Business News

Ecobank shareholders pass governance action plan, CEO stays

* Meeting agenda did not contain resolution on Tanoh * CEO must step down, says bank’s top shareholder * Tanoh took over as CEO in Jan. 2013 (Adds quote, context)   Ecobank shareholders passed a governance action plan to address criticism by Nigeria’s securities regulator at an extraordinary general meeting […]

Investors may continue to flee Russian stock market at open

Russia’s stock market, which lost nearly $60 billion on Monday, may fall further on Tuesday on escalating tensions over neighboring Ukraine, analysts said on Tuesday, suggesting that the losses may be muted. “There is potential for further losses, however not of course as it was yesterday when the market felt […]

African tower firm IHS raises $490 mln to fund expansion

* IHS raises $420 mln in equity * Goldman Sachs among new investors in firm * Also raises $70 mln in debt from Standard Chartered   African phone tower group IHS has raised $420 million in equity and $70 million in debt to fund its expansion across the continent, the […]