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Eric Kump, Co-Head, Carlyle Sub-Saharan Africa. Credit: innovation-group.com

Private equity powerhouse Carlyle to acquire GCR, Africa's largest credit rating agency

Global alternative asset manager The Carlyle Group announced on Monday that it has agreed to acquire a significant stake in Africa’s largest credit rating agency GCR from the management founders, and German development financial institution DEG.

The Wedding Party (Movie)

Check out the 8 Nollywood movies taking this year's Toronto International Film Festival by storm (Photos & Videos)

“Lagos is entirely unique,” said Cameron Bailey the programme curator in a statement. “The city of Fela Kuti’s music has also given birth to one of the world’s most vibrant film industries.

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.

Oba Esigie of Benin (1504-1550 BC) was the first King of Benin who ascended the throne with the title Esigie in about 1504.

Benin City: The mighty medieval capital now lost without trace (Photos)

With its mathematical layout and earthworks longer than the Great Wall of China, Benin City was one of the best planned cities in the world when London was a place of ‘thievery and murder’.

A scene from the movie “Fifty” created by Mo Abudu's EbonyLife TV

Nigerian Media Mogul Mo Abudu Making Most of EbonyLife TV Success

On a recent trip to Spain, Nigerian media mogul Mo Abudu seemed to be losing sight of what was meant to be a short retreat.

Yemi Osinbajo, Vice President of Nigeria

Nigeria plans $25B infrastructure fund

Nigeria plans to set up a $25 billion infrastructure fund to invest in the transport and energy sectors in Africa’s most populous nation, a spokesman for Vice President Yemi Osinbajo said on Thursday.

Abidjan, Ivory Coast

Concrete strides: Sub-Saharan Africa's infrastructure potential

For this West African city of more than 4.7 million people, the bridge to a better economy starts with an actual bridge.

African internet capacity growth continues to lead world

Fact of the Day: Africa's internet capacity growth was the fastest in the world over the past five years (Infographics)

Worldwide international Internet capacity growth continues to slow, falling from 41 percent in 2011 to 31 percent in 2015.

Primary school pupils from Durban react after Durban was officially named as host of the 2022 Commonwealth Games, on September 2, 2015 in Durban (AFP Photo/Rajesh Jantilal)

South Africa vows Durban Commonwealth Games will "heal wounds"

South Africa on Wednesday promised to deliver a world-class event when the city of Durban hosts the 2022 Commonwealth Games, saying the occasion would help the country overcome its turbulent past.

Moses Mabhida Stadium, Durban, South Africa

Durban to host 2022 Commonwealth Games

Durban in South Africa will host the 2022 Commonwealth Games, becoming the first African city to be awarded the four-yearly multi-sports event.

Kenya’s David Rudisha is the current Olympic champion and world record holder in the 800 meters race. Credit: qz.com

Here's why Kenya keeps dominating the world of athletics

Kenya is on top of the world. As the world athletics championships wrapped up in Beijing on Sunday (August 30th), Kenyan athletes managed to top the overall winners table.

Walmart: From Arkansas to Lagos (AP Photo/Danny Johnston)

Walmart is planning to open retail outlets in Nigeria

Walmart, the world’s largest retailer by revenue, is in advanced talks to open big box stores in Lagos, Nigeria’s economic hub.

Mobile connectivity and technology in Africa: Ahead of the global game.

Mobile connectivity and technology in Africa: Ahead of the global game?

Mobile internet adoption in Africa is taking place at almost double the global rate, a trend that has sparked debate among development and tech enthusiasts as to whether this marks a radical shift in the way the internet of the future will be used and accessed.

Tony Wainaina, Managing Partner, Fanisi Capital

Kenyan private equity firm Fanisi Capital pays $6M for minority stake in Tanzanian agro-processor

Kenya-based private equity house Fanisi Capital said on Thursday it had bought a stake in a Tanzanian agro-processing company for $6 million, expanding its footprint in the region.

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.

Ayisi Makatiani, Managing Partner & CEO, Fanisi Capital

Kenyan $50M private equity fund Fanisi Capital invests $2.1M in European Foods Africa

Kenyan private equity house Fanisi Capital said on Thursday it had invested $2.1 million in a mid-sized local food distribution and processing firm that sells pizzas, berries and fresh juice.

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.

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.

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…

China and US trade with Africa

U.S. Export Agency Doubles Africa Offices to Help Boost Trade

The U.S. Commercial Service, the export promotion arm of the Department of Commerce, doubled its presence in Africa over the past year to boost trade with some of the world’s fastest growing economies.

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.

Kenya's BitPesa Raises $1.1M

Kenya's BitPesa Raises $1.1M in 2nd round funding led by San Francisco-based Pantera Capital

BitPesa, the Nairobi-based startup that’s taken aim at the global remittance business, announced that it’s raised $1.1 million in a second round of funding led by San Francisco-based Pantera Capital.

Ethiopia says new railway to Djibouti to start in early 2016

Ethiopia says new railway to Djibouti to start in early 2016

Ethiopia expects to open a new railway line linking the capital Addis Ababa with the Red Sea state of Djibouti in early 2016, a project at the centre of plans to create new manufacturing industries, the head of the state railways said.

AfrAsia Bank

National Bank of Canada buys 9.5% stake in Mauritius-based AfrAsia Bank

National Bank of Canada bought a 9.5 percent stake in Mauritius-based AfrAsia Bank Ltd., its first African investment.

Porsche Panamera

Nigeria: The next big frontier for luxury

The ‘Africa Rising’ narrative, driven primarily by the region’s high growth rates, has captured a great deal of attention from global businesses. High growth rates in Africa’s largest economy, Nigeria, have been fueling growth in the country’s luxury market.

Pius Adesanmi, Professor of English and African Studies, Carleton University

Africa's new story won't be told without its diaspora: Pius Adesanmi, Professor of English and African Studies, Carleton University

If 21st century Africa is a story struggling for equality in the global community of stories, to paraphrase Africa’s most famous novelist, Chinua Achebe, then Bob Geldof, Bono, and international aid and charity organizations are not the only actors seeking a space in that narrative.

Nuclear plant

South Africa and China sign nuclear energy pact

China and South Africa sealed three nuclear pacts, as a contest intensifies for contracts to build new atomic plants in the continent’s second-largest economy.

Doug Smart, General Manager, KFC Africa

How to succeed in selling to consumers in South Africa

Doug Smart, KFC’s general manager in Africa, is mulling the challenges his company faces in appealing to a cross-section of South Africans one morning at a restaurant in Johannesburg.

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

Nigeria's four newest billionaires: Tony Elumelu, Cletus Ibeto, Benedict Peters, & Akanimo Udofia

Nigeria has four new billionaires, according to wealth research done by Ventures Africa.

The creator of the ‘Ebola – no Ebola’ map says he is trying to show the world that Africa is not a country. Photograph: EbolaPhone/Twitter

Ebola for beginners: Twitter map outlines some elementary geography

A rudimentary map demonstrating that Africa is not synonymous with the Ebola virus has hit a nerve online.

A mixed use high density development stands as part of the Wescape real estate project in Cape Town, South Africa, in this undated handout illustration.

Building a Boston in Cape Town: $13B dream rises from ashes of apartheid

David Pearson has a vision: a new community of 800,000 — bigger than Boston — complete with factories, schools, clinics and a university that will help erase the legacy of apartheid in Cape Town.

BlackBerry Passport

Given BlackBerry's strong popularity in Nigeria and South Africa, will the newly-launched BlackBerry Passport be a hit on the continent?

BlackBerry released its new Passport phone today, a keyboard smartphone with a 4.5-inch​ screen aimed at corporate users.

Lakepoint Apartments, Ikoyi, Lagos, Nigeria

The number of millionaires in Nigeria, Kenya and Angola will more than double by 2030

According to the latest studies, there have never been so many high net worth individuals (HNWI) in the world, and they’ve never been richer.

Goodluck Jonathan, President of Nigeria

Nigeria mulls $20B offers to sell power transmission assets

Nigeria is considering offers of more than $20 billion for the assets of its national electricity transmission company as it struggles to provide adequate power to Africa’s largest economy, Power Minister Chinedu Nebo said.

Facebook

Facebook Hits 100M Users In Africa, Half The Continent's Internet-Connected Population

The developing world wants Facebook, and its accessibility initiative Internet.org could pay huge dividends. Those are the takeaways from Facebook’s announcement that it now has 100 million active users in Africa, and 80% of those come on mobile.

Mohammed Wakil, Nigeria's Minister of State for Power

Nigeria to open up power transmission to private investors: Mohammed Wakil, Nigeria's Minister of State for Power

The Federal Government on Monday said it had opened up the transmission arm of the power sector to private investors.

Blessing Okagbare storms to gold in the 100m

Nigeria's Blessing Okagbare storms to gold in the 100m, setting new Commonwealth record

Nigeria’s Blessing Okagbare set a new Commonwealth record of 10.85 seconds to win 100m gold and put her Jamaican rivals in the shade.

Itumeleng Mothibeli manages the mall and 13 other shopping centers that have sprung up to serve a black South African middle class that spends more money than the white middle class

Africans Open Fuller Wallets to the Future

Across sub-Saharan Africa, consumer demand is fueling the continent’s economies in new ways, driving hopes that Africa will emerge as a success story in the coming years comparable to the rise of the East Asian Tigers in the second half of the 20th century.

Nigeria Sovereign Investment Authority (NSIA)

The Nigeria Sovereign Investment Authority (NSIA), the country's $1B sovereign wealth fund, rated 9 out of 10 for transparency: Sovereign Wealth Fund Institute (SWFI)

Sovereign wealth fund tracking firm, the Sovereign Wealth Fund Institute (SWFI), has upgraded Nigeria‘s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), to 9 points on the SWFI’s 10-point Linaburg-Maduell Transparency Index.

A PayPal sign is seen at an office building in San Jose, California May 28, 2014.

PayPal expands payment services to Nigeria and 9 other markets

PayPal is entering 10 new countries this week, including Nigeria, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud.

Clifford Mpare, CFA, Chairman & CEO, Frontline Capital Advisors

Spotlight on Africa with Clifford Mpare, CFA, Chairman & CEO, Frontline Capital Advisors (Presentation)

Spolight on Africa with Clifford Mpare, CFA, Chairman & CEO, Frontline Capital Advisors. European Investment Conference, CFA Institute, “Beyond Austerity: Opportunities for European Investors in the Global Market”, 14–15 November 2013, London, United Kingdom

Clifford Mpare, CFA, Chairman & CEO, Frontline Capital Advisors

Africa's Lion Market: An interview with Clifford Mpare, CFA, Chairman & Chief Executive Officer of Frontline Capital Advisors (Video)

The Financial Times recently did a video interview with Clifford Mpare, CFA, of Frontline Capital Advisors.