Nigeria: Latest News
Uganda Could Be 1st African Country To Regulate Digital Currencies. Bitcoin Africa: What To Expect In 2017By Dana Sanchez, 4:52 pm
Some African countries have openly criticized bitcoin use. Others have taken a wait-and-see approach. Bitcoin enjoyed a rally in 2016 that’s beaten every major currency, stock index and commodity contract, surging 15 percent during Christmas week alone. Bitcoin transactions increased more than tenfold in Kenya in 2016, according to LocalBitcoins, the world’s largest online bitcoin trading marketplace. In 2017, Uganda could be the first African country to regulate digital currencies.
Dana Sanchez, 10:40 am
Women must get a husband’s permission to obtain identity cards in at least two African countries. However there are many African countries where women have unequal access to property, land and tenure rights. This hinders women from contributing to their countries’ economic growth, the African Development Bank says. The finance institution was established in 1963 to contribute to African economic development and social progress. It provides financing to African governments and private companies. So how much money are we talking about? In 2015 alone, AfDB disbursed $8.8 billion US.
Dana Sanchez, 11:41 am
Europe’s largest automaker is expanding in Africa, hoping to open an auto assembly plant in Rwanda and also pilot ride-hailing and car sharing services. VW’s move into “app-based integrated mobility” in Rwanda is significant for two reasons. It’s happening in an African city and it’s a new business model for future urban mobility. Rwanda does not have an established vehicle industry and Uber hasn’t entered the market yet. VW isn’t just competing with Uber. Other ride-hailing services are looking for new markets in Africa.
Kurt Davis Jr., 4:29 pm AFKI Original
A sense of what Zimbabwe can expect post-Mugabe. Partnership in the fight against terror for Tunisia. Better strategies combating poverty and HIV in Swaziland. These are just a few of the wishes that a U.S. investment banker visualizes for African countries as the old year winds down and 2016 gives way to 2017.
Kurt Davis Jr., 10:11 am AFKI Original
It is the end of the year, a time when companies close the books and forecast 2017. As African governments roll out 2017 budgets or budget adjustments, it’s an ideal time to take an early look at the two gigantic problem countries — sub-Saharan Africa’s second- and third-largest economies. A sustained low oil price could all but doom these African budgets and burden their economies. Will debt markets be willing to service Nigeria? President dos Santos said he is prepared to step down — not bad timing. Angola may be the giant taking the hardest punches.
Peter Pedroncelli, 3:44 am
Nigerian national team captain John Obi Mikel appears to be close to completing a move to struggling French Ligue 1 club Olympique Marseille, if Super Eagles coach Gernot Rohr is correct. Mikel has been frustrated at Chelsea this season, failing to appear on the pitch for the first team this term under new coach Antonio Conte.
Dana Sanchez, 8:34 am
Paystack, one of Nigeria’s most hotly anticipated tech start-ups, has secured $1.3M seed funding from investors including Tencent and Comcast Ventures. China’s Tencent is 46% owned by South African media company Naspers. Comcast is the largest broadcasting and cable TV company in the world. Donald Trump said he intends to keep business ties to Comcast, staying on as executive producer for the spin-off of Comcast affiliate NBC’s “Celebrity Apprentice” series.
Derek Dias, 3:47 pm
The Arabic word Sahel means shore or coast, and everyone knows coastlines recede. The name likens this band of scrub land stretching across Africa to a coastline separating the Sahara from the rest of the continent. The Sahara is encroaching on the Sahel, eating away at it mile by mile. From the Atlantic Ocean to the Red Sea, the Sahel passes through more than a dozen countries. Seldom visited, it acts as a barrier between arid North Africa and the moister sub-Sahara. It’s home to plants and animals that exist nowhere else.
Dana Sanchez, 9:39 am
The Kenyan production facility will be Volkswagen’s third on the continent. Volkswagen hasn’t assembled cars in Kenya since the 1970s when it manufactured the Beetle model. Kenyans overwhelmingly buy second-hand imports. Used car sellers account for about 80% of total vehicle sales. VW is expanding in Africa to tap the enormous growth potential of the African new car market. The cars will be assembled in Kenya using vehicle kits imported from VW’s South African plant.
Peter Pedroncelli, 5:37 am
Telecommunications giant Orange has concluded a new long-term partnership deal as official sponsors for the Confederation of African Football (CAF) flagship competition. The new eight-year deal will see the France-based company confirmed as an official sponsor of five major CAF competitions from 2017 to 2024, beginning with the 2017 Africa Cup of Nations (AFCON) in Gabon this January.
- Real Estate