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Mon, 20 May 2019
MTN Nigeria debuts with $6.5b listing in Nigeria Stock Exchange...

MTN Nigeria, owned by South Africa’s MTN Group, on Thursday listed in Nigerian Stock Exchange (NSE) in a N2 trillion ($6.54 billion) flotation.

The listing turns the telecoms company into the exchange’s second-largest stock by market value. MTN Nigeria’s shares climbed 10 percent from their listing price of 90 naira after the float went live.

“The telecoms space accounts for a little over 9 percent of GDP so bringing in the big companies in that space is very critical for us and MTN being the largest and the market leader, this is a major listing for us,” said CEO, Nigeria Stock Exchange, Oscar Onyema.

The listing is aimed at helping to settle rows with Nigerian authorities, over SIM cards and tax payments. MTN is still in the middle of a 2 billion dollar tax row with the country’s attorney general which the company says will delay a further sale of shares and a public offering.

According Reuters Financial Correspondent, Chijioke Ohuocha no set time has been given by MTN for the public offer.

“MTN agreed to this listing as part of a settlement to long-running disputes with the Nigerian government, which it has fulfilled today. With this particular listing, local investors and indeed international investors, will have the opportunity to buy into the telecoms story in Nigeria. MTN Group owns 78.8% of the Nigerian business,” Ohuocha added.

Nigeria accounts for a third of MTN’s group profit but it’s increasingly been one of its most problematic markets. There are over 52 million subscribers on the network in Nigeria.

Source: https://www.africanews.com/2019/05/17/mtn-nigeria-debuts-with-65b-listing-in-nigeria-stock-exchange/

 

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Wed, 15 May 2019
€55-million five-star hotel launches in Johannesburg

The R880m (€55m) Houghton Hotel launched in Johannesburg on May 13, bringing another five-star* luxury brand to South Africa.

The property is a synergy of residential and hotel accommodation, situated in the heart of the city, but offering privacy that feels far removed from the busyness of urban Johannesburg.

The hotel offers seven luxury penthouses, four presidential suites, two junior suites, eight executive king rooms, and 46 king rooms. All rooms have Apple and cable TV, extended breakfast, complimentary WiFi and newspapers, with 24-hour in-room dining. Facilities at The Houghton include a business and day lounge, four private dining rooms, a whisky lounge and international Nova deli; four heated pools, a FitBar gym, and flagship Amani Spa with nine treatment rooms.

In keeping with the medical tourism movement, the hotel also has a medical centre on site, with Medical Suites and world-class specialists and practitioners to provide medical tourists with a one-of-a-kind remedial experience. Practitioners include, amongst others, a plastic surgeon, physiotherapist, GP and pharmacy.

The hotel also boasts an 18-hole Jack Nicklaus Signature Golf Course, and an 8km Parkland running track.

Situated 5km from the business and retail meccas of Sandton and Rosebank, The Houghton Hotel is a 30- to 40-minute drive from OR Tambo International Airport.

Arnold Forman, CEO of The Houghton Hotel, says: “Whether you are an international traveller, spending quality time with your family or staying at the hotel for your business travels – the Houghton Hotel has something for everyone. For instance, our business guests have access to a fully equipped business centre and day lounge, very similar to the airport lounges, with eating and shower facilities. And each of our boardrooms has a dedicated personal assistant.”

* Please note: Grading status of the hotel was not verified by the TGCSA at time of publishing.

SOURCE: http://www.tourismupdate.co.za/article/191468/55-million-five-star-hotel-launches-in-Johannesburg

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Mon, 13 May 2019
Global power management firm charts a path towards sustainable power for Af...

CAPE TOWN – Microgrid energy systems that incorporate energy storage and renewable energy can be effectively used to address Africa’s challenges of energy access, resiliency, and cost, global power management company Eaton Africa said on Friday.

Eaton Africa said it would be highlighting its drive to provide reliable and sustainable electricity access for all during the upcoming African Utility Week conference, taking place at the Cape Town International Convention Centre (CTICC) from May 14 -16.

“Our key objective is to enable broad access to energy-efficient solutions to Africa that help consumers manage power in a safe, cost-efficient and sustainable manner,” said Seydou Kane, Eaton South Africa’s managing director.

Kane will join other executives within the power and energy sector for the Utility CEO Forum, in which they will discuss utilities’ operational challenges, particularly in a fast-developing market.

The nineteenth edition of African Utility Week and POWERGEN Africa is the continent’s leading conference and exhibition in the sector. It is expected to attract more than 10,000 senior level executives, 300 renowned speakers, 350 exhibitors, and 77 utilities and municipalities. South Africa’s Energy Minister Jeff Radebe is due to deliver the opening keynote address at the conference.

Eaton’s senior application leader in microgrid energy systems, Bunty Kiremire said: “Innovations in energy storage and microgrid technology that incorporate renewables are especially important to Africa, where energy access levels average 42 percent, with some countries having access rates as low as 15 percent of the overall population.”

Most commercial, industrial and residential customers who do have access to energy still face issues with respect to the availability and resilience of power, he added.

Source: https://www.iol.co.za/business-report/energy/global-power-management-firm-charts-a-path-towards-sustainable-power-for-africa-22976515

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