₦airaland Forum

Elueme: Second missionary journey killed Mongol Park.. Wish him well

mbulela: Shanduka, MTN deal highlights SA scramble for solace in Nigeria market
THURSDAY, 29 NOVEMBER 2012 00:00 PATRICK ATUANYA & BEN UZOR JNR



South Africa strategic investment drive into Nigeria is continuing apace with the purchase of a further $335 million stake in MTN Nigeria by Shanduka Group, the investment holdings group controlled by Cyril Ramaphosa, businessman and chairman of JSE-listed mobile phone group MTN.



Analysts say it is an indication of the scramble among South Africa investors to seek solace, amid the European crisis, while at the same time increasing their intra Africa investment drive.

“The intra Africa investment drive is a strategic effort underlined by their competitive advantage,” Bismarck Rewane, CEO Financial Derivatives, told BusinessDay yesterday.

In the past few years, South African firms have been moving fast to tap into Nigeria’s huge consumer market.

Last week Rand Merchant Bank, South Africa’s second-largest financial company, got a license to operate as a merchant bank in Nigeria. The minimum capital base for merchant banks is N15 billion ($952m).

In September, Tiger Brands, another South African company in the foods business, bought 63 percent of Dangote Flour. The company has lately said it would raise its shareholding to 70 percent.

Rand Merchant Bank, in its 2012 report: Where to Invest in Africa, observed that Nigeria “has the most favourable macroeconomic backdrop for sumption spending growth.”

Nigeria’s population and pent up demand for goods and services makes investment case. From mobile phones (Nigeria’s is the largest), unbanked population (36 percent of SSA’s unbanked population are Nigerians)

The latest move by Shanduka Group Ltd whittled down Nigerian ownership of MTN Nigeria to about 18 percent.

MTN Nigeria, with over 45.6 million subscribers and an estimated market share of 48 percent, is the largest subsidiary of the MTN Group, Africa’s largest mobile network operator, and contributes about 30 percent of MTN group’s earnings.

Shanduka Group stake makes it the third largest shareholder in MTN Nigeria.

“Nigeria is the most populous country on the continent and is an important market from a consumer perspective,” said Shanduka Chief Executive Phuti Mahanyele.

The investment firm declined to say exactly how much it owns of the Nigerian unit, purchased from three private investors including private equity company African Capital Alliance.

BusinessDay analysis of the investment, however, shows Shanduka Group stake amounts to about 3.1 percent of MTN Nigeria, with the MTN Group valued at $36 billion and the Nigerian business alone valued at $10.8 billion.

The investment leaves the South African telecommunication company (MTN Group) with 78.8 percent ownership of MTN Nigeria, the second-largest shareholders are a group of Nigerian shareholders at 18 percent, while Shanduka Group has a 3.1 percent stake.

MTN Group in a 2007 private placement, sold a total of 43,024,602 “MTN Nigeria linked units” or shares at $24.56 per unit, intended to raise the Nigerian ownership of MTN Nigeria to 21.4 percent.

It was learnt that Standard Chartered alerted Shanduka Group to the opportunity and also helped finance the purchase through debt and equity.

But the deal according to the newspaper report, raises questions about corporate governance and a potential conflict of interest.

The concerns stem from Ramaphosa being the chairman of the MTN Group, of which MTN International is a subsidiary.

The $335m deal was Shanduka’s largest-ever investment outside of South Africa, its CEO Phuti Mahanyele said on Tuesday. She insisted that the deal was above board and that Ramaphosa was not directly involved in negotiating the deal.

“It was not an exclusive deal, but was put out into the open market,” Ms Mahanyele said. “The shareholding in MTN Nigeria is held by MTN International and (Ramaphosa) sits on the board of the (holding) group and was not involved (in the negotiations). “

A telecoms industry executive, who asked not be named, said it was difficult to imagine that Ramaphosa would not have been aware there were investors in MTN Nigeria who wanted to sell their stake. A corporate governance expert, who also asked not to be named, agreed that the deal raised questions.

“Shanduka should not be anywhere near MTN, end of story,” the second source said. “Ramaphosa should be aware of the conflict of interest.”

MTN Group on Tuesday refused to comment on the deal. The stake was purchased from three private investors.

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/48248-shanduka-mtn-deal-highlights-sa-scramble-for-solace-in-nigeria-market

mbulela: Shanduka, MTN deal highlights SA scramble for solace in Nigeria market
THURSDAY, 29 NOVEMBER 2012 00:00 PATRICK ATUANYA & BEN UZOR JNR



South Africa strategic investment drive into Nigeria is continuing apace with the purchase of a further $335 million stake in MTN Nigeria by Shanduka Group, the investment holdings group controlled by Cyril Ramaphosa, businessman and chairman of JSE-listed mobile phone group MTN.



Analysts say it is an indication of the scramble among South Africa investors to seek solace, amid the European crisis, while at the same time increasing their intra Africa investment drive.

“The intra Africa investment drive is a strategic effort underlined by their competitive advantage,” Bismarck Rewane, CEO Financial Derivatives, told BusinessDay yesterday.

In the past few years, South African firms have been moving fast to tap into Nigeria’s huge consumer market.

Last week Rand Merchant Bank, South Africa’s second-largest financial company, got a license to operate as a merchant bank in Nigeria. The minimum capital base for merchant banks is N15 billion ($952m).

In September, Tiger Brands, another South African company in the foods business, bought 63 percent of Dangote Flour. The company has lately said it would raise its shareholding to 70 percent.

Rand Merchant Bank, in its 2012 report: Where to Invest in Africa, observed that Nigeria “has the most favourable macroeconomic backdrop for sumption spending growth.”

Nigeria’s population and pent up demand for goods and services makes investment case. From mobile phones (Nigeria’s is the largest), unbanked population (36 percent of SSA’s unbanked population are Nigerians)

The latest move by Shanduka Group Ltd whittled down Nigerian ownership of MTN Nigeria to about 18 percent.

MTN Nigeria, with over 45.6 million subscribers and an estimated market share of 48 percent, is the largest subsidiary of the MTN Group, Africa’s largest mobile network operator, and contributes about 30 percent of MTN group’s earnings.

Shanduka Group stake makes it the third largest shareholder in MTN Nigeria.

“Nigeria is the most populous country on the continent and is an important market from a consumer perspective,” said Shanduka Chief Executive Phuti Mahanyele.

The investment firm declined to say exactly how much it owns of the Nigerian unit, purchased from three private investors including private equity company African Capital Alliance.

BusinessDay analysis of the investment, however, shows Shanduka Group stake amounts to about 3.1 percent of MTN Nigeria, with the MTN Group valued at $36 billion and the Nigerian business alone valued at $10.8 billion.

The investment leaves the South African telecommunication company (MTN Group) with 78.8 percent ownership of MTN Nigeria, the second-largest shareholders are a group of Nigerian shareholders at 18 percent, while Shanduka Group has a 3.1 percent stake.

MTN Group in a 2007 private placement, sold a total of 43,024,602 “MTN Nigeria linked units” or shares at $24.56 per unit, intended to raise the Nigerian ownership of MTN Nigeria to 21.4 percent.

It was learnt that Standard Chartered alerted Shanduka Group to the opportunity and also helped finance the purchase through debt and equity.

But the deal according to the newspaper report, raises questions about corporate governance and a potential conflict of interest.

The concerns stem from Ramaphosa being the chairman of the MTN Group, of which MTN International is a subsidiary.

The $335m deal was Shanduka’s largest-ever investment outside of South Africa, its CEO Phuti Mahanyele said on Tuesday. She insisted that the deal was above board and that Ramaphosa was not directly involved in negotiating the deal.

“It was not an exclusive deal, but was put out into the open market,” Ms Mahanyele said. “The shareholding in MTN Nigeria is held by MTN International and (Ramaphosa) sits on the board of the (holding) group and was not involved (in the negotiations). “

A telecoms industry executive, who asked not be named, said it was difficult to imagine that Ramaphosa would not have been aware there were investors in MTN Nigeria who wanted to sell their stake. A corporate governance expert, who also asked not to be named, agreed that the deal raised questions.

“Shanduka should not be anywhere near MTN, end of story,” the second source said. “Ramaphosa should be aware of the conflict of interest.”

MTN Group on Tuesday refused to comment on the deal. The stake was purchased from three private investors.

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/48248-shanduka-mtn-deal-highlights-sa-scramble-for-solace-in-nigeria-market

k2kay: GLOBACOM said over the weekend that the new Glo Bolt Internet modem has been loaded with spectacular free benefits including a free Glo SIM card; 500 MB of data once the SIM is registered and activated. The package will also have free monthly data for six months for new and existing data subscribers on the Glo network.

According to Glo, new and existing subscribers who subscribed to any of the pocket friendly plans such as Always Macro, Always Min, Always Max, the Silver, Gold or Platinum plans will get a 30 per cent instant bonus and 200 MB free data every month for six months. The free data will be automatically given to the subscriber as soon as he/she activates a plan of N1, 000 and above each month.

Globacom’s GM, Marketing, Ashutosh Tiwary, said that Glo Bolt thrives on “speed and performance and, with the service, the subscriber is always a winner because we recognise that speed is a driver of value”.

Tiwary said that Glo Bolt offers unparalleled value since the cost of the modem has been significantly reduced and bundled with a free SIM and 500 MB free data on activation. “Our innovative plan sharing and plan gifting capability will also make Glo Bolt the Internet service of choice in the market”, Tiwary added.

On the gifting feature, Tiwary said a Glo customer can now buy an Internet subscription and send it to friends, family members and loved ones as ‘gifts’. This feature is especially useful when the person buying the gift does not want to share his subscription with the intended recipient. The gift recipient will be notified of the gift via customized SMS from the sender. The sharing feature allows up to five Glo customers to share one data plan.

Also speaking on the subscription plans, Tiwary explained that the sharing feature offers the subscriber convenience and affordability by enabling him to share his internet subscription with his friends, family and loved ones instead of buying multiple subscriptions for each and every one of them.

“For instance, a customer with a wife and two kids can buy only one subscription plan and share with his three loved ones instead of buying four subscription plans. The beneficiaries will receive an SMS notifying them of the shared plan and how they can share the plan. The customer just needs to visit http://hsi.glo.com from his Glo line to access the new world-class self-care portal through which the customers can use all the new functionalities. Only Glo offers a Self Care Portal for its Data & BlackBerry customers,” he explained.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=106003:glo-offers-free-six-month-data-30-per-cent-bonus-on-new-internet-service-&catid=55:compulife&Itemid=391

Rocktation: No, God didn’t reveal himself to Lu Zhenghai in a vision. The man from Urumqi, China was simply afraid the rumors about the apocalypse happening in December of 2012 might be true, so he decided to follow Noah’s example and build an ark.

Scientists and researchers are going out of their way to assure people that December 21, 2012, the so-called Mayan end-date, will be just an ordinary date but many of them are simply not buying it. While some are travelling to the French village of Bugarach, said to be the only place that will survive the impending apocalypse, others are building their own survival equipment. Take Lu Zhenghai, from Urumqi, Xinjiang Uyghur Autonomous Region, who spent all his life savings of 1 million yuan ($160,500) on building his own ark, capable of keeping him safe in case of a disastrous flood. The vessel, designed by Lu himself, is 21.2 meters long, 15.5 meters wide, 5.6 meters high and displaces about 140 tons of water. It’s not much to look at, but Lu claims that once it’s finished, it will fulfill its purpose.

http://www.odditycentral.com/news/fearing-a-2012-apocalypse-man-tries-to-build-his-own-ark.html

Poor soul....you just have 23 days to finish that ark before the Dee day... Are you sure you will meet up cos base on the pix the flood may capture you........Ignorant Man.....

biafra kwenu: [color=#006600][/color]


My friend ur just ignorant and lacks common sense. SUPEB approved 33million for 12 classroom blocks to be built in 305 wards in Imo in 2012. The thieving guvnor just completed one out of 305 blocks after more than one year in office and idiots are clapping 4 him. Rogue Okorocha has destroyed Imo.

Ileke-IdI:
Ediot, what has Fashola got to do with me?

Only impoverished fools like you rejoice at such an underdeveloped ghetto backyard passed off as a school.

Ileke-IdI:
Ediot, what has Fashola got to do with me?

Only impoverished fools like you rejoice at such an underdeveloped ghetto backyard passed off as a school.

Demdem: Nothing in the topic suggests that they are in-progress. It didnt even suggest that the governor hasnt even started either. The opening post has no such thing, just pictures.

Ileke-IdI:
Is this the completion or the process?

Is this what Nigerians are joyous about? This school that looks like a ghetto neighborhood?

Nigerians, esp Imolites, have suffered.

eikeem: Nice one, but is he really planning to build 305 of such? I find that very impossible to believe.
By the way, what's the cost implication of this one?
Is there any form of insurance in place?
Is there any long term maintenance plan for the building,and the yet-to-be-built 304 schools?
Is he converting the existing school structures to flagship schools or building brand new schools?
If he's building brand new schools, what happens to the existing structures?

Still, it's a good development.

Demdem: Good to see healthy competition between the states. As regards flagship schools.
By the way, Just 1 out of 305, what has he been doing all these while

PROUD-IGBO:
^^^Exactly my brother; those pics are either photoshopped or they've used juju/otumopko to place them there, and all those structures will disappear once the juju wears off.

Nice one.

PointB: Nice one.

Pray say, is that a Primary or Secondary school? And where is it located?

More works need to be done on the finishing though.

Trading Signals Introduced in MetaTrader 4
The new MetaTrader 4 terminal build with trading signals will be released by the end of the week, and you will be able to try this new feature. The system will work the same way: providers will generate trading signals, while traders will be able to copy them automatically on their accounts.

The following conditions should be met for that:

the launched terminal
MQL5.com account
account data specified in the terminal
subscription to one of the trading signals

After all the conditions are met, accounts will be synchronized and all further trading operations of a signals provider will appear on your account almost instantly. There will be no contracts or any other paperwork. It is not even necessary for a subscriber and a provider to work on the same trade server.

On the other hand, you can become a signals provider yourself and earn additional profit. Register as a signals provider and specify your trading account to allow any trader to subscribe to your signals. After one testing month, profitable providers will become available for paid subscription and you will be able to increase your profit.......Another line of business.....

Follow the news and use MetaTrader 4 trading signals.

The interim boss, who managed the striker for three years at Liverpool, has pointed the finger at the Spaniard's team-mates as reason for a reduced goals return at Stamford Bridge
Benitez originally brought the striker to the Premier League when he signed him from Atletico Madrid for a fee of around £20 million in 2007, with Torres scoring 72 goals in 116 appearances under his guidance at Liverpool.

And the Spaniard has no doubts of Torres’ ability to recapture his Reds form, and has highlighted the need for his team-mates to help the striker’s confidence return.

"You could see he was trying very hard," Benitez told reporters after Torres failed to hit the target during the 0-0 draw with Manchester City on Sunday.

"But I think the team has to help Fernando and create more chances, and he will score goals. You cannot expect a striker scoring just on his own, so we have to create more and better chances for him with the players we have.

"Obviously, I’m not happy with just one shot on target, but the main thing is to create chances and go close."

The goalless draw at Stamford Bridge was a non-event in terms of action but, after a demoralising Champions League defeat that saw the European champions on the brink of elimination and manager Roberto Di Matteo being handed the sack, Benitez found positives from the stalemate.

"The team weren't performing at their level in the last games and lost a bit of confidence from the Champions League game," Benitez continued. "But this was a clean sheet after so many games. You have some positives.

"I'm not 100 per cent satisfied because I want to win. But there aren’t too many teams better than City in the Premier League."

The draw leaves Chelsea sitting fourth in the table, five points behind league-leaders Manchester United.

'The Special One' feels he still has a good understanding with the board members of Los Blancos despite mixed results in Europe and in La Liga but knows he will have to improve.Real Madrid coach Jose Mourinho has stressed that his relationship with the club's officials remains unchanged following disappointing performances. The Liga champions had suffered a 1-0 defeat at Betis on Saturday, and are now in third place, already 11 points behind table-toppers Barcelona.

But, despite the problems on the pitch, Mourinho believes there are none off it.

“Here I am working as I have for many years. There is no question, the relationship with the club is as usual," the Portuguese told reporters at a press conference.

"Now, I have a very, very, very good relationship, absolutely superb relationship with the President, and [CEO] Jose Angel Sanchez."
However, the tactician feels he will be judged on results by the end of the campaign, being aware that the club might not be happy with his work recently.

"It is the club that matters and who can say if they are happy with what we are doing. The assessment must be done at the end.

“Maybe the club is not happy with me and thinks there is room for improvement."
He then talked about the upcoming Copa del Rey challenge against Alcoyano and hinted at the possibility of playing more youngsters.

He added: “Can we win La Liga? I am thinking about winning the Copa del Rey [now]. The 11-point gap and the league I will talk about on Friday.

"I would like people and fans to be kind to our three young players that will play tomorrow. The team need to play very well, and I think we will qualify."

unclenna: MADRID (AP) — The push for an independence referendum for Spain's Catalonia region has been thrown into doubt after the referendum's main supporter was punished at the polls and forced into the difficult position of having to seek alliances with other parties.

Arturo Mas of the center-right CIU party wanted an absolute majority to give him support for an independence referendum that the central government in Madrid says would be unconstitutional. But his party lost seats, while the pro-independence Republican Left made big gains.

It would be difficult for Mas to form an alliance with the Republican Left because it has been very critical of austerity cutbacks for Catalonia pushed through by Mas. Mas did not immediately outline his plans Monday on how he would try to form a majority.
http://news.yahoo.com/independence-drive-spains-catalonia-falters-112428605.html

At least those praying for Barca to leave Spanish league for their club will not be happy with this development......

dav8id: what are the problems you are facing with your importation business? Or are you interested in starting importation business but one things to another keep discouraged? Ask question and i and others will help you.

Note: only questions i will entertain here.so dont ask me me to give toturial on importation busines here.as that will only be on special request.

So start dropping your question on importation business.

Regard

cjrane: He confessed further that he sells the parts as follows: Heads 7,500, breast 1,500, penis 1000, hands and legs for 3,500.



http://www.vanguardngr.com/2012/11/i-sold-human-parts-to-churches-and-ritual-killers-joshua/

THIS GUY IS WICKED. LOOK AT HOW MUCH HE WAS SELLING HUMAN PARTS......

christlyke: ..na phone code b dat na @uclenna

christlyke: Pls abeg which wan con be "postcode" agn.....wetin i go ryt for dere?