March 2015 African Business News


Nigeria's opposition presidential candidate, Muhammadu Buhari, of the All Progressives Congress (APC)

5 Things to Know About Muhammadu Buhari

Officials on Tuesday began tallying the remaining votes cast in Nigeria’s presidential election, after former military dictator Muhammadu Buhari took the lead with about half the country reporting.

#RhodesMustFall: A student wears a sticker calling for the removal of a statue of Cecil John Rhodes from the campus of the University of Cape Town March 20, 2015.

University of Cape Town boards up statue of Cecil Rhodes

A colonial-era statue of Cecil Rhodes on a South African university campus has been boarded up after student protesters demanded its removal.

Attahiru Jega, Chairman, Nigeria's Independent National Electoral Commission (INEC)

Nigeria's man of the moment: INEC Chairman Attahiru Jega

Professor Attahiru Jega’s tenure as President of the Academic Staff Union of Nigerian Universities (ASUU) coincided with the military regime of Ibrahim Babangida, a period in which, according to one University professor quoted at the time, “practically all the factors that make a university autonomous have been interfered with by one decree or the other.”

Muhammadu Buhari waves to supporters after voting in his hometown of Daura in northern Nigeria.

Muhammadu Buhari: reformed dictator returns to power in democratic Nigeria

Muhammadu Buhari, Nigeria’s presidential election winner, who put hundreds of people behind bars after taking power in 1980s coup, has persuaded voters he is a changed man.

South African Trevor Noah to replace Jon Stewart on The Daily Show

South African Trevor Noah to replace Jon Stewart on The Daily Show

South African comedian Trevor Noah is to replace Jon Stewart on The Daily Show, the New York Times reports.

Chinua Achebe

Chinua Achebe: After Empire - An interview with The New Yorker from 2008

In a myth told by the Igbo people of Nigeria, men once decided to send a messenger to ask Chuku, the supreme god, if the dead could be permitted to come back to life.

The Abraaj Group

Private equity firm Abraaj raises $1.3B for Africa investment

Emerging markets private equity group Abraaj has raised more than $1.3bn for two funds investing in Africa, the largest amount amassed for direct deals across the continent, people aware of the matter say.

Ethiopian Airlines in talks to set up national carriers in Nigeria, Uganda, South Sudan & the DRC

Ethiopian Airlines in talks to set up national carriers in Nigeria, Uganda, South Sudan & the DRC

Ethiopian Airlines Enterprise, East Africa’s biggest carrier by revenue, is considering proposals to help set up national airlines in Nigeria and three other countries to expand its operations on the continent.

The 10 best things about Nigeria are ...

The 10 best things about Nigeria are ...

Nigerians often complain about the negative portrayal of their country in the international media which often focuses on corruption and violence.

Unilever CEO Paul Polman (L) and Lagos Governor Babatunde Fashola: Polman visited Nigeria last year to reaffirm the company's commitment to the country.

Unilever looks to invest €200M in its Nigeria business to maximize equity stake

Unilever Overseas Holdings B.V. has announced its intention to make an offer to increase its equity stake in Unilever Nigeria PLC as it looks to grow its business in the country and continue its long term commitment in African markets.

Elections in Nigeria. (AP Photo/Kunle Ogunfuyi)

Now that votes are in, the dangerous part of Nigeria's election has begun

After waiting in long lines around the country over the past two days to vote, Nigerians are engaged in another long wait—to find out who will lead their country for the next four years.

Harvard African Development Conference (ADC) 2015

Looking South – Moving Forward: Fostering Development Collaboration within the Global South - Harvard will host 6th Annual African Development Conference (ADC) on April 3-4

Harvard will host the 6th Annual African Development Conference (ADC) on April 3-4. The event will assemble major players and stakeholders across the private sector, civil society, government and academia, to discuss …

Africa is the horizon - 2015 African Business Outlook Survey - The Economist Corporate Network

Africa is the horizon - 2015 African Business Outlook Survey: The Economist Corporate Network (Infographics & Report)

In 2015, Sub-Saharan Africa’s GDP is expected to grow at 4.5%, making it the fastest-growing economic zone in the world, outpacing Asia’s regional average of 4.3% annual growth. Continued steady growth in Africa will result in an economic bloc with global impact over the next two decades.

Kuben Naidoo has been named Deputy Governor of the South African Reserve Bank effective April 1st, 2014.

Kuben Naidoo named Deputy Governor of South African Reserve Bank

South African President Jacob Zuma appointed Kuben Naidoo, an adviser to Reserve Bank Governor Lesetja Kganyago, as deputy of the central bank from April 1.

Campaigners for Goodluck Jonathan. Jonathan is Nigeria's President and the ruling PDP's presidential candidate. Credit: qz.com

Party Politics in Nigeria's Presidential Election

Nigeria is holding elections Saturday following two years of political unrest. Voters will elect both a president and parliament. The ruling People’s Democratic Party, or PDP, is facing its first real test since coming to power in 1999.

MSCI and the Nigerian Stock Exchange sign strategic agreement.

MSCI and the Nigerian Stock Exchange sign strategic agreement on co-branded indexes

MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, and The Nigerian Stock Exchange (NSE), the stock exchange servicing the largest economy in Africa, today announced a strategic co-operation agreement to develop and market a cobranded family of indexes for the Nigerian equity markets.

Chinua Achebe

Chinua Achebe: An African Voice - An interview with The Atlantic from 2000

Chinua Achebe’s emergence as "the founding father of African literature … in the English language," in the words of the Harvard University philosopher K. Anthony Appiah, could very well be traced to his encounter in the early fifties with Joyce Cary’s novel Mister Johnson, set in Achebe’s native Nigeria.

Howard French, Columbia Professor and Author of “China's Second Continent”

Get Africa Right: Columbia Professor and Author Howard French pens rebuking letter to 60 Minutes

We, the undersigned, are writing to express our grave concern about the frequent and recurring misrepresentation of the African continent by 60 Minutes.

Muhammadu Buhari, Presidential Candidate of Nigeria’s All Progressives Congress (APC)

How Nigeria presidential challenger Muhammadu Buhari went from 'ruthless ex-dictator' to 'weak leader'

General Muhammadu Buhari, the former military head of state and presidential candidate of the opposition APC party has a reputation in Nigeria as a no-nonsense hard man earned during his hardline 20-month military government rule from 1984 to 1985.

Renowned Nigeria author, Chinua Achebe, was the winner of the 2007 Man Booker International Prize.

Africans dominate list of finalists for the 2015 Man Booker International Prize

The "Memoirs of a Porcupine," the "Confessions of the Lioness" and the lessons from the Sahara desert are just some of the titles and themes explored by the four authors from Africa who are among 10 finalists for the Man Booker International Prize.

Tony Elumelu, Chairman of Tony Elumelu Foundation, Heirs Holdings, UBA, and Transcorp

Tony Elumelu Foundation selects first batch of 1,000 African entrepreneurs to receive funding

The Tony Elumelu Foundation (TEF) has announced the selection of the first 1,000 African entrepreneurs for the Tony Elumelu Entrepreneurship Programme (TEEP).

National Bank of Canada buys stake in Ivory Coast financial services firm NSIA

National Bank of Canada buys stake in Ivory Coast financial services firm NSIA

National Bank of Canada is expanding beyond its traditional base in Central Canada, buying a stake in a financial services firm based…

The leaders of Egypt, Sudan, and Ethiopia (L-R) - Abdel Fattah el-Sisi (Left), Omar al-Bashir, and Hailemariam Desalegn - sign deal to end Nile dispute.

Ethiopia, Egypt and Sudan sign deal to end Nile dispute

Three African leaders have signed an initial deal to end a long-running dispute over the sharing of Nile waters and the building of Africa’s biggest hydroelectric dam, in Ethiopia.

It's probably the most important advice Nigerian movie superstar Ramsey Nouah ever received: "My friend said," Nouah recalls,"'you look like a great actor, why don't you act?

Ramsey Nouah: We built Nollywood out of nothing - Now we're shooting for the stars

It’s probably the most important advice Nigerian movie superstar Ramsey Nouah ever received: "My friend said," Nouah recalls,"’you look like a great actor, why don’t you act?

Eko Atlantic Beach Polo Tournament

Beach polo in Lagos: Eko Atlantic wants to become the 'Dubai of Africa'

Porsches and Jaguars are parked in the sand while businessmen and their partners, in high heels and hats, sit in the sheltered grandstands, glass of champagne in hand.

Daniel Kablan Duncan, Prime Minister of Ivory Coast

Ivory Coast eyes double-digit GDP growth until 2020, says Prime Minister Daniel Kablan Duncan

Ivory Coast is hoping to achieve double-digit economic growth this year and every year until 2020, Prime Minister Daniel Kablan Duncan said on Tuesday.

Addis Ababa, Ethiopia

Ethiopia launches 4G mobile service in Addis Ababa

Ethiopia’s state-run telecoms monopoly has launched a fourth generation (4G) mobile service in the capital Addis Ababa, aiming to catch up with the high-speed communications available in some east African neighbours such as Kenya and Uganda.

Chinua Achebe. Image credit: newafricanmagazine.com

2 years later: Remembering Chinua Achebe, Nigeria's world-renowned literary icon

It has been two years since the passing of the world-renowned Nigerian literary icon and social critic, Chinua Achebe. The man of letters passed on January 21st, 2013 in a Boston hospital after a brief illness, leaving many Nigerians in shock and rattling the literary world.

A student passes the statue of Cecil John Rhodes at the University of Cape Town. Last week, students threw a bucket of excrement over the statue. Photograph: Schalk van Zuydam/AP

Race and South Africa: The size of an apartheid leader's statue tells you everything you need to know

What is the significance of a former statesman’s statue? This a question that has been doing the rounds in Cape Town in the last couple of weeks.

Chris Folayan, a co-founder of MallforAfrica. Credit Thomas Patterson for The New York Times

Order from Amazon & Macy's in Nigeria: MallforAfrica now delivers over 120 global online retailers to Nigeria

Last year, when Tunde Adebayo needed three inflatable bouncy castles for KidzPlay, his event-planning business in Lagos, Nigeria, he turned to an online shopping service called MallforAfrica.

Africa Internet Group's new offices in Yaba, Lagos, Nigeria

Check out Africa Internet Group's new offices in Yaba, Lagos, Nigeria (Video)

Africa Internet Group (AIG) recently moved its office to Yaba, Lagos, Nigeria. The new office houses six of AIG’s ventures, namely Easy Taxi, Lamudi, Carmudi, HelloFood, Kaymu, and Jovago.

South African mercenaries are reportedly operating in Nigeria's remote north-east, fighting the Boko Haram insurgents.

Mercenaries in Africa: South Africa struggles in vain to ban soldiers of fortune

During the 1980s, Leon Lotz fought for the “Koevoet” (“crowbar” in Afrikaans), a South African apartheid-era paramilitary unit charged with rooting out nationalist guerrillas in what is now Namibia — acting as “the crowbar which prises terrorists out of the bushveld like nails from rotten wood,” in the words of South Africa’s then minister of law and order, Louis le Grange.

Nigerian presidential candidate Remi Sonaiya says "Women cannot keep on being cheerleaders in this country" (AFP Photo/Pius Utomi Ekpei)

Remi Sonaiya: Nigeria's first female presidential candidate done with 'cheerleading'

The two main candidates for the governorship of Nigeria’s Lagos state took to the stage, making a flurry of promises to the all-female audience at the select Cosmopolitan Women’s Club.

A Kenya Airways jet arrives at Jomo Kenyatta International Airport in Nairobi. Africa’s aviation industry is booming. Photograph: Noor Khamis/Reuters

Africa's aviation industry is booming: Opening up Africa's airspace could make sky the limit (Video)

Glancing around a crowded terminal in Kenya’s Jomo Kenyatta airport, one of the busiest international hubs in Africa, it’s obvious that more passengers are streaming to the continent than ever before.

On Twitter, Nando's is the most popular restaurant in the U.K., according to a study by Southampton-based consultancy eDigitalResearch, with twice as many followers as second-ranked Domino’s Pizza Inc. Source: View Pictures/UIG via Getty Images

Spicy Chicken Billionaire Springs From South Africa With Nando's

It’s lunchtime in Cape Town, and a stream of customers are lining up at the Nando’s restaurant on Long Street. A cashier, Zimktha Loza, tries to take phone orders over the din of Portuguese-inspired music.

Pioneer Foods Plans More Africa Purchases After Nigeria Deal

Pioneer Foods Plans More Africa Purchases After Nigeria Deal

Pioneer Foods Ltd., a South African food and beverage producer, plans acquisitions in at least five more African countries after taking a majority holding in Nigerian competitor Food Concepts Plc.

Mansion in Cape Town, South Africa

High-net-worth individuals (HNWIs) from Africa set to double by 2025: Knight Frank's 2015 Wealth Report

African individuals with 30 million US dollars in assets is set to more than double over the next decade, this is according to The Wealth Report 2015.

Solar power plant

Three exciting developments in the solar power space in Africa

The new year may only be a few months old, but 2015 has already ushered in a number of exciting developments in the solar power space in Sub-Saharan Africa.

Stephen A. Schwarzman, Chairman and CEO, The Blackstone Group

Blackstone eyeing power generation and distribution opportunities in Africa: Stephen Schwarzman, Chairman and CEO, The Blackstone Group

Private equity will play a key role in developing Africa given the massive needs for capital on the continent, says Blackstone Group (BX.N), which is focusing on infrastructure projects involving power generation and transmission.

The final look from Nadir Tati’s “40 years Of Independence” collection (Photo Credits: Rui Vasco)

At Portugal's Fashion Week ModaLisboa, It Was Angola That Reigned

It is one of Europe’s longest standing fashion weeks, initiated in 1991, and concluded its 44th edition over the past weekend. ModaLisboa is the bi-annual event in which Portugal’s fashion capital Lisbon gets to show what its local fashion industry is all about.

Solar power plant

Africa's largest money manager to invest in $1.8B solar energy plants in South Africa

The Public Investment Corp., Africa’s biggest money manager, invested in two South African solar-power plants worth 22 billion rand ($1.8 billion) to help boost energy supplies in the continent’s second-biggest economy.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Aliko Dangote may list Nigeria crude refinery once it's profitable

Dangote Group, controlled by Africa’s richest man, may list an oil refinery that it’s building in Nigeria once it becomes profitable.