Lagos News

Fintech could do away with the need for ATMs. Credit: Reuters/Thomas Mukoya

African fintech startups like Flutterwave and Paystack are raising record funds to drive financial inclusion (Infographic)

If you follow the right accounts for young African tech entrepreneurs on Twitter, it can feel like there’s a never ending debate about who gets funding or not in Africa.

Elo Umeh, CEO, Terragon Group

How Nigerian Tech Entrepreneur Elo Umeh Of Terragon Group Is Building An African Digital Powerhouse

Over the last 15 years, Africa has seen significant mobile telecoms growth and now data is being viewed as the ‘new oil’ on the continent.

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.

Aliko Dangote on latest cover of Bloomberg Markets

Africa's richest man is on the latest cover of Bloomberg Markets: Check out his wide-ranging interview

Dangote, who was worth $12.3 billion as of mid-August, according to the Bloomberg Billionaires Index, is modest in his personal life but bold in business.

Quick Guide for Those Who Can't Figure Out the Naira's Worth

Quick Guide for Those Who Can't Figure Out the Naira's Worth (Infographics)

Monetary policy officials unified some of their multiple exchange rates when they let currency dealers quote naira levels used in actual trades this month.

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.

Aliko Dangote, Chairman, Dangote Group

Africa's Richest Man to Invest Up to $50 Billion in U.S., Europe

Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals.

Aliko Dangote, Chairman, Dangote Group

Africa's Richest Man Will Fire Wenger If He Buys Arsenal

Nigerian billionaire Aliko Dangote’s first order of business if he succeeds in buying English Premier League soccer club Arsenal will be to fire the manager, Arsene Wenger.

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.

Nigeria Moves Closer to Single Naira Rate

Nigeria Moves Closer to Single Naira Rate (Infographic)

Nigeria took a step to unify its multiple exchange rates by allowing banks to use a currency window for investors when quoting the naira rather than the official rate.

Flutterwave raises over $10 million in series A financing

Flutterwave, an online payments company founded by Nigerian 26-year old, raises over $10 million in series A financing (Infographic)

Flutterwave, which provides modern payments infrastructure for banks and businesses to make and accept payments across Africa, announced on Monday that it has raised over $10 million in a Series A round of funding.

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.

Aliko Dangote, CEO, Dangote Group

Africa's Richest Man Invests $4.6 Billion in Nigeria Farming

Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria.

Funke Opeke, CEO, MainOne

MainOne CEO Funke Opeke on the challenges of and opportunities for investing in Africa

While many fear investing in Africa, one woman has not been afraid of doing so. Funke Opeke is the Founder and CEO of one of the continent’s largest ICT companies, MainOne.

Johannesburg, South Africa

Rent is cheap in Johannesburg but expensive in Lagos, according to new study

People flocking to South Africa’s economic hub are likely to find some of the world’s cheapest rents.

Nigerian WiFi service provider Tizeti raises $2.1M in seed funding

Nigeria-based Tizeti, a WiFi service provider, has secured $2.1 million in seed funding. The investors included Western Technology Investment, Social Capital, Vy Capital, Picus Capital, Ace & Company, Lynett Capital Partners and Zeno Ventures.

Nigeria has raised $300 million from its first ever diaspora bond

Nigeria has raised $300 million from its first ever diaspora bond

Nigeria’s diaspora population sent home $21 billion in remittances in 2015 and the government wants in on some of that cash.

Omobola Johnson, Senior Partner, TLcom and Nigeria's former Minister of Communication Technology. Credit: ITU

VC firm TLcom rakes in $40 million for new Africa fund

London and Nairobi-based venture firm TLcom Capital has raised $40 million for its new Africa fund. The target is $100 million. TIDE Africa Fund will focus on tech startups in Sub-Saharan Africa.

Godwin Emefiele, Governor, Central Bank of Nigeria

Investors cheer Nigeria currency shift, want more

Nigeria’s recent tentative steps to free up its naira currency, particularly via a new trading window, have gone down well with some adventurous stock and bond investors who are cautiously returning to the markets they fled two years ago.

Bob Diamond, Chairman of Atlas Mara and former CEO of Barclays

Bob Diamond sells $200M Atlas Mara stake to boost holding in Union Bank of Nigeria

Atlas Mara raising $200 million to increase Union Bank stake. Fairfax Africa partners with firm by purchasing shares and bond.

Nairobi is one of the continent’s centers of startup activity.

The future of tech is in 'cities across Africa,' says this start-up CEO

Silicon Valley’s days leading the tech revolution may be coming to an end, according to one optimistic observer who believes the future of technology lies much further abroad than San Francisco.

Remi Sonaiya, 2015 Presidential Candidate, KOWA Party

Is this leading lady Nigeria's next president?

Oluremi Sonaiya doesn’t mind being called a political outsider. In fact, she embraces the term.

Lagos, Nigeria

Fifty years of Lagos. But what about the next 50?

The Nigerian megacity of Lagos, with its 20 million inhabitants, is the biggest in sub-Saharan Africa and is celebrating its 50th anniversary.

Lagos, Nigeria

Uber and its rivals are struggling to keep both drivers and riders happy in Lagos

It was only a year ago that Uber declared that its Lagos market was potentially bigger than its London market.

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.

Nigerians would rather have a .com web address than .ng—and not just because it’s cheaper. Credit: AP/George Osodi/qz.com

Nigerians would rather have a .com web address than .ng - and not just because it's cheaper

On the internet, Nigerians are opting for more global identities through web addresses.

Anthony Joshua

Anthony Joshua: Fighting for Britain but fueled by Nigeria (by Chibundu Onuzo)

The champion’s origins are spelt out in his tattoo and his liking for pounded yam and egusi. But while he’s on the rise, the British press probably won’t report it.

World Bank launches program, XL Africa, to support Africa’s top tech entrepreneurs. Credit: infodev.org

World Bank launches program, XL Africa, to support Africa's top tech entrepreneurs

With support from prominent African investment groups, XL Africa will help 20 selected startups attract early stage capital of between $250,000 and $1.5 million.

Aliko Dangote, CEO, Dangote Group

Africa's richest man promises to list refinery on Nigerian Stock Exchange

Aliko Dangote, the founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange.

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).

Lagos, Nigeria

Lagos is Africa's most valuable startup ecosystem

Lagos has the most valuable startup ecosystem in Africa, with the local entrepreneurship scene worth US$2 billion, according to a new report.

Khanyi Dhlomo, Founder, Ndalo Media: The biggest enabler for African success is actually not necessarily external: Credit: Red Photographic/WSJ

How to encourage innovation in Africa: Khanyi Dhlomo, Ndalo Media Founder & Ashish Thakkar, Mara Group Founder

Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it.

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.

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.

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.

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.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Lagos living: Solving Nigeria's megacity housing crisis

Affordable housing is a considerable challenge for urban areas with large populations, and this is particularly prevalent in Nigeria’s city of Lagos.

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.

Wole Soyinka at home in Abeokuta, Nigeria. Credit: theatlantic.com

A Nigerian Nobel Winner Exits Trump's America

“Trump’s wall is already under construction,” Wole Soyinka says. “Walls are built in the mind, and Trump has erected walls, not only across the mental landscape of America, but across the global landscape.”

Chibundu Onuzo, the author of Welcome to Lagos. Credit: thenational.ae/Getty Images

How a dream gave Chibundu Onuzo an idea to write her new novel Welcome to Lagos

The fallout from a much-hyped debut is never easy to handle, particularly when the author in question published her first book at 21.

Nigeria Could Teach the West a Few Things

Nigeria Could Teach the West a Few Things

A trip is often defined by its surprises, so here are my biggest revelations from six days in Lagos, Nigeria.