Ngumeni began his role as group CEO of Woolworths on June 1, 2026, following the retirement of Roy Bagattini, who led the company for six years. Since taking over, Ngumeni has initiated changes in the leadership structure.

Woolworths Holdings has revealed a major restructuring of its leadership and operating model, as announced by the new CEO. Details regarding the specific changes and their implications have not been disclosed.

TotalEnergies Marketing Nigeria Plc announced it will not pay a dividend for the financial year ending December 31, 2025, due to significant challenges in the downstream petroleum industry. The company reported a loss after tax of N13.853 billion, a reversal from a profit of N27.496 billion in the previous year, attributed to the ongoing petrol price war.

Woolworths is set to implement changes to its rewards programme, prompting questions about whether customer loyalty is genuinely being rewarded or manipulated. The specifics of the changes have not been detailed, but they aim to enhance the customer experience and engagement with the brand.

Moneyweb interviewed Makwe Masilela of Makwe Fund Managers about markets struggling to find direction at the end of the US earnings season. The discussion covered JSE performance, commodities and resources, China’s weaker-than-expected GDP, the US debt ceiling, share buybacks and Brent crude rising above $90 a barrel amid heightened Gulf tensions, according to the Moneyweb item.

The Miyetti Allah Cattle Breeders Association of Nigeria has raised alarm over rising meat imports into the country, warning of growing challenges facing local livestock production. The group listed rising feed and transportation costs, insecurity, shrinking grazing resources, inadequate infrastructure, limited access to affordable finance and climate change among the factors undermining the domestic cattle industry. The association's concerns highlight pressure on Nigeria's livestock sector as imported meat increasingly competes with local supply.