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Duet launches new PE fund focused on distressed Nigerian companies

Duet launches $400M private equity fund focused on distressed Nigerian companies

Duet Private Equity has signed an exclusive agreement with the Asset Management Corporation of Nigeria (AMCON) to establish an investment fund focused on Nigeria’s fast-moving consumer goods (FMCG) sector.

Ada Osakwe, Founder & CEO, Agrolay Ventures

How I moved from the public sector to the private sector: Ada Osakwe, Founder & CEO, Agrolay Ventures

I have a first-class degree in Economics from the University of Hull, UK. I have a Master’s degree in Economics and Finance from the University of Warwick, UK, and an MBA from the Kellogg School of Management at Northwestern University, USA.

Not Louise Linton's Zambia. Credit: EPA/Stringer/qz.com

#LintonLies: Louise Linton's "white savior" memoir about her gap year in Zambia has been pulled from shelves

The now infamous memoir, In Congo’s Shadow by Scottish actress Louise Linton, is no longer for sale.

Why online marketplaces are not helping e-commerce grow in Nigeria: Oyihoma Saleh, CEO, Kosava Deals

Why online marketplaces are not helping e-commerce grow in Nigeria: Oyihoma Saleh, CEO, Kosava Deals

Nigerians are certainly warming to the idea of shopping online —  especially through mobile  — and this is widely expected given how suited the concept is for addressing the needs of an underserved population with a fast-growing middle class.

Christy Tawii, Senior Research Analyst, Euromonitor

Cities on the Forefront of Economic Change in Sub-Saharan Africa (Video): Euromonitor

Cities are at the forefront of the impressive economic changes in Sub-Saharan Africa. These urban areas boast larger shares of the region’s middle class and consumer spending.

Chinua Achebe

Chinua Achebe's Things Fall Apart (Audio)

In 1958, Nigerian writer, Chinua Achebe, published his first book “Things Fall Apart”. It was set in pre-colonial rural Nigeria and examines how the arrival of foreigners led to tensions within the Igbo society.

M-PESA customers will soon be able to use debit cards for quicker transactions. Credit: Reuters/Thomas Mukoya/qz.com

Safaricom's M-PESA is getting its own debit card to compete with banks

Safaricom, parent of the M-PESA mobile money platform, is eyeing a piece of the $13.5 billion in annual transactions in Kenya’s payment cards industry with a new debit card.

Bright Africa 2016 - Private Equity: RisCura

Bright Africa 2016 - Private Equity: RisCura (Report)

The increase in private equity fundraising in 2015 is evidence of the strong interest in investing in Africa’s real economy, despite the recent challenges in which many African countries find themselves.

Aliko Dangote (Left), Kola Karim, Temitope Balogun (TB) Joshua & Ade Ayeyemi

How Nigeria's top tycoons made their fortunes

Between the politicians and the rich, there is considerable overlap. Running a political campaign is extraordinarily expensive in Nigeria, and many a senator is heard complaining, in private, about how much money is needed to buy a seat.

Nicky Newton-King, CEO, Johannesburg Stock Exchange (JSE)

Johannesburg Exchange Boss Nicky Newton-King Braces for Competition

South Africa’s stock exchange is getting an upgrade. To keep up with growing competition, the Johannesburg Stock Exchange has embarked on a long-term project to gather all of its markets onto a single, faster trading platform and a new clearing system.

The pool at the Kempinski Hotel Gold Coast City. Credit: Daniel Boshoff/nytimes.com

Accra is Africa's Capital of Cool

With its thriving contemporary art and nightlife scenes, the Ghanaian city of Accra has become a cosmopolitan hot spot. Here’s what to do there.

Africa - The great opportunity

Africa: The great opportunity

Africa is rapidly becoming the global economic growth engine. Half of the world’s 25 fastest-growing nations are in Africa and almost 40 per cent of the continent will achieve GDP growth of more than 5 per cent in 2016.

Dar es Salaam Stock Exchange IPO - Small is Beautiful

The Dar es Salaam Stock Exchange IPO: Small is Beautiful

When markets are moving sideways, like they have in Africa in recent months, it seems the best way to make money in stocks is to own a stock exchange.

Joseph Kitamirike, CEO, ALTX Africa Group

ALTX Africa targets small investors with new Uganda exchange

ALTX Africa launched a new financial exchange in Uganda on Wednesday that will allow investors to trade in small lots, boosting access to financial markets, its chief executive said.

Novare Matola (Illustration), Maputo, Mozambique

Novare Africa Property Fund II closes with $350 million for investment

Novare Africa Property Fund II, the fund with a mandate to invest in retail and commercial real estate in sub-Saharan Africa outside of South Africa, has announced its final close at the end of June 2016.

OR Tambo International Airport, Johannesburg. By 2018, a cross-continent passport may be available to all African citizens. Photograph: Alamy

As the UK shuts itself off from Europe, the African Union rolls out a passport for the continent's 54 countries

This weekend the African Union unveiled an e-passport that will hopefully be available to all citizens of member states by 2018.

Why African Entrepreneurship Is Booming

Why African Entrepreneurship Is Booming: Ndubuisi Ekekwe, Founder, African Institution of Technology

Last month, I visited my village of Ovim in Southeastern Nigeria. I met a painter who also manufactures the paint he uses for his work.

Building the Entrepreneurial Base in Africa

Building the Entrepreneurial Base in Africa: J. Eric Wright, Chairman, Africa Venture Partners

J. Eric Wright was headed for Wall Street until he decided to take a year off in Africa. That short jaunt has stretched into nearly three decades on the continent — and led him to his life’s work.

Kunle Afolayan at the Murtala Muhammed International Airport in Lagos for the premiere of his new film, The CEO. Photograph: Stefan Heunis/AFP/Getty Images

Premiere on a plane: How Nollywood is aiming mile-high

The world’s most prolific film industry may be beset by problems, but director Kunle Afolayan is hoping to help it take off.

Nissan Pathfinder: Nissan is one of a handful of vehicle manufacturers now assembling automobiles in Nigeria

Nigeria will be Africa's next automotive hub (Report): PwC

Nigeria has the potential to become the hub of Africa’s automotive industry. Home to an estimated 170 million people, over 40 million of who are in the growing middle class, the continent’s largest economy is increasingly seen as an attractive destination for investors across all sectors.

Saxon Hotel, Villas and Spa, Sandhurst, Johannesburg, South Africa

10 Myths of Hospitality Development in Africa (Report): Hotel Partners Africa (HPA)

There’s a lot happening in Africa! In 2015, a survey by W Hospitality Group counted 215 hotels in the chains’ development pipelines, with almost 40,000 rooms.

Ethiopian Airlines

The future of aviation in Africa (Video)

Africa is “the next and last frontier in globalization,” according to Tewolde Gebremariam, CEO of Ethiopian Airlines, who says that developing the aviation industry will be vital.

Runway from a recent Lagos Fashion & Design Week event. Credit: lagosfashionanddesignweek.com

Nigerian Fashion Getting Ready for Growing Demand (Video)

The Nigerian fashion industry has a problem that might not look like one: it is struggling to meet the demand.

AIG is the parent company of Jumia, one of Africa’s leading e-commerce firms.

CDC invests €50M in Africa Internet Group

CDC, the UK’s development finance institution, recently announced a EUR50m equity investment in Africa Internet Group (AIG).

Jason Njoku, Founder & CEO, iROKOtv

Five hardest lessons from a Nigerian startup perspective: Jason Njoku, Founder & CEO, iROKOtv

Below are some musings of an entrepreneur who tends to err on the side of negativity. However, I’m an eternal optimist, really, when it comes to doing business in Nigeria.

A black child and a white woman hold hands in Bamako, Mali

#LintonLies: Louise Linton just wrote the perfect White-Savior-in-Africa story

If there is one media narrative about Africa that refuses to be squashed, it’s the White-Savior-in-Africa bug.

BalogunMarket.ng - The African Future Is Digital

The African Future Is Digital: Victor Asemota

WhatsApp? What is That? A couple of years ago, one of our Managing Consultants was in South Africa. She had decided to buy a local SIM instead to save cost on roaming.

‘Waking up to another nauseating white savior cinematic plot’, wrote one Zambian user on Twitter. Photograph: Yvette Cardozo/Getty Images

#LintonLies: Zambians hit back at white savior gap year memoir

Western writer sparks social media storm over book outlining her experiences of war, spiders and ‘smiling children with HIV’.

A Diageo factory in Accra, Ghana, produces Orijin Bitters. Credit: wsj.com

Why Diageo, PZ Cussons, and Atlas Mara are betting big on Africa

As growth in China slows after two decades of breakneck economic development, Western companies are increasingly turning towards India and Africa as the next great untapped opportunities.

Louise Linton

#LintonLies: Delusional White Woman Louise Linton Draws Ire of African Twitter for Egregious “Zambian Memoir”

On Friday, The Telegraph ran what has to be the dumbest, most egregious piece of writing on Africa of the 21st century.