Saudi Arabia News

Is Nigeria's $300 million diaspora bond a worthwhile investment

Is Nigeria's $300 million diaspora bond a worthwhile investment?

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.

Dangote Industries cement plant in Dakar, Senegal

Gulf investments in Africa beginning to spread far and wide

Traditionally, investments from the Arabian Gulf into Africa have focused on North Africa, owing partly to closer cultural ties and the Gulf’s focus on western markets. This scenario is slowly changing and so too are the pan-African investment strategies of Gulf investors.

South Africa's Blue Label pays $400m for Cell C stake

South Africa's Blue Label pays $400M for Cell C stake

Blue Label Telecoms the largest distributor of prepaid airtime and data in South Africa, will pay 5.5 billion rand ($400 million) for a 45 percent stake in debt-laden mobile firm Cell C Ltd, it said on Wednesday.

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.

Two Rivers, Nairobi, Kenya (Illustration)

Africa: A land of opportunity for property investors

UAE investors have been urged to follow in the footsteps of the Majid Al Futtaim Group and the Landmark Group by pursuing property opportunities in East Africa.

Why WhatsApp is South Africa's favorite app

Why WhatsApp is South Africa's favorite app (Infographic)

As WhatsApp launches its web app for iOS – porting the 900 million-strong messaging service to allow iPhone users to send and receive messages through a browser – the top country it’s used in (South Africa) offers a timely reminder of just how good a messaging service it is.

Eko Atlantic, Lagos, Nigeria

Eko Atlantic: Why Nigeria's plans for a dream Eldorado city in Lagos are not radical enough (Video)

The government of the state of Lagos–Nigeria’s commercial capital–has proudly proclaimed it is building a new city that will become the new financial centre of Nigeria, and perhaps West Africa.

Addis Ababa, Ethiopia

Ethiopia: The Addis millionaire's club

At first glance, Ethiopia would seem like a tough place for business owners to make it big. The strength of the state stands in contrast to the fledgling private sector, where foreign competition is barred in key industries and big sectors are entrusted to state-owned companies.

Nigeria is projected to be the first African country to hit $1 trillion in GDP by 2030

Nigeria is projected to be the first African country to hit $1 trillion in GDP by 2030

Nigeria’s economy will more than double in the next 15 years, according to projections from the United States Department of Agriculture.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Nigeria will be among world's 20 largest economies by 2030 (Infographic)

Take a peek at the new world that awaits us. Get ready for a new economic order. In the world 15 years from now, the U.S. will be far less dominant, several emerging markets will catapult into prominence, and some of the largest European economies will be slipping behind.

Saudi Arabia’s ACWA Power recently won a bid to build a 100MW solar power plant in South Africa

Gulf states investing in series of projects to power Africa growth

Chinese investment into Africa gets much of the press, but the Arabian Gulf states are quietly making inroads in strategic sectors.

Kenyan Muslim women and men applaud as a women's representative denounces the latest attack by al-Shabab gunmen, at a public meeting in Garissa, Kenya, on Apr. 3, 2015. Ben Curtis—AP

Look beyond Garissa attack to see progress in Kenya: former US Ambassador to Kenya, Major General Scott Gration, Ret.

If the media coverage on Kenya is all about terrorism, the terrorists win.

Muhammadu Buhari, Presidential Candidate of Nigeria’s All Progressives Congress (APC)

How Nigeria presidential challenger Muhammadu Buhari went from 'ruthless ex-dictator' to 'weak leader'

General Muhammadu Buhari, the former military head of state and presidential candidate of the opposition APC party has a reputation in Nigeria as a no-nonsense hard man earned during his hardline 20-month military government rule from 1984 to 1985.

The main offices of EFG Hermes in Cairo. Credit: Dana Smillie for The National

Egypt's EFG Hermes looks to tap into fast-growing Sub-Saharan Africa

EFG Hermes, Egypt’s biggest listed investment bank, is considering an entry into Sub-Saharan Africa to tap demand for private equity and corporate advisory services, the chief executive said.

Nigeria Strategy - H1 2015 - ARM (Report)

Nigeria Strategy - H1 2015: ARM (Report)

Global growth softened over H2 2014 as a tepid economic macro-picture across Europe and Japan combined with EM deceleration to offset robust growth in the US. Reflecting the uneven economic pattern across countries, IMF thrice downgraded global growth forecasts over H2 14.

Vans at Idumota Market in Lagos Island, Nigeria

Fact of the Day: Nigeria is the world's most-watched frontier market

Nigeria has consolidated its position as the most-watched frontier market in the latest WSJ Frontiers/FSG Frontier Market Sentiment Index as an increasing proportion of multinationals put the country on their watch list for potential future investment.

UAE Exchange

UAE Exchange looks to enter new African markets: Sudhir Kumar Shetty, Global COO, UAE Exchange

UAE Exchange, a global money transfer and foreign exchange brand, is looking to enter new markets such as South Africa, Nigeria, and Ghana, according to Sudhir Kumar Shetty, chief operations officer of global operations.

Alex Kyriakidis, President, Middle East and Africa, Marriott International

Marriott Sees 'Super Growth' in Africa's Three Biggest Economies: Alex Kyriakidis, President, Middle East and Africa, Marriott International

Marriott International Inc. (MAR) may build 40 to 50 hotels in Nigeria, South Africa and Egypt each by 2020 to benefit from a surge of travelers, said Alex Kyriakidis, the chain’s president for the Middle East and Africa.

Nigerian Naira

Nigerian economy leads frontier market opportunities

Companies such as Guaranty Trust Bank, Zenith Bank, and Nigerian Breweries have put Nigeria at the forefront of frontier market opportunities, according to Baring Asset Management.

Nigerian Naira (1000 Naira)

Nigeria, Argentina, and Vietnam Prove Top Picks for Multinationals - Frontier Strategy Group

Fresh from its coronation as the biggest economy in Africa, Nigeria has scored another first.

Diezani Alison-Madueke, Minister of Petroleum Resources, Nigeria

Nigeria Proposes Oil Minister as OPEC Head

Nigeria has put forward its oil minister, Diezani Alison-Madueke, as a contender for OPEC’s top job, people familiar with the matter said Tuesday

Nigeria has attracted much attention from American and European multinationals, according to a new survey. Here is the Victoria Island waterfront in Lagos from June 3, 2014. Joe Penney, Reuters

Sub-Saharan Africa Is the New Investment Frontier

Nigeria leads frontier markets in attracting attention from American and European companies, according to the latest Frontier Markets Sentiment Index.