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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.

FIFA confirms nine places for Africa at 2026 World Cup

FIFA confirms nine places for Africa at 2026 World Cup

Africa could have as many as 10 teams competing at the 2026 World Cup after the allocation for places at the expanded 48-nation competition was ratified by the FIFA Council during their meeting in Bahrain.

Carole Wamuyu Wainaina, incoming COO, Africa50 Infrastructure Fund

Carole Wamuyu Wainaina is Named Chief Operating Officer for Africa50

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 23 African countries, and two African Central Banks, has appointed Carole Wamuyu Wainaina as Chief Operating Officer.

Nando's considering IPO

Soon You Could Buy Shares in Nando's

Nando’s Group, the South African fast-food company known for its spicy chicken and fries, is considering a London Stock Exchange IPO, according to people familiar with the matter.

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.

Abuja, Nigeria

Abuja, Nigeria's original startup city is making a big play for Africa's young tech entrepreneurs

When most people think of Nigeria having an ecosystem of innovation and technology they instinctively think of Lagos, and understandably so.

Justin Clarke, CEO, One Africa Media & Acting CEO, Ringier One Africa Media

Ringier Africa and One Africa Media form joint venture

Ringier Africa and One Africa Media (OAM) have agreed to merge their pan-African Classifieds assets to create and grow Africa’s largest classifieds group.

Kenya beat Fiji to win first ever World Rugby Sevens Series title

Kenya beat Fiji to win first ever World Rugby Sevens Series title

Kenya dispatched Fiji 30-7 in the final of the Singapore Sevens to secure their first ever tournament win in the HSBC World Rugby Sevens Series.

South African digital insurance distributor Hepstar raises $2M from UK-based Amadeus Capital

South African digital insurance distributor Hepstar raises $2M from UK-based Amadeus Capital

Cape Town-based digital insurance distribution startup Hepstar announces $2 million funding round from UK-based global technology investor, Amadeus Capital Partners.

World Trade Center (WTC) Abuja

Nigeria's new World Trade Center poised to send its economy sky high (Photos)

Nigeria‘s capital city of Abuja is about to get a new heart: a brand new World Trade Center complex. The development is expected to open to the public early next year after the completion of the first phase of construction.

Wellington Jighere beat 129 competitors to become first Nigerian to win World Scrabble Championship.

Wellington Jighere beats 129 competitors to become first Nigerian to win World Scrabble Championship

Nigerians have been congratulating countryman Wellington Jighere, who has become the first African to win the English-language World Scrabble Championship.

Kevin Brady, CEO, A2X Markets

Trader Promises Price War to Undercut Africa's Biggest Exchange

Kevin Brady, once head of equity trading for South African-born bank Investec Ltd., wants to compete with Africa’s biggest and oldest financial market, JSE Ltd.

South Africa's Truworths in talks about $462M bid for British footwear retailer Office

South Africa's Truworths in talks about $462M bid for British footwear retailer Office

South African fashion retailer Truworths International said on Monday it was in talks with privately owned shoe chain Office about acquiring the British company.

Streaming services are targeting Africa as wireless networks become more widespread and reliable, allowing the delivery of video in a region where mobile connectivity growth is one of the fastest in the world. Photographer: Gallo Images via Getty Images

Hong Kong billionaire said to plan South African rival to Netflix

Streaming services are targeting Africa as wireless networks become more widespread and reliable, allowing the delivery of video in a region where…

Nigeria star Asisat Oshoala awarded BBC’s 2015 Women's Footballer of the Year.

Nigeria star Asisat Oshoala awarded BBC's 2015 Women's Footballer of the Year

Nigeria and Liverpool Ladies striker Asisat Oshoala has won the BBC Women’s Footballer of the Year award after a vote by fans around the world, the broadcaster announced on Tuesday.

Author Chimamanda Ngozi Adichie poses with her novel "Americanah" ahead of the 2014 Bailey's Women's Prize for Fiction in London June 4, 2014. She was a 2002 finalist of the Caine Prize. Photo: Neil Hall/Reuters/File

The Caine Prize: Is it the foreign gatekeeper of Africa's fiction?

Since its inception 15 years ago, one of Africa’s most prominent literary prizes has been at the center of debate over what constitutes as African literature. The Caine Prize committee announced its 2015 finalists on Tuesday.

Jobberman

One Africa Media (OAM) acquires 100% stake in Jobberman in merger roll-up

Jobberman is one of the largest job portals in Nigeria. It was co-founded by Opeyemi Awoyemi, Ayodeji Adewunmi, and Olalekan Olude in August 2009. The co-founders launched Jobberman when they were students at Nigeria’s Obafemi Awolowo University.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Nigeria will be among world's 20 largest economies by 2030 (Infographic)

Take a peek at the new world that awaits us. Get ready for a new economic order. In the world 15 years from now, the U.S. will be far less dominant, several emerging markets will catapult into prominence, and some of the largest European economies will be slipping behind.

The Redeemed Christian Church of God annual convention campground near Mowe, on the outskirts of Lagos. Credit: proof.nationalgeographic.com

Church business goes digital in Africa

Mania for Africa-produced mobile apps has spread to the continent’s churches. Almost half of sub-Saharan Africans will be mobile phone users by 2020, according to research by industry body GSMA. Half of those will be smartphone users.

Budget Rent a Car

Avis partners with South Africa's Barloworld to operate Budget car rental brand in southern African countries

Moving ahead with the expansion of its Budget Car Rental brand and further extending itsmulti-brand strategy, Avis Budget Group Inc. (CAR – Analyst Report) penned a deal with Barloworld Ltd. to operate its Budget Car Rental brand in southern Africa.

TYME

Commonwealth Bank of Australia (CBA) acquires Johannesburg-based digital banking startup TYME for undisclosed amount

The Commonwealth Bank of Australia (CBA) has acquired Johannesburg-based startup TYME, which builds and operates digital banking solutions.

Thabo Dloti, CEO of Stanlib. Credit: financialmail.co.za

South Africa's Stanlib seeks property returns abroad as domestic growth slows

A struggling economy is spurring South Africa’s largest real-estate investor to buy the stocks of property companies that are expanding outside the continent’s most developed market.

Johannesburg, South Africa

Investors keep an eye on the big picture in Africa, in spite of short-term challenges

Concerns about the scale of the Ebola crisis and plunging commodity prices would have had investors fleeing Africa not that long ago. But dealmaking in the sub-Saharan region is buoyant as most investors set aside short-term worries and bet big on growth.

Uber

Uber is coming to Kenya, following launches in South Africa, Nigeria, and Egypt

Uber, the rapidly growing taxi app, is preparing to launch in Kenya.

Johannesburg skyline | Source: Shutterstock

In South Africa, more evolution than revolution

When Khanyi Dhlomo opened a plush designer boutique here late last year, it revealed as much about the national psyche as it did about the local fashion industry.

Mercedes-Benz Fashion Week Africa

Africa Fashion Week Showcases the Continent’s Best Talent (Video)

The growing trend of Fashion Weeks across the African continent challenges the notion that global fashion starts in the northern hemisphere.

The Victoria & Alfred (V&A) Waterfront in Cape Town, South Africa

Cape Town, South Africa ranked #1 for best hotels globally

As the new year approaches, many travelers are looking for inspiration on where to head in 2015. This list might help.

Discovery office in Sandton City, South Africa

South Africa's Discovery to buy out Prudential's stake in U.K. venture Prudential Health

Discovery Ltd. (DSY), owner of South Africa’s largest medical-insurance administrator, agreed to buy the 25 percent of the U.K.’s Prudential Health it doesn’t already own for 155 million pounds ($246 million).

There were 66,000 BWM-3 series produced in South Africa in 2013. Of those made for export, the cars were sent to Japan, Australia, Singapore, as well as sub-Saharan Africa.

Car makers in the driving seat of South Africa's economy

The smells of oil, tires and hard work surround Monwabisi Bokwe as he stands on the Volkswagen production line.

Cape Town, South Africa

Top property markets in Africa

Which African countries have the best opportunity for property investors?

Cliff House designed by Stefan Antoni Olmesdahl Truen Architects (SAOTA), Dakar, Senegal

Beautiful design, smart innovation: Africa's most exciting architects

Africa is a land under construction. Last year, over $220 billion was spent on all kinds of building projects in the continent.

Spotify

Spotify in Talks With Vodacom Over Music Deal in Africa

Spotify Ltd. is in talks with Vodacom Group Ltd. (VOD) on a partnership that would mark the music-streaming service’s first foray into the African continent, according to two people familiar with the matter.