News & Features from Staff Writer 2


Jeff Schlapinski, Director of Research, EMPEA

Private equity investment in Africa heats up as pension funds stay local

African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature.

Will he cash in on Africa's real estate boom?

Will he cash in on Africa's real estate boom?

You’ve heard it before: Africa, the new investment frontier! Risky, but high reward potential, the mantra goes of emerging markets — particularly in Africa, home to 13 of the 20 fastest-growing economies in the world.

Safaricom

Africa's largest companies are growing faster than their global peers, says new McKinsey report (Infographic)

Large companies in Africa are growing faster than their peers in the rest of the world, raking in $1.4 trillion in annual profits and contributing to government taxes and higher wages, a new McKinsey report finds.

Visa launches mobile money service mVisa to rival Safaricom's M-PESA

Visa launches mobile money service mVisa to rival Safaricom's M-PESA

Visa Inc., the world’s largest payments network, introduced a mobile-phone application to enable cashless transactions in Kenya, where the majority of wireless payments are being done through the nation’s biggest telecommunications company, Safaricom Ltd.

Volkswagen Polo Vivo

Volkswagen expands Africa strategy with Kenya car assembly plant

Volkswagen continues to drive forward with the regionalization of the global automotive business. The brand is planning to start production of the Polo Vivo in Kenya at the end of 2016.

Lake Heights Hotel, Entebbe, Uganda

BON Hotels takes on second property in East Africa: Lake Heights Entebbe

With the ink just dry on the BON Hotel Addis Ababa contract, BON Hotels, a hospitality company that owns, manages and markets hotels throughout South Africa and the rest of the continent, has taken on a second property in East Africa.

Chidi Mokeme (L) and Ramsey Nouah, in the Izu Ojukwu-directed movie '76

Nigeria's Nollywood showcases its massive potential at Toronto Film Festival (Video)

At times it feels like Nollywood has been around forever, such has been the Nigerian movie business’ impact on pan-African pop cultures and awareness around the world—and in Nigeria itself.

7 Reasons to Be Bullish on MTN Group

MTN Nigeria said to target $1 billion in Nigerian Stock Exchange IPO

MTN Group Ltd., Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about $1 billion in an initial public offering.

IrokoX

iROKO launches IrokoX online portal to showcase Africa's creative talent

Africa’s artists have a new online stage to showcase their talent. Nigeria based digital entertainment startup Iroko has launched IrokoX, a multi-platform Pan-African network for filmmakers, musicians, and other creative aspirants to produce, distribute, and monetize short-form content.

Wizkid: The Nigerian artist is set to sign the biggest record deal ever by an African artist

Wizkid is set to sign the biggest record deal ever by an African artist

Wizkid has pretty much cemented his place as top dog on the scene. The Nigerian star’s adding another notch on his belt with these new reports that he’ll be signing a multi-million dollar deal with a major record label imminently.

Ivory Coast’s Yaya Toure reportedly earns in excess of $300,000 per week at Manchester City.

These are Africa's highest-paid footballers (Video)

The football season in Europe has started with a bang. Premier League clubs spent over a billion dollars in the summer transfer window, with 13 clubs breaking their spending records.

Four Points by Sheraton Lagos Nigeria

Starwood Hotels ramps up Nigeria portfolio with new Four Points in Benin City

Accelerating growth in emerging markets across the globe, Starwood Hotels & Resorts Worldwide, Inc. recently announced the signing of Four Points Benin City, Nigeria.

Nigeria's Startups Get Boost from Buhari, Zuckerberg

Nigeria's Startups Get Boost from Buhari, Zuckerberg

Nigeria has a growing technology scene full of ambitious young entrepreneurs who are seeking out solutions to various social challenges.

How to begin investing on the Nairobi Securities Exchange

How to begin investing on the Nairobi Securities Exchange

Kenya boasts a diverse economy, improving infrastructure, and a young, dynamic population. However, Kenyan stocks are trading at multi-year lows, offering investors a great entry point for exceptional long-term returns.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Aliko Dangote to invest $170M in rice & sugar production in Nigeria

Aliko Dangote, Africa’s richest man, has announced that he will invest more than $170 million in the production of rice and sugarcane in Nasarawa state, north-central Nigeria.

The images of Igbo before: An interview with Chiadikobi Nwaubani, Founder of Ukpuru

The images of Igbo before: An interview with Chiadikobi Nwaubani, Founder of Ukpuru

Culture is always evolving and changing. Like Chimamanda Adichie said, “Culture does not make people, people make culture.”

Mark Zuckerberg's trips to Nigeria and Kenya track tech's growing interests on the continent

Mark Zuckerberg's trips to Nigeria and Kenya track tech's growing interests on the continent

After a surprise Nigeria visit to meet with techies in Lagos, Mark Zuckerberg took his Africa tour to Kenya this Thursday.

Bugesera International Airport (Illustration)

Rwanda signs $818M deal for new international airport

Rwanda has signed a deal with the African division of Portuguese construction firm Mota-Engil to build an international airport at a cost of $818 million, the company and government officials said.

Protest over Afros and black hair in South African schools cause outcry

Protest over Afros and black hair in South African schools cause outcry

A hairstyle should not have to be a radical political choice, especially for a girl only just beginning to navigate high school.

Mark Zuckerberg has made a surprise visit to Nairobi to learn about mobile money

Mark Zuckerberg has made a surprise visit to Nairobi to learn about mobile money

On his surprise tour of tech hubs in Africa, Mark Zuckerberg has made a pit stop in Nairobi.

It looks like Mark Zuckerberg is having a blast in Nigeria

It looks like Mark Zuckerberg is having a blast in Nigeria

Facebook CEO Mark Zuckerberg is currently visiting Lagos, Nigeria for his first trip to Sub-Saharan Africa.

Tony Elumelu, Chairman of Heirs Holdings & UBA

Nigeria has officially entered a recession + Interview with UBA Chairman Tony Elumelu (Video)

Nigeria’s economy has officially entered a recession. The latest growth figures shows the economy shrunk by 2.06% between April and June.

Juliet Anammah, CEO, Jumia Nigeria

How e-commerce can lift Nigeria's economy: Juliet Anammah, CEO, Jumia Nigeria

Juliet Anammah, Jumia’s CEO, Nigeria‘s leading online shopping platform, cut her teeth in corporate management at May & Baker Plc where she worked for eight years. Her experience in strategic management at Accenture equally molded her for the challenging task of ensuring that Jumia succeeds in Nigeria.

Zuckerberg's visit is a validation for betting big on Nigeria's tech industry

Zuckerberg's visit is a validation for betting big on Nigeria's tech industry (Video)

Facebook Founder, Mark Zuckerberg, has had a busy time, so far, in Lagos. He visited the Co-Creation Hub (Cc Hub), Nigeria’s leading technology incubator-turned-accelerator in Lagos’ Yaba neighborhood, a Silicon Valley-style ground zero.

Facebook's Mark Zuckerberg visits Nigeria in African knowledge quest

Facebook's Mark Zuckerberg visits Nigeria in African knowledge quest

Facebook founder and CEO Mark Zuckerberg is currently on a business trip to Africa, according to his Facebook page. Zuckerberg stopped over in Nigeria, Facebook‘s largest African market, to learn more about the country’s development and startup scene.

Paga agent: Mobile money is catching on. Credit: qz.com

Nigerians are finally using mobile money services

It took a while to catch on but Nigerians are finally using mobile money. Over the past decade, financial institutions and telecoms operators, sometimes in collaboration, as well as standalone firms have tried to deploy mobile money services in Africa’s largest economy with mixed success.

Jason Njoku, Founder & CEO, iROKOtv

Disruptive technology is all about timing: Jason Njoku, Founder & CEO, iROKOtv

I’ve lived back in Nigeria for six years now, fully entrenched in the ways, means and cultural idiosyncrasies of doing business in Africa’s largest economy. Or so I thought …

World Scrabble champion Wellington Jighere, 33, (right) is one of Nigeria's many masters. His strategy: "When you are expecting me to do the traditional thing, I will just choose to do something that is uncharacteristic."

Fact of the Day: Nigeria is the number one scrabble nation in the world (Audio)

Nigeria is the English-speaking world’s Scrabble superpower. Africa’s most populous nation is home not only to the global Scrabble champion, but team Nigeria ranks as the world’s top Scrabble playing nation — ahead of the U.S. in second place.

Africa vs USA - Actual Size

What's the real size of Africa? How Western states used maps to downplay size of continent (Photos)

On a typical world map, Canada is a vast nation. Home to six time zones, its endless plains spread from ocean to ocean, dominating great swathes of the northern half of the globe. But, in reality, three Canadas would comfortably fit inside Africa.

Here are the top 10 Sub-Saharan African cities for consumer spending growth (Infographic)

Here are the top 10 Sub-Saharan African cities for consumer spending growth (Infographic)

An extensive overview of 24 first- and second-tier cities in Cameroon, Kenya, Nigeria and South Africa in a recently published white paper reveals particularly dynamic growth shifting from the region’s mature consumer markets in South African metropolises to the urban areas in other Sub-Saharan countries.

iHub, Nairobi, Kenya

A few things we learned about tech hubs in Africa: GSMA (Infographic)

The last mapping exercise done by the World Bank in September 2015 listed less than 120 tech hubs in Africa. As of July 2016, GSMA’s research suggests there are 314 active tech hubs in Africa.

Diane Radley, Old Mutual Investment Group

Why Old Mutual is investing millions in Nigeria's property and agriculture markets

This month, South African financial services firm Old Mutual Investment Group announced a partnership with Nigeria’s sovereign wealth fund for the investment of US$700m in real estate and agriculture.

Tech companies help foster the startup ecosystem in Africa. Credit: Reuters/Thomas Mukoya/qz.com

Half of the tech hubs in Africa are located in South Africa, Kenya, Nigeria, Egypt and Morocco

A total of 314 tech hubs and incubation centers was recorded in July by the global telecoms industry body GSMA’s Ecosystem Accelerator, a program that works to enable partnerships between operators and developers on the continent.

Deepak Malik, Africa Regional Director, Norfund

Norway-Backed Fund on Hiring Spree in Africa Finance Venture

A new development-finance venture that will control banking and other assets worth more than $660 million across sub-Saharan Africa plans to hire as many as 20 people including analysts to manage its investments and help it spend another $300 million on acquisitions.

Davido: “Most music that comes out these days has our elements already in it, so why wouldn’t the people love African music?” (Tom Oxley/Washington Post)

Is this the year that African music will conquer the United States?

Whether it’s through hip-hop, R&B, Top 40 radio or Internet memes, Drake is a ubiquitous presence on our cultural landscape. Yet for all of his inescapable hits in the past few years, it was only in May that Drake finally topped the Billboard charts.

South Africa Leapfrogs Nigeria: Back to No. 1 spot in Africa on currency fluctuations. Credit: Bloomberg/IMF

South Africa's economy regains rank as Africa's biggest on rand appreciation (Infographic)

South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigeria’s snacks industry has attracted the interest of a private equity firm founded by Sir Bob Geldof in a boost for Africa’s biggest economy.

BON Hotel Addis Ababa

BON Hotels extends its footprint into Ethiopia

BON Hotels, a hospitality company that owns, manages and markets hotels throughout Africa, has added yet another property to its ever-growing stable.

Wayde van Niekerk of South Africa (Left), who set a world record in the men’s 400m, with Kirani James of Grenada. Credit: Doug Mills/nytimes.com

Wayde van Niekerk of South Africa zips to world record in 400m

Bursting out of the blocks in Lane 8, Wayde van Niekerk of South Africa did not see another runner during the entire Olympic 400-meter final.

Agbogidi Obi James Ikechukwu Anyasi II

Kingdoms, thrones and crowns: Inside the lives of Nigeria's monarchs (Photos)

The country’s traditional rulers were stripped of their constitutional power in 1963, but their descendants still serve as the local custodians of law and order.

Iyinoluwa Aboyeji, Co-Founder, Andela. Credit: thescoopng.com

Andela Co-Founder Iyinoluwa Aboyeji is leaving to start payments company Flutterwave

Just eight weeks after raising $24 million in a funding round led by Mark Zuckerberg’s foundation, Andela, one of Nigeria’s best-known startups, is saying goodbye to its co-founder Iyinoluwa ‘E’ Aboyeji.

Jumia staff in Lagos, Nigeria

The web startups looking to cash in on 1 billion African consumers (Photos)

It is a cliched image. Passengers lined up at the check-in desk for various flights back to African capitals, trolleys overloaded and suitcases straining at the weight limit.