Nigeria: Latest News
Peter Pedroncelli, 5:47 am
French telecommunications operator Orange have announced the launch of an African startup investment initiative that will support innovative startups across the continent. Orange has earmarked $56 million for investment, with half of it set to be invested indirectly through funds that specialize in the digital sector. The other half of the funds will go towards the creation of a new initiative, called Orange Digital Ventures Africa, which will invest directly in African startups within a number of industries including logistics, e-commerce, transport, energy, fintech, and e-health businesses.
Peter Pedroncelli, 3:16 am AFKI Original
Social media has taken the world by storm in recent years, and the number of active Facebook users in Africa is a testament to the fact that the continent is also part of the social media trend. With Facebook being the most popular of the social media networks, and the proliferation of mobile throughout Africa providing the ideal breeding ground, the combination of factors has led to a growing user-base for the company. Africa is home to around 330 million internet users, and around 44 percent of them are active on Facebook.
Peter Pedroncelli, 8:29 am AFKI Original
Understanding how Africans use the internet remains the subject of many research studies, with new data emerging regarding stats and trends. The continent is becoming an important market for numerous internet-based businesses, while social media platforms are attracting more African users than ever before. With faster internet speeds and a growing appetite for connectivity on the continent, online trends are changing and the internet is shaping the way Africans work and play. Here are the 12 things you didn’t know about how Africans use the internet.
Kurt Davis Jr., 6:44 am AFKI Original
The African consumer goods and retail investment space is looking up for the second half of 2017, with opportunities available across a number of countries on the continent. While the usual suspects such as Nigeria and South Africa remain likely targets for international retail investment, there are a number of wildcards on the continent which may surprise analysts and attract investment due to their established links to regional markets.
Peter Pedroncelli, 4:51 am
AfriLabs has further expanded its network of over 50 technology and innovation hubs across 20 African countries with the addition of 11 new hubs as members of the network. The new development sees the pan-African network of technology innovation hubs increase its membership base to Chad and the Democratic Republic of Congo. Other nations that increased their representation within the network supporting innovation infrastructure include Malawi, Nigeria, Kenya, Uganda, Tanzania and Zimbabwe.
Global Risk Insights, 6:33 pm
Proponents of the sharing economy say Uber and Airbnb benefit Africa, but who exactly is benefiting? They’re inserting themselves into existing informal sharing dynamics, acting as corporate middlemen and disrupting existing livelihoods. Underdeveloped formal sectors and high unemployment in Africa created the sharing economy out of necessity. Uber and Airbnb are taking a share of the profits.
Staff, 7:19 am
Co-creation Hub, a technology innovation centre in Nigeria and Google for Entrepreneurs, announced the launch of PitchDrive, a three-week, five-city European tech hub tour. This partnership will bring 15 African tech companies to pitch to investors, explore opportunities and learn about technology markets. African startup founders looking to raise funding will be selected by the PitchDrive team to embark on a tour that aims to build networks between European investors and African tech talent.
Peter Pedroncelli, 5:11 am
Malaysian subscription streaming video service iflix, which is focused on emerging markets, has announced the creation of iflix Africa to bring its service to sub-Saharan Africa while taking on the likes of Netflix and Showmax in the region. The video-on-demand service is planning to launch its service in South Africa during the third quarter of this year, before expanding into other parts of Africa. The current expansion plan includes the launch of services in Nigeria, Ghana, Kenya, Tanzania, and Zimbabwe, with iflix Africa taking the company’s global footprint to 23 territories.
Peter Pedroncelli, 6:44 am
Jumia, one of Africa’s fastest growing e-commerce platforms, has partnered with international credit card company Mastercard to make secure and convenient cashless e-commerce a reality in Africa. Africa’s e-commerce industry is experiencing a growth spurt in recent years, and online retailers across the continent are looking to find ways to attract new customers. Nigeria-based Jumia, one of Africa’s most popular online stores, believes that building trust and delivering a better customer experience will accelerate the growth that has been experienced thus far.
Kurt Davis Jr., 12:01 am AFKI Original
African bond investors are laying the rules for 2017 after a tumultuous 2015 and 2016. Senegal’s $1.1 billion Eurobond launch earlier this month establishes the parameters. The offering – more than eight times oversubscribed – demonstrates investors will reward African countries for growth and political stability. But what many African sovereign bond issuers will have to consider is how big yields could become. In some corners of the continent, bankers may start to ask if there will be a penalty for those holding significant undisclosed debts.
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