August 2017 African Business News


Kenya Airways planes at Nairobi's Jomo Kenyatta International Airport

Kenya is king of domestic air travel in Africa (Infographic)

When it comes to domestic air travel in Africa, Kenya’s capital Nairobi is king.

Nigerian Investor Sets Up $135 Million Commodities Exchange

Nigerian Investor Sets Up $135 Million Commodities Exchange

A Nigerian startup is developing a new agricultural commodities exchange in Africa’s most populous country to take advantage of the government’s efforts to boost farming output to reduce reliance on oil.

Angolan billionaire Isabel dos Santos, whose net worth is $3.5 billion, is Africa's richest woman, according to Forbes.

Portugal Dominated Angola for Centuries. Now the Roles Are Reversed

How the roles have reversed: The colonizer, some Portuguese contend, has been colonized.

eBay and MallForAfrica partner to sell African products in the US

eBay and MallForAfrica partner to sell African products in the US

Americans can now buy African goods on eBay through the company’s partnership with MallforAfrica.com.

Aliko Dangote, Chairman, Dangote Group

Africa's Richest Man to Invest Up to $50 Billion in U.S., Europe

Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals.

This South African bank's stock price has jumped 50,000% since 2002

This South African bank's stock price has jumped 50,000% since 2002 (Infographics)

Nothing, outside a financial-market collapse on the scale of the Great Recession, can faze Capitec Bank Holdings Ltd.

Aliko Dangote, Chairman, Dangote Group

Africa's Richest Man Will Fire Wenger If He Buys Arsenal

Nigerian billionaire Aliko Dangote’s first order of business if he succeeds in buying English Premier League soccer club Arsenal will be to fire the manager, Arsene Wenger.

Cape Town, South Africa

The African economy: Better than people think

Analysis of headline GDP figures in Africa would presuppose a region going through a period of prolonged stagnation.

Inside the Durbar festival in northern Nigeria

Inside the Durbar festival in northern Nigeria (Photos)

Nigeria is host to a variety of rich and diverse cultural traditions across its states. Around this time of the year in Northern Nigeria, a part of the country rich with the history of ancient kingdoms, the annual Durbar Festival is celebrated.

Africa property offers rich pickings for the brave

Africa property offers rich pickings for the brave

Some property pundits believe there are major opportunities for investors or companies on the continent.

A.P. Moller raises $550 million for Africa infrastructure fund, targets $1 billion in 12 months. Credit: Instagram/imagesbyomidire/estate intel

A.P. Moller raises $550 million for Africa infrastructure fund, targets $1 billion in 12 months

A.P. Moller Holding, a privately-held investments company with approximately $20bn under management, has launched an Africa-focused infrastructure fund.

Adesola Adeduntan, CEO, First Bank

Nigeria banks trying to stabilize 9mobile ahead of sale, FBN says

Nigerian lenders will try to stabilise the business of 9mobile, the country’s fourth largest telecoms group, until they can find new investors.

Nigerian stocks hit 33-month high on foreign fund buying

Nigerian stocks hit 33-month high on foreign fund buying

Nigerian stocks hit a 33-month high on Tuesday as foreign investors bought shares following improved liquidity on the currency market and a strong half-year performance by listed companies.

Chukwuemeka Odumegwu Ojukwu, Leader of Biafra (1967 - 1970) and son of Nigeria's first billionaire, is perhaps Nnewi's most famous indigene.

What town has produced more billionaires than any town in Nigeria and possibly Africa? Here are 10 of its richest people

The small Nigerian town of Nnewi has more naira billionaires per capita than anywhere else in the country.

Jacob Zuma wants his ex-wife Nkosazana Dlamini-Zuma to succeed him as party leader

Can Nkosazana Dlamini-Zuma succeed her ex-husband as South Africa's president?

South Africa’s President Jacob Zuma is keen to hand over the reins of power to the mother of his children.

President Uhuru Kenyatta wins second term in Kenya elections

President Uhuru Kenyatta wins second term in Kenya elections

President Uhuru Kenyatta won re-election in Kenya on Friday, defeating veteran opposition leader and longtime rival Raila Odinga in a tense contest.

Standard Bank Starts Prime Brokerage on South Africa Hedge Funds Growth Bet

Standard Bank Starts Prime Brokerage on South Africa Hedge Funds Growth Bet

Standard Bank Group Ltd., Africa’s largest lender by assets, plans to start a prime brokerage next month to benefit from regulatory changes in South Africa it expects will boost the hedge-fund industry.

Rita Okuthe, Director of Enterprise Business, Safaricom

Safaricom Sees Amazon as Model for Kenya E-Commerce Platform

Safaricom Ltd. of Kenya plans to introduce an e-commerce platform within eight months targeting formal retail and informal online trading in East Africa’s biggest economy.

Nigeria Moves Closer to Single Naira Rate

Nigeria Moves Closer to Single Naira Rate (Infographic)

Nigeria took a step to unify its multiple exchange rates by allowing banks to use a currency window for investors when quoting the naira rather than the official rate.

Let's rebrand Africa, says Akon.

Let's rebrand Africa, says superstar artist and producer Akon (Video)

“The number one brander in the universe is the United States, ” said Akon at the insightful, entertaining, applause-heavy talk he delivered at the recent YouthConnekt Africa Summit ’17 in Kigali, Rwanda.

Flutterwave raises over $10 million in series A financing

Flutterwave, an online payments company founded by Nigerian 26-year old, raises over $10 million in series A financing (Infographic)

Flutterwave, which provides modern payments infrastructure for banks and businesses to make and accept payments across Africa, announced on Monday that it has raised over $10 million in a Series A round of funding.

Iyinoluwa Aboyeji, the 26-year old Founder of Flutterwave and Andela

26-year-old founder wants to transform online payments in Africa

Aboyeji is the Co-Founder of Flutterwave, a payments API that makes it easier for banks and businesses to process payments across Africa.

Kenyan pride

It took moving to America for me to change my colonized name: Ciku Kimeria, Africa Regional Communications Manager, Dalberg

“Kah-ri-ye!!” That is my earliest memory of hearing my English name spoken and it dates to the early 90s on the field at my primary school in Nairobi.

9mobile

Virgin, Vodacom and BUA Group eye former Etisalat Nigeria unit

Virgin Mobile and Vodacom, as well as Bua Group, are among companies interested in acquiring 9mobile, formerly Etisalat Nigeria, according to ThisDay.

Boye Olusanya, CEO, 9mobile. Credit: This Day

Former Etisalat Nigeria, 9mobile, is open to new investors, says CEO Boye Olusanya

Telecoms group 9mobile is open to new investors but will continue to manage the business in the meantime, its chief executive said on Wednesday at an event to officially announce the company’s new name to replace Etisalat Nigeria.