September 2014 African Business News


US-Africa Business Forum - An interview with Aliko Dangote, CEO of Dangote Industries, and Stephen Schwarzman, CEO of Blackstone

US-Africa Business Forum: An interview with Aliko Dangote, CEO of Dangote Industries, and Stephen Schwarzman, CEO of Blackstone (Video)

Dangote Group President and CEO Aliko Dangote, Blackstone CEO Stephen Schwarzman and Brian Herlihy of Black Rhino announce and discuss new deal at the U.S.-Africa Business Forum.

Strive Masiyiwa, Chairman, Econet Wireless Group

US-Africa Business Forum: An interview with Strive Masiyiwa, Chairman of Econet Wireless, and Isis Nyong'o Madison, Principal at Asphalt & Ink (Video)

Strive Masiyiwa, Group Chairman of Econet Wireless International, and Isis Nyong’o Madison, a Kenyan-American who advises companies on investments in Africa talk about how the Internet and mobile devices are helping tie African countries together and overcome geographic barriers.

James Mwangi, CEO, Equity Bank

US-Africa Business Forum: An interview with James Mwangi, CEO of Equity Bank, and Tom Klein, President & CEO of Sabre (Video)

James Mwangi, President and CEO of Equity Bank Group in Kenya, and Tom Klein, President and CEO of Sabre, discuss how Africa’s young population – average age 25 – is enabling faster adaptation and adoption of new technologies.

Donald Kaberuka, President of the African Development Bank

US-Africa Business Forum: An interview with Donald Kaberuka, President of the African Development Bank, and John Simon, Former US Ambassador to the Africa Union (Video)

Donald Kaberuka, president of the African Development Bank, and John Simon, former U.S. ambassador to the African Union, discuss the key challenges for Africa in the next 10 years.

Maitama Sule, Nigeria's former Federal Commissioner of Public Complaints

History of Nigeria: WePictureNigeria Documentary - Episode 1 (Video)

Interviews with Maitama Sule, Chidi Odinkalu, Inuwa Wada and Tanko Yakasai.

Bob Diamond, CEO of Atlas Mara and Former CEO of Barclays

Bob Diamond in talks to buy stake in Nigeria's Union Bank

Atlas Mara, the African investment vehicle of former Barclays boss Bob Diamond, is in talks to buy a $275 million stake in Union Bank of Nigeria , a person familiar with the matter said on Thursday.

Mobile Network Towers

MTN Nigeria to transfer up to 9,151 towers to IHS-MTN joint venture

In line with continued efforts to further raise service levels for its customers in Nigeria, MTN has reached an agreement in principle with IHS Holding Limited (“IHS”) for the transfer of its towers business, comprising of up to 9,151 of MTN’s mobile network towers in Nigeria.

Nigerian Real Estate

High stakes for high reward? Real estate funds come to Africa

High stakes for high return, if you can stick it out for the long term – investors are buying into a boom in sub-Saharan African real estate.

Amir H. Amiri, Executive Director, Kouros Capital Group Limited (Left) and Chief Etiebet of Dextel (Right)

Iran's Kouros Capital interested in Nigeria's NITEL and Bridge Banks

Iranian investors under the Iran-Nigeria Investment Corporation and led by Kouros Capital Group (KCG) have expressed interest in NITEL and the bridge banks whose privatisation has lingered.

Nairobi Securities Exchange (NSE)

Nairobi Securities Exchange (NSE) IPO raises $7M for expansion

The Nairobi Securities Exchange (NSE) has raised 627 million Kenyan shillings ($7.1 million) for expansion in an oversubscribed initial public offering as part of plans to demutualise the bourse.

A customer transfers cash to his mobile phone in Kenya's capital Nairobi

Mobile Money: The Battle for Africa

As enthusiasm for mobile-phone-based payments grows in Africa, operators are rushing to get a piece of potentially lucrative and ever-expanding markets and to challenge more popular and established mobile-payment services, such as Kenya’s M-Pesa.

Mohammed Wakil, Nigeria's Minister of State for Power

Nigeria to open up power transmission to private investors: Mohammed Wakil, Nigeria's Minister of State for Power

The Federal Government on Monday said it had opened up the transmission arm of the power sector to private investors.

Central Bank of Nigeria (CBN), Abuja

Nigeria's Too Big to Fail Bank Rules Spur Bond Sale Rush

Nigerian lenders are gearing up to sell the most debt in four years to bolster cash reserves, taking advantage of a drop in borrowing costs before the central bank increases how much capital they need to hold.

Rosemary Mbabazi, Rwanda's Permanent Secretary at the Ministry for Youth and ICT

Government services in Rwanda go digital

The Rwanda Development Board (RDB) and Rwanda Online Platform Limited have begun implementation of the Rwanda Online Platform, aimed at creating a unified public services platform and bringing government services online.

Wi-Fi

How Tizeti Is bringing affordable, uncapped Wi-Fi internet with US IP addresses to Nigeria

You know that giddiness you feel when you’re staying at a hotel that offers free and decent WiFi?

Esther Muchemi, CEO, Samchi Group

How Esther Muchemi's early bet on the growth of mobile telecoms paid off

In 2000 there were just 10m mobile phone subscribers in Africa.

DEMO Africa

Microsoft sponsors DEMO Africa 2014

Microsoft Corporation has announced it is a platinum sponsor of 2014 DEMO Africa that will be held later this month in Lagos, Nigeria.

Charles Ifedi, CEO, Verve International

Nigeria's cashless policy a cornerstone of economic development: Charles Ifedi, CEO, Verve International

The Central Bank of Nigeria’s (CBN) cashless policy is the key to the country’s fast economic development, according to Charles Ifedi, chief executive officer (CEO) of Verve International.

Mobile phone usage in Sub-Saharan Africa is experiencing high growth rate

Sub-Saharan Africa's telecoms market is growing faster than that of any other global region and will top $65B billion by 2018: Analysys Mason

The African telecoms market is set to be one of the main growth success stories for the telecoms sector in the next 5 years, according to a new report entitled Sub-Saharan Africa telecoms market: trends and forecasts 2013–2018.

Africa's emerging consumer middle class

Africa's middle-class boom is real, study shows - and it's gaining speed: Simon Freemantle, Senior Political Economist, Standard Bank

The rise in Africa’s middle class has been over-hyped in recent years, but it is still a genuine phenomenon that is generating huge commercial and political opportunities, a new study says

PayPal's partnership with FNB has created 1 million customers in South Africa

PayPal's partnership with FNB has created 1 million accounts in South Africa

PayPal said it has opened over 1 million accounts in South Africa since its launch with First National Bank (FNB) in 2010.

Grant Cullens, CEO, African Alliance Asset Management

South African funds don't invest in their backyard

It is not just European and U.S. pension funds that are slow to invest in the opportunities available on the Africa continent: South Africa-based funds also need encouragement.

Hyundai Truck

Hyundai opens first car assembly plant in South Africa

South Korean car manufacturer Hyundai Motor Co. has started production at its first assembly plant in South Africa, initially building medium-sized commercial trucks, a company spokesman said on Tuesday.

Equity Bank

Banks Vie for a Piece of Africa's Mobile Banking Market

George Kabiria, who makes decorative sculptures for this city’s lush garden homes, recently sold a small iron frog to a customer through M-Pesa, Kenya’s most popular mobile-payments service.

Kunmi Otitoju, Founder, Minku

Meet The Nigerian Fashion Designer Building Africa's Hermès: Kunmi Otitoju, Founder, Minku

Kunmi Otitoju, a 30-year-old Nigerian fashion designer and entrepreneur, holds two Computer Science degrees – a Bachelor of Science degree with first-class honors from Howard University and a Master of Science degree from Virginia Tech.

Bosun Tijani, CEO and Co-Founder, CcHUBNigeria

Nigeria's CcHUB launches $500K investment fund

Lagos-based incubator hub, the Co-Creation Hub (CcHUB), has launched a $500,000 seed investment fund to help early-stage-startups.

Coca-Cola Bottles

Coca-Cola's $5B investment in Africa impacts its stock price

Coca-Cola and Pepsi have been battling for global soft drink supremacy since the latter part
of the 19th century.

Ziad Dalloul, CEO of Africell

Telco Disruptor Africell Looks for Gaps Amongst Giants

Africell, a small African mobile telecommunications company run from Lebanon, is planning to expand across Africa’s fast-growing telecommunications markets

Gilat Satcom

Israeli company Gilat Satcom expands its fiber network into and within Nigeria to meet growing demand from businesses of all sizes

Gilat Satcom, a leading provider of satellite and fiber-based connectivity services in Africa, Asia and the Middle East, today announced new fiber routes within and beyond Nigeria.

Washist.com

Online laundry platform Washist.com launches in Lagos

Online on-demand laundry service Washist.com has launched in Lagos, Nigeria, offering busy professionals increased efficiency in getting their laundry done.

Chinedu Nebo, Nigeria's Minister of Power

Nigeria's electricity generation capacity has risen to 4,500 MW: Chinedu Nebo, Nigeria's Minister of Power

Nigeria’s electricity generation profile has again risen to approximately 4500 megawatts, in addition to excess considerable spinning reserve, the Minister of Power, Prof. Chinedu Nebo said yesterday in Abuja.

Madhur Taneja, CEO, yuMobile

Safaricom and Airtel acquire yuMobile for $120M

Kenyan mobile operators Safaricom and Airtel have signed an agreement to acquire the telecom business of yuMobile for $120 million, it was announced on Monday.

Where in Africa would you invest $1 million

Expert opinion: Where in Africa would you invest $1 million?

On Wednesday, some of Africa’s most influential investors gathered in Sandton to discuss the continent’s economic future – and, of course, how to profit from it.

Tony Elumelu, Chairman of Heirs Holdings, Transcorp and UBA

Tony Elumelu: The Africapitalist who wants to power Africa

You’ve probably heard by now about the Afropolitans and the Afropreneurs — but what about the Africapitalists?