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  • Axia Corporation reported a six percent increase in after tax profit to $15,3 million in the year ended June from $14,5 million last year on increased revenue.

  • A Chinese-based firm has expressed its interest in the buyback of the SAMIR oil refinery. While the proposed amount was deemed insufficient Moroccan oil company, a site visit was scheduled and a proper proposal is pending approval.

  • Blantyre — Electricity Supply Corporation of Malawi (ESCOM) says it is in the process of doubling its transmission capacity to over 140 megawatts come December, 2018.

  • BANCABC has set aside $16 million for the 2017 /2018 sugarcane production season in the Lowveld, as the financial services group consolidates its presence in this previously under-serviced but critical sector.

  • Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change.

  • Kampala — Telecom service provider, Airtel Uganda, ended the 2016 financial year with 85.6% growth in net profit to Shs 160.45bn on the back of improved uptake of mobile money, value added services and data.

  • Loyalty Insurance Company Limited, a non-life insurer, has been urged to operate within the confines of the law and adopt best corporate governance practices.

  • The gold mining companies contributed GH¢1.6 billion cedis in direct taxes to the Ghana Revenue Authority (GRA), last year, representing 15.8 per cent of the total revenue collected.

  • African Chrome Fields (ACF) is set to commission a $15 million state-of-the-art aluminothermic plant to process chrome fines into ferrochrome by February next year, a company official said yesterday.

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