Benin News

Aliko Dangote, Founder & CEO, Dangote Group

How the Dangote Group will become a $100B business

With a track record exhibiting profound resilience and foresight, it comes as no surprise that Dangote Group and its Founder and CEO, Aliko Dangote, are ardent on building the multinational conglomerate into a $100 billion market capitalization business.

Nigeria's new Oba of Benin: The coronation of a lifetime. Credit: punchng.com

Nigeria's new Oba of Benin: The coronation of a lifetime (Photos)

The rainy season is supposed to be over in Nigeria, but on Thursday just before midnight, torrential rain and crackling lightning let loose over Benin City.

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Visualizations of Real GDP Growth Rates of Countries in Africa (Interactive Map & Chart) from 2007 – 2017.

Africa attractiveness program 2016: EY

Africa attractiveness program 2016: EY (Infographics & Reports)

We are at an inflection point in terms of the structural evolution of most African economies. Decisions made and actions taken now will determine, which of these economies consolidate the gains made over the past decade as a platform for sustainable growth in coming decades.

Kunle Afolayan at the Murtala Muhammed International Airport in Lagos for the premiere of his new film, The CEO. Photograph: Stefan Heunis/AFP/Getty Images

Premiere on a plane: How Nollywood is aiming mile-high

The world’s most prolific film industry may be beset by problems, but director Kunle Afolayan is hoping to help it take off.

Edoh Kossi Amenounve, General Manager, BRVM

West African BVRM exchange's revenue more than doubles in one year to $362M

Turnover on West Africa’s BRVM bourse more than doubled over the past year, reaching 209.26 billion CFA francs ($362.2 million) in late May.

Edoh Kossi Amenounve, CEO, Bourse Régionale des Valeurs Mobilières (BRVM)

West African stock markets are planning to join forces (Video)

Stock exchanges in Nigeria, Ghana, Sierra Leone, Cape Verde, as well as the BRVM are in talks to develop a common platform for cross-border listing and trading in West Africa, to create broader and deeper liquidity across the region.

Africa’s richest man, Aliko Dangote (Left), has a net worth of about US$18 billion, according to Forbes. Tom Saater/Bloomberg

Ranks of African millionaires swell

The sinking tide of commodity prices has lowered incomes for the rich and poor, but for a growing class of African millionaires, the effect may be less painful than for others.

South African Airways now flies to Abuja

South African Airways launches flights to Abuja, Nigeria

South African Airways (SAA) has introduced a second entry point to Nigeria in its quest to enable trade and unlock mobility, which will considerably add to business travel options in the West African region.

Alassane Ouattara, President of Ivory Coast

President Alassane Ouattara sees transformative potential in Ivory Coast's economic comeback

President Alassane Ouattara sees transformative potential in Ivory Coast’s economic comeback — not just for his country, but also for the largely untapped and underserved west African market of more than 300m.

Compelling investment markets in Africa. Credit: sc.com

Compelling investment markets in Africa - Inside Riscura's Bright Africa 2015 Report: Debbie O’Hanlon, Senior Analyst, RisCura (Infographics)

Africa is not a single investment destination with a single set of standardized risk factors and homogenous potential for reward.

Africa’s richest man plans to almost double the continent’s cement production by 2020

Africa's richest man plans to almost double the continent's cement production by 2020 (Infographic)

Africa’s cement wars are heating up. Dangote Cement, owned by Africa’s richest man, Nigerian billionaire Aliko Dangote, has revealed its agreement with a Chinese construction company to build cement plants in 11 countries.

Muhammadu Buhari, President of Nigeria

Nigeria's President Buhari announces weapons production plan

President Muhammadu Buhari said on Friday Nigeria planned to ramp up the domestic production of weapons for its armed forces, in an effort to cut the country’s dependence on imported arms.

Africa50 has held its first constitutive General Assembly this Wednesday 29 July 2015 in Casablanca

Africa50 Infrastructure Fund raises $830M in first closing

Africa50 has held its first constitutive General Assembly this Wednesday 29 July 2015 in Casablanca Africa50, the new and innovative infrastructure investment…

Abidjan-based Bourse Régionale des Valeurs Mobilières (BRVM) regional stock exchange covers eight countries in Francophone West Africa.

London Stock Exchange eyes dual listings on West African capital markets

Following on from partnerships and dual listings with a number of African capital markets, the London Stock Exchange (LSE) is looking to foster dual listings with the West African regional exchange.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Aliko Dangote eyes 2016 London Stock Exchange listing of Dangote Cement (Video)

Africa’s richest man, Aliko Dangote, plans to list Dangote Cement on the London Stock Exchange sometime before the end of 2016. Aliko Dangote is the Chairman of Dangote Group, one of Africa’s largest conglomerates.

M-PESA

Vodafone M-PESA and MTN Mobile Money agree to interconnect mobile money services

Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services.

Kevin Murray, MD for West and Central Africa, Citi

Prospects in Francophone Africa are bright: Kevin Murray, MD for West and Central Africa, Citi

Kevin Murray, MD for West and Central Africa, Citi French-speaking West and Central Africa are generating strong revenues and could emerge as…

Konza Techno City (Illustration)

Here are seven of Africa's largest infrastructure projects currently under construction (Photos)

Photos of seven of Africa’s largest infrastructure projects currently under construction.

Goodluck Jonathan, President of Nigeria

Nigeria postponing February 14 elections amid security issues in the northeast

Nigeria‘s Independent National Electoral Commission (INEC) will postpone the February 14 presidential and legislative elections for six weeks to give a new multinational force time to secure parts of the northeastern areas under the sway of Boko Haram.

The IVM G5 by Innoson Vehicle Manufacturing (IVM)

Innoson Unveils First Made-in-Nigeria Cars

When Nigeria, on October 3, 2013, announced the introduction of a new automotive policy aimed at discouraging the importation of wholly assembled automobile and encourage local manufacturing …

Doing Business 2015 - The World Bank

Doing business in Africa keeps getting easier, according to the latest Doing Business report from the World Bank

The World Bank released its annual Doing Business report last month.

Harmattan wind

How not to write about Africa: Use "African Spring"

On October 30, as thousands of determined Burkinabe put an end to the 27 year rule of their Western-backed autocratic leader, Blaise Compaoré, journalist Hewete Selassie asked a question (in a tweet) that pops up whenever mass protests break out somewhere in Africa: “So is #BurkinaFaso the beginning of the African #Arabspring?”

Victoria Island, Lagos, Nigeria

The changing face of Lagos: Anna Rosenberg, Head, Sub-Saharan Africa Research, Frontier Strategy Group

My recent visit to Lagos has changed my perception of Nigeria’s commercial capital.

Arik Air

Nigeria's Arik Air launches frequent flyer program - Arik Affinity Wings

Arik Air, West and Central Africa’s largest commercial carrier, has launched a frequent flyer program, aligning its offering with the industry’s foremost airlines in the process.

The 2015 Nissan Armada. Nissan, in a joint venture with the Stallion Group

Automobile assembly revs up in Nigeria

The first made-in-Nigeria passenger cars for decades rolled off factory lots in Lagos State in June, marking what authorities hope is the beginning of a new era for automotive assembly in the country.

Patrick Akinwuntan, Ecobank and Daniel Monehin, MasterCard

MasterCard and Ecobank partner to accelerate electronic payments adoption in 28 Sub-Saharan African countries

Ecobank Transnational Inc. (“Ecobank”) and MasterCard, http://newsroom.mastercard.com/ today announced  a multi-country licensing agreement which will provide access to MasterCard’s electronic payments solutions for Ecobank’s customers in a further 23 African countries.

Huawei

Huawei wins managed services contract with MTN Group

Huawei has announced a five-year managed services contract with MTN Group.

Trojan General Contracting

Arabian Gulf companies commit $19B to West Africa infrastructure projects

African countries secured commitments from companies in the Persian Gulf totaling $19 billion to invest in roads, railways and airports at the first West Africa Investment Forum held in Dubai on Tuesday.

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.

Funke Opeke, CEO, MainOne Cable

The Underwater Cable Changing West African Business: An Interview with Funke Opeke, CEO, MainOne Cable (Video)

MainOne Cable CEO Funke Opeke speaks about how online growth in West Africa is changing the business landscape.

Benin's President Thomas Boni Yayi (L) speaks to French industrialist Vincent Bollore at a ceremony marking the beginning of construction on a railway that will connect Togo, Benin, and Niger, in Cotonou, April 8, 2014.

Three key themes for the future of investment in Africa: Anthony Thunstrom, Chief Operating Officer, Global Africa Practice, KPMG

As recently as two years ago, a typical conversation with a multi-national company wanting to invest in Africa would be peppered with questions around corruption, political stability and sustainability – all reflecting a weight of negative stereotypes that we seemed unable to shake off.

Goodluck Jonathan, President of Nigeria

Nothing is more important than bringing home Nigeria's missing girls: Goodluck Jonathan, President of Nigeria

I have had to remain quiet about the continuing efforts by Nigeria’s military, police and investigators to find the girls kidnapped in April from the town of Chibok by the terrorist group Boko Haram.

Alara, Victoria Island, Lagos, Nigeria

Redefining African Luxury in Lagos, Nigeria

Businesswoman Reni Folawiyo is building a concept store with celebrated architect David Adjaye on Victoria Island in Lagos. The mission? To redefine African luxury for Nigerians—and for the rest of the world.