Company News

Windhoek — FNB Namibia is supporting the upcoming TEDx Unam with an amount of N$50,000. The event will take place on Saturday, September 30 at the University of Namibia Health Sciences Campus (School of Medicine/Pharmacy).

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.