Nigeria: Latest News
Peter Pedroncelli, 3:49 am AFKI Original
The Seedstars Lagos Competition served as the Nigerian leg of the global early-stage startups competition for emerging markets took place at the end of August, with 10 of the best startups vying to be the representative from Nigeria for the global final event next year. Here are the 10 tech startup finalists that were in consideration for the Seedstars Lagos Competition.
Peter Pedroncelli, 7:13 pm
It may seem counter-intuitive, but Africa’s richest man, Aliko Dangote has been quoted as saying that he wishes for the oil price to remain low, with his oil-rich Nigerian homeland in mind. Speaking at the United Nations general assembly in New York, the business leader told investors about Nigeria’s potential as an agricultural powerhouse, as well as his prayers with regards to the oil price
Kurt Davis Jr., 4:31 pm AFKI Original
Betting on oil and gas prices these days is part-art and part-fun for bankers and investors, but major oil giants Total seem to be backing East Africa. Numerous pipelines for oil and gas are under construction across the African continent, and may be something for investors to monitor closely. Gas is the third largest fuel source in the global primary energy mix and the second largest source in power generation, contributing 24 percent and 22 percent to each market respectively.
Peter Pedroncelli, 5:50 am AFKI Original
Instant messaging apps have become indispensable for most modern smartphone users, and Africa is no different, with a number of popular mobile applications being used around the continent. Engaging with friends and family has never been easier, with mobile phones equipped to facilitate messaging via these apps, making communication affordable and more accessible than ever before for African users.
Peter Pedroncelli, 10:57 am
A specialized version of the the Google-owned online video service, called YouTube Go, has been made available to Nigerian users through the launch of a mobile app in the country. The U.S.-based company announced that the YouTube Go app is now available for initial public download in Nigeria. Google chief executive Sundar Pichai and his team visited Nigeria in July to unveil a YouTube version built for Nigerians with slow internet speeds.
Kurt Davis Jr., 5:18 pm AFKI Original
While some African supermarket chains are achieving success, Kenyan brands Nakumatt and Uchumi are struggling badly. Smaller countries, such as Mozambique and Namibia, provide bigger opportunities for expansion (and returns) compared to East African nations. One can better manage growth expectations and costs in neighboring southern African countries, including Zambia, than in the rising East African giants.
Peter Pedroncelli, 4:26 am
East African mobile giant Safaricom’s M-Pesa has been upgraded so that enhanced features can be added to the mobile money transfer platform. The popular Kenyan money transfer system was upgraded last week, with a service interruption of 13 hours explained as necessary to enable new features which will be added to M-Pesa in the coming months for the benefit of their 26 million customers.
Tom Jackson, 1:11 am AFKI Original
Technology has not pervaded the legal profession as it has other industries, especially in Africa, where issues with access and affordability remain. There are a small number of African legal-tech startups – backed by international organisations – that are looking to propel that change with the use of technology. From South Africa to Nigeria, the legal profession is in the process of getting a tech boost.
Staff, 7:16 am
Led by serial entrepreneur Jorn Lyseggen, Meltwater Entrepreneurial School of Technology (MEST), is a Pan-African entrepreneurial training program, seed fund, and incubator that was created for the purpose of realizing talent and merging it with opportunity. MEST has been the backbone of a number of world-class African tech and software companies. Leading the pack with inspiring examples of African startup exits such as medical claim handling company ClaimSync and mobile chat app Saya Mobile.
Peter Pedroncelli, 6:35 pm
Aaron Fu was recently appointed as the new managing director of Meltwater Entrepreneurial School of Technology, a training program, seed fund and Africa’s largest tech incubator based in Ghana. The incubator has links throughout Africa, and since launching in 2008 it has already invested over $20 million in African startups. Over 350 individual entrepreneurs have graduated from the training program and over 30 tech startups have been launched thanks to its support.
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