Nigeria News

Bryan Leith, COO, KPMG Africa

Africa's Economic Prospects: Bryan Leith, ‎COO, KPMG Africa

While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.

Will he cash in on Africa's real estate boom?

Will he cash in on Africa's real estate boom?

You’ve heard it before: Africa, the new investment frontier! Risky, but high reward potential, the mantra goes of emerging markets — particularly in Africa, home to 13 of the 20 fastest-growing economies in the world.

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.

Monde Twala, VP of Viacom Africa’s BET, Youth and Music portfolio

Viacom and Turner Targeting Africa's Millennials With Multi-Platform Offerings

With more than half the population of Africa under the age of 18, networks are looking for more ways to target young audiences with cross-platform content, hoping to grow today’s generation of increasingly connected African youths into tomorrow’s brand-loyal consumers.

Is Donald Trump racist? Chimamanda Ngozi Adichie certainly thinks so

Is Donald Trump racist? Chimamanda Ngozi Adichie certainly thinks so (Video)

Renowned novelist Chimamanda Ngozi Adichie shuts down nonsensical argument being made by the American Spectator’s editor in chief American R Emmett Tyrrell.

Chinelo Anohu-Amazu, Director General, Pension Commission of Nigeria (Pencom)

Africa still attractive to investors, says PenCom Head Chinelo Anohu-Amazu

Portfolio flows into Africa may be falling but this marks a readjustment in the way investors interact with the continent, says Chinelo Anohu-Amazu, Head of Nigeria’s National Pension Committee (PenCom).

There's still room for growth. Credit: qz.com/Reuters/Akintunde Akinleye

The "Africa Rising" story isn't over yet, despite China's slowdown and flagging growth in Nigeria and South Africa

The idea that African economies are on the way up first became popular around 2010, buoyed by a commodities boom and improved governance across the continent. Now, with flat commodity prices and slowing demand from China, the narrative of “Africa Rising” has mostly fallen out of fashion.

Bob van Dijk, CEO, Naspers

Africa's most valuable company Naspers worth less than what it owns (Infographics)

Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion.

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

According to the World Bank, 35 of 47 economies in sub-Saharan Africa took at least one step in making it easier to do business in their country in 2015.

MTN Nigeria

MTN versus Nigeria

MTN’s misadventures in Nigeria have become a cautionary tale for multinationals and governments in the region – but for which side is still a matter of some debate.

Scatec Solar and Norfund sign power purchase agreement for Mozambique's first large-scale scale solar plant

Scatec Solar and Norfund sign power purchase agreement for Mozambique's first large-scale solar plant

In addition to this new 40 MW plant in Mozambique, Scatec Solar operates 200 MW of solar power plants in South Africa and Rwanda and has new projects under development across Africa, including in Mali, Nigeria and Kenya.

Linda Ikeji Social

Linda Ikeji Social: Nigeria's super blogger Linda Ikeji launches social network and will share ad revenue with users (Video)

The name Linda Ikeji strikes fear into many a Nigerian celebrity. They’re often petrified their secrets are about be revealed in the powerful one-woman gossip machine that has dominated online media in Nigeria for the last decade.

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.

A visitor takes photographs from the Ou Kaapse Weg as seasonal fog covers the city of Cape Town. Almost 7,000 visas were issued by the South African embassy in the UAE for the first seven months of this year. Credit: thenational.ae/Mike Hutchings/Reuters

Hotel developers will invest billions of dollars in African projects over the next few years

Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.

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.

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.

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.

Okechukwu Enelamah, Nigeria's Minister of Industry, Trade and Investment (L) and Natalie Kolbe, Partner & Co-Head of Private Equity at Actis

An Enabling Enterprise Environment And Accountability Are Key For Nigeria's Long Term Future: Okechukwu Enelamah, Nigeria's Minister Of Industry, Trade & Investment And ACA Co-Founder & Former CEO

Actis, a leading growth markets investor, hosted over 200 senior public and private sector decision makers in Lagos at Heritage Place in Ikoyi to share Actis’ perspectives on the Africa opportunity and potential for Nigeria.

Ebi Atawodi, General Manager, Uber Lagos. Credit: marcopolis.net

Uber Partners First Bank to Offer Loans to Nigerian Drivers

Uber Technologies Inc. is partnering with FBN Holdings Plc’s First Bank Nigeria to provide loans to drivers.

Nigeria's new Oba of Benin: The coronation of a lifetime. Credit: punchng.com

Nigeria's new Oba of Benin: The coronation of a lifetime (Photos)

The rainy season is supposed to be over in Nigeria, but on Thursday just before midnight, torrential rain and crackling lightning let loose over Benin City.

Yemi Alade

The boom in Africa's music industry continues

Demand for homegrown contemporary music is sweeping Africa and driving a creative boom in the continent’s thriving music industry.

Novare Lekki Mall (Illustration)

Nigerian property crash attracts brave investors betting for the long-term

A property market crash in Nigeria offers opportunities for brave investors betting that Africa’s most populous nation will deliver high returns when it climbs out of recession.

How Africans are using technology to solve problems

How Africans are using technology to solve problems (Infographic)

The advent of the internet and technology has changed the world. With over 70% of Africa’s population under 30, the continent has one of the youngest populations in the world.

The Legend Hotel (Illustration); which will be located within the Murtala Muhammed International Airport boundaries in Lagos, Nigeria; will feature 54 guest rooms, including eight suites. Credit: Curio - A Collection by Hilton/estateintel.com

Hilton Expands Presence in Nigeria with Signing of Hilton Lagos Airport

Hilton has announced the signing of a management agreement with Quality Inspection & Testing Services Limited to open a 350 guest-room and suite hotel at Lagos’ Murtala Muhammed International Airport, Nigeria.

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.

93 Days: Movie honors Nigerian hero doctor Stella Ameyo Adadevoh who helped stop spread of ebola

93 Days: Movie honors Nigerian hero doctor Stella Ameyo Adadevoh who helped stop spread of ebola

As she lay on the hospital bed, weak and coughing, Dr Stella Ameyo Adadevoh wished her son a happy birthday over the phone. She asked him about his birthday presents and insisted his dad buy him a cake, after all, what’s a birthday without cake?

Africa's spending to exceed $5.6T by 2025: McKinsey

Africa's spending to exceed $5.6T by 2025: McKinsey

Africa’s household and business spending will top $5.6tn by 2025 and its manufacturing output could reach $93bn, according to a new McKinsey & Company report.

General Electric to invest $150 million in Nigeria

General Electric to invest $150 million in Nigeria

U.S. industrial firm General Electric plans to invest around $150 million in Nigeria by 2017, a senior executive said on Monday.

Kia Motors to assemble cars in Ethiopia

Kia Motors to assemble cars in Ethiopia

South Korea’s Kia Motors Corp signed a deal with an Ethiopian company last week to start assembling cars in Ethiopia and is thinking of similar operations elsewhere in Africa.

Wale Tinubu, CEO, Oando

Helios Investment Partners enters agreement to acquire 49% of Oando Gas & Power in $115.8 million deal

Oando has announced the execution of a definitive agreement with Helios Investment Partners to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited (OGP).

Christina Sass, Co-Founder & COO, Andela

Andela to invest in its graduates’ startups

Andela, a company working to bring the top 1% of African tech talent to engineering teams in need of capable, skilled developers, will eventually invest in the startups from those who complete its four-year program.

ToLet.com Co-Founders (L-R): Sulaiman Balogun, Fikayo Ogundipe, Dapo Eludire and Seyi Ayeni

Nigeria's ToLet.com.ng raises $1.2M from Frontier Digital Ventures

Lagos-based real estate classifieds startup ToLet.com.ng announced on Tuesday that it has closed a $1.2 million series A funding round from Frontier Digital Ventures.

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.

Green White Green (Movie)

Nollywood: Nigeria stands out at the Toronto International Film Festival

Nigerian filmmakers, producers and actors are hoping a spotlight on Lagos at this year’s Toronto International Film Festival (TIFF) will open Nollywood up to the world.

An Instagram post showed girls protesting against hair rules at the Pretoria school.

Were South African school hair rules racist? Maybe not.

As I followed the recent protests at a South African girls’ school where students insisted on being allowed to wear afro hairdos to school, I recalled my own days as a student in what used to be one of Nigeria’s most prestigious boarding schools for girls.

Visa launches mobile money service mVisa to rival Safaricom's M-PESA

Visa launches mobile money service mVisa to rival Safaricom's M-PESA

Visa Inc., the world’s largest payments network, introduced a mobile-phone application to enable cashless transactions in Kenya, where the majority of wireless payments are being done through the nation’s biggest telecommunications company, Safaricom Ltd.

Volkswagen Polo Vivo

Volkswagen expands Africa strategy with Kenya car assembly plant

Volkswagen continues to drive forward with the regionalization of the global automotive business. The brand is planning to start production of the Polo Vivo in Kenya at the end of 2016.

Chidi Mokeme (L) and Ramsey Nouah, in the Izu Ojukwu-directed movie '76

Nigeria's Nollywood showcases its massive potential at Toronto Film Festival (Video)

At times it feels like Nollywood has been around forever, such has been the Nigerian movie business’ impact on pan-African pop cultures and awareness around the world—and in Nigeria itself.

Abidjan, Ivory Coast

Ivory Coast: Tech Hub on the Rise

Following years of political turmoil, Côte d’Ivoire is growing quickly and attracting investment. Now, the government is trying to position the country as west Africa’s technology and start-up hub.

7 Reasons to Be Bullish on MTN Group

MTN Nigeria said to target $1 billion in Nigerian Stock Exchange IPO

MTN Group Ltd., Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about $1 billion in an initial public offering.

IrokoX

iROKO launches IrokoX online portal to showcase Africa's creative talent

Africa’s artists have a new online stage to showcase their talent. Nigeria based digital entertainment startup Iroko has launched IrokoX, a multi-platform Pan-African network for filmmakers, musicians, and other creative aspirants to produce, distribute, and monetize short-form content.

Wizkid: The Nigerian artist is set to sign the biggest record deal ever by an African artist

Wizkid is set to sign the biggest record deal ever by an African artist

Wizkid has pretty much cemented his place as top dog on the scene. The Nigerian star’s adding another notch on his belt with these new reports that he’ll be signing a multi-million dollar deal with a major record label imminently.