Africa business news, business ideas, and product updates

Xiaomi Mi 6, the Chinese company’s 2017 flagship smartphone, is set to launch today at an event in Beijing, China. The launch of Mi 6 smartphone ends the long wait of its fans for a smartphone that can take on iPhone 7, as well as the likes of Samsung Galaxy S8 and LG G6. Along with the Mi 6, Xiaomi is expected to launch the Mi 6 Plus and Mi Max 2 at the launch event, which is being live streamed on the Xiaomi website. According to previous leaks, Xiaomi Mi 6 will be launched in 4GB of RAM + 64GB storage and 4GB + 128GB variants, priced at CNY 2,199 (roughly Rs. 20,500), and CNY 2,599 (roughly Rs. 24,300), respectively. The bigger Xiaomi Mi 6 Plus, on the other hand, is tipped to be offered in 6GB of RAM + 64GB, 6GB + 128GB, and 6GB + 256GB variants, which will reportedly be priced at CNY 2,699 (roughly Rs. 25,000), CNY 3,099 (roughly Rs. 28,990) and CNY 3,699 (roughly Rs. 34,600), respectively. The big highlight of the Mi 6 is said to be the latest Snapdragon 835 processor inte...

The Nnamdi Azikiwe International Airport, Abuja, opened for flights on Tuesday six weeks after it was closed for runway repairs. The Minister of State, Aviation, Hadi Sirika, landed first on the rehabilitated runway on a Nigerian Police Force aircraft with registration number 5N- HAR, which flew in from Kaduna airport. An excited Sirika told journalists: “April 19, 2017 was the due date to conclude and open the airport based on our programme of work. “We were able to deliver the project earlier than anticipated so we cannot open late. There is nothing wrong in opening it a day earlier. “Here we are, we set out to achieve a target and we achieve the target. “We thank Allah for His benevolence. We are happy and thank Mr. President, His Excellency for his support, guidance and leadership. “And I also want to thank my colleagues who did it all, the media and the Nigeria people for bearing with us during the time of the closure.” Also read:  Ethiopian Airlines Lands Air...

THE Lagos State Government, yesterday said it is examining the judgement of the Supreme Court affirming the death sentence passed on the General-Overseer of the Christian Praying Assembly, Rev. Chukwuemeka Ezeugo, popularly known as ‘Reverend King’ as well as other murder convicts in the state. In a question and answer session with newsmen, at the flag off of the yearly ministerial briefing of the Lagos State Ministry of Justice, the Attorney General and Commissioner for Justice, Mr Adeniji Kazeem, said the decision becomes imperative with the briefing coming from the prisons authorities regarding the condemned inmates in the state. The Supreme Court recently, affirmed both the judgments of the trial court and the appeal court which convicted and sentenced Ezeugo to death by hanging for the murder of his church member, Ann Uzoh on January 17, 2007. The State Commissioner for Justice said it has become necessary for the government to look at the issues considering that some con...

African Rainbow Minerals tumbled 10.7 percent to R85, Assore dropped 9.4 percent to R221 and Kumba Iron Ore was down 8.89 percent to close at R170.04. Nedbank, the largest investor in Nigeria’s Ecobank, weakened 3.45 percent to R224.56 after it flagged the pan-African lender’s fourth-quarter losses. Ecobank reported a loss for 2016 blaming a recession in Nigeria and a strong US dollar. Aspen Pharmacare, Africa’s largest generic drugmaker, dropped 4.14 percent to R268.50 after a report in Britain’s Times newspaper accused the firm of withholding drugs to try to drive up prices in European markets. Aspen declined to comment on specific allegations because it could be in breach of sub-judice laws that apply to matters that are the subject of legal processes. Source:  iol.co.za

Johannesburg – Gold Brands, the only listed fast-food retail company on the JSE AltX, is bringing Las Iguanas to South Africa. It is a UK mid-market restaurant brand that specialises in authentic Mexican, Brazilian and South American food and cocktails. The first outlet will open in Johannesburg in June. “Fewer South Africans can afford to spend money on indulgent holidays these days, and they’re spending their money on dining out instead,” says Nathanael. “Casual dining is becoming increasingly popular in South Africa, and Gold Brands is excited to be part of this booming market.” Mos Shamel, managing director of Las Iguanas, says it started in Bristol in 1991. Known for its vibrant colours and atmosphere, the outlet, now has 53 sites. An integral part of its identity is its extensive cocktail offer, which boasts a variety of classic South American serves, such as mojitos, caipririnhas and margaritas. Las Iguanas will be open for breakfast, lunch and dinner seven days a...

The Federal Inland Revenue Service (FIRS) realised N3.3 trillion in- tax revenue in 2016, the Executive Chairman, Tunde Fowler, has said. The FIRS chief, who spoke in Abuja yesterday at a training for journalists on tax reporting, praised the efforts of the Service for raising the amount at a most trying period in the country’s economic history. He praised the FIRS performed for attaining the feat at a time when oil prices dropped to less than $50 a barrel for over nine months, and when the value of stocks on the Nigerian Stock Exchange (NSE) slid and purchasing power was slim. In achieving the goal, he said the FIRS implemented “waiver of Interest and penalty as part of efforts to promote voluntary compliance and shield taxpayers from the burden of carrying forward tax liabilities that arose from penalty and interest.” FIRS “successfully implemented a waiver of interest and penalty for three years (2013 to 2015),” he said, adding that the Service by engaging this entirely n...