New York (NY) News

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.

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.

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.

The first three books Cassava is publishing in the US. Credit: Cassava/Quartz

Nigerian book publisher Cassava Republic is opening shop in the US

For eons, piracy in African book publishing has been something that booksellers lived with and factored in as part of the climate of doing business.

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.

Kelechi Anyadiegwu, Founder & CEO, Zuvaa. Credit: good.is

How one 26-year-old turned $500 into $2 million online (Photos)

What started with a compliment turned one young woman’s idea into a million dollar business. When Kelechi Anyadiegwu started her online African clothing store Zuvaa with $500 two years ago, her idea was to share African-inspired designs with consumers around the world.

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.

Lagos, Nigeria. Credit: FT

Weekend guide to Lagos

The culturally rich city has plenty to offer in the way of art and entertainment.

She Leads Africa runs networking events in Lagos and Abuja, as well as Accra, Nairobi and Johannesburg. Credit: FT

African start-up helps and inspires young female entrepreneurs

In Zambia, one of their blogs is the undisputed arbiter of style. In South Africa, one of their apps is the gateway to private beaches and pop-up dining.

Fashion-conscious Lagosians switch to online shopping

Fashion-conscious Lagosians switch to online shopping

Three years ago, MallforAfrica joined the raft of Nigerian tech start-ups attracting private equity and venture capital backing.

Felix Olale, Partner, LeapFrog Investments

LeapFrog acquires $22M majority stake in Kenya's Goodlife Pharmacy (Video)

LeapFrog Investments, a leading specialist investor in emerging markets, today announced its acquisition of a USD 22m majority stake in Kenya’s GoodLife Pharmacy.

Johannesburg, South Africa. Credit: sothebysrealty.com

Fact of the Day: Johannesburg, South Africa is the #1 tourist destination in Africa for the 4th year in a row

South Africa’s major urban cities remain the most visited in the African continent, attracting millions of tourists, boosting local tourism and injecting billions of dollars into the economy.

Nigeria's largest airline Arik air to double fleet by buying mostly Boeing planes

Nigeria's largest airline Arik Air to double fleet by buying mostly Boeing planes

Nigeria’s largest airline Arik Air plans to nearly double its fleet to 52 planes within 10 years and has already ordered some of them from Boeing, a source at the company said on Monday.

Nigeria's largest airline Arik plans $1B share offer & possible London Stock Exchange listing

Nigeria's largest airline Arik plans $1B share offer & possible London Stock Exchange listing

Nigeria‘s largest airline Arik Air plans to raise as much as $1bn through a private share placement next year and then a possible initial public offering (IPO) in Lagos and London, its managing director said.

Dunkin' Donuts Arrives in South Africa to Challenge Krispy Kreme

Dunkin' Donuts Arrives in South Africa to Challenge Krispy Kreme

South Africans wanting hot glazed doughnuts with a gulp of coffee can now choose between two U.S. brands — Dunkin’ Donuts and Krispy Kreme.

Akinwumi Adesina, President, AfDB

African economies are through the worst of downturn, says AfDB President Adesina

African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.

Africa's richest man Aliko Dangote plans to buy Arsenal in four years.

Africa's richest man Aliko Dangote plans to buy Arsenal in four years (Video)

Aliko Dangote, Africa’s richest man, plans to buy London-based Arsenal soccer team within four years.

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.

Wakaa! explores themes including emigration of young Nigerians. U.S. and British universities are very popular with Nigerian students, who often look abroad for better economic opportunities. Credit: Jermaine Sanwoolu/newsweek.com

Nigerian musical Wakaa! targets Broadway after successful London stint

As the curtain falls on the first Nigerian musical to make the leap to a London theater, its executive producer is setting her sights higher still.

The pool at the Kempinski Hotel Gold Coast City. Credit: Daniel Boshoff/nytimes.com

Accra is Africa's Capital of Cool

With its thriving contemporary art and nightlife scenes, the Ghanaian city of Accra has become a cosmopolitan hot spot. Here’s what to do there.

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.

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.

UberEverything will have to get round logistics difficulties in cities like Lagos. (AP Photo/Sunday Alamba)

Uber Africa will diversify beyond car rides this year with its UberEverything service

Having nearly perfected the business of moving people around on the continent, Uber is set to diversify the core of its business in sub Saharan Africa with the introduction of UberEverything.

Kuben Naidoo, Deputy Governor, South African Reserve Bank

As Bob Diamond readies Barclays Africa bid, South Africa warns on bank buyouts

South Africa raised caution over Bob Diamond’s potential offer for Barclays Plc’s local unit, with the central bank signaling that private-equity bidders for the country’s third-largest lender would face opposition from regulators.

Tony Elumelu, Chairman, UBA Group. Credit: brandessencenigeria.com

Nigeria's UBA plans African expansion, says Chairman Tony Elumelu

United Bank for Africa (UBA) plans to increase its presence in Africa outside Nigeria to 25 countries from 18 now and inject capital into its subsidiaries in Kenya, Tanzania and Uganda, its chairman said on Tuesday.

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.

Davido

How Davido Became African Pop Music's Fortunate Son

Once, while on a Greyhound layover in Birmingham, Alabama, David Adedeji Adeleke, the Nigerian pop star now better known as Davido, spotted a familiar face on the CD rack of a bus station rest stop.

A scene from the Lagos set of “Walking Away”, a film from ROK Studios and Divine Touch Productions.

The Netflix of Africa Doesn't Need Hollywood to Win

Walter Taylaur, a gangly, gregarious Nigerian writer-director, needed a place to shoot his movie, Gbomo Gbomo Express, a low-budget “comedy-thriller.” In the movie, the head of a music label hits it off with a socialite while out on the town in Lagos.

Jacob Zuma, President of South Africa

South Africa joins emerging markets wave of sovereign bond sales

South Africa is preparing its first sale of debt this year as global investors including BlackRock and Pimco declare that emerging markets represent a buying opportunity after three years of underperformance.

Skyscrapers stand on the city skyline looking west from the Carlton Center in Johannesburg, South Africa, Photographer: Dean Hutton/Bloomberg

Private equity firms builds war chest to invest in Africa (Infographic)

Private-equity companies amassed a $4.3 billion war chest for investment opportunities in Africa last year as the global commodity rout and weakening local currencies cut prices of potential target companies.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange CEO Oscar Onyema appointed to second five-year term

The Nigerian Stock Exchange (NSE) has approved the appointment of Oscar Onyema to a second five-year term as Chief Executive Officer of the Exchange effective immediately.

iROKOtv hopes to chill Netflix Africa plans (Infographic)

When Netflix announced its launch in Africa earlier this year, many assumed the $30 billion streaming juggernaut would steamroller local competitors on its path to global domination.

Jason Njoku, Founder & CEO, iROKOtv

Jason Njoku's iROKOtv raises $19M in series D financing

iROKOtv, an online entertainment platform that targets audiences in Sub-Saharan African countries, plans to strike more deals in Nigeria’s booming movie industry after securing $19 million in funding from French premium cable company Canal+ and Kinnevik, a returning investor.

Attaendees at a Speed Meet Africa event discuss new opportunities

Goodbye Europe, Hello Africa: Frances Mensah Williams, Managing Editor, ReConnect Africa

When Ernestina Ellen Boadi resigned from her job as an Events Management Executive in London, it wasn’t because she planned to switch to a better job in the city.

Aita Ighodaro, Director, Idaro

Dynamic Nigerian diaspora chases glittering ambitions

In her debut novel Sin Tropez, Aita Ighodaro drew on her experience as a fashion model to explore the complex consequences that await three young women lured aboard a playboy’s super yacht by the intoxicating promise of easy money and wild excess.

World Trade Center (WTC) Abuja

Nigeria's new World Trade Center poised to send its economy sky high (Photos)

Nigeria‘s capital city of Abuja is about to get a new heart: a brand new World Trade Center complex. The development is expected to open to the public early next year after the completion of the first phase of construction.

Jason Njoku. Founder & CEO, iROKOtv

iROKOtv - The Netflix of Africa: Ashish Thakkar, Founder, Mara Group

Behind a high-security gate on a side road off the frenetic Apapa Oworonshoki Expressway, in the Anthony Village district of mainland Lagos, stands a nondescript three-story concrete building.

Jaime Dimon, Chairman, President & CEO, JP Morgan Chase

JPMorgan plans Africa expansion even as Ghana and Kenya regulators refuse entry

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., which has offices in South Africa and Nigeria, said the bank wants a presence in more African countries to spur growth, even after regulators in Ghana and Kenya refused the lender entry.

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

Bob Diamond's Atlas Mara eyes three more Africa acquisitions in 2015

Atlas Mara Ltd., the banking group that’s acquiring African lenders, is seeking to buy as many as three more businesses in 2015, co-founder Robert Diamond said.

A view of the Yaba district in Lagos, home to Nigeria's dominant start-up scene (Reuters/Akintunde Akinleye)

Why Nigeria's newest startups are sprouting up outside the megacity of Lagos

Even though Nigeria is Africa’s largest economy, Lagos, its commercial capital, still has a disproportionately strong hold over all business sectors.

Building in Banana Island, Lagos, Nigeria

Nigeria's Lagos among top five best cities to buy property in right now

When considering real estate investment opportunities, people normally think of western cities like London and New York.