South Korea News

Kenya's mobile internet beats the United States for speed

Fact of the Day: Kenya has faster mobile internet speed than the United States

Kenya has the world’s 14th-fastest mobile internet speed, according to a report from the content delivery network Akamai.

Kenya Plans First Nuclear Power Plant at $5 Billion Cost

Kenya Plans First Nuclear Power Plant at $5 Billion Cost

Kenya plans to begin constructing its first nuclear power plant at a cost of $5 billion by 2021 as the country seeks to bring down the cost of electricity.

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.

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.

Aliko Dangote, President and Chief Executive Officer of Dangote Group and Co-Chair of the World Economic Forum (WEF) Annual Meeting 2014, speaks during a session at the WEF in Davos January 22, 2014.

Africa's richest man Dangote makes bid to acquire controlling stake of Peugeot Nigeria

Aliko Dangote, Africa’s richest man, has teamed up with two Nigerian states to bid for a majority stake in Peugeot Automobile Nigeria (PAN) Limited, a local joint venture with the French automaker, the governor of Kaduna State said on Thursday.

Nissan Pathfinder: Nissan is one of the car makers that recently started building cars in Nigeria.

Nigeria Targets 80% Local Manufacturing in Auto Industry

Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as Africa’s most populous country seeks to cut imports and diversify the economy away from oil, the industry regulator said.

Koeberg Nuclear Power Station in South Africa is the only nuclear power plant on the African continent.

Nuclear and renewables: South Africa's ambitious new energy mix (Video)

Heavily reliant on coal-fired electricity, South Africa is launching ambitious new projects aimed at diversifying its energy sources and avoiding power cuts.

Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Running a free zone in Nigeria: Amy Jadesimi, LADOL's Managing Director

The Lagos Deep Offshore Logistics Base (LADOL) is a 100-hectare free zone and logistics hub for multinational industrial and offshore enterprises.

Kenya signs China nuclear power deal

Kenya signs nuclear power deal with China

Kenya has signed a deal with China as part of the east African nation’s plans to have a nuclear power station by 2025, the Kenya Nuclear Electricity Board (KNEB) said Thursday.

Kenya’s David Rudisha is the current Olympic champion and world record holder in the 800 meters race. Credit: qz.com

Here's why Kenya keeps dominating the world of athletics

Kenya is on top of the world. As the world athletics championships wrapped up in Beijing on Sunday (August 30th), Kenyan athletes managed to top the overall winners table.

Ford Ranger

Ford to start assembly in Nigeria

Ford Motor Company (F.N) will start assembling its best-selling Ford Ranger pickup truck in Nigeria by the fourth quarter, as it expands in Africa and the Middle East, the U.S. automaker said on Tuesday.

Walmart: From Arkansas to Lagos (AP Photo/Danny Johnston)

Walmart is planning to open retail outlets in Nigeria

Walmart, the world’s largest retailer by revenue, is in advanced talks to open big box stores in Lagos, Nigeria’s economic hub.

Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Nigeria's New Direction: Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Muhammadu Buhari’s inauguration on May 29, 2015 has taken Nigeria in a new direction, one that is so far characterized by national pride and international confidence.

FIFA Chief Sepp Blatter and South Africa’s President Jacob Zuma at the 2010 FIFA World Cup (Reuters/David Gray)

Dear Europe: No, you can't have 'your' football back, signed Africa

Like most right-thinking people, I don’t condone corruption and abhor anyone responsible for ruining the integrity of the game that we love. But a troubling narrative has emerged out of the FIFA corruption scandal.

A construction worker walks on a scaffolding on a tunnel along the Nairobi-Thika highway project, under construction near Kenya’s capital Nairobi, September 23, 2011. REUTERS/Thomas Mukoya

Time to rethink our view of Africa's economy: Steven Schultz, Head of International Fund Solutions, MMI

Seven years have passed since the implosion of the global financial system and the largest bankruptcy filing in history – Lehman Brothers.

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.

Victoria Island, Lagos, Nigeria

Develop a strategy for Africa now before it's too late, say Africa investment specialists Melissa Cook, CFA & Walé Adeosun, CFA

An advisory council appointed by US Secretary of Commerce Penny Pritzker to expand business opportunities in Africa is now in full swing.

Solar power plant

Three exciting developments in the solar power space in Africa

The new year may only be a few months old, but 2015 has already ushered in a number of exciting developments in the solar power space in Sub-Saharan Africa.

Employees stand inside a mobile phone store specializing in the sale of Samsung Electronics Co. handsets in Nairobi, Kenya, on April 17, 2013. Photographer: Trevor Snapp/Bloomberg

Europeans Selling Mobile Payments Should Ask Africa for Help

As telecommunications carriers in Europe seek a share of the billions of dollars likely to flow to companies that build mobile-payment systems, Claudio Chiche has a few words of advice: Ask Africa for help.

Kigali, Rwanda

Kigali, Rwanda: 2014 was year of growth, says mayor Fidele Ndayisaba

The Mayor of City of Kigali, Rwanda, Fidele Ndayisaba, last week talked to The New Times Kenneth Agutamba on a wide range of issues during an exclusive interview at his office, last week.

Nagode Group

Surviving bankruptcy - An entrepreneur's tips for dealing with business failure: Maneesh Garg, CEO, Nagode Group

“You cannot be an entrepreneur for 25 years without having failures, and some of you might not realise that some of my failures were really bad. And when I mean bad, I mean I have been bankrupt more than two times.”

Lagos, Nigeria (Photo credit: kelechiamadiobi.com)

Opportunity rings in frontier markets like Nigeria

With all the turbulence in the global markets these days, it appears that many U.S. investors are choosing to turn down the volume over the holidays, perhaps saving their song for when volatility improves.

Vladimir Putin (Left) and Jacob Zuma, presidents of Russia and South Africa, respectively

Geopolitics Key to South Africa's $100 Billion Nuclear Plan

Politics may tip the balance as Russia’s Rosatom Corp. and France’s Areva SA (AREVA) prepare to battle it out for South Africa’s planned nuclear-energy project that could cost $100 billion.

Doug Smart, General Manager, KFC Africa

How to succeed in selling to consumers in South Africa

Doug Smart, KFC’s general manager in Africa, is mulling the challenges his company faces in appealing to a cross-section of South Africans one morning at a restaurant in Johannesburg.

Oscar Onyema, CEO, Nigerian Stock Exchange (NSE)

Nigerian Stock Exchange joins the World Federation of Exchanges

The Nigerian Stock Exchange became a full member of the World Federation of Exchanges on Tuesday, just as it prepares to woo Asian fund managers.

Shoe manufacturing in Ethiopia

Made in Africa: Ethiopia positions itself as manufacturing alternative to China

Ethiopia is bidding to become Africa’s lead manufacturing hub, repositioning itself as an outsourcing alternative to countries such as China, where rising labour costs are driving margin conscious multinationals to look elsewhere.

Charles Ifedi, CEO, Verve International

Q&A with Charles Ifedi, CEO, Verve International

Verve is currently the most widely used payment card in Nigeria, with 18 million of the country’s 25 million payment cards Verve branded; while 19 out of the 21 Nigerian banks issue Verve cards, in addition to microfinance banks (MFBs) and mobile money operators.

Hyundai Truck

Hyundai opens first car assembly plant in South Africa

South Korean car manufacturer Hyundai Motor Co. has started production at its first assembly plant in South Africa, initially building medium-sized commercial trucks, a company spokesman said on Tuesday.

Uber

Uber launches in Lagos as it expands further into Africa

The popular San Francisco- based car ordering service Uber has just launched in Lagos, Nigeria.

Samsung Africa

Samsung to invest in South African plant to capitalize on Africa, the world's fastest-growing mobile phone market

Samsung Electronics Co. (005930), the world’s largest smartphone maker, will open a plant in South Africa, a Trade and Industry Department official said.

Nigeria Sovereign Investment Authority (NSIA)

The Nigeria Sovereign Investment Authority (NSIA), the country's $1B sovereign wealth fund, rated 9 out of 10 for transparency: Sovereign Wealth Fund Institute (SWFI)

Sovereign wealth fund tracking firm, the Sovereign Wealth Fund Institute (SWFI), has upgraded Nigeria‘s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), to 9 points on the SWFI’s 10-point Linaburg-Maduell Transparency Index.