Goldman Sachs News

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.

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.

A Jumia office: In 2016, Jumia became Africa's first "Unicorn". Credit: qz.com/Reuters/Akintunde Akinleye

Here's what could happen if Africa's top mobile operators and start-ups work together

Telecom operators across the African continent continue to face significant risks when it comes to revenue growth.

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.

The arrival of Uber and Little Cab may bring cheaper and more reliable transport by taxi but is unlikely to solve Nairobi’s congestion. Credit: theguardian.com/Tom Cockrem/Getty Images/Lonely Planet Images

Uber and Little Cab's battle to control the streets of Nairobi

Uber is in the middle of a bruising battle for dominance in east Africa’s largest economy: Kenya. The ride-hailing company started operating in the cities of Nairobi, Mombasa, Kisumu and Thika last year.

Jumia staff in Lagos, Nigeria

The web startups looking to cash in on 1 billion African consumers (Photos)

It is a cliched image. Passengers lined up at the check-in desk for various flights back to African capitals, trolleys overloaded and suitcases straining at the weight limit.

Jason Njoku, Founder & CEO, iROKOtv

iROKOtv: From 'Netflix of Nigeria' to 'Nollywood' producer

When 36-year-old Nigerian entrepreneur Jason Njoku talks about em­bracing failure, he is speaking from experience.

News Featured News Startups Technology

Online shopping startup MallForAfrica partners with e-commerce giant eBay

American eBay sellers will soon gain access to Africa’s biggest consumer markets.

Here are 7 predictions for Africa's tech sector

Here are 7 predictions for Africa's tech sector

As Africa transitions from the margins to the mainstream of the global economy, technology is playing an increasingly significant role.

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.

Stephane Richard, Chairman and CEO of Orange

French telco giant Orange to invest $85 million in Nigerian e-commerce group Africa Internet Group

French telecommunications company Orange is to invest 75 million euro ($85 million) in Nigerian e-commerce group Africa Internet Group (AIG) and become a shareholder, the two companies said on Tuesday.

Nigerian e-commerce site DealDey gets acquired by Swiss media group Ringier (Infographic)

Nigerian e-commerce site DealDey gets acquired by Swiss media group Ringier (Infographic)

The African subsidiary of Swiss media and e-commerce company Ringier has acquired Nigerian online shopping startup DealDey for an undisclosed amount.

AIG is the company behind Africa's largest e-commerce company Jumia

Goldman Sachs & MTN to invest $245M in Nigerian e-commerce firm Africa Internet Group (AIG)

Africa Internet Group (AIG) has secured €225 million ($245 million) in funding from investors including US bank Goldman Sachs, South African telecoms giant MTN and German startup incubator Rocket Internet.

Amy Jadesimi, MD, LADOL

Returnee Amy Jadesimi in quest for bigger role in Nigeria's energy industry

While the collapse in oil prices might seem like unequivocally bad news for Nigeria’s energy industry, there is one Lagos-based executive who sees only opportunity.

The Key Ministers in Nigerian President Buhari's Cabinet

Here are five key ministers in Nigerian President Buhari's cabinet

After more than seven months since he won election as president in Africa’s biggest economy, Muhammadu Buhari named his cabinet.

Okechukwu Enyinna Enelamah, MD, CFA is the Founder & CEO of African Capital Alliance (ACA)

Nigeria's Buhari asks head of country's largest private equity firm to join cabinet

Nigeria’s President Muhammadu Buhari has asked the head of the country’s biggest private equity firm to join his cabinet, Senate President Bukola Saraki said on Tuesday, as lawmakers started screening candidates for a long-awaited government.

Mobile phone use has rocketed in Nigeria in the last decade but mobile money has not. (AP Photo/Sunday Alamba)

Nigerian mobile money leader Paga is doubling down on building a payments giant

Despite its success in other parts of Africa, mobile money has not fully taken off in Nigeria, Africa’s largest economy.

Jabu Mabuza, Chairman, Telkom

MTN may have a new competitor in South Africa (Infographic)

Telkom SA SOC Ltd., South Africa’s biggest landline provider, sees a potential acquisition of closely held wireless company Cell C Pty Ltd. as a way to grow its own mobile-phone business.

MTN in talks with IHS to sell towers for as much as $2 billion

MTN in talks with IHS to sell South Africa towers for as much as $2 billion

MTN Group Ltd. has begun talks with phone-tower operator IHS Holding Ltd. over South African towers the wireless carrier is seeking to sell in a deal valued at as much as $2 billion, according to a person familiar with the matter.

Mustafa Chike-Obi, CEO, Asset Management Corporation of Nigeria (AMCON)

Nigeria’s president replaces "bad bank" AMCON CEO Mustafa Chike-Obi with Ahmed Lawan Kuru

Nigeria’s President Muhammadu Buhari has replaced the CEO of the government-owned “bad bank” set up to resolve a financial crisis five years ago. This is Buhari’s second change of leadership of a key state company in a month.

JPMorgan hires HSBC trader Lebogang Moropa to start up South Africa prime brokerage business

JPMorgan hires HSBC trader Lebogang Moropa to start up South Africa prime brokerage business

JPMorgan Chase & Co. rehired a trader from HSBC Holdings Plc as the biggest U.S. bank sets up prime brokerage operations in South Africa for the first time.

Women hold New Look shopping bags on Oxford Street in London, February 12, 2010. REUTERS/SUZANNE PLUNKETT

South Africa's Brait buys Britain's New Look for $1.2B

African investment heavyweight Brait SE (BATJ.J) said it will pay $1.2 billion for virtually all of budget clothes retailer New Look, giving it a substantial presence in Britain’s fiercely competitive fashion retail market.

Uche Orji, CEO, Nigeria Sovereign Investment Authority

Nigeria's sovereign wealth fund has 'good year' tapping dollar investments: Uche Orji, CEO, Nigeria Sovereign Investment Authority

Nigeria’s $1.55 billion sovereign wealth fund had a “good year” after weighting its investments toward dollar assets, according to Chief Executive Officer Uche Orji.

Born in Ivory Coast, raised in Morocco and educated in France, at the elite Ecole Polytechnique, francophone Tidjane Thiam has spent a lifetime defying the odds. Photographer: Simon Dawson/Bloomberg

Tidjane Thiam, Credit Suisse's next CEO: The gnomes of Zurich bet on the man from the Pru

To his family in Africa, he was “l’ultime espoir” — the last hope. Tidjane Thiam, it’s safe to say, didn’t disappoint. Over the past 30 years, Thiam has traced the arc of ambition from his native Ivory Coast to the top of a venerable British insurer, Prudential Plc, sweeping aside the last racial barrier in U.K. boardrooms.

Cobus Visagie looks to pass the ball during Springbok training in Cape Town in 2001. Source: Touchline Photo/ALLSPORT/Getty Images

Big-tackling ex-Springbok rugby player Cobus Visagie starts Africa fund

Cobus Visagie recalls making 18 tackles the day South Africa’s national rugby team kicked its way into the World Cup record books to defeat England.

Cell C

Cell C Said to Weigh Sale to South African Wireless Carriers

Cell C Pty Ltd. is exploring options for the third-largest South African wireless carrier including a sale to domestic competitors, according to two people familiar with the matter.

Addis Ababa, Ethiopia

Ethiopia bets on grand projects in drive for industrial power

Chinese workers mingle with Ethiopians putting the finishing touches to a metro line that cuts through Addis Ababa, one of a series of grand state infrastructure projects that Ethiopia hopes will help it mimic Asia’s industrial rise.

Jim O'Neill, former Chairman of Goldman Sachs Asset Management

MINT country Nigeria has a lot of exciting investment opportunities: Jim O'Neill, former Chairman of Goldman Sachs Asset Management

In spite of seeming tensions in Nigeria, as its general election looms, renowned global investor and former Chairman of Goldman Sachs Asset Management, Dr. Jim O’Neill, has advised investors not to be distracted, insisting that Nigeria has a lot of exciting investment opportunities.

A shopper peruses the grocery aisles at the South Africa–based Shoprite in the three-year-old Ikeja City Mall. Photo credit: nationalgeographic.com

Global X MSCI Nigeria ETF: Speculative multi-year play approaching attractive valuation

The bet is a very long-term (multi-year) play on: (1) Earnings growth; and (2) Increased multiples assigned to equities by market participants as Nigeria’s markets mature.

Johannesburg, South Africa

Investors keep an eye on the big picture in Africa, in spite of short-term challenges

Concerns about the scale of the Ebola crisis and plunging commodity prices would have had investors fleeing Africa not that long ago. But dealmaking in the sub-Saharan region is buoyant as most investors set aside short-term worries and bet big on growth.

Maria Kiwanuka, Minister of Finance, Uganda

African Women To Watch: Finance (Video)

Women make up more than half of the workforce in financial institutions globally. However, only 19% are in senior positions, a mere 14% hold board seats, and just 2% are CEOs, according to a 2013 study by PwC.

Uber

Uber is coming to Kenya, following launches in South Africa, Nigeria, and Egypt

Uber, the rapidly growing taxi app, is preparing to launch in Kenya.

Miller beer by SABMiler

M&A activity heats up in Africa as investors bet on growth

Concerns on the scale of the Ebola crisis, current levels of political unrest and plunging commodity prices would have sent investors rushing out of Africa not long ago.

Miguel Azevedo, Head of Investment Banking, Citigroup Africa

Citi's Head of African Investment Banking Miguel Azevedo preaches Africa's growth story

Because Miguel Azevedo spends two weeks each month traveling on the African continent, Citigroup’s head of African investment banking must get special permission from his firm to fly to countries affected by the Ebola crisis.

CEO of Nigeria’s Sovereign Wealth Fund, Uche Orji: “It is really important that the human resources that we have stay—that is what will change Africa.

Africa's prospects rise with tide of returning professionals: Uche Orji, CEO & MD, Nigeria Sovereign Investment Authority

A rising tide is lifting optimism in Africa.It’s a tide of returning professionals that is bucking a counter trend of growth being dragged down by a cooling Chinese economy.

Ed Winter, CEO, FastJet

FastJet in talks to add 10 Airbus A319s by end of 2015: Ed Winter, CEO, FastJet

FastJet Plc (FJET) said it’s in talks about adding more Airbus Group NV (AIR) short-haul jets to the fleet as the discount carrier seeks to open bases in Zambia, Zimbabwe and Kenya next year while expanding operations in Tanzania.

Ngozi Okonjo-Iweala, Nigeria's Minister of Finance

Nigeria's 2014 GDP growth will exceed 6 percent: Ngozi Okonjo-Iweala, Nigeria's Minister of Finance

Nigeria’s finance minister said on Friday she is confident that growth in 2014 will be around the government’s latest forecast of 6.5 percent after discounting the economic impact of the insurgency waged by the Islamist group Boko Haram.

Catherine Uju Ifejika is one of Africa's few female oil industry bosses

Nigeria's growing number of female oil bosses

The oil and gas industry is still overwhelmingly male, with surveys showing that the executive boardrooms of petroleum companies are mostly a boys’ club.

Kunmi Otitoju, Founder, Minku

Meet The Nigerian Fashion Designer Building Africa's Hermès: Kunmi Otitoju, Founder, Minku

Kunmi Otitoju, a 30-year-old Nigerian fashion designer and entrepreneur, holds two Computer Science degrees – a Bachelor of Science degree with first-class honors from Howard University and a Master of Science degree from Virginia Tech.

Thinknum

FinTech startup Thinknum, co-founded by Nigerian Gregory Ugwi, raises $1M in series A funding

Wall Street firms have been talking about improving the working conditions for junior bankers in recent months.

Mobile Phone User in Africa

Africa's telecoms frontier (Video)

Sub-Saharan Africa is the fastest growing region in terms of mobile subscriptions.