Manufacturing & Retail

General Electric appoints seasoned marketer Selam Amare to head Ethiopia operations

November 12, 2019

ETHIOPIA – American multinational conglomerate with projects in Healthcare, Aviation and Power, General Electric (GE) has announced the appointment of Selam Amare as the Country Leader for Ethiopia. In her new role, Selam will oversee GE’s operations in the country and strengthen our businesses presence in the market, the company said in a press statement. […]

Read More

Dangote Industries appoints Halima Aliko Dangote as Group Executive Director, Commercial Operations

November 12, 2019

NIGERIA – Dangote Industries Limited, one of Africa’s largest and most diversified business conglomerates has appointed Halima Aliko Dangote as the Group Executive Director, Commercial Operations of Dangote Industries Limited.  The company said in a statement that Halima will be responsible for leading the development and implementation of the Dangote Group’s customer strategy. The strategy […]

Read More

South African retailer Edcon sells stake in Edgars to Mauritian incorporated entity

November 12, 2019

ZIMBABWE – South African retail giant, Edcon has completed the disposal of its shareholding in Zimbabwe-based clothing chain Edgars Stores Limited to Mauritius incorporated entity SSCG Africa Holdings, as the group realigns operations to remain sustainable. Edcon controlled a 41 percent stake in Edgars Zimbabwe, which has 25 branches across the country as well as […]

Read More

US solar company SunPower to splits into two business units to enhance efficiency

November 12, 2019

UNITED STATES – U.S. solar company, SunPower has revealed that it will split into two publicly traded companies, separating most of its solar panel manufacturing operations from storage and energy services. The announcement resulted in a spike in the company’s share value sending its shares up as much as 15%. The move according to a […]

Read More

Adidas to close German, U.S. robot factories, says deploying tech in Asia would be more economical and flexible

November 11, 2019

GERMANY – Adidas has announced plans to close the high-tech “robot” factories in Germany and the United States it launched to bring production closer to customers. The sportwear manufacturer said in November that deploying some of the technology in these factories in Asia would be “more economic and flexible”. The Adidas factories were part of […]

Read More

Dangote Group expands portfolio in Togo with US$2bn phosphate mining deal and US$60m cement facility

November 10, 2019

TOGO – Dangote Industries Limited and the Government of Togo have concluded an agreement to develop and transform Togolese phosphate into phosphate fertilizers for the West African sub-region; in a bid to improve consumption of the product in Africa. President/CE Dangote Group, Aliko Dangote said, ‘’This partnership is in line with our transformation agenda in […]

Read More

Toyota records impressive US$6.1 billion 2Q profits, announces $1.8 billion share buyback

November 10, 2019

JAPAN – Japan’s biggest automaker, Toyota Motor Corp has announced that its profits rose by 14% to 662.3 billion yen (US$6.1 billion) for the three months ending September 30. The Automaker also announced that it will buy back shares worth US$1.8 billion. Toyota’s impressive performance beat an average forecast of 592.3 billion yen (US$5.42 billion), […]

Read More

Alibaba partners with Russia’s Pochta to launch first direct China-Russia cargo flights to cut delivery times

November 10, 2019

RUSSIA – Alibaba Group’s logistics operator, Cainiao and Russia’s Pochta postal service have launched their first direct China-Russia cargo flights to deliver AliExpress goods purchased online by Russians, AliExpress Russia has revealed. The move, which AliExpress Russia hopes will help it cut the time it takes to deliver orders from China to Russia to 10 […]

Read More

US department store chain Sears secures US$250m loan to fund operations, plans to close 96 more stores to cut costs

November 8, 2019

UNITED STATES– US department store chain, Sears has secured a US$250 million loan from lenders including billionaire owner Eddie Lampert to enable it to fund its operations.  The retail store chain that has been accumulating losses for a while now also revealed that it will close 98 additional stores to cut on costs and hopefully […]

Read More

GM offloads idle Ohio assembly plant, new owners to convert facility to electric car manufacturing hub

November 8, 2019

UNITED STATES – General Motors Co has confirmed that it has sold its shuttered Lordstown Assembly plant in Ohio to Lordstown Motors Corp, a start-up that has an ambitious plan to begin building electric pickup trucks by the end of 2020. General Motors revealed its plan to stop operations at the Ohio facility in November […]

Read More