Switzerland News

Aliko Dangote, CEO, Dangote Group

Africa's Richest Man Invests $4.6 Billion in Nigeria Farming

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 woman waved a portrait of Tedros Adhanom Ghebreyesus, the newly elected director general of the World Health Organization, in Geneva on Tuesday. Credit: Valentin Flauraud/European Pressphoto Agency

W.H.O. Elects Ethiopia's Tedros as First Director General From Africa

Tedros Adhanom Ghebreyesus of Ethiopia was voted director general of the World Health Organization on Tuesday, the first African ever to head the agency.

Waitresses place a series of orders at the Orbit Place Java House, a chain of Kenyan cafes

East African assets attract private equity interest

Family businesses seek sales amid growth in buyout groups in the region

Aliko Dangote, President, Dangote Group. Credit: CNBC Africa

I will build Dangote Group into a $100B business, I still have plans to buy Arsenal, says Africa's richest man Aliko Dangote (Video)

“If you are in Africa or in Nigeria for the short-term, then you shouldn’t be there,” says Aliko Dangote, the President of Dangote Group.

David White, Chairman, Emerging Africa Infrastructure Fund (EAIF)

Emerging Africa Infrastructure Fund appoints Investec Asset Management to manage $670M fund

Following a competitive tender process that brought interest from over 30 companies, from across Europe, Africa and North America, the Emerging Africa Infrastructure Fund Limited (EAIF or the Fund) has appointed Investec Asset Management (IAM) as its fund manager.

Jose Filomeno de Sousa dos Santos, Chairman of FSDEA

Angola sovereign wealth fund FSDEA says half of investments in private equity

Angola’s sovereign wealth fund said it put more than half of its investments in private equity funds focused in the country and across sub-Saharan Africa last year, describing its performance as “solid,” particularly in light of the global economic turbulence.

Justin Clarke, CEO, One Africa Media & Acting CEO, Ringier One Africa Media

Ringier Africa and One Africa Media form joint venture

Ringier Africa and One Africa Media (OAM) have agreed to merge their pan-African Classifieds assets to create and grow Africa’s largest classifieds group.

Olatorera Oniru, CEO, Dress Me Outlet

Meet the Nigerian woman who is building the fashion Amazon of Africa

Olatorera Oniru is one of Nigeria’s most assiduous and ambitious young entrepreneurs. The 29 year-old lady is the founder of Dressmeoutlet.com, a Lagos-based e-commerce startup that retails fashion products sourced from across the globe.

Nigerian e-commerce site DealDey gets acquired by Swiss media group Ringier (Infographic)

Nigerian e-commerce site DealDey gets acquired by Swiss media group Ringier (Infographic)

The African subsidiary of Swiss media and e-commerce company Ringier has acquired Nigerian online shopping startup DealDey for an undisclosed amount.

Danie Meintjes, CEO, Mediclinic

South Africa's Mediclinic to buy UAE's Al Noor Hospitals for $2.2B

South Africa’s Mediclinic Intl has agreed to buy United Arab Emirates’ Al Noor Hospitals Group for around 1.4 billion pounds ($2.2 billion), gaining the upper hand on rival NMC Health in a tussle for expansion in the fast growing Gulf region.

Alassane Ouattara, President of Ivory Coast

President Alassane Ouattara sees transformative potential in Ivory Coast's economic comeback

President Alassane Ouattara sees transformative potential in Ivory Coast’s economic comeback — not just for his country, but also for the largely untapped and underserved west African market of more than 300m.

Billionaire Aliko Dangote at Dangote Cement Plc's new plant in Ndola, Zambia. Photographer: Liezel Hill/Bloomberg

Cement is the new oil as Africa's richest man takes on Lafarge

Africa’s richest man is pushing to dominate its market for cement, the material at the heart of the continent’s infrastructure boom.

Lagos Startup Week 2015

Seedstars World announces partnership with Lagos Startup Week and Uber to showcase the best Nigerian entrepreneurs

On July 31st, the Nigerian leg of Seedstars World will take place at the final event of Lagos Startup Week. This will showcase the best entrepreneurs from around Nigeria, elevate them to an international stage, and offer them the opportunity to receive investment of up to $1.5 million.

Luanda, Angola’s capital city. Angola is rich in national resources, particularly oil and gas.

Angola's capital Luanda remains 'most expensive city' for expats in Mercer's 2015 Cost of Living ranking

The Angolan capital, Luanda, remains the world’s most expensive city for expatriates, according to an annual survey by consultancy Mercer.

Nigerian billionaire Aliko Dangote, Africa's richest man

Fast-growing ranks of African billionaires need bankers, says UBS' Head of Africa Wealth Management Martin Emodi

UBS Group AG, the Swiss company that says it banks more billionaires than any other, said wealthy Africans are rapidly adding to the ranks of the rich on the continent needing specialised financial services.

UBS hires former JPMorgan Africa Head Brian Smith to lead South African unit

UBS hires former JPMorgan Africa Head Brian Smith to lead South African unit

Swiss bank UBS AG appointed Brian Smith, former co-head of JPMorgan Chase & Co’s African arm, as the country head of South Africa and head of investment banking for Sub-Saharan Africa, according to an internal memo.

Elsie Kanza, Senior Director & Head of Africa, World Economic Forum

Looking back to move forward: Elsie Kanza, Senior Director & Head of Africa, World Economic Forum

In 1992, one year after the end of the apartheid era in South Africa, the two leaders that would broker the country’s future trajectory appeared together at a forum in Switzerland.

Durban, South Africa: Durban has seen fastest growth of millionaires in South Africa since 2000.

What are South Africa's fastest growing cities for millionaires?

The city of Durban has seen the fastest growth of millionaires – high net worth individuals (HNWIs) with assets of US$1m or more – in South Africa, according to New World Wealth’s latest report.

Lawrence Nazare, Executive Director, Continental Re

Pan-African Continental Re sees huge growth as Africa's construction booms

Africa’s Continental Re plans to double premium income from its property and engineering business to $80 million over the next five years, as it bets on the continent’s infrastructure boom, its executive director said.

Born in Ivory Coast, raised in Morocco and educated in France, at the elite Ecole Polytechnique, francophone Tidjane Thiam has spent a lifetime defying the odds. Photographer: Simon Dawson/Bloomberg

Tidjane Thiam, Credit Suisse's next CEO: The gnomes of Zurich bet on the man from the Pru

To his family in Africa, he was “l’ultime espoir” — the last hope. Tidjane Thiam, it’s safe to say, didn’t disappoint. Over the past 30 years, Thiam has traced the arc of ambition from his native Ivory Coast to the top of a venerable British insurer, Prudential Plc, sweeping aside the last racial barrier in U.K. boardrooms.

Ivorian Tidjane Thiam lined up to become Credit Suisse's next CEO, in graceful exit from the helm of Prudential

Ivorian Tidjane Thiam lined up to become Credit Suisse's next CEO, becoming 2nd black CEO to lead global bank

Tidjane Thiam, the current chief executive of Britain’s Prudential insurance group, has been lined up to replace Brady Dougan at the helm of Credit Suisse, according to people briefed on the plan.

Jose Filomeno de Sousa dos Santos, Chairman of Fundo Soberano de Angola, Angola's sovereign wealth fund

Angola's $55B sovereign wealth fund seeks mine, timber, health & agriculture investments: Jose Filomeno de Sousa dos Santos, Chairman of Fundo Soberano de Angola

Angola’s $5 billion sovereign wealth fund is seeking investments in mining, timber, health and agriculture in order to diversify its asset base and increase returns.

Kingsley Chiedu Moghalu, Founder and Chief Executive Officer of Sogato Strategies LLC and former Deputy Governor of the Central Bank of Nigeria

Kingsley Chiedu Moghalu, former Deputy Governor of the Central Bank of Nigeria and Sogato CEO, appointed Professor at Tufts University's Fletcher School

Dr. Kingsley Moghalu has been appointed as a Professor of Practice in International Business and Public Policy at Tufts University’s Fletcher School effective July 1, 2015.

Stéphane Richard, Chairman & CEO, Orange

Orange said to explore purchase of some Bharti Africa assets to tap explosive growth in sub-Saharan Africa

Orange SA has explored various acquisitions in Africa including assets owned by Bharti Airtel Ltd., as the French company seeks to bolster its business in the region, according to people familiar with the matter.

Seedstars World (SSW)

Meet the 8 African startups to compete at the Seedstars World (SSW) final competition

On February 4 2015, 36 startups from emerging markets around the world will converge at the Grand Final of Seedstars World to be held in Geneva, Switzerland, a global startup competition that showcases new opportunities beyond Silicon Valley.

Bob Diamond, former CEO of Barclays and current CEO of Atlas Merchant Capital

Why Barclays former CEO Bob Diamond is doubling down on Africa with his new investment outfit Atlas Merchant Capital

Standing outside the Belvedere Hotel, one of the busiest meeting places here in Davos on a bitter cold Swiss morning, are dozens of the most powerful business leaders waiting to get through security to attend a breakfast event at the 45th annual World Economic Forum.

Nigerian startup Green Energy is heading to Switzerland to win $500,000 at the Seedstars World (SSW) final competition

Nigerian startup Green Energy is heading to Switzerland to win $500,000 at the Seedstars World (SSW) final competition

Green Energy is representing Nigeria at the Seedstars World (SSW) Grand Final in Geneva and will be competing against 35 startups from other emerging markets.

iKubu's Backtracker: A low-energy bike radar device

GPS company Garmin acquires assets of South Africa's iKubu, developer of bike radar device

Garmin Ltd. (NASDAQ: GRMN) today announced that it has acquired the assets of iKubu (Pty) Ltd., a privately-held designer of computer vision and radar systems for the cycling market.

National Bank of Angola (Banco Nacional de Angola)

Africa Comes Into View

China’s growth story has been remarkable. The country’s economy grew at a staggering 10% annualized pace for 20 years as its government conducted a massive infrastructure building campaign.

Old Mutual Offices in Sandton, Johannesburg, South Africa

2014 has witnessed a spate of major insurance deals in sub-Saharan Africa

Following are some purchases or expansion plans by South African and European insurers in sub-Saharan Africa announced in the past three months.

Twins Kessie and Eku Edewor

The Nigerians have arrived ... and London is paying attention

Richard Vedelago is 29 years old and worth more millions than he’s prepared to tell. ‘Money talks, but wealth whispers,’ he says with a smile, sitting back in the bar at Claridge’s – his idea – and lazily sipping an elderflower juice.

Folorunsho Alakija of Nigeria is the richest black woman in the world, ahead of Oprah Winfrey, with a personal fortune of $7.3bn from oil and gas. Photograph: Bennett Raglin/Getty Images

Nigerian billionaires dominate African rich list with £49B ($78B) between them

Nigeria has more billionaires than any other country in Africa, including the continent’s wealthiest man and the world’s richest black woman, according to a ranking published this week.

The Victoria & Alfred (V&A) Waterfront in Cape Town, South Africa

Cape Town, South Africa ranked #1 for best hotels globally

As the new year approaches, many travelers are looking for inspiration on where to head in 2015. This list might help.

Kingsley Moghalu, Former Deputy Governor of the Central Bank of Nigeria (CBN)

Deputy Governor of Nigeria's Central Bank Kingsley Moghalu announces resignation

Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Chiedu Moghalu, has announced that he is leaving the bank after his completion of a five-year term.

Sizwe Nxasana, CEO, FirstRand

African Bank not a proxy for South Africa's banking industry: Sizwe Nxasana, CEO, FirstRand

FirstRand Ltd. (FSR), Africa’s biggest bank by market value, said unsecured lending was the least of its issues and criticized ratings companies for seeing failed African Bank Investment Ltd. as a proxy for the industry.

Swiss Re's London Headquarters

Swiss Re buys stake in Kenya-based insurance group Apollo Investments

Switzerland’s Swiss Re expanded its pool of investments in Africa with a minority stake in Kenya-based insurance group Apollo Investments Limited, a spokeswoman for the reinsurer said on Wednesday.

Raphael Afaedor and Gbolahon Fagbure, Co-Founders and Co-CEOs of Supermart.ng

Since 2011, we have seen annual e-commerce growth of 35% on average in Nigeria: Raphael Afaedor and Gbolahon Fagbure, Co-Founders and Co-CEOs of Supermart.NG (Video)

Supermart.NG is a grocery e-commerce platform that delivers over 50,000 items to customers across Lagos, Nigeria, in as little as 3 hours, 7 days a week.

Kunmi Otitoju, Founder, Minku

Meet The Nigerian Fashion Designer Building Africa's Hermès: Kunmi Otitoju, Founder, Minku

Kunmi Otitoju, a 30-year-old Nigerian fashion designer and entrepreneur, holds two Computer Science degrees – a Bachelor of Science degree with first-class honors from Howard University and a Master of Science degree from Virginia Tech.

Lafarge

Lafarge to Merge Nigerian and South African Units in $1.35B Deal to Rival Dangote Cement

Lafarge SA, the French cement maker, will combine Nigerian and South African assets to form a new company, Lafarge Africa, to compete with Africa market leader Dangote Cement Plc.