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.
A bill that has passed a second reading by Nigeria’s parliament could pave the way for the Nigerian Stock Exchange to issue its own shares
Etisalat Nigeria is focused on getting the telecoms group back on track to make a profit after it was saved from collapse, while working on the paperwork to eventually raise new capital.
Having been in the pipeline for some time now, Nigeria’s $300m London Stock Exchange-listed diaspora bond went down very well with investors, being 130% oversubscribed.
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.
Orange Telecom and Vodafone are seeking to purchase 65 percent of Etisalat Nigeria following the departure of the UAE-based Etisalat Group from its Nigerian business, reports Brandish citing unnamed sources.
Sahel Capital, fund manager for the Fund for Agricultural Finance in Nigeria (“FAFIN”), is pleased to announce the successful $65.9 million final close of its debut fund.
By 2050 around 2.2 billion people could be added to the global population and more than half of that growth will occur in Africa.
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.
Ghanaian tech startup, OMG Digital, has raised seed funding of $1.1 million from international investors.
Nigeria’s diaspora population sent home $21 billion in remittances in 2015 and the government wants in on some of that cash.
Buyout groups investing in Africa are turning east and shunning the oil-rich western part of the continent as they grapple with the effect of low commodity prices on private equity’s final frontier.
Atlas Mara raising $200 million to increase Union Bank stake. Fairfax Africa partners with firm by purchasing shares and bond.
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.
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.
The Peter Drucker management aphorism, “You can’t manage what you can’t measure,” is a favorite of Yannick Lefang, the founder of Kasi Insight, an integrated marketing research firm operating in seven African countries.
Shoprite Holdings Ltd., the South Africa-based supermarket chain, is our single largest holding in the retail industry in our Africa investment strategy.
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.
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.
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.
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.
In Sub-Saharan Africa, private equity funds offer investors access to competitively priced assets that have strong growth potential in a region where stock exchanges are still developing.
It was only a year ago that Uber declared that its Lagos market was potentially bigger than its London market.
He has a staggering seven nominations at the Billboard Music Awards and will come to the UK to headline festivals this summer.
Igho Sanomi, 41, is the founder of Taleveras, a $2 billion (revenues) international commodities trading company active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas and power.
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.
On the internet, Nigerians are opting for more global identities through web addresses.
Nigeria has appointed advisers to help it set up a national airline and develop its aviation infrastructure — currently seen as a barrier to economic growth — to create a hub for West Africa, junior aviation minister Hadi Sirika said earlier this month.
The sorry state of South African governance may be dominating headlines, but a closer inspection of Africa’s financial news reveals a heartening trend in the continent’s frontier economies.
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.
Sub-Saharan African economic growth is expected to pick up in 2017 after reaching the lowest level in 22 years in 2016.
Nigeria’s government has long talked about diversifying its oil-dependent economy but it’s actions have not always matched the bluster.
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.
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.
First-quarter sales rose 7.1 percent boosted by Nigeria and Iran. Carrier still has ‘work to do’ to meet full-year targets
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.
After the U.S. election in November, many Africa investors became concerned that a move toward a more isolationist trade policy in the U.S. would hinder business, trade and capital flows to and from Africa.