Nigeria: Latest News
The Conversation, 9:16 am
Disruptive competition through technology can benefit consumers, but it also raises socioeconomic issues. Africa is no exception. There are concerns that Uber, with its first-mover advantage in the ride-sharing market, is growing into a monopoly despite the benefits to consumers. Traditional metered taxis are seeing red. In South Africa, new entrants into the ride-sharing app market have made little progress. The picture is very different in Kenya. Safaricom appears to have overcome the seemingly insurmountable first-mover position enjoyed by Uber.
Dana Sanchez, 7:17 pm AFKI Original
500 Startups invests 70% in the U.S. The rest of its deals are in 60 other countries and the VC fund has its eyes on Africa. “We continue to look for and source deals from traditionally underrepresented ecosystems,” said 500 Startups founding partner Dave McClure. Geeks on a Plane has done 17 tours. This will be its first in Africa. “We are looking to build stronger relationships with investors on the ground, maybe even find a few startups to invest in.” 500 Startups has invested in 1,700-plus companies. The tour is a way for startups, investors, and executives to learn about high-growth tech markets.
Peter Pedroncelli, 12:02 pm
Nigerian international midfielder Oghenekaro Etebo is a player of great interest for English Premier League club Leicester City and Turkish giants Fenerbahce. The current English champions and the dominant Turkish outfit are monitoring the CD Feirense player, who is doing well at the Portuguese club. According to numerous reports within Turkey, the 21-year-old is a potential target for the Turks ahead of the end of season transfer market window, in which clubs attempt to strengthen their squads for the new campaign.
Peter Pedroncelli, 2:28 am AFKI Original
The Chinese Super League has become an attractive top-flight competition for players from around the world thanks to the lucrative contracts being offered to those willing to call China their new home. The recent list of world class players dedicating their immediate futures to a new soccer adventure in China has boosted the league, with numerous African players making the decision to join clubs in the country. We take a look at 12 African soccer professionals who are now playing in the lucrative Chinese Super League.
Peter Pedroncelli, 2:22 am AFKI Original
Africans who tweet don’t like to talk about brands nearly as much as their American counterparts. Instead, Africans are increasingly talking politics as Twitter comes of age in Africa, according to a London-based communications firm. Previous research showed that Twitter in Africa was more of a space for social interaction. Now serious debate about politics and government prevails. Twitter continues to be one of the most popular social networks available in Africa, enabled through a heavy mobile usage and apps that cater to smartphone users.
Dana Sanchez, 11:52 am AFKI Original
Africa has been reluctant to adopt GM food technology for crop production, but that’s changing. Many African countries are willing to overcome domestic and international opposition to GM technology to boost their agriculture sector. Just four African countries allow GMO crops for cotton. In Africa, only South Africa grows GM food. Opponents urge African countries not to commercialize GM crops, saying it will put their agricultural sector in the hands of large multinational agri-businesses and hurt biodiversity. Proponents say GM crops are as safe.
Dana Sanchez, 8:04 am
MTN’s shares are down 35 percent since October 2015, when Africa’s largest mobile service provider reported a $5.2B fine by Nigerian regulators over unregistered sim cards. That could make MTN cheap enough to be considered for a takeover, Times Live reports. MTN had other problems in the last two years including foreign exchange losses and bad investments. Investing heavily in South Africa, MTN grew revenue and subscribers, but it would be difficult for an international operator to convince its shareholders to back a bid, given the challenges MTN faces, an analyst said.
Peter Pedroncelli, 4:26 am AFKI Original
New Leicester City signing Wilfried Ndidi of Nigeria was presented this week with the Belgian Goal of the Year award for a stunning strike that he scored last year while representing his former club Genk. The midfielder scored the long-range effort in a Belgian top-flight match against rivals Club Brugge while playing for Genk in the 2015-16 season, before he left the club for the English Premier League in January this year.
Dana Sanchez, 4:02 pm
Africa has potential to boast more billion-dollar startups than anywhere else on Earth, says an Africa-focused investment manager. More than 200 African private equity deals were reported in 2016. Almost a third were in South Africa, but the potential in Nigeria is mind boggling. Internet spending in Nigeria was nearly $2B last year, with only 3% of Nigerians having fixed broadband access. Multiple billions in spending is driven by mobile internet users. Digital content and the subsequent advertising and brand exposure are, for the first time, accessible by the majority of Nigerians on their mobile devices.
Peter Pedroncelli, 3:29 pm
Nigerian winger Victor Moses has extended his contract with English Premier League club Chelsea until 2021. The talented Super Eagles player has been an important part of coach Antonio Conte’s impressive team this season, with the Blues leading the EPL standings at the moment on 63 points, 10 points ahead of Tottenham Hotspur in second.
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