Nigeria: Latest News
Peter Pedroncelli, 2:30 am AFKI Original
While much of the focus inevitably falls on the African Player of the Year accolade, the various nominees for other soccer award categories have been revealed by CAF ahead of the gala event in January. The additional categories included Women’s Player of the Year, club and national teams of the year, coach of the year and accolades for promising young players.
Kurt Davis Jr., 11:34 am AFKI Original
Businessman Trump knows better than anyone that you must have the right friends to survive. Tunisia could be the surprise special relationship. A successful democracy there would boost the fight against terror. Nigeria could go either way with Trump. He wants to help oil in the U.S. This could hurt Nigeria. Political and financial engagement with Egypt, South Sudan, and South Africa will see some rebalancing. Trade that benefits the U.S. is low-hanging fruit for Trump, but how does he view AGOA? He promised to re-evaluate all trade agreements.
Betting On Poorer Africans, Soros-Backed Leapfrog Raising $800M For Investments, Eyes Kenyan InsurersBy Dana Sanchez, 9:50 am
LeapFrog Investments is betting on poorer Africans, or “emerging consumers” because they outnumber the continent’s middle class about four to one. Kenya’s new regulations will create buyout opportunities. Nigeria’s huge population and Ghana’s more sophisticated consumers make those markets attractive too. “We’re looking at payment companies because it’s becoming a popular tool that just offers much cheaper ways of doing business” across the continent, a LeapFrog partner said.
Tom Jackson, 4:20 am AFKI Original
Drones are, without doubt, one of the next big things of Africa’s tech revolution. Slowly but surely, they are being introduced in innovative ways to help with the continent’s development. In an interesting move, the City of Cape Town last week announced a partnership with local tech firm WeFix to use drones to spot sharks at Fish Hoek and Muizenberg beaches.
Dana Sanchez, 11:04 am
One of South Africa’s largest banks bought a majority stake in the team that built the country’s largest mobile payments product. Africa has the highest mobile money adoption rate in the world, but it’s hardly universal, catching on more in some countries and less in others. While banks and mobile payments startups would like to see large-scale adoption of mobile money, the reality is cash is likely to remain king in Africa — internet penetration and trust in the financial system are low on the continent.
Kevin Mwanza, 7:17 am
Nigeria, Africa’s largest oil producer, and its neighbors, Benin, Ghana, Togo and Cote d’Ivoire banned the importation of dirty fuels from Europe, in a move that the United Nations said will save at least 250 million people from air-borne infections. They took the decision after meeting with UNEP, in a move that banned fuels that cannot be sold to European markets because of their high sulphur levels.
Dana Sanchez, 11:16 am
It wasn’t easy getting ECOWAS members to hold a conference in Israel. The 15-member Economic Community of West African States held their first-ever seminar outside West Africa. They learned hands-on about Israeli irrigation technology and how a tiny Middle Eastern country under attack from all sides has managed to thrive in adversity. “In Israel we make the impossible possible,” a conference organizer said. “This conference is an example.” Netanyahu plans to visit West Africa in a few months.
Kevin Mwanza, 12:28 am
Nigeria is finalizing plans that will see it issue a Eurobond in the first quarter of 2017, a first since 2013 for the Africa’s second biggest economy. The $1 billion Eurobond is part of the government’s efforts to plug a growing budget deficit and stimulate growth in its economy, which slumped into recession in August. The rise in global oil prices last week to $55, the highest this year and expectations within the international community that the struggling economy is adopting reforms
Dana Sanchez, 2:33 pm
Fethullah Gulen, a cleric living in exile in the U.S., has inspired schools all over the world. The Turkish president wants those schools closed. Gulen-inspired schools have existed in Turkey since the 1970s, but only became a global phenomenon in the past 20 years as Gulen grew closer to President Erdogan, whose Islamist-rooted AK Party won in 2002. Since 2013, Erdogan has demonized Gulen and wants schools and hospitals belonging to Gulen supporters confiscated or closed. Turkey invested $6.2 billion in Africa in 2015. At least six African countries have agreed to let the Turkish government take over private schools linked to Gulen.
Ann Brown, 9:00 am AFKI Original
Nigerian-American Olatorera Oniru worked full time for some of the largest corporations in the world, but kept her dream alive by working part time for herself. At 29, she owns one of Nigeria’s top e-commerce fashion businesses. Focused on the Made-in-Africa movement, she mentors other entrepreneurs with potential in fashion and beauty who have not met the quality criteria to retail with her. Many university graduates don’t have the skills to succeed in the business world, and it’s one of the challenges of doing business in Africa, Oniru told AFKInsider.
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