Consumer Discretionary News

The Silo: Is this Africa's best new hotel?

The Silo: Is this Africa's best new hotel? Check out photos

Cape Town’s The Silo Hotel — named after the former grain-silo complex in which it is housed — opened its doors in March as an instant Cape Town landmark.

The Pinnacle, Nairobi, Kenya

Work begins on the tallest skyscraper in Africa

The mighty peaks of Kilimanjaro and Kenya are the highest points in Africa, towering over the East Coast nations.

Pictures of Sudan's Nubian pyramids

One of Africa's best kept secrets - its history

Africa has a rich and complex history but there is widespread ignorance of this heritage. A celebrated British historian once said there was only the history of Europeans in Africa.

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.

Bob van Dijk, CEO, Naspers

Africa's largest company to start funding roadshow in the US and UK

Naspers Ltd. will approach investors in the U.S. and the U.K. this about a bond issue as Africa’s biggest company by market value continues its acquisition-hungry quest to expand its internet businesses.

Shoprite Holdings - An African consumer powerhouse

Shoprite Holdings - An African consumer powerhouse: Peter C. Thoms, CFA, Founder, Africa Capital Group

Shoprite Holdings Ltd., the South Africa-based supermarket chain, is our single largest holding in the retail industry in our Africa investment strategy.

The Wedding Party: Nollywood’s highest-grossing movie to date

From Hollywood To Nollywood: Nigeria's Walk Of Fame

Africa’s largest economy, Nigeria, has embraced the challenges of creating a film industry – Nollywood – that is markedly authentic, undeniably bold, and unapologetically true to its roots.

Examining the State of Hotel Development in Africa

Examining the State of Hotel Development in Africa

A total of 365 hotel chain development pipelines were reported in Africa in 2016, with 64,231 rooms.

Ikoyi London

London's first high-end Nigerian restaurant, Ikoyi, is to debut at the St James's Market in the West End this summer

Ikoyi is to launch its first restaurant at The Crown Estate and Oxford Properties’ new £400m landmark destination, St James’s Market, bringing Central London its first taste of Jollof Cuisine.

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.

Invest in This Walmart of Africa?

Invest in This Walmart of Africa?

The Wall Street Journal recently featured Walmart’s operations in Africa. The article revealed that Walmart had a $2.4 billion stake in South African retailer Massmart going back to 2011.

Wizkid

How Nigeria's Wizkid fashioned a new sound that won global appeal

He has a staggering seven nominations at the Billboard Music Awards and will come to the UK to headline festivals this summer.

Multichoice City, Johannesburg, South Africa

MTN in talks to buy MultiChoice Africa, says report

MTN is in talks on a potential acquisition of pay-TV provider MultiChoice Africa, MyBroadband reports citing industry sources.

Christoffel Wiese is a South African businessman and billionaire who built Shoprite Holdings Ltd., a supermarket retailer, from the ground up. Credit: Waldo Swiegers/Bloomberg/Getty Images/The Africa Report

Monopoly Money: The successes and failures of South African billionaire Christoffel Wiese

One of South Africa’s richest business leaders talks about his commercial successes and failures, the debates about race and economics in South Africa and his criticism of the government.

Chevrolet Volt

Chevy Volt's designer, Jelani Aliyu, has been appointed boss of Nigeria's automobile agency (Infographic)

Nigeria’s government has long talked about diversifying its oil-dependent economy but it’s actions have not always matched the bluster.

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include Balderton Capital, EchoVC, TPG Growth, and NEA.

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.

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.

Mezze on the deck - Four Points by Sheraton Nairobi Hurlingham. Credit: starwoodhotels.com

Marriott International Opens First Property in Kenya

Marriott International, Inc. on Monday announced its first property in Kenya with the opening of Four Points by Sheraton Nairobi Hurlingham.

Waitresses place a series of orders at the Orbit Place Java House, a chain of Kenyan cafes

East African assets attract private equity interest

Family businesses seek sales amid growth in buyout groups in the region

Nollywood star Linda Ejiofor. Credit: Ike Ude/qz.com

Nollywood is giving the world a taste of true African glamour

Last month the romantic comedy The Wedding Party became the first movie from Nigeria’s growing film industry to break 400 million naira ($1.3 million).

Mo Abudu, Founder & CEO, EbonyLife TV. Credit: CNN

Mo Abudu: The Nigerian media mogul building a global empire (Video)

How do you get from a talk show sofa to boardroom chair? If you ask Mosunmola “Mo” Abudu, it’s being motivated by an eagerness to dispel ignorance – more specifically about Africa.

Airbnb Aims to Double Growth in Africa This Year

Airbnb aims to double growth in Africa this year to reach 1.5 million customers

Airbnb expects to maintain its rapid growth in Africa this year and double its customer numbers to 1.5 million,.

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme to open twenty shops in Nigeria over a period of five years.

Nigeria's leading hotel booking company Hotels.ng launches flight bookings

Nigeria's leading hotel booking company Hotels.ng launches flight bookings

Hotels.ng, Nigeria’s leading hotel booking company has rolled out a new service – online flight bookings – on its website.

Hyatt Regency Johannesburg

JLL predicts increased hotel investment activity in Sub-Saharan Africa

Recent high-profile transactions in the Sub-Saharan hotel sector have industry experts predicting increased liquidity, leading to more open-market transactions in the future.

Social media has become the media in Africa

Social media has become the media in Africa

Five years ago, when Social Media Week launched in Lagos, it was the first event of its kind in Africa on that scale. At the time, social media seemed mostly a fun and useful marketing communications platform.

AccorHotels headquarters in Issy-les-Moulineaux near Paris, France

AccorHotels signs deals to open three hotels in Ethiopia

Europe’s largest hotel group AccorHotels, will open three hotels in Ethiopia by 2021, becoming the latest international chain to tap into the growing business and tourism sectors in the country.

Carlyle Group And TPG Capital Make $100M Bid for Kenyan coffee chain Java House

Carlyle Group and TPG Capital make $100M bid for Kenyan coffee chain Java House

Two of America’s largest private equity firms, Carlyle Group and TPG Capital, are looking to acquire Kenyan coffee chain Java House is a deal that could be worth as much as $100 million.

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms (Infographic)

A successful deal would have created Africa’s biggest retailer. Shares of both companies jump as news ends antitrust concerns over deal.

Estée Lauder partners with Jumia to bring key brands to Nigerian market

Estée Lauder partners with Jumia to bring key brands to Nigerian market

The Estée Lauder Companies is set to launch Clinique, Estée Lauder and Aramis into the Nigerian market for the first time thanks to its new partnership with Jumia Online Retailer.

Who takes the throne? Credit: qz.com/HBO

ShowMax is stepping up its pan-African battle with Netflix by putting servers in Kenya

In the battle to become the preferred video content streaming service by a majority of Africans, content servers are the weapon of choice.

Isondo will produce fuel cell compontents using platinum as a catalyst

South Africa targets auto sector with fuel cell plant

Africa’s first fuel cell component plant using platinum as a catalyst will start production by December aiming to take advantage of rising demand for clean energy cars.

2017 Peugeot 3008

Peugeot to assemble vehicles in Kenya

France’s PSA Group, the maker of Peugeot and Citroen cars, said on Saturday it had signed a contract to assemble Peugeot brand vehicles in Kenya.

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.

Bastian Gotter, Co-Founder, iROKO Partners

iROKOtv Co-Founder Bastian Gotter leaves the company to invest in African startups

Bastian Gotter is the Co-Founder of iROKO, the VC-backed African entertainment and tech company that has single-handedly changed the face of Nollywood content distribution.

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.

Kenyan supermarket chain Nakumatt agrees stake sale to fund for $75M

Kenyan supermarket chain Nakumatt agrees stake sale to fund for $75M

Privately-owned Nakumatt, Kenya’s biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said last Wednesday.

Nakumatt just sold a 25% slice of itself to an investment fund. Credit: qz.com/Reuters/Thomas Mukoya

Nakumatt and Shoprite are attracting interest from international investors for their fast-growing markets (Infographic)

The investment case for Africa requires taking the long view, especially when it comes to thinking about serving consumers on 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.

Rachel Maddow, Host of "The Rachel Maddow Show" on MSNBC

Rachel @Maddow's coverage of #ECOWAS and the #Gambia crisis, in particular, was pretty pathetic #ABCView

Typical ignorant and condescending coverage commonly associated with the Western media’s coverage of #Africa

Strive Masiyiwa, Founder & Chairman, Econet Wireless Group

Strive Masiyiwa builds broadcast empire to challenge MultiChoice

Econet Group is building a broadcasting empire that could challenge MultiChoice’s dominance in the payTV market across the continent.