Markets: Latest News

  • Bitcoin Exchange Launching In Kenya. Nigeria, Ghana and Botswana To Follow

    bitcoin exchange By Peter Pedroncelli, 3:49 am

    Malaysian bitcoin technology provider Belfrics Global is launching a bitcoin exchange in Kenya, allowing users and traders of the cryptocurrency to transact through additional services. The Kenyan arm of Belfrics will offer a number of digital services revolving around the Blockchain, as well as a payment gateway for merchants to accept bitcoin as payment for products and services. They will then expand to Nigeria, Ghana and Botswana.

  • African Tech Startups Need Changes In Venture Capital To Embolden Them

    African tech startups have the ability to achieve further success with more venture capital availability. Photo - AfriZap By Kurt Davis Jr., 5:25 am AFKI Original

    There are currently 300 tech hubs in 93 cities across 42 countries on the African continent. The growing number of tech hubs and developers is drawing significant investment, with more than $366 million invested in startups across Africa in 2016. Despite these positive numbers, a few tweaks could help in boosting the African tech scene and increasing the likelihood of success for African startups.

  • 12 African Nations With The Highest Internet Contribution To GDP

    Internet contribution - The Internet contributes a great deal to Senegal's economy. Photo - African Business Magazine By Peter Pedroncelli, 6:07 pm AFKI Original

    The internet continues to be a driver of business and economies the world over, and the internet contribution to GDP is an interesting barometer of growth. Africa’s average internet contribution to GDP was only 1.1 percent in 2012, or about half the level seen in other emerging economies. This has positive implications for the potential growth of e-commerce and internet-based businesses on the continent.

  • Opinion: 4 Potential Candidates For Goldman Sachs To Buy Up Debt In Sub-Saharan Africa

    Gas and oil-rich Nigeria provides an opportunity for banks willing to buy up government debt. Photo - Hope for Nigeria - sub-Saharan Africa By Kurt Davis Jr., 5:57 am AFKI Original

    The story of American bank Goldman Sachs buying $2.8 billion worth of Venezuela government bonds back in May stirred a, perhaps unwarranted, backlash from the morality police, but it gave the country’s government a much needed financial windfall, and made money for the banks involved. With that in mind, and similar opportunities available in sub-Saharan Africa, we offer Goldman Sachs a few candidates in the region to put on their radar.

  • Vodacom Shareholders Vote In Favor Of Safaricom Majority Share Acquisition

    share acquisition - 160232989 Vodacom billboard in Johannesburg. Photo: Nadine Hutton/Bloomberg/Getty By Peter Pedroncelli, 5:14 am

    SA telecommunications giant Vodacom’s minority shareholders voted in favor of plans to acquire a majority share in Kenya’s largest company, Safaricom. The shareholders voted at the telecoms company’s annual general meeting, with 99.59 percent voting in support of the resolution, while only 0.40 percent were against the acquisition. In May Vodacom proposed the purchase of a 34.94 percent indirect stake set to be bought from the Kenyan government.

  • Microsoft Appoints Former Dell Executive As Nigeria General Manager

    Nigeria general manager - Akin Banuso (right) meets with some of his new colleagues at Microsoft. Photo - LinkedIn By Peter Pedroncelli, 6:34 am

    Former Dell executive Akin Banuso has been appointed as the new Microsoft Nigeria general manager, bringing over 20 years of digital industry experience to the company. The seasoned tech professional is tasked with leading the company’s digital transformation drive in the West African nation. Nigeria represents an important market for Microsoft, as the continent’s most populous nation and one of the biggest economies in Africa.

  • Four South African Banks Join Blockchain Proof Of Concept Initiative

    blockchain opportunities - South African banks By Peter Pedroncelli, 6:11 am

    Four South African banks have joined the Society for Worldwide Interbank Financial Telecommunication’s (SWIFT’s) blockchain proof of concept initiative, joining a number of major global banks in doing so. South Africa’s four traditional banking giants, Absa, FirstRand Bank, Standard Bank and Nedbank have joined the blockchain proof of concept initiative, which aims to determine whether blockchain can assist banks improve their global liquidity by reconciling their international nostro accounts in real-time.

  • What Exactly Is Chinafrica And How This Macro Megatrend Will Impact The Global Tech World

    Chinafrica By Staff, 10:25 am

    VCs and startup founders rarely pay attention to slow-moving but powerful macro global events, especially with so many fast-moving things to focus on at the micro level, like technology, teams, and trends. While VCs and startup founders often are the earliest to know about technological advances bubbling from the bottom up (while public-market hedge fund and global macro investors find out about them only later), they often are the last to know about global macro forces that may impact them.

  • Kenya First Country To Issue Mobile Phone-Based Bond Without Bank, Sells Out In Days

    Mobile Phone-Based Bond - Kenya launches world's first mobile-only government bonds. Photo - AfricaBusinessCommunities By Peter Pedroncelli, 7:23 am

    Kenya is the first country in the world to issue a mobile phone-based bond that does not require the availability of a bank account. The Kenyan government began selling a three-year infrastructure bond, known as M-Akiba, on March 23, issuing an initial $1.44 million worth that was sold out in a matter of days. The success of the bond issue via mobile has led to another $9.64 million being made available following the first part of the bond being fulfilled.

  • Fundraising Opportunities In Africa: Nigeria, South Africa And Oil Still Raise Questions

    Oil and gas remains an investment opportunity in Africa. Photo - HowWeMadeItInAfrica By Kurt Davis Jr., 11:08 am AFKI Original

    As the second half of 2017 comes into focus, entrepreneurs and private equity managers alike want the narrative in investor circles to change regarding sub-Saharan Africa and fundraising opportunities. Investor sentiments remain that sub-Saharan Africa is still rebounding from the economic challenges of 2015 and 2016, but the focus for entrepreneurs and private equity managers should be on the oil importers and emerging Francophone Africa.

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