United Arab Emirates (UAE) News

9mobile

Virgin, Vodacom and BUA Group eye former Etisalat Nigeria unit

Virgin Mobile and Vodacom, as well as Bua Group, are among companies interested in acquiring 9mobile, formerly Etisalat Nigeria, according to ThisDay.

Boye Olusanya, CEO, 9mobile. Credit: This Day

Former Etisalat Nigeria, 9mobile, is open to new investors, says CEO Boye Olusanya

Telecoms group 9mobile is open to new investors but will continue to manage the business in the meantime, its chief executive said on Wednesday at an event to officially announce the company’s new name to replace Etisalat Nigeria.

Telecoms regulator approves Etisalat Nigeria name change

Telecoms regulator approves Etisalat Nigeria name change to 9mobile

Nigeria’s telecoms regulator has approved Etisalat Nigeria’s name change after its Middle East parent pulled out following regulatory intervention to save the local company from collapse due to debt.

Etisalat Nigeria's new CEO targets profit after regulator rescue

Etisalat Nigeria's new CEO targets profit after regulator rescue

Etisalat Nigeria is focused on getting the telecoms group back on track to make a profit after it was saved from collapse, while working on the paperwork to eventually raise new capital.

Orange & Vodafone are seeking to purchase 65% of Etisalat Nigeria

Orange, Vodafone are reportedly seeking to purchase 65% of Etisalat Nigeria

Orange Telecom and Vodafone are seeking to purchase 65 percent of Etisalat Nigeria following the departure of the UAE-based Etisalat Group from its Nigerian business, reports Brandish citing unnamed sources.

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.

A visitor takes photographs from the Ou Kaapse Weg as seasonal fog covers the city of Cape Town. Almost 7,000 visas were issued by the South African embassy in the UAE for the first seven months of this year. Credit: thenational.ae/Mike Hutchings/Reuters

Hotel developers will invest billions of dollars in African projects over the next few years

Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.

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.

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.

Fly540

Check out 10 airlines looking to change the face of Africa's skies (Photos & Video)

The future looks bright for air travel across Africa. It’s predicted that by 2034, 190 million more flights segments will be flown across the continent.

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.

Africa’s richest man, Aliko Dangote (Left), has a net worth of about US$18 billion, according to Forbes. Tom Saater/Bloomberg

Ranks of African millionaires swell

The sinking tide of commodity prices has lowered incomes for the rich and poor, but for a growing class of African millionaires, the effect may be less painful than for others.

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.

Shayne Nelson, CEO, Emirates NBD

Dubai banking group Emirates NBD plans more success out of Africa

Emboldened by the bank’s success in Egypt, the chief executive of Emirates NBD is eyeing further expansion into Africa.

Africa's other "Big 6": Ethiopian Airlines, South African Airways, Arik Air, EgyptAir, Kenya Airways and Royal Air Maroc

Africa's other "Big 6": Jude Uzonwanne, Associate Partner, Dalberg Global Development Advisors

Africa’s vast skies are being mastered by the “Big 6”: Ethiopian Airlines, South African Airways, Arik Air, EgyptAir, Kenya Airways and Royal Air Maroc.

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.

Building in Banana Island, Lagos, Nigeria

Nigeria's Lagos among top five best cities to buy property in right now

When considering real estate investment opportunities, people normally think of western cities like London and New York.

Jamie Simmonds (L), CEO, The Access Bank UK, and Essa Kazim, Governor of the DIFC

UK subsidiary of Nigeria's Access Bank opens office in Dubai International Financial Centre (DIFC)

Nigeria’s Access Bank opens representative office in Dubai International Financial Centre (DIFC). This is Access Bank’s first office in the Middle East.

Obinna Ekezie, Founder, Wakanow

Former NBA athlete returned to Nigeria to become successful entrepreneur (Video)

Obinna Ekezie is the Founder of Wakanow.com, one of the fastest growing and largest internet travel sites in 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.

When Netflix launches in South Africa, it’ll already have stiff competition

When Netflix launches in South Africa, it'll already have stiff competition

When it eventually launches in South Africa, the popular video-on-demand service, Netflix, will find a competitor waiting for it.

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.

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.

Ilyas Dawaleh was a businessman before be entered politics and rose to become Djibouti’s Minister of Economy and Finance. Antonie Robertson / The National

Ilyas Dawaleh: The man who wants to make Djibouti the next Dubai

Ilyas Dawaleh has an ambition: he wants to make his country the Dubai of Africa, and he is getting plenty of help from the UAE to help him achieve that.

Kenyan women order at Caramel, a new restaurant and lounge in Nairobi with a humidor, private lounge, and imported waiters. Credit Sven Torfinn for The New York Times

Nairobi's latest novelty: High-End mac and cheese, served by whites

There’s a newcomer on the Nairobi restaurant scene: the White Waiter. The other night, Martin Mileveski, a smiley young man from Macedonia, leaned over a table of three immaculately dressed Kenyan women and delicately poured out the Captain Morgan rum.

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's fashionistas upset by falling oil prices

Nigeria's fashionistas upset by falling oil prices

The drop in world oil prices is hitting the fashion-conscious women of Kano hard.

Solar park

Dubai-based Access Power launches finance vehicle aimed at African energy projects

Dubai-based Access Power MEA and France’s renewable energy developer Eren Developpement launched a new financing vehicle, the first of its kind to be deployed solely focusing on African energy projects.

Mulk Holdings

UAE's Mulk Holdings invests $40M in Nigerian shopping center

UAE-based conglomerate Mulk Holdings announced that it is investing up to $40 million in developing a duty free shopping centre in Lagos, Nigeria.

The Dubai International Financial Centre (DIFC)

For UAE sovereign wealth funds, it's time for Africa

UAE-based sovereign wealth funds (SWFs) are seeing increasing opportunities in African countries and some of the leading emerging markets of the world demonstrating a shift in the focus of their asset allocations.

Arik Air

Nigeria's Arik Air now accepting international mobile payments powered by SlimTrader

Arik Air has activated international payments on its mobile platform. Customers from anywhere in the world can now access Arik Air’s mobile site, search for tickets, select flights, and pay using credit and debit cards from Visa and MasterCard.

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.

Arik Air

Nigeria's Arik Air launches frequent flyer program - Arik Affinity Wings

Arik Air, West and Central Africa’s largest commercial carrier, has launched a frequent flyer program, aligning its offering with the industry’s foremost airlines in the process.

DP World wants to forge ahead with more investments despite a legal battle to keep hold of its concession to run Djibouti’s container terminal, above.

Africa offers UAE investors outsize returns

UAE companies and sovereign wealth funds including DP World and Investment Corporation of Dubai (ICD) are keener than ever to invest in Africa.

Aliko Dangote, Chairman, Dangote Group

Africa's richest man Dangote says further deals with Dubai may run into billions of dollars

Africa’s richest man, Aliko Dangote, said further deals with the Investment Corp. of Dubai may run into billions of dollars after the Emirati holding company invested $300 million in his cement business last month.

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.

Patrick Akinwuntan, Ecobank and Daniel Monehin, MasterCard

MasterCard and Ecobank partner to accelerate electronic payments adoption in 28 Sub-Saharan African countries

Ecobank Transnational Inc. (“Ecobank”) and MasterCard, http://newsroom.mastercard.com/ today announced  a multi-country licensing agreement which will provide access to MasterCard’s electronic payments solutions for Ecobank’s customers in a further 23 African countries.

Ecobank

Qatar National Bank Expands in Africa With $230M Ecobank Deal

Qatar National Bank QSC, the largest Arab bank, acquired a 12.5 percent stake in Lome, Togo-based Ecobank Transnational Inc. (ETI), marking its first acquisition in sub-Saharan Africa.

Trojan General Contracting

Arabian Gulf companies commit $19B to West Africa infrastructure projects

African countries secured commitments from companies in the Persian Gulf totaling $19 billion to invest in roads, railways and airports at the first West Africa Investment Forum held in Dubai on Tuesday.

Aliko Dangote, CEO, Dangote Group

Africa's richest man Aliko Dangote sells $300M minority stake in cement firm to Dubai sovereign wealth fund

Africa’s richest man Aliko Dangote is selling a stake in his cement company to a sovereign wealth fund owned by the government of Dubai, United Arab Emirates.

John Santora, President and CEO, Cushman & Wakefield

Top four emerging & frontier property markets are from Africa - Botswana, South Africa, Zambia & Ghana: Cushman & Wakefield (Report)

Cushman & Wakefield has evaluated the risks of acquiring office space in the most sought after emerging and frontier markets.

Mobile Phone User in Africa

Africa's telecoms frontier (Video)

Sub-Saharan Africa is the fastest growing region in terms of mobile subscriptions.