Egypt News

Johannesburg, South Africa

The top 10 wealthiest cities in Africa: AfrAsia Bank & New World Wealth (Infographic)

AfrAsia Bank and New World Wealth recently reviewed the 10 wealthiest cities in Africa by total wealth held.

Travelers at Johannesburg's OR Tambo International Airport

African countries are welcoming more tourists than ever before

Africa’s tourist spots were some of the fast-growing and popular destinations in the world last year.

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.

EFG Hermes eyes acquisition in Nigeria, Kenya brokerage licence

EFG Hermes eyes acquisition in Nigeria, Kenya brokerage license

Egypt’s EFG Hermes wants to enter Nigeria through an acquisition and expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets, a senior executive told Reuters last week.

M-Pesa

M-Pesa, Safaricom, Kenya regulators and Vodacom could be about to open up mobile money in Africa

M-Pesa, the mobile money system that is the pride and anchor of Kenya’s homegrown technology community, has had plenty of hype and excitement since its 2007 launch.

Addis Ababa, Ethiopia

Africa's economic growth in 2016 was driven by East Africa

While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP growth.

Jes Staley, CEO, Barclays

Barclays to surrender control of Africa unit with £1.6bn sale

Barclays has been given regulatory approval for the sale of its remaining stake in its Barclays Africa Group, according to a unit of the business.

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.

Mthuli Ncube, Head of Quantum Global Research Lab

Here are the top & bottom 10 investment destinations in Africa, according to Quantum Global (Infographic)

Botswana is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab.

Top 3 Mortgage Growth Markets in 2017 - Egypt, Algeria and Nigeria

Egypt, Algeria and Nigeria are the top 3 mortgage growth markets in 2017: Euromonitor

Euromonitor International has identified the top three markets globally in 2017 by fastest growth in mortgaged households.

Aliko Dangote, CEO, Dangote Group

Aliko Dangote: In for the long haul

Aliko Dangote, Africa’s richest man, is optimistic that the only place to invest in today is Africa.

Africa Rising - What Investors Want to Hear

Africa Rising: What Investors Want to Hear (Infographic)

The “Africa Rising’’ narrative has been put on hold, due to a couple of macroeconomic factors impacting the economic growth of the giant countries of Africa.

Cyril Collon, General Partner, Partech Ventures

African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)

At Partech Ventures, we have been tracking for the past 3 years the dynamics of African tech investment, to better understand the investment landscape on the continent.

Cape Town was the most important destination in 2016 for startup investments in Africa

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable wifi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

AFCON 2017 - Cameroon beats Egypt to lift African title

2017 Africa Cup of Nations (AFCON 2017): Cameroon beats Egypt to win 5th title

Cameroon produced a stunning comeback to beat Egypt in the final of the African Cup of Nations (AFCON), held in Gabon’s capital, Libreville, on Sunday.

Investment in Africa's tech start-ups on the rise

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable Wi-Fi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Nairobi, Kenya. Credit: Africa Capital Group/Ninara/Flickr

Africa to Rebound in 2017: Peter C. Thoms, CFA, Founder, Africa Capital Group

2016 was a tumultuous year that offered Africa investors many opportunities to make mistakes.

A Protea Hotels location now owned by Marriott International

Why Marriott's Expansion in Africa Could Mean Long-Term Gains

Marriott opened its first property in sub-Saharan Africa, the 254-room Kigali Marriott in Rwanda, in early October.

Africa's Private Equity Promise And What It Can Deliver

Africa's Private Equity Promise And What It Can Deliver

The fundamental precept of Private Equity (PE) is to transform a company and improve it, thus allowing it to achieve its full capability by enhancing its operational structure.

Dar es Salaam, Tanzania

The rise of Africa's megacities

Over the last 35 years, the share of Africa’s population living in urban areas climbed from 27% to 40%.

Dangote Industries cement plant in Dakar, Senegal

Gulf investments in Africa beginning to spread far and wide

Traditionally, investments from the Arabian Gulf into Africa have focused on North Africa, owing partly to closer cultural ties and the Gulf’s focus on western markets. This scenario is slowly changing and so too are the pan-African investment strategies of Gulf investors.

Live music in Accra, Ghana

Why is Ghana 25 times more successful than Nigeria at attracting tourism revenues?

Tourism should be an easy win for emerging market (EM) and frontier market (FM) economies with weakened currencies, and cheap jet fuel; an opportunity that we think is being missed.

African Private Equity Academy to be launched in Sandton, South Africa

African Private Equity Academy to be launched in Sandton, South Africa

The South African and Kenyan offices of pan-African law firm Bowmans together with international law firm Freshfields Bruckhaus Deringer and leading Nigerian law firm Udo Udoma & Belo-Osagie will launch their inaugural African Private Equity Academy in Sandton this week.

Ngũgĩ wa Thiong'o is the writer the world needs now. Credit: qz.com/EPA/University of California

Ngũgĩ wa Thiong'o: The Kenyan author who’s done more for literature than Bob Dylan, and should have won the Nobel Prize

Ngũgĩ wa Thiong’o did not win the Nobel Prize in Literature, yet again. For years, the Kenyan writer has topped the list of contenders at betting sites, rivaling Japanese novelist Haruki Murakami, or with the case this year, American novelist Don DeLillo.

Mitsubishi UFJ Said to Weigh Adding Bank Offices in Africa Push

Mitsubishi UFJ Said to Weigh Adding Bank Offices in Africa Push

Mitsubishi UFJ Financial Group Inc. is considering opening offices in Kenya and Morocco to boost its African business as Japanese companies seek natural resource and infrastructure-related opportunities on the continent.

Menlyn Park Shopping Centre, Pretoria, South Africa (Illustration)

Menlyn Park Shopping Centre to cement its place as Africa’s largest mall

Despite a slowdown in consumer spending across South Africa, Pretoria’s Menlyn Park Shopping Centre is undergoing a R2.5 billion revamp that will make it the largest mall in Africa, unseating Durban’s Gateway Theatre of Shopping.

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.

iHub, Nairobi, Kenya

A few things we learned about tech hubs in Africa: GSMA (Infographic)

The last mapping exercise done by the World Bank in September 2015 listed less than 120 tech hubs in Africa. As of July 2016, GSMA’s research suggests there are 314 active tech hubs in Africa.

Tech companies help foster the startup ecosystem in Africa. Credit: Reuters/Thomas Mukoya/qz.com

Half of the tech hubs in Africa are located in South Africa, Kenya, Nigeria, Egypt and Morocco

A total of 314 tech hubs and incubation centers was recorded in July by the global telecoms industry body GSMA’s Ecosystem Accelerator, a program that works to enable partnerships between operators and developers on the continent.

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.

Mobile Economy - Africa 2016: GSMA

The mobile economy - Africa 2016: GSMA (Infographics & Report)

At the end of 2015, 46% of the population in Africa subscribed to mobile services, equivalent to more than half a billion people. The region’s three dominant markets – Egypt, Nigeria and South Africa – together accounted for around a third of the region’s total subscriber base.

Africa tops 500M mobile users, adds $150B to economy

Africa tops 500M mobile users, adds $150B to economy (Infographic)

Africa now has half a billion mobile users, and the mobile ecosystem added $153-billion to the African economy in 2015, according to a new GSMA study, which predicts smartphone numbers will triple in the next five years.

Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

Naira float makes Nigeria stocks interesting again: Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

Nigeria’s stock market is becoming the most interesting one on the African continent to foreign investors after the country devalued its currency, emerging market veteran investor Mark Mobius said on Wednesday.

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”.

As it expands in Africa, Uber adapts to local markets and adopts cash payments

As it expands in Africa, Uber adapts to local markets and adopts cash payments

While Uber continues its push into Africa the company is making allowances to local markets and testing unique service models users wouldn’t see in other parts of the globe.

Taxify's driver app, putting the driver first. Credit: Taxify/qz.com

Uber's rivals in Africa think they can win with happier drivers, traffic jam deals and even price haggling

Wherever there is a car, a decent road and a reliable GPS connection, there is Uber.

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets. Credit: sokopay.com

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets

From Nigerian fintech to East African fiber, several exciting and diverse companies are emerging as IPO contenders in Africa’s rapidly growing Technology, Media & Telecommunications (TMT) sector, according to specialist news provider TMT Finance.

Michelle Kathryn Essomé, CEO, AVCA

Africa had record levels of private equity exits in 2015: AVCA & EY

African private equity firms cashed in on investments last year at the highest rate in almost a decade, with South Africa, Egypt, Nigeria and Kenya accounting for two-thirds of these exits.

Denis Duverne, Director, Deputy CEO, AXA

AXA expands Africa operations in joint venture with Lloyd's specialty group Chaucer

AXA is targeting the rapidly expanding market for African specialty insurance by partnering with Chaucer, a Lloyd’s specialty insurance group.

Hotel Novotel Dakar, Senegal. An AccorHotels property

Hotel development in Africa jumps 30% to 64,000 rooms for 2016

The number of planned hotel rooms for 2016 in Africa has soared to 64,000 in 365 hotels, up almost 30% on the previous year, according to new figures from the annual W Hospitality Group Hotel Chain Development Pipeline Survey.

Rita Kavashe, Managing Director, GM East Africa

General Motors East Africa to double truck output on construction boom, says MD

A construction boom in Kenya has fueled a rise in commercial truck sales for market leader General Motors, which is investing $7.9 million in 2016 to upgrade its assembly plant in Nairobi and more than double output, a senior executive said on Thursday.

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.