Nigeria News

Paga agent: Mobile money is catching on. Credit: qz.com

Nigerians are finally using mobile money services

It took a while to catch on but Nigerians are finally using mobile money. Over the past decade, financial institutions and telecoms operators, sometimes in collaboration, as well as standalone firms have tried to deploy mobile money services in Africa’s largest economy with mixed success.

Jason Njoku, Founder & CEO, iROKOtv

Disruptive technology is all about timing: Jason Njoku, Founder & CEO, iROKOtv

I’ve lived back in Nigeria for six years now, fully entrenched in the ways, means and cultural idiosyncrasies of doing business in Africa’s largest economy. Or so I thought …

World Scrabble champion Wellington Jighere, 33, (right) is one of Nigeria's many masters. His strategy: "When you are expecting me to do the traditional thing, I will just choose to do something that is uncharacteristic."

Fact of the Day: Nigeria is the number one scrabble nation in the world (Audio)

Nigeria is the English-speaking world’s Scrabble superpower. Africa’s most populous nation is home not only to the global Scrabble champion, but team Nigeria ranks as the world’s top Scrabble playing nation — ahead of the U.S. in second place.

Here are the top 10 Sub-Saharan African cities for consumer spending growth (Infographic)

Here are the top 10 Sub-Saharan African cities for consumer spending growth (Infographic)

An extensive overview of 24 first- and second-tier cities in Cameroon, Kenya, Nigeria and South Africa in a recently published white paper reveals particularly dynamic growth shifting from the region’s mature consumer markets in South African metropolises to the urban areas in other Sub-Saharan countries.

iHub, Nairobi, Kenya

A few things we learned about tech hubs in Africa: GSMA (Infographic)

The last mapping exercise done by the World Bank in September 2015 listed less than 120 tech hubs in Africa. As of July 2016, GSMA’s research suggests there are 314 active tech hubs in Africa.

Diane Radley, Old Mutual Investment Group

Why Old Mutual is investing millions in Nigeria's property and agriculture markets

This month, South African financial services firm Old Mutual Investment Group announced a partnership with Nigeria’s sovereign wealth fund for the investment of US$700m in real estate and agriculture.

Tech companies help foster the startup ecosystem in Africa. Credit: Reuters/Thomas Mukoya/qz.com

Half of the tech hubs in Africa are located in South Africa, Kenya, Nigeria, Egypt and Morocco

A total of 314 tech hubs and incubation centers was recorded in July by the global telecoms industry body GSMA’s Ecosystem Accelerator, a program that works to enable partnerships between operators and developers on the continent.

Davido: “Most music that comes out these days has our elements already in it, so why wouldn’t the people love African music?” (Tom Oxley/Washington Post)

Is this the year that African music will conquer the United States?

Whether it’s through hip-hop, R&B, Top 40 radio or Internet memes, Drake is a ubiquitous presence on our cultural landscape. Yet for all of his inescapable hits in the past few years, it was only in May that Drake finally topped the Billboard charts.

South Africa Leapfrogs Nigeria: Back to No. 1 spot in Africa on currency fluctuations. Credit: Bloomberg/IMF

South Africa's economy regains rank as Africa's biggest on rand appreciation (Infographic)

South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigeria’s snacks industry has attracted the interest of a private equity firm founded by Sir Bob Geldof in a boost for Africa’s biggest economy.

BON Hotel Addis Ababa

BON Hotels extends its footprint into Ethiopia

BON Hotels, a hospitality company that owns, manages and markets hotels throughout Africa, has added yet another property to its ever-growing stable.

Agbogidi Obi James Ikechukwu Anyasi II

Kingdoms, thrones and crowns: Inside the lives of Nigeria's monarchs (Photos)

The country’s traditional rulers were stripped of their constitutional power in 1963, but their descendants still serve as the local custodians of law and order.

African Street Style. Credit: Twitter/‏@THECAROLDANVERS

Video: How many people use social media in Africa?

In 2014, 100 million people were using Facebook each month across Africa, over 80% via mobile. That figure has now jumped to over 120 million.

Iyinoluwa Aboyeji, Co-Founder, Andela. Credit: thescoopng.com

Andela Co-Founder Iyinoluwa Aboyeji is leaving to start payments company Flutterwave

Just eight weeks after raising $24 million in a funding round led by Mark Zuckerberg’s foundation, Andela, one of Nigeria’s best-known startups, is saying goodbye to its co-founder Iyinoluwa ‘E’ Aboyeji.

TV and Media in Nigeria - How changing consumer needs are creating a new media landscape: Ericsson

TV and Media in Nigeria - How changing consumer needs are creating a new media landscape: Ericsson (Report)

Increasing ownership of digital devices is prompting Nigerians to explore new modes of content consumption. They want freedom and flexibility and this is manifested in the popularity of digital media and online content.

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.

Africa attractiveness program 2016: EY

Africa attractiveness program 2016: EY (Infographics & Reports)

We are at an inflection point in terms of the structural evolution of most African economies. Decisions made and actions taken now will determine, which of these economies consolidate the gains made over the past decade as a platform for sustainable growth in coming decades.

Mobile Economy - Africa 2016: GSMA

The mobile economy - Africa 2016: GSMA (Infographics & Report)

At the end of 2015, 46% of the population in Africa subscribed to mobile services, equivalent to more than half a billion people. The region’s three dominant markets – Egypt, Nigeria and South Africa – together accounted for around a third of the region’s total subscriber base.

Tony Allen

Lagos calling: Tony Allen opens up Nigeria's music scene

If you want a city that’s a modern musical powerhouse, you don’t need to think of London or Los Angeles or New York.

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.

What Africa's banking sector needs to do to survive

What Africa's banking sector needs to do to survive: Ndubuisi Ekekwe, Founder, African Institution of Technology

Across Africa, banking is being redesigned. Technology has emerged as a competitive weapon in driving operational excellence and superior service quality.

Opeyemi Awoyemi, Ayodeji Adewunmi and Olalekan Olude, Founders of jobs site Jobberman. Credit: Jobberman/theguardian.com

Here are Africa's top 10 tech pioneers

Africa’s digital transformation would be nothing without the tens of thousands of people who have invested, and continue to invest, energy into propelling it forward.

MTN to list on the Nigerian Stock Exchange in 2017

MTN to list on the Nigerian Stock Exchange in 2017

MTN Group Ltd. appointed units of Citigroup Inc. and Standard Bank Group Ltd. as advisers on a planned listing of the wireless company’s Nigeria business on the country’s local stock exchange, part of a deal struck with the West African nation’s government to settle a record fine.

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.

They Want Us to Tell Our Stories . But Only In the Way They Want to Hear It

They Want Us to Tell Our Stories. But Only In the Way They Want to Hear It

If you’re a writer of African descent, and you’re plugged into the literary or media scene, you’re probably aware of the term ‘Poverty Porn’.

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

Two Years after Its Launch Uber Nigeria Proves to Be a Success

My name is Ebi Atawodi and I am the General Manager of Uber in Nigeria. We launched Uber in Nigeria in 2014. We are just under two years old now which I think is quite a feat for a Nigerian business!

Africa tops 500M mobile users, adds $150B to economy

Africa tops 500M mobile users, adds $150B to economy (Infographic)

Africa now has half a billion mobile users, and the mobile ecosystem added $153-billion to the African economy in 2015, according to a new GSMA study, which predicts smartphone numbers will triple in the next five years.

Ada Osakwe, Founder & CEO, Agrolay Ventures

How I moved from the public sector to the private sector: Ada Osakwe, Founder & CEO, Agrolay Ventures

I have a first-class degree in Economics from the University of Hull, UK. I have a Master’s degree in Economics and Finance from the University of Warwick, UK, and an MBA from the Kellogg School of Management at Northwestern University, USA.

Why online marketplaces are not helping e-commerce grow in Nigeria: Oyihoma Saleh, CEO, Kosava Deals

Why online marketplaces are not helping e-commerce grow in Nigeria: Oyihoma Saleh, CEO, Kosava Deals

Nigerians are certainly warming to the idea of shopping online —  especially through mobile  — and this is widely expected given how suited the concept is for addressing the needs of an underserved population with a fast-growing middle class.

Chinua Achebe

Chinua Achebe's Things Fall Apart (Audio)

In 1958, Nigerian writer, Chinua Achebe, published his first book “Things Fall Apart”. It was set in pre-colonial rural Nigeria and examines how the arrival of foreigners led to tensions within the Igbo society.

Aliko Dangote (Left), Kola Karim, Temitope Balogun (TB) Joshua & Ade Ayeyemi

How Nigeria's top tycoons made their fortunes

Between the politicians and the rich, there is considerable overlap. Running a political campaign is extraordinarily expensive in Nigeria, and many a senator is heard complaining, in private, about how much money is needed to buy a seat.

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.

Novare Matola (Illustration), Maputo, Mozambique

Novare Africa Property Fund II closes with $350 million for investment

Novare Africa Property Fund II, the fund with a mandate to invest in retail and commercial real estate in sub-Saharan Africa outside of South Africa, has announced its final close at the end of June 2016.

Why African Entrepreneurship Is Booming

Why African Entrepreneurship Is Booming: Ndubuisi Ekekwe, Founder, African Institution of Technology

Last month, I visited my village of Ovim in Southeastern Nigeria. I met a painter who also manufactures the paint he uses for his work.

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.

Kunle Afolayan at the Murtala Muhammed International Airport in Lagos for the premiere of his new film, The CEO. Photograph: Stefan Heunis/AFP/Getty Images

Premiere on a plane: How Nollywood is aiming mile-high

The world’s most prolific film industry may be beset by problems, but director Kunle Afolayan is hoping to help it take off.

Nissan Pathfinder: Nissan is one of a handful of vehicle manufacturers now assembling automobiles in Nigeria

Nigeria will be Africa's next automotive hub (Report): PwC

Nigeria has the potential to become the hub of Africa’s automotive industry. Home to an estimated 170 million people, over 40 million of who are in the growing middle class, the continent’s largest economy is increasingly seen as an attractive destination for investors across all sectors.

Runway from a recent Lagos Fashion & Design Week event. Credit: lagosfashionanddesignweek.com

Nigerian Fashion Getting Ready for Growing Demand (Video)

The Nigerian fashion industry has a problem that might not look like one: it is struggling to meet the demand.

AIG is the parent company of Jumia, one of Africa’s leading e-commerce firms.

CDC invests €50M in Africa Internet Group

CDC, the UK’s development finance institution, recently announced a EUR50m equity investment in Africa Internet Group (AIG).

Jason Njoku, Founder & CEO, iROKOtv

Five hardest lessons from a Nigerian startup perspective: Jason Njoku, Founder & CEO, iROKOtv

Below are some musings of an entrepreneur who tends to err on the side of negativity. However, I’m an eternal optimist, really, when it comes to doing business in Nigeria.

A black child and a white woman hold hands in Bamako, Mali

#LintonLies: Louise Linton just wrote the perfect White-Savior-in-Africa story

If there is one media narrative about Africa that refuses to be squashed, it’s the White-Savior-in-Africa bug.

BalogunMarket.ng - The African Future Is Digital

The African Future Is Digital: Victor Asemota

WhatsApp? What is That? A couple of years ago, one of our Managing Consultants was in South Africa. She had decided to buy a local SIM instead to save cost on roaming.