Business News
Peterside steps down from Nigerian Breweries board, gives reason
Brewery giant, Nigerian Breweries Plc has announced the resignation of Mr Atedo Peterside as a non-Executive Director.
Nigerian Breweries Plc has announced the resignation of Mr Atedo Peterside as a non-Executive Director from its board.
This was disclosed in a notification, which was signed by the firm’s Company Secretary, Uaboi G. Agbebaku and sent to the Nigerian Stock Exchange (NSE) on April 1, 2020.
In the written communication to the NSE and the investing public, Mr Peterside gave a reason for his resignation from the board.
In his explanation, Peterside, who just set up the Anap Foundation COVID-19 Think Tank, following the outbreak of the coronavirus pandemic, told the Board that he resigned in order to focus on fulfilling the objectives of the Think Tank, especially as the pandemic continues to escalate.
[READ MORE: Bill Gates steps down from Microsoft’s board, faces philanthropy)
He also informed the board that the resignation took effect on April 1, 2020.
Peterside joined the board of Nigerian Breweries on August 21, 2008, and throughout his stint with the company, served as the Chairman of the Remuneration Committee and also Governance Committee.
Recall that about 3 weeks ago, Mr Peterside boycotted the CBN consultative roundtable session because of the dethronement and banishment of Emir Sanusi Lamido from Kano.
In the letter he sent to the CBN Governor, Godwin Emefiele, he stated that he could not hide his displeasure with the way and manner Sanusi was deposed as the Emir of Kano and eventually banished.
Peterside, who had his basic education at King’s College, Lagos, obtained his B.sc Economics from the City University, London. He also got his M.Sc Economic from London School of Economics.
[READ ALSO: Embattled Director, Fidelis Madavo steps down from Dangote Cement Board)
He founded Investment Banking and Trust Company (IBTC) in February 1989 and was the pioneer CEO. The CBN’s order on recapitalization led the bank to merge with Chartered Bank and Regent Bank on December 2005. On September 24, 2007, it merged with Stanbic Bank Nigeria to form Stanbic IBTC.
He was the Group Chairman Stanbic IBTC Holdings. He is currently the Chairman of ANAP Business Jets Ltd. He has been the Chairman of Cadbury Nigeria Plc since 2010.
Business
Hyundai and Kia to set up an assembly plants in Ghana by 2022
The automobile giants will join Toyota-Suzuki, Nissan, Kantanka, Volkswagen, and Sinotruck who already have plants in Ghana.
Few weeks after Twitter announced its plans to open its first African office in Ghana, Hyundai and Kia have also concluded plans to set up an assembly plants in Ghana by 2022. The automobile giants will join Toyota-Suzuki, Nissan, Kantanka, Volkswagen, and Sinotruck who already have plants.
Ghana’s Minister for Trade and Industry, Alan Kyerematen announced this on Twitter.
Pleased to announce that Hyundai & KIA are set to establish assembly plants in Ghana by the end of 2022 to join Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck. The Ghana Auto Development programme = 3,600 assembly & 6,600 manufacturing parts jobs in Ghana. #InvestforJobs pic.twitter.com/JMHAmlM5VI
— Alan John Kyerematen (@AlanKyerematen) April 22, 2021
READ: This is the New Tarrif Structure For Importing Tokunbo & Brand New Cars
“Pleased to announce that Hyundai & KIA are set to establish assembly plants in Ghana by the end of 2022 to join Toyota-Suzuki, Nissan, Kantanka, Volkswagen & Sinotruck. The Ghana Auto Development program = 3,600 assemblies & 6,600 manufacturing parts jobs in Ghana.
“The local assembly of vehicles, 3,600 direct and indirect jobs would be created in Ghana, and the addition of components and parts manufacturing will also add about 6,600 direct and indirect jobs.”
READ: Toyota snubs Nigeria as it moves to establish assembly plants in Ghana, Ivory Coast
Why this matters
More foreign companies are shunning Nigeria in favour of Ghana. Recently, Nairametrics reported that Amazon is set to situate its African Headquarters in South Africa, a multi-billion dollar investment that is projected to create over 20,000 jobs both directly and indirectly.
Following its move to Ghana, Twitter CEO, Jack Dorsey cited a number of human rights-related reasons for the choice of Ghana over Nigeria. Added to this are rising insecurity, stifling government regulations and the gapping infrastructural deficit bedevilling Nigeria. Consequently, our nation is steadily losing opportunities to attract foreign companies that could be very instrumental in bridging its unemployment gap which is currently over 30%.
Business
Passports: Backlog of undelievered passports to be fixed before May 31st – Minister
The government also announced the launch of a new passport application system, which would be aided by fast track services nationwide.
