Turkey News

Sim Tshabalala, CEO, Standard Bank Group

Africa's Biggest Bank Names Tshabalala as First Sole Black CEO

Standard Bank is now only South African lender with black CEO. Kruger will remain an executive director of the bank.

Carole Wamuyu Wainaina, incoming COO, Africa50 Infrastructure Fund

Carole Wamuyu Wainaina is Named Chief Operating Officer for Africa50

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 23 African countries, and two African Central Banks, has appointed Carole Wamuyu Wainaina as Chief Operating Officer.

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.

Tamassa Resort in Mauritius

Property fund Mara Delta agrees to buy Tamassa Resort in Mauritius

LUX* Resorts and Hotels sells Tamassa Resort for US$40 million in sale-and-leaseback deal.

Jacob Zuma, President of South Africa

South Africa joins emerging markets wave of sovereign bond sales

South Africa is preparing its first sale of debt this year as global investors including BlackRock and Pimco declare that emerging markets represent a buying opportunity after three years of underperformance.

South Africa's Travelstart raises $40M to extend reach in Africa's fast-growing multibillion dollar online travel market

South Africa's Travelstart raises $40M to extend reach in Africa's fast-growing multibillion dollar online travel market

Travelstart, the South African-based Online Travel Agency (OTA) with offices throughout Africa and subsidiaries in the Middle East and Turkey, on Wednesday announced a capital raise of $40 million from Amadeus Capital Partners, the global technology investor.

During the past 10 years, the GDP of the 11 largest sub-Saharan Africa countries increased 51%, more than twice the world's 23%. Credit: bloombergview.com

Where's the Growth? Africa

Here’s a nice way to stump your companions: Ask them what part of the world has had the fastest economic growth over the last 10 years.

Do you speak African - Well, neither do Africa's 1.1 billion people

Do you speak African? (Video)

Do you speak African? Well, neither do the 1 billion people on the continent. Africa is not a country. This might come as a surprise to some.

Founder of InaTidé and Head of Energy and Natural Resources at FBN Capital. Credit: rolake.iprofile360.com

Nigerian entrepreneur aims to plug energy project funding gaps with new startup

One characteristic the Mint economies share is that they have younger populations than their more economically developed counterparts around the world.

South Africa's Naspers returns to bond market to fund emerging markets internet acquisitions

South Africa's Naspers returns to bond market to fund emerging markets internet acquisitions

Naspers Ltd. sold bonds for the first time in almost two years to fund emerging-market Internet acquisitions, a strategy that’s transformed the media group into Africa’s biggest publicly traded company by market value.

Mustafa Abdel-Wadood, a Partner at Abraaj, continues to see investment potential in Africa’s largest economy Nigeria. Christopher Pike/The National

Private equity house Abraaj buys majority stake in Nigerian mattress manufacturer Mouka

The Abraaj Group has acquired a majority stake in Mouka, a mattress manufacturer in Nigeria, as part of its plans to expand in Africa.

South Africa's Naspers betting on e-commerce growth in emerging & frontier markets

South Africa's Naspers betting on e-commerce growth in emerging & frontier markets

South Africa’s biggest company by value, media giant Naspers, said on Tuesday it still sees room for expansion in its e-commerce business even after strong growth last year.

Naspers’ global footprint

Africa's largest company Naspers adds Nigeria to 'BRIC'

Naspers Ltd. is rewriting the ‘BRIC’ acronym to include Nigeria and Turkey among the world’s best emerging markets as China and Russia lose some luster with Africa’s most valuable company.

Addis Ababa, Ethiopia

Ethiopia predicts record $1.5B foreign direct investment in 2015

Foreign direct investment into Ethiopia will reach a record $1.5bn this year, on the back of successful efforts by the fast-growing and populous African country to attract overseas manufacturing companies.

The “next” BRICs: The MINTs (Mexico, Indonesia, Nigeria, and Turkey) and the PINEs (the Philippines, Indonesia, Nigeria, and Ethiopia)

Why are businesses shifting focus to emerging markets like the MINTs (Mexico, Indonesia, Nigeria, and Turkey) and PINEs (the Philippines, Indonesia, Nigeria, and Ethiopia)?

In 2013, McKinsey & Company predicted that by 2025 almost 230 Fortune Global 500 companies would be based in cities in the emerging markets.

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.

Number of ultra-high-net-worth individuals in Africa to surge

Number of ultra-high-net-worth individuals in Africa to increase

The number of ultra-high net worth individuals – those with at least $30m in assets – in Africa will increase by a staggering 59% over the next 10 years, stronger than the 34% projected global growth.

The Abraaj Group

Private equity firm Abraaj raises $1.3B for Africa investment

Emerging markets private equity group Abraaj has raised more than $1.3bn for two funds investing in Africa, the largest amount amassed for direct deals across the continent, people aware of the matter say.

Mansion in Cape Town, South Africa

High-net-worth individuals (HNWIs) from Africa set to double by 2025: Knight Frank's 2015 Wealth Report

African individuals with 30 million US dollars in assets is set to more than double over the next decade, this is according to The Wealth Report 2015.

Alcatel-Lucent appoints Richard Edet as Nigeria Managing Director

Alcatel-Lucent appoints Richard Edet as Nigeria Managing Director

Alcatel-Lucent has appointed Richard Edet as Country Senior Officer and Managing Director for Nigeria, effective immediately.

Reni Folawiyo, Founder & CEO of Alara. Credit: style.com

Lagos Rising: Alara Founder and CEO Reni Folawiyo talks to Style.com about her ambitious new store

Nigeria is the largest economy in Africa, and growing richer by the day, and bustling Lagos is a city full of moneyed, cosmopolitan fashion consumers. Habit among them has been to travel abroad to do their shopping—London, Paris, and Dubai are regular haunts.

Jim O'Neill, former Chairman of Goldman Sachs Asset Management

MINT country Nigeria has a lot of exciting investment opportunities: Jim O'Neill, former Chairman of Goldman Sachs Asset Management

In spite of seeming tensions in Nigeria, as its general election looms, renowned global investor and former Chairman of Goldman Sachs Asset Management, Dr. Jim O’Neill, has advised investors not to be distracted, insisting that Nigeria has a lot of exciting investment opportunities.

River Dam

Ethiopia's $1.8B Gilgel Gibe III dam project could start power generation by June

A much-delayed $1.8 billion dam project under construction along Ethiopia’s Omo river could begin generating power by June and be fully operational by early 2016, an official said on Thursday.

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.

Andrew Stewart (Left), American Express Vice President and General Manager for Turkey, Middle East, and Africa and James Mwangi (Right), Equity Bank CEO during the launch of American Express cards in Nairobi Oct 15, 2014.

Equity Bank and American Express launch American Express cards in Kenya

Equity Bank and American Express have launched the first American Express Cards in Kenya, offering Kenyan consumers the Equity Bank American Express® Green Card and the Equity Bank American Express® Gold – both of which carry rich rewards and benefits.

Johnnie Walker Whiskey

Diageo Targets Africa Growth With Spirits Ahead of Beer

Diageo Plc (DGE), the world’s largest distiller, is relying on spirits such as Johnnie Walker whisky and Smirnoff vodka to drive expansion in Africa as economic growth boosts incomes and demand climbs for premium drinks.

Jeff Immelt, Chairman & CEO, General Electric

General Electric to invest $2B in Africa

Africa is expected to receive $2 billion worth of investments from multinational conglomerate GE (General Electric).

Brazilian President Dilma Rousseff welcomes Indian Prime Minister, Narendra Modi

The BRICS alliance makes no sense at all. So what?

The leaders of the BRICS countries—Brazil, Russia, India, China, and South Africa—are meeting for their sixth annual summit in Fortaleza, Brazil (in case you were wondering what Vladimir Putin was doing at the World Cup final).