South African bitcoin exchange, Luno, will set up an office in Malaysia as part of the company’s continued global expansion plan. The office, which will be located in Kuala Lumpur, is planned for the first quarter of 2018 in order to benefit from a huge local interest in cryptocurrencies. With offices in Cape Town, Singapore and London, Luno is looking to set up further office sites as part of its expansion into other global regions.
Markets: Latest News
Staff, 5:40 am
Informal transactions through Facebook groups are threatening the success of e-commerce giants in Africa according to a recent straw poll on the impact of the Black Friday sale promotion on this fledgling industry. According to a Geopoll Black Friday Straw Poll, which ran in December 2017 among 2,031 respondents in Nigeria, South Africa, and Kenya, Jumia still remains the most preferred e-commerce vendor.
Peter Pedroncelli, 3:32 am AFKI Original
With 2018 well and truly upon us, it makes sense to consider the African tech trends that will feature during this year. From new technology and the kinds of tech startups that will likely be attracting investments, to considerations with regards to cyber security as a focus, 2018 has a great deal to offer the tech discussion in Africa. Here are 10 African tech trends that will define the year 2018.
Peter Pedroncelli, 5:15 am AFKI Original
The Johannesburg Stock Exchange has seen a mixed bag of success and failure for tech stocks over the last year, with some companies thriving while others failed to live up to expectations. Share prices among the tech stocks varied significantly during the course of 2017, with telecoms companies generally struggling with loses while telematics companies experienced excellent gains throughout the 12-month period.
Tom Jackson, 1:40 am AFKI Original
All in all, 2017 was another major year of development in the African technology space, but some tech companies made particularly impressive steps forward. From fintech to ed-tech, these tech firms were examples of success in an industry that is crying out for role models to follow and emulate. AFKInsider takes a look at eight of the African tech companies that enjoyed significant success in 2017.
Tom Jackson, 11:17 am AFKI Original
The year 2017 was, quite frankly, an exceptional one for Kenyan mobile operator Safaricom, but the same cannot be said for competitor, Airtel. Safaricom ended the year in as dominant a position as ever in the East African country, with 72 percent of market share, putting it far ahead of nearest challenger Airtel, which stands on less than 15 percent. Safaricom continued to expand into new areas, building out its taxi-hailng app Little and launching e-commerce platform – Masoko.
Peter Pedroncelli, 4:06 am
The East African Community’s (EAC) plans to launch a unified currency in the region has an additional challenge to overcome, as bitcoin adoption continues to grow in Africa. Six nations which fall under the intergovernmental central bank organization are currently planning a unified currency that would be considered legal tender in member states Burundi, Rwanda, Tanzania, Kenya, Uganda, and South Sudan.
Kurt Davis Jr., 4:52 pm AFKI Original
With the year 2018 now officially upon us, we thought it wise to make a few economic and political predictions for the African continent in the year ahead. From private equity deals in West Africa to the political situation in the Democratic Republic of Congo and everything in between, our emerging markets investment banker makes a number of major predictions for Africa with the next 12 months in mind.
Kurt Davis Jr., 12:44 pm AFKI Original
There are 54 countries in Africa, and each of these nations have specific advantages and challenges that are unique to them. They are in need of various blessings for 2018, which can serve to make sure the new year is an improvement on 2017. If this investment banker could be Santa and give gifts to each of his African friends, here’s what he would wish for each of the African economies in 2018.
Peter Pedroncelli, 4:50 am
African smartphone growth numbers are up in the third quarter of 2017, following on from two negative quarters at the start of the year. The continent’s smartphone market rebounded from two consecutive quarters of decline to post quarter-on-quarter growth of 4.4 percent between July and September. The growth is represented by shipments of around 21.7 million units in the quarter, with economic recovery credited with the improvements in Africa’s major markets.
Kurt Davis Jr., 2:04 am AFKI Original
Last year’s election predictions for 2017 were pretty accurate (if a little self-indulgence can be allowed). So this year will be interesting to watch again, with countries like Egypt, DRC (hopefully), and Zimbabwe on the calendar. The elections are sure to be very exciting for the countries going to the polls and those investors and other interested parties gauging how to engage such countries. Here are the top elections to watch in Africa and predictions for 2018.
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