Garanti BBVA: Digital Banking Powerhouse or a Test of Resilience in Turkey’s Volatile Economy? A strategic business review by H.G.&W Consulting Executive Summary Garanti BBVA has developed into one of Turkey’s most influential private banking institutions, combining the reach of a major domestic bank with the technology, international expertise and financial backing of...
NNPC Ltd: Record Profits, Refinery Questions and the Battle to Build a World-Class Energy Business A strategic business review by H.G.&W Consulting Executive Summary Nigeria’s national oil company is at a critical stage in its evolution. Since becoming a limited liability company under the Petroleum Industry Act (PIA) 2021 and commencing its commercial...
ENUGU AIR: CAN A STATE-OWNED AIRLINE BECOME THE ECONOMIC ENGINE OF A REGION? A Business Review of Enugu State's Ambitious Aviation Bet Executive Summary When Enugu Air took to the skies on 7 July 2025, it entered one of Nigeria's most difficult businesses: commercial aviation. Airlines operate in an unforgiving environment. They require expensive...
Jerónimo Martins: The Retail Empire Built on Low Prices How a 230-Year-Old Portuguese Business Built a Multinational Food Retail Platform Executive Summary Jerónimo Martins is one of Europe's more interesting retail groups because its story is simultaneously one of scale, discipline, geographic diversification and strategic concentration. The Portuguese group traces its roots back more...
L&T: From Building Infrastructure to Building the Future How Larsen & Toubro Is Transforming an Engineering Legacy into a Global Technology and Infrastructure Powerhouse Executive Summary Larsen & Toubro (L&T) has spent almost nine decades building a reputation around engineering, construction and project execution. Today, however, describing L&T simply as an engineering and construction...
GEREGU POWER: THE ELECTRICITY BUSINESS BEHIND NIGERIA'S POWER PROBLEM 435 MW of generating capacity, billions in revenue—and a bigger question about whether Nigeria's power market can turn electricity into sustainable cash flow Executive Summary Nigeria's electricity challenge is often described as a problem of insufficient generation capacity. That explanation is incomplete. The country also faces...
OPAY: FROM MOBILE WALLET TO FINANCIAL INFRASTRUCTURE How a fintech platform is reshaping payments, financial inclusion and everyday commerce in Nigeria Executive Summary Nigeria's financial-services industry is undergoing one of its most significant transformations in decades. The bank branch is no longer the only gateway to financial services. Today, Nigerians can transfer money, pay bills,...
ANGLOGOLD ASHANTI: GOLD, GROWTH & THE NEW GEOGRAPHY OF GLOBAL MINING How a historic African mining company is repositioning itself for a new era of gold, capital discipline and responsible resource development Executive Summary Gold mining has always been about more than extracting a precious metal. It is a business of geology, capital, technology,...
BUA GROUP: BUILDING THE INDUSTRIAL BACKBONE OF NIGERIA From Trading to Industrial Transformation: What BUA's Growth Reveals About Building African Business Giants Executive Summary Nigeria has no shortage of entrepreneurs. What it needs—and increasingly needs urgently—is industrial capacity. That distinction makes BUA Group particularly important. Founded in 1988 by Abdul Samad Rabiu, BUA began as a...
Julius Berger Nigeria: Building More Than Infrastructure — The Business of Engineering Nigeria’s Future Executive Summary Infrastructure is one of the clearest physical expressions of economic ambition. Roads connect markets. Bridges connect communities. Airports connect economies. Industrial facilities create productive capacity. And well-designed urban infrastructure can determine whether a growing city becomes an...
