Connect with us

Headline

South African Billionaire Family Buys Nigeria’s Top Can-maker Firm

Published

on

A South African billionaire family popularly known as Oppenheimer has acquired a controlling stake in one of Nigeria’s prominent can makers, GZ.

The acquisition was completed by Jonathan Oppenheimer, one of the sons of the second richest man in Africa, Nicky Oppenheimer, who reportedly secured the full control of GZ Industries Ltd., Nigeria’s prominent beverage can manufacturer, signaling a bet on the potential revitalization of Africa’s largest economy.

According to a report by Bloomberg, the acquisition of the remaining shares in GZ Industries from Affirma Capital (formerly Standard Chartered Private Equity) was completed through their company, Oppenheimer Partners Limited.

Advertisement

Although the financial specifics of the deal remain undisclosed, the private equity firm had held a significant 37.5% stake in GZ Industries, a key supplier of cans to major entities such as Coca-Cola Co.

READ ALSO: Bauchi APC Sacks Chairman, Names Replacement

GZ first began operations in Nigeria in 2019. Ayodeji Adelakun is the Executive Director and Group Chief Executive Officer of the company.

Advertisement

This move is poised to empower Jonathan Oppenheimer to steer the trajectory of GZ Industries’ expansion within sub-Saharan Africa.

The region stands as a pivotal market, with urban, educated adults boasting the world’s highest consumption of sugary drinks, averaging 12.4 servings per week, according to research published by Nature Communications.

The acquisition strategically aligns with tapping into this lucrative consumer base.

Advertisement

READ ALSO: PICTORIAL: Gunmen Attack Kogi REC’s Residence

Oppenheimer Partners initially entered the GZI venture in 2018, coinciding with the establishment of a GZI factory in South Africa.

Presently, GZI holds a 20% market share in the South African market, engaging in competition with the financially challenged Nampak Ltd., which is in the process of selling assets and restructuring debt.

Advertisement

Affirma Capital’s initial investment in GZI dates back to 2012.

GZ Industries holds significant production capacity, churning out 3 billion aluminium cans annually in Africa. Out of its production figure, 1,800,000,000 of those cans are produced in Nigeria.

Advertisement
Advertisement
Comments

Headline

12 Feared Dead In Kenya Light Aircraft Crash

Published

on

A small plane travelling from Kenya’s coast crashed on Tuesday, according to the country’s aviation authority, with the 12 people on board feared dead.

The small plane was en route to Kichwa Tembo — a private airstrip located in the Maasai Mara National Park — from the tourist hotspot of Diani when it came down at around 5:30am local time (0230 GMT).

“The aircraft had 12 persons on board,” a statement from the Kenya Civil Aviation Authority (KCAA) said.

Advertisement

It gave no further details, but said that government agencies were already on site to establish the cause of the accident.

READ ALSO:Putin Admits Russia Caused Azerbaijani Plane Crash

The Guardian reports that plane crashes are fairly common in Kenya in the last 18 months. On March 5, 2024, a mid-air collision between a Safarilink Aviation commercial flight and a 99 Flying School training aircraft occurred over the Nairobi National Park, resulting in two fatalities.

Advertisement

The incident took place shortly after both aircraft had departed Wilson Airport. The collision involved Safarilink Aviation Flight 053, a De Havilland Canada Dash 8 carrying 39 passengers and five crew members, and a 99 Flying School Cessna 172M.

AMREF Aircraft Crash

In August, a light aircraft belonging to the AMREF Flying Doctors crashed into a residential area in Mwihoko, Ruiru, Kiambu County, killing six people and injuring at least two others.

Advertisement

The aircraft, a Cessna Citation XLS (registration 5Y-FDM), had taken off from Wilson Airport and was en route to Hargeisa, Somalia, when it went down under unclear circumstances.

READ ALSO:Fire On Board Forces Lagos-Atlanta-bound Aircraft Diversion To Ghana

AMREF Flying Doctors CEO Stephen Gitau issued a statement confirming the incident. Mr Gitau noted that the aircraft departed Wilson Airport at 2.17 PM before crashing in Mwihoko. He stated that the organisation is “cooperating fully with relevant aviation authorities and emergency response teams to establish the facts surrounding the situation.”

Advertisement

Foreign Couple Killed in Kenyan Plane Crash, Earlier in January, a light aircraft crash killed a foreign couple aboard. The accident involved a Cessna 185 aircraft that departed from Nairobi and was en route to Mbaruk in Nakuru County. It went down in the lakeside town of Naivasha at approximately 5:14 p.m. local time (1414 GMT).

At the time, Naivasha Police Deputy Chief Charles Mwai suggested that poor visibility due to fog in the area might have been a contributing factor. Aviation experts have been called to the scene to conduct an investigation.

Advertisement
Continue Reading

Headline

UK Police Arrest Asylum Seeker Sex Offender Mistakenly Freed

Published

on

The UK police on Sunday arrested an Ethiopian asylum seeker and convicted sex offender, whose crimes had sparked anti-immigration protests, after he was accidentally released from prison in an embarrassing blunder by British authorities.

London’s Metropolitan Police said officers arrested Hadush Kebatu in the north of the capital on Sunday morning, nearly 48 hours after he was mistakenly freed around 30 miles (48 kilometres) away.

Kebatu, 38, had served the first month of a one-year sentence for sexually assaulting a teenage girl and a woman, but was reportedly due to be deported when the Prison Service error occurred on Friday.

Advertisement

His high-profile case earlier this year in Epping, northeast of London, sparked demonstrations in various English towns and cities where asylum seekers were believed to be housed, as well as counter-protests.

READ ALSO:UK Police Hunt Asylum Seeker Mistakenly Freed For Sex Offence

Commander James Conway, who oversaw the manhunt for him, said “information from the public” led officers to the Finsbury Park neighbourhood of London, where he was found.

Advertisement

He was detained by police but will be returned to the custody of the Prison Service,” he added.

Kebatu is now expected to be deported.

Prime Minister Keir Starmer said Friday he was “appalled” by the “totally unacceptable” mistake that saw him freed rather than sent to an immigration detention centre.

Advertisement

The Telegraph newspaper said he was wrongly categorised for release on licence and handed a £76 ($101) discharge grant.

READ ALSO:Alleged Misappropriation: MFM Accuses UK Agency Of Discrimination

Police had appealed Saturday for Kebatu to turn himself in, after reports emerged that he had appeared confused and reluctant to leave the prison in Chelmsford, eastern England.

Advertisement

A delivery driver described seeing Kebatu return several times in a “very confused” state, only to be turned away by staff and directed to the railway station.

The driver told Sky News he saw Kebatu outside the jail, asking, “Where am I going? What am I doing?”

He was starting to get upset, he was getting stressed,” the driver said.

Advertisement

READ ALSO:UK Is A Home, Not Hotel, Kemi Badenoch Tells Immigrants, Starmer’s Govt

The father of Kebatu’s anonymous teenage victim told the broadcaster that “the justice system has let us down.”

Police arrested the asylum seeker in July after he repeatedly tried to kiss a 14-year-old girl and touch her legs, and made sexually explicit comments to her.

Advertisement

He also sexually assaulted an adult woman, placing a hand on her thigh, when she intervened to stop his interactions with the girl.

He was staying at the time at Epping’s Bell Hotel, where scores of other asylum seekers have been accommodated, and which became the target of repeated protests.

AFP

Advertisement

 

Continue Reading

Headline

Madagascar Revokes Ousted President’s Nationality

Published

on

Madagascar’s new government has stripped ousted president Andry Rajoelina of his Malagasy nationality in a decree published Friday, 10 days after he was removed in a military takeover.

According to AFP, the decree means that Rajoelina, who was impeached on October 14 after fleeing the island nation in the wake of weeks of protests, would not be able to contest future election.

The decree published in the official gazette said Rajoelina’s Malagasy nationality was revoked because he had acquired French nationality in 2014, local media reported, as photographs of the document were shared online.

Advertisement

READ ALSO:Madagascar’s President Denounces ‘Coup Attempt’ As Gen Z Protests Escalate

French broadcaster RFI said it had confirmed the decree with the entourage of the new prime minister, Herintsalama Rajaonarivelo, who signed the order.

The decree cited laws stipulating that a Malagasy who voluntarily acquires a foreign nationality loses their Malagasy nationality.

Advertisement

Rajoelina’s French nationality caused a scandal when it was revealed ahead of the November 2023 elections, nearly 10 years after it was granted.

READ ALSO:Madagascar Passes Bill To Castrate Child R*pists

It triggered calls for him to be disqualified but he went on to win the contested polls, which were boycotted by opposition parties.

Advertisement

The 51-year-old politician fled Madagascar after army Colonel Michael Randrianirina said on October 11 his CAPSAT unit would refuse orders to put down the youth-led protest movement, which security forces had attempted to suppress with violence.

Rajoelina said later he was in hiding for his safety, but did not say where.

Randrianirina was sworn in as president on October 14, pledging elections within two years.

Advertisement
Continue Reading

Trending