension products that include braids, synthetic weaves, human hair weaves, wigs and hair-pieces.…

Turkey’s rapidly growing nonwovens industry is a rising star that everyone should be paying attention to. This was the general consensus at the second Turkish Nonwovens Symposium in Istanbul on November 10-11, held by EDANA, the leading global association of nonwovens and related industries.…

Increasing efforts are being made across the cocoa supply chain in globally important producer Ghana to ensure its industry operates ethically and sustainably. Total Ghanaian cocoa production for the 2013/14 season was forecast to be around 830,000 tonnes, according to a report by the Oxford Business Group, which noted that 835,000 tonnes of cocoa were harvested in Ghana during the 2012/13 season, representing around 21% of the global total.…