Nigerian conglomerate UAC plans 15.4 bln naira rights issue

uacplcNigerian conglomerate UAC is seeking regulatory approval to raise 15.4 billion naira ($42.3 million) from existing shareholders and expects a stronger result for the second half of the year, the company said on Monday.

The company said it had shareholder approval for the share sale and was hoping to launch the offer around September or October, once it gets the green light from the Securities and Exchange Commission.

UAC, with interest in real estate, paints, foods and livestock feed, last week posted a 59 percent fall in pretax profit to 1.63 billion naira for the half-year to June.

($1 = 364.0000 naira)

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

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How To Form & Establish Company In Ghana

Establishment of Enterprises

Application for registration of a company in Ghana made directly, or through agents or solicitors, to the Registrar-General. A company is duly registered after the company’s regulations have been submitted to the registrar of companies and a certificate of incorporation issued. A specified fee is paid on presentation of the regulations. The information required includes:

  • the name of the company with the word “Limited” as the last word in the name
  • the nature of the company’s business
  • the names of the first directors of the company
  • a statement that the liability of the company is limited
  • the share capital and its division into shares of no par value
  • a statement that the company possesses all the powers of a natural person of full capacity
  • limitation on the powers of the Board of Directors in accordance with section 202 of the Companies Code
  • any other lawful provisions relating to the constitution and administration of the company.

The requirements for a public company limited by shares are similar to those stated above, except that the public can buy shares.

Commencement of Business

Before commencing business, further information on the company must be provided. This includes the particulars of the company and a declaration of compliance.

The particulars of the company are given on Form No. 3 and signed by the directors and the company secretary. The information provided must include:

  • name of company
  • authorised business
  • particulars of directors (at least two) and a secretary
  • name and address of auditors
  • addresses of the company’s registered office and principal place of business
  • address at which register of members is maintained
  • amount of stated capital; number of authorized and issued shares, amount paid (other than cash), and amount due for each class.

The declaration of compliance is made on Form No. 4. This states that the conditions of section 28 of the Companies Code pertaining to a minimum capital issue of 25,000 cedis (C) has been paid and signed by all directors and the secretary of the company. There is a stamp duty of 0.5 per cent of capital issue payable. Upon due completion and presentation of the forms, the registrar issues the company with a certificate of commencement of business.

Annual Returns

Limited Liability Companies must file annual returns with the Registrar of Companies showing its audited balance sheet and profit-and-loss statement after 18 months of incorporation.

External Company

An external company is a body corporate formed outside Ghana but which has an established place of business in Ghana. This can take the form of a branch, management, share, transfer, registration office, factory, mine or other fixed place of business, but does not include an agency unless the agent is authorized to negotiate and conclude contracts on behalf of the outside company.

Within one month of the establishment of the place of business, the external company should deliver to the registrar of companies the following:

An English language translation of a certified copy of the charter, statutes, regulations, memorandum and articles or other instrument constituting or defining the constitution of the company, and statement of the following in duplicate:

  • name
  • nature of business or main objects
  • name, address and business occupation of the local
  • manager authorized to manage the business in Ghana
  • number of authorized shares, amount paid and what
  • is remaining payable in cash or otherwise
  • address of its registered or principal office in the country of its incorporation
  • address including post office box number of its principal place of business in Ghana
  • name and address in Ghana of a person authorised by the company to accept service of process and other documents on its behalf
  • particulars and copies of any charges on the property of the company or if no such charges, then statement to that effect.

On receipt of the documents, they are registered in the Registrar of External Companies and the particulars gazetted.

An external company may invite the Ghanaian public to subscribe to its shares, subject to its complying with requirements of the Companies Code concerning invitations and the prospectus as if it were a Ghanaian company. The registrar, however, has the discretion to waive or modify parts of these requirements.

Annually, or at intervals not exceeding 15 months, the external company must submit for registration, a profit-and-loss account and balance sheet (as in the limited liability return of accounts).

Alterations made in the charter, statutes, regulations, articles or other instruments used in registration should be delivered to the registrar within two months of the effective date of the alteration.

The various forms required for registration of companies are obtainable from the Registrar-General. Prospective investors should obtain competent professional advice on the type of company which may best meet their needs. Such advice is obtainable from:

The Registrar-General
Registrar-General’s Department
P.O. Box 118
Accra, Ghana
Tel: (233-302) 662043/664691.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Consulting CWIIL Group of Companies, for any / all matters relating to your business startup, ensures advise based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessing of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and unknowledgeable business advice can be disastrous and thus should be avoided.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advise and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For any / all other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Starting A Business In Ghana

‘Akwaaba’, or welcome, to your first step toward doing business in Ghana. The Republic of Ghana is located in northern Africa‘s western bulge, with the Atlantic Ocean to the south, Togo to the east, the Ivory Coast to the west and Burkina Faso to the north. Ghana is about the same size as the UK, but being equatorial, boasts an average temperature of around 24 degrees Celsius, sandy beaches, and one of the most welcoming populations you’ll find anywhere.

Ghana is a former British colony and was the first country in the sub-Saharan area to gain its independence in 1957. English remains its official language, so communication should not be a problem throughout your business activities in Ghana. The UK and Ghana already have a strong trading relationship, with the UK being Ghana’s largest trading partner.

Other benefits available to foreign business people looking to invest in Ghana :

  • A stable political environment, with established democratic institutions and systems to ensure good governance.
  • Abundant, adaptable, easily trainable and cost-effective labour force.
  • Excellent sea and air connections with Europe and the USA.
  • A strategic and central location within the West Africa sub-region providing access to a total market of around 250 million people.
  • A dynamic private sector willing to collaborate with foreign partners.
  • A high degree of personal safety.

Ghana’s government is particularly keen to welcome foreign investors and there are a series of incentives in place to encourage entrepreneurs to start a business in Ghana. When is there going to be a better time to start doing business in this beautiful country, referred to fondly by its inhabitants as ‘the land of sun’ ?

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Consulting CWIIL Group of Companies, for any / all matters relating to your business startup, ensures advise based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessing of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and unknowledgeable business advice can be disastrous and thus should be avoided.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advise and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

For Queries Specific to Africa :
Email : africa@cwiilgroup.comhq@cwiilgroup.eu
Web : www.cwiilgroup.comwww.cwiilgroup.eu

For any / all other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

 

What to Know Before Starting Own Business in Africa – Professional Business Consultancy From CWIIL Group of Companies

According to the Overseas Private Investment Corporation (OPIC) and the UN trade agency, UNCTAD, Africa offers the highest return on direct foreign investment in the world, far exceeding all other regions.  While petroleum products are the driving force behind those returns, other sectors offer impressive growth. One of the fastest growth areas is telecommunications.

Africa is of increasing strategic interest to the global economy. The continent is expected to soon provide the US with more petroleum than the Middle East. The top supplier of oil to China is Angola. China and India are rapidly increasing their business dealings with Africa. These new power-houses are often beating out American and European firms.

Starting a business in Africa can be a great way to reduce your manufacturing costs. It can however be a challenge to get started. There are a lot of differences between running a business at home and in Africa, and you need to make sure that you understand this before you start your business.

The first thing that you are going to have to do in order to start a business is to get all of the necessary approvals and permits. This can be a real challenge as many African countries lack the bureaucracy to handle this. In addition there tends to be a lot of corruption, which makes things even more difficult, so you would be best advised to start the process a long time in advance.

One of the things that you are likely going to find if you try to start a business in an African country is that you will need to have somebody local to help you. In many cases there will be laws that require that locals own a certain percentage of the company. Even if this is not the case, you are going to want to have somebody with local knowledge to help you so it is important to find a contact that you can trust in the country that you are planning to start your business in.

Africa offers a consumer base of more than 900 million people. While more than half of Africa is estimated to live on a dollar or less a day, the other half does not, and they are hungry for products and services.  Even among the poor, there are surprising opportunities. Incremental profits may be low, but vast numbers of potential consumers can result in high overall profits.

Before you make a decision to start a business anywhere in Africa, however, you are going to want to make sure that the necessary infrastructure is in place. This is particularly important if you are planning to manufacture a product. Things that you take for granted at home like a regular supply of water or electricity may not be available. In addition you may find that there are no employees available who have the necessary skills. That being the case before you spend any serious money you want to check all of this out to make sure that you can actually get the business up and running.

There are a lot of benefits to starting a company in Africa and if you do it successfully you can dramatically reduce your costs. You do have to understand however that it can be a very frustrating experience to get your business started. You are going to want to make sure that you give yourself lots of time and that you have lots of patience. You are also going to want to make sure that you get help from people who have experience in the country you are planning to start your business in.

The risks of investing in Africa remain high, just as they are for most emerging markets, but keep in mind that the perceived risk is much greater than the real risk. Starting your own company is serious business and for that professionals should always be consulted to guide you in proper directions.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Consulting CWIIL Group of Companies, for any / all matters relating to your business startup, ensures advise based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessing of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and unknowledgeable business advice can be disastrous and thus should be avoided.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advise and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries or to Request a Personal Quote Feel Free to Contact :

Mr. Francis Thomas Matthews,
Deputy Global Director, No. 8
Marketing Research & Development Division,
Email : deputy.gd.8@cwiilgroup.eu
Voice : +45.8176.1924
Connect : LinkedIn I Twitter I Facebook I Google+ I Tumblr I Pinterest

For Queries Specific to Africa :
Email: africa@cwiilgroup.comhq@cwiilgroup.eu
Web: www.cwiilgroup.comwww.cwiilgroup.eu

CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

What to Avoid When Starting Own Business in Africa – Professional Business Consultancy From CWIIL Group of Companies

An increasing number of African entrepreneurs are entering the challenging new world of running one’s own business. Pearl Seigel of M/s Training Shop, South Africa, addresses some of the common pitfalls :

1. Lack Of PlanningBusinesses that do not have a plan often lack direction and focus. The purpose of developing a business plan is not just to raise capital but to direct the process of starting a new business. That said it is always important to change the plan as the business grows.

2. Not Using Business Cards To Promote The Business – Many start-up businesses think that the cost of business cards is a waste of money. A well designed business card with readable information is an inexpensive way of ensuring your business is remembered and easily contactable.

3. Not Understanding The 80:20 RuleThis rule is often misunderstood. When 80% of sales come from 20% of customers you may decide to spend all your time on those customers. It is important to understand that those customers have strong bargaining power and although the sales turnover may be high the profitability is often low. Also, if you lose those customers you lose 80% of your business!

4. Undercharging For Products Or Services – Some start-up businesses undercharge because they do not know how to work with mark-ups that take into account operating costs. For example if you buy a product for $10 and sell it for $20 that is a $10 profit. Sounds great but what about the other costs of doing business – these could be transport, salaries and electricity.

5. Extending Credit – Start-up businesses that extend credit may end up with a lot of bad debts. If customers do pay, waiting 60 to 120 days can threaten sustainability.

6. Acting As If You Are A Big Business – It may be tempting to act as if you are a long established big business. Suppliers and customers are not easily fooled and will view you as dishonest. Remember all big businesses start of as small businesses. Microsoft did not start as Makrosoft!

7. Bad Customer Service – Customers will always be drawn to efficient effective service. A happy customer will become a loyal customer. They will tell their friends and word of mouth marketing or referrals are one of the best ways to grow a business.

8. Letting Emotions Influence Decision Making – Decisions based on emotions without thought or analysis can be financially detrimental. For example a pushy salesman wants you to buy an expensive item or to sign a two year service contract. It’s best to take the information and say you need time to think about it.

9. Financing Growth – Growth is a good indication that there is a demand for your product or service. But can you finance the growth? Growing costs may include needing more people or machinery.

10. Lack Of Motivation – Entrepreneurship requires the ability to stay motivated. Persistence, perseverance and patience are key ingredients to claim a share of the market. The ability to keep going both financially and personally is often a problem. Speaking to other entrepreneurs or a mentor can keep you motivated.

Pearl Seigel is founder of the Training Shop, she holds a Masters Degree in Business Leadership (MBL), from the Graduate School of Business Leadership, University of South Africa. Pearl’s work experience includes marketing, branding, communication, consulting, training, facilitation, accountancy and auditing.

Starting your own company is serious business and for that professionals should always be consulted to guide you in proper directions.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Consulting CWIIL Group of Companies, for any / all matters relating to your business startup, ensures advise based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessing of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and unknowledgeable business advice can be disastrous and thus should be avoided.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advise and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries or to Request a Personal Quote Feel Free to Contact :

Ms. Victoria Robinson,
Head of Corporate Communications,
Internet Research & Development Division,
Email : victoria.robinson@cwiilgroup.eu
Voice : +45.8176.1961
Connect : LinkedIn I Twitter I Facebook I Google+ I Pinterest I Tumblr

For Queries Specific to Africa :
Email: africa@cwiilgroup.com , hq@cwiilgroup.eu
Web: www.cwiilgroup.com , www.cwiilgroup.eu

CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.