Nigeria: Latest News

  • 6 Women Tech Entrepreneurs Featuring At The World Economic Forum On Africa

    Six Women Tech Entrepreneurs Featuring At The World Economic Forum On Africa By Peter Pedroncelli, 3:49 am

    The annual World Economic Forum on Africa will see a selection of impressive women tech entrepreneurs taking center stage in Durban, South Africa, with the aim of showcasing the wealth of entrepreneurial talent available on the continent. The 2017 meeting runs from Wednesday, May 3 to Friday, May 5, and will be conducted with the wider theme of “Achieving inclusive growth through responsive and responsible leadership” in mind. Women continue to be an important driver of African economies, with one-third of all businesses across Africa owned by women.

  • Bitcoin Soars To An All-Time High: What It Means For Africa

    Bitcoin soars to an all-time high By Dana Sanchez, 5:07 pm

    Bitcoin surged today above $1,400. Its most recent rise is attributed to strong demand in Japan, where the digital currency is designated legal tender. Most African banks charge 10-to-19% on remittances. Bitcoin has started taking a bite out of the $4B trade from international transfers to Africa, but it’s still moving slowly. The U.S. Securities and Exchange Commission is credited with helping boost the value of bitcoin. The Winklevoss brothers — disputed founders of Facebook — applied to list a proposed bitcoin-tracking exchange-traded fund, and were initially rejected. The SEC is reconsidering.

  • Africa Is The Next Frontier For VCs As Startup Funding Has Increased

    VCs By Staff, 10:25 am

    Venture Capitalists are becoming more and more interested in investing in African startups, and this is only expected to increase over the next few years. According to Clarium Capital founder Peter Thiel, entrepreneurs should look for secrets where no one is looking and turn them into business opportunities. Thiel says it best in his book: […]

  • Private Equity Is Not Dead, But Maybe It’s Time For More Hedge Funds In Africa

    Hedge Funds In Africa By Kurt Davis Jr., 2:00 am AFKI Original

    Short-term volatility and uncertainty in the African growth story create opportunities for hedge funds. Hedge funds generally operate more flexibly than private equity, and they have the creativity to generate bond-like returns that outpace inflation. Critics say hedge funds have limited liquidity in an opaque world. The riskiest play — but with big returns — is in agriculture and land. Where land is for sale in Africa, investors are making a play for a limited resource, especially when it’s arable, ripe for production or ideal for commercial and residential construction.

  • Chinese Factory That Makes Ivanka’s Shoes Expands In Africa

    By Staff, 2:42 pm

    Huarong Zhang is chairman of Huajian Group, whose Chinese factories make shoes for Ivanka Trump, Nine West, Michael Kors and other Western brands. This week, Zhang brokered a $ 1.5 billion deal with the Nigerian government to build a shoe factory Nigeria. Huajian already has a shoe factory in Ethiopia manufacturing more than 2,000 pairs of shoes a day that are exported to the U.S. and European markets. Huajian produces 12 million pairs of shoes a year, mostly high-end brands for European and U.S. markets. They typically sell for at least $100 a pair in the U.S.

  • World Bank Boosts African Startups With Business Acceleration Initiative

    World Bank Giving African Startups A Boost With Business Acceleration Initiative By Peter Pedroncelli, 5:36 am

    The World Bank Group has committed to supporting the growth of Africa’s digital economy with the launch of XL Africa, a business acceleration initiative that will provide a raft of benefits for the 20 most promising startups in sub-Saharan Africa over the next five months. African digital entrepreneurs will have an opportunity to be mentored by various global specialists, increase their visibility on the continent and receive access to corporate partners and investors.

  • Want To Invest Outside South Africa? JSE Launches First Africa-Focused ETF

    JSE Launches First Africa-Focused ETF By Dana Sanchez, 4:53 pm

    An IPO today on the Johannesburg Stock Exchange introduced a new option for investors who want to add African exposure to their portfolios. The AMI Big 50 ex-SA ETF offers 50 African blue-chip companies outside South Africa. The IPO is a world first – an ETF offering exposure to a pan-African index that excludes South Africa. “A lot of people do worry about the liquidity risk, but being an ETF means that there is a secondary market on the JSE which allows investors in smaller quantities to trade exposure in and out of Africa,” a stakeholder said. The ETF is managed by Cloud Atlas, which plans to launch two more Africa-focused ETFs by July.

  • Nigeria Coach Gernot Rohr Says Door Is Open For Vincent Enyeama To Return

    Vincent Enyeama - French Ligue 1 By Peter Pedroncelli, 4:46 am

    Nigeria national team coach Gernot Rohr has publicly stated that a return to the Super Eagles is a possibility for internationally retired goalkeeper and former captain, Vincent Enyeama. The German coach opened the door to his return, making it clear that he is welcome to reignite his national team career if he is willing to work hard and be humble. The Nigerian shot-stopper decided to retire from the Super Eagles in October 2015 following the revelation that then coach Sunday Oliseh had chosen for Ahmed Musa to captain the side, rather than the veteran keeper.

  • Opinion: Big Bond For Africa Could Help Maximize Aid At A Time When Aid Is Under Pressure

    Big Bond for Africa By Staff, 2:57 pm

    At a time when aid is under political pressure, a bold approach is needed to maximize the efficiency of donor resources. While governments in Africa are spending more on public infrastructure themselves, outside finance is still required, especially for regional projects — rarely a priority for national governments. Aid from Africa’s traditionally generous foreign donors is set to shrink. There may be a solution. The “Big Bond” is a strategy for leveraging foreign aid funds in international capital markets to generate financing for massive infrastructure investment.

  • Under-The-Radar African Pension Funds Could Help Pay For Infrastructure

    African pension funds By Staff, 8:36 pm

    Pension funds are good news for infrastructure projects in Africa. Development banks and private equity funds are targeting pension funds in Africa as sources of investment capital. Four African countries hold 90 percent of Africa’s pension fund assets. Despite challenges, African pension funds are likely to make a substantial impact on infrastructure investment in the next few years. One promising trend is the rise of regional funds targeting pensions. They’re making a new source of African capital available to address the region’s infrastructure deficit.

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