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Shoprite to sell Nigerian division to Persianas Group
By Anthony Osae-Brown
(Bloomberg) – Shoprite plans to sell its Nigerian division to a local property group, according to a person familiar with the matter, as Africa’s largest food retailer pulls back from the continent’s most populous country.
Regulatory approval for Persianas Group to buy the Shoprite unit is expected by the end of April, said the person, asking not to be identified because the information isn’t yet public. While the asset has been valued by the seller at 30 billion naira ($73m), it’s not yet clear how much Persianas has agreed to pay.
Apr 6, 2021, 11:55 AM – Updated on Apr 6, 2021, 11:55 AM
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The attackers targeted a police headquarters and a jail in Imo state late on Monday, the police said in a statement. The raid was carried out by members of the separatist Indigenous People of Biafra and its armed wing, the Eastern Security Network, using “sophisticated weapons” including rocket-propelled grenades and improvised explosive devices, the police said.
More than 1,800 prisoners were freed in the assault, ThisDay, a Lagos-based newspaper, reported on Tuesday.
“The president directed security and intelligence agencies in the state and the geo-political zone to fully mobilize and go after the terrorists, apprehend them and get them punished under the full weight of the law,” the presidency said in a statement.
More trouble for MTN in Nigeria as banks block subscribers
Some Nigerian lenders have cut off MTN Nigeria from their banking platforms, making it impossible for millions of customers to buy credit for their phones.
All lenders in Africa’s most populous country, except Zenith Bank, have taken MTN Nigeria off their platform, said Funso Aina, a spokesman for the telecommunications company.
The banks took the action after MTN reduced the commission paid to lenders for allowing customers use their platform to buy call credit, Aina said. Airtime sales are suspended through all banking channels banking apps, USSD codes and even debit cards. MTN is the West African nation’s biggest telecoms services provider with about 79 million subscribers.
PricewaterhouseCoopers, McKinsey, KPMG seek deal adviser roles
Ukiri Lijadu and Kenna Partners appointed as legal advisers
Nigeria plans to hire an asset manager for its new Infrastructure Corp. of Nigeria Ltd., designed to raise as much as 15 trillion naira ($36.7 billion) for projects and to accelerate growth in Africa’s biggest economy.
Nigeria’s central bank and its funding partners – Africa Finance Corp. and state-owned Nigeria Sovereign Investment Authority are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan, according to a person with knowledge of the matter. The person requested not to be named because the matter is not yet public.
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