By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Nigerian mid-tier lender, Sterling Bank Plc is awaiting the approval of the Securities and Exchange Commission (SEC) to raise N20 billion fresh capital via private placement (PP). Abubakar Suleiman, chief financial officer (CFO) of the bank disclosed this Friday to InvestAdvocate at an analyst/investor presentation […]

Tiger Brands Ltd. (TBS) said first-half profit declined 52 percent after South Africa’s largest food company wrote down its investment in Nigeria’s Dangote Flour Mills Plc (DANGFLOU) less than two years after buying the stake. Earnings dropped to 631.9 million rand ($60 million) in the six months to March 31, […]

* Expects Dangote to break even by 2016 * Reports small rise in H1 profit * Shares up nearly 2 percent (Adds CEO comment, shares)   South Africa’s biggest consumer foods maker, Tiger Brands, will mothball some mills at its Nigerian unit in an attempt to turn around the money-losing […]