Naija News Today & Breaking News|Saharaweeklyng December 25, 2024

GBC-Reanda climbs up the ladder in Accounting firms’ rating in Nigeria

The prestigious International Accounting Bulletin (AIB) in its recent 2024 Country Survey of Accounting firms in Nigeria has rated GBC-Reanda as the 11th local Accounting...

Major currency devaluation in 2023, also caused the Dangote group to record a significant FX loss of N2.7 trillion in 2023 as the company faces a mismatch between USD denominated debt and domestic revenues. Fitch expects the devaluation to continue at a higher pace in 2024 leading to more losses. The group plans to divest a 12.75% stake in DORC in 2024. The group intends to service its significant syndicated loan maturing in August 2024 from the equity divestment. “However, timely divestment and meeting the imminent maturity is highly uncertain in our view,” Fitch said. Fitch expects DIL’s EBITDA margins in cement production to drop further in 2024 following softer retail demand for cement particularly in the Nigerian market as well as limited ability to pass on increased raw material cost to consumers. Fitch downgraded the National Long-Term Rating to ‘B+(nga)’ from ‘AA(nga)’ and senior unsecured debt rating issued by Dangote Industries Funding Plc to ‘B+(nga)’ from ‘AA(nga)’. Fitch has simultaneously placed the ratings on Rating Watch Negative (RWN). The RWN reflects uncertainty related to the group’s ability to refinance maturing debt. FITCH DOWNGRADES DANGOTE INDUSTRIES RATINGS OVER LIQUIDITY POSITION

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FAREWELL TO THE GREAT IROKO OF AFRICA; CHIEF ENGR. DR. EMMANUEL IWUANYANWU CFR, OFR, MFR, FNSE, FNICE, FNIST, KSC, GCSI, AHAEJIAGAMBA NDIGBO (PRESIDENT GENERAL OF OHANAEZE NDIGBO)

FAREWELL TO THE GREAT IROKO OF AFRICA; CHIEF ENGR. DR. EMMANUEL IWUANYANWU CFR, OFR, MFR, FNSE, FNICE, FNIST, KSC, GCSI, AHAEJIAGAMBA NDIGBO (PRESIDENT GENERAL OF OHANAEZE...

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How Adron Homes Transform Shimawa into Ogun State Premier Real Estate Hub

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Aare Bashir Fakorede Distance self from Land Grabbing Allegations, Calls for Proper investigation

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Rotary International District 9112 launches its coastal restoration initiative by planting 1,000 coconut trees in Lagos

In a bid to promote its mission of improving the environment, Rotary international District 9112 on Sunday kicked off an environment-saving intervention tagged: Coastal...

ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

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National Association of Polytechnic Students ( NAPS) appeal to Federal Government to Support Initiative that will reduce Housing deficit in Nigeria.

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Aare Adetola EmmanuelKing Congratulates Ogun State First Lady, Mrs. Bamidele Abiodun, on Her 57th Birthday

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Aare Adetola EmmanuelKing Congratulates Ogun State First Lady, Mrs. Bamidele Abiodun, on Her 57th Birthday

Aare Adetola EmmanuelKing Congratulates Ogun State First Lady, Mrs. Bamidele Abiodun, on Her 57th Birthday Sahara Weekly Reports That...

Sahara Weekly Magazine

GBC-Reanda climbs up the ladder in Accounting firms’ rating in Nigeria

Dangote: End of the Road for a Monopolist? By Soji Adekunmbi

FAREWELL TO THE GREAT IROKO OF AFRICA; CHIEF ENGR. DR. EMMANUEL IWUANYANWU CFR, OFR, MFR, FNSE, FNICE, FNIST, KSC, GCSI, AHAEJIAGAMBA NDIGBO (PRESIDENT GENERAL OF OHANAEZE NDIGBO)

How Adron Homes Transform Shimawa into Ogun State Premier Real Estate Hub

Aare Bashir Fakorede Distance self from Land Grabbing Allegations, Calls for Proper investigation

Rotary International District 9112 launches its coastal restoration initiative by planting 1,000 coconut trees in Lagos

ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

Buratai Lauds Tinubu’s Increased Support for Counterinsurgency Operations

National Association of Polytechnic Students ( NAPS) appeal to Federal Government to Support Initiative that will reduce Housing deficit in Nigeria.

Aare Adetola EmmanuelKing Congratulates Ogun State First Lady, Mrs. Bamidele Abiodun, on Her 57th Birthday

APO Group