China News

Akeem Lawal, Divisional CEO, Switching & Processing, Interswitch. Credit: SlimTrader

Interswitch Nigeria Sees Delayed IPO Concluded by End-2019

Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019.

Hawassa Industrial Park, Awasa, Ethiopia

Can Ethiopia be Africa's leading manufacturing hub?

With Ethiopia having the second biggest population in Africa, it is under growing pressure to tackle unemployment.

Naspers has for years scoured the world looking for another early stage technology company that will eventually replicate the success of Tencent, in which it invested $32 million 16 years ago. Credit: Brent Lewin/Bloomberg

Africa's most valuable company looks to replicate its 400,000% return investment in Tencent (Infographic)

Chairman Koos Bekker countered criticism Naspers Ltd. relies too heavily on its $132 billion stake in Chinese media company Tencent Holdings Ltd. by reminding investors that they would have been a lot poorer if he’d given in to similar pressure to sell the holding years ago.

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.

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.

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.

South Africa's Naspers rules out $114 billion Tencent stake spin-off

South Africa's Naspers rules out $114 billion Tencent stake spin-off

South Africa’s Naspers (NPNJn.J) does not plan to spin off its $114 billion stake in Tencent, its boss said on Monday, a push back against investors urging a break-up to close a widening discount between its market value and that of its one-third stake in the Chinese internet company.

Nairobi to Mombasa high-speed railway opens

Nairobi to Mombasa high-speed railway opens

East Africa is now more accessible than ever. After two years of construction, Kenya’s largest infrastructure project since independence, a $3.8 billion Chinese-built high speed railway, is up and running.

A family enjoying an injera meal at a restaurant in Addis Ababa. Photograph: Boaz Rottem/Alamy/The Guardian

From chefs to musicians, talented 're-pats' come back to build a modern Ethiopia

His dream is to show the world the glories of Ethiopian cuisine, to preserve its rich traditions and to make his fellow citizens eat better.

Novare Lekki Mall (Illustration)

African Property Delivers for Private Equity Investors: Derrick Roper, CEO, Novare Equity Partners

In Sub-Saharan Africa, private equity funds offer investors access to competitively priced assets that have strong growth potential in a region where stock exchanges are still developing.

A woman waved a portrait of Tedros Adhanom Ghebreyesus, the newly elected director general of the World Health Organization, in Geneva on Tuesday. Credit: Valentin Flauraud/European Pressphoto Agency

W.H.O. Elects Ethiopia's Tedros as First Director General From Africa

Tedros Adhanom Ghebreyesus of Ethiopia was voted director general of the World Health Organization on Tuesday, the first African ever to head the agency.

Kim Reid, Founder & Co-CEO, Takealot

Africa's most valuable company Naspers ups investment in South Africa's largest e-commerce company Takealot

Naspers, Africa’s biggest ecommerce and digital company, has just invested R960 million (about $69.4 million) in Takealot Online, South Africa’s largest ecommerce company.

President of the Federal Republic of Nigeria Muhammadu Buhari (L) and Chinese President, Xi Jinping (R) shake hands during the signing ceremony at Great Hall of the People. Credit: Forbes/Kyodo News/Getty Images

How China's $60B for Africa will drive global prosperity: Amy Jadesimi, MD, LADOL

As a long-term investor and developer of infrastructure in West Africa, I have been tracking China’s courtship of African nations over the last decade.

Wizkid signed with Sony Music last year

Sony Music seeks Nigeria streaming growth to build on ringback market

Sony Music Entertainment sees big growth prospects for music streaming in Nigeria, thanks to falling internet data costs and a large, growing population, a senior executive told Reuters.

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.

In front: South Africa's President Jacob Zuma (L) and AU Chair Nkosazana Dlamini-Zuma (R)

It's time South Africa tuned into Africa's views about its role on the continent

South Africa has variously styled itself as a “bridge” between the North, the global South and Africa as well as a “gateway” into the continent.

Aliko Dangote, Founder & CEO, Dangote Group

Dangote & China's Sinotruck partner to build $100M truck plant in Nigeria

Africa’s richest man Aliko Dangote has partnered with China’s heavy duty truck group Sinotruck to set up a $100 million plant to assemble trucks and cars in Nigeria for local use and export.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Modderfontein New City, Johannesburg, South Africa

11 giant infrastructure projects that are reshaping Africa

By the United Nations’ estimate, the continent will see its current population of 1.2 billion double by the year 2050.

Nonkululeko Nyembezi-Heita, Chairman, Johannesburg Stock Exchange

African stock exchanges should focus on smaller businesses: Nonkululeko Nyembezi-Heita, Chairman, Johannesburg Stock Exchange

The African growth story is no longer a fairy tale. Over the past decade, multinational companies, private equity funds and infrastructure development programs have channeled capital to the continent.

Nigeria's President Muhammadu Buhari. Credit: Yahoo/Pius Utomi Ekpei/AFP/Getty Images

Fool Nigeria Once, Shame on You. Fool Nigeria Twice ...

It’s been a tough year for Nigerian President Muhammadu Buhari. The mood in Africa’s most populous nation is a far cry from the euphoria that greeted his historic 2015 election.

These 6 Sectors of Africa's Economy Are Poised for Growth - McKinsey

These 6 sectors of Africa's economy are poised for growth: McKinsey

In 2011, we published an article in HBR examining the surprisingly rapid growth of African economies and consumer markets.

Bryan Leith, COO, KPMG Africa

Africa's Economic Prospects: Bryan Leith, ‎COO, KPMG Africa

While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.

There's still room for growth. Credit: qz.com/Reuters/Akintunde Akinleye

The "Africa Rising" story isn't over yet, despite China's slowdown and flagging growth in Nigeria and South Africa

The idea that African economies are on the way up first became popular around 2010, buoyed by a commodities boom and improved governance across the continent. Now, with flat commodity prices and slowing demand from China, the narrative of “Africa Rising” has mostly fallen out of fashion.

Tamassa Resort in Mauritius

Property fund Mara Delta agrees to buy Tamassa Resort in Mauritius

LUX* Resorts and Hotels sells Tamassa Resort for US$40 million in sale-and-leaseback deal.

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.

Green White Green (Movie)

Nollywood: Nigeria stands out at the Toronto International Film Festival

Nigerian filmmakers, producers and actors are hoping a spotlight on Lagos at this year’s Toronto International Film Festival (TIFF) will open Nollywood up to the world.

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.

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.

Bob Collymore (Right), CEO, Safaricom. Safaricom launched Uber rival Little Cabs earlier this month. Credit: techcrunch.com

In Kenya, Safaricom's Little Cabs app goes head to head with Uber

Even as a deal is imminent between Uber and its closest competitor Didi Chuxing in the immense Chinese market, competition in ride-sharing continues to intensify around the globe.

Africa - The great opportunity

Africa: The great opportunity

Africa is rapidly becoming the global economic growth engine. Half of the world’s 25 fastest-growing nations are in Africa and almost 40 per cent of the continent will achieve GDP growth of more than 5 per cent in 2016.

OR Tambo International Airport, Johannesburg. By 2018, a cross-continent passport may be available to all African citizens. Photograph: Alamy

As the UK shuts itself off from Europe, the African Union rolls out a passport for the continent's 54 countries

This weekend the African Union unveiled an e-passport that will hopefully be available to all citizens of member states by 2018.

Building the Entrepreneurial Base in Africa

Building the Entrepreneurial Base in Africa: J. Eric Wright, Chairman, Africa Venture Partners

J. Eric Wright was headed for Wall Street until he decided to take a year off in Africa. That short jaunt has stretched into nearly three decades on the continent — and led him to his life’s work.

A Diageo factory in Accra, Ghana, produces Orijin Bitters. Credit: wsj.com

Why Diageo, PZ Cussons, and Atlas Mara are betting big on Africa

As growth in China slows after two decades of breakneck economic development, Western companies are increasingly turning towards India and Africa as the next great untapped opportunities.

Subtle racism and insidious neocolonialism in Nigeria’s startup ecosystem

Subtle racism and insidious neocolonialism in Nigeria’s startup ecosystem: Paul Adepoju

One of the big stories in Africa’s startup ecosystem this month was the announcement of Chan Zuckerberg Initiative’s $24 million investment in Nigeria-linked startup Andela. We saw it as a great moment for the African tech space.

Ebi Atawodi, General Manager, Uber Lagos

Uber, the sharing economy and the future of transportation in Lagos

CNN says Uber could be bigger in Lagos than it is in London. In its first 16 months, Uber provided 30% more rides in Lagos than it did during its first 16 months in London.

Uber Nigeria

Nigeria leads the way promoting ridesharing in Africa: Ebi Atawodi, General Manager, Uber West Africa

At the start of the last century, just one in seven people worldwide lived in cities. Today, it’s half and the UN predicts that by 2050, another 2.5 billion people will be living in urban areas.

At the regional finals of the third annual Challenge Cup, hosted this year in Nairobi. Credit: Christopher M. Schroeder/recode.net

Startup Rising Africa

It’s hard to get more American than generalizing Africa as one big homogenous thing. It is, of course, a rich and diverse continent of more than 50 nations, where merely a piece of it — say from Kenya to Nigeria — is a greater distance than the entire United States.

Ajen Sita, CEO, EY Africa

Africa's development within the global economy: Ajen Sita, CEO, EY Africa

While Africa’s 2015 GDP is down 1.2% from 4.6% in 2014, it is still among the fastest growing regions in world.

Capturing a vibrant, modern Africa

Capturing a vibrant, modern Africa: Geoffrey White, CEO, Agility Africa

Much of the world’s perception of Africa is outdated and misinformed.

"Industries serving consumer staples and discretionary spending fetch the highest prices because of favorable demographics in the growing middle class," says Rory Ord, RisCura's Head of Valuations

Private Equity Firms Bid Up Africa M&A Prices on Record Funds

The prices private equity firms pay for stakes in African companies are the highest in six years, driven by record fundraising and competition for the continent’s expanding middle class.