Economy
Economy

Yes, Nigeria’s $19 Billion Refinery is a Really Big Deal for 1.4 Billion Africans

In September 2013, Nigerian billionaire Aliko Dangote announced that he had secured about $3.3 billion in financing for the development of the “largest single-train refinery in the world”. Projected to cost $18.5 billion-plus, the mega-refinery was going to grow from the bustling heart of Nigeria’s economic landscape, redefine the nation’s energy landscape and extend its […]

Read More
African Entrepreneurship

Empowering Africa’s Tomorrow: Meet 8 Fearless Female Entrepreneurs Transforming Africa’s Future

In the dynamic landscape of African entrepreneurship, several remarkable women stand out, making significant strides in diverse industries. These trailblazers not only exemplify resilience and innovation but also contribute to shaping the future of their respective fields; leading innovative companies and playing pivotal roles in shaping various industries. Here, we spotlight some of the top […]

Read More
Economy

Remittance flows into Africa are gradually being retooled to foster entrepreneurship and support innovation.

Wealthy private investors and a tech-savvy middle class in Africa are helping to bridge early-and-growth stage funding gaps for startups as platforms emerge to help funnel diaspora cash into the continent’s rapidly expanding venture capital market. Remittance flows into Africa are gradually being retooled to foster entrepreneurship and support innovation on the continent, giving multi-stage […]

Read More
Business Economy

An investment fund to be established by the Lagos State administration.

Recently, while speaking to African reporters on the sideline of the just-concluded GITEX 2020 in Dubai, the special advisor to the Lagos state governor on innovation and technology, Olatunbosun Alake, said that the government is planning to launch its own venture capital fund that would “write bigger equity cheques for Nigerian startups than most privately-owned […]

Read More
Economy

Google is making good on their $1billion investment in Africa, South Africa to host its first ever cloud region.

Google announced its plan to establish its first-ever cloud region in Africa in South Africa.  The announcement was made at the 2022 Google for Africa event as an example of how Google is delivering on the $1 bilion investment commitment made last year by the company’s CEO, Sundar Pichai. The new Cloud region will help users, developers, businesses […]

Read More
Economy

Nedbank steps into the metaverse!

South African bank Nedbank has announced its entrance into the metaverse by acquiring a 12×12 village in Ubuntuland, Africarare’s metaverse. With this move, the bank establishes its presence as the first African financial services organisation to enter the metaverse. Nedbank did not disclose how much it paid for the land. According to their press release, the Nedbank village has […]

Read More
Economy

MTN has announced that it is building private 5G networks for big companies in the mining and port industries.

South Africa’s second-largest mobile network operator MTN has announced that it is building private 5G networks for big companies in the mining and port industries. The networks will offer dedicated capacity and guaranteed coverage as the network ramps up its superfast 5G network rollout. According to MTN SA CEO Charles Molapisi, the network has already signed 14 companies […]

Read More
Business Economy Finance

Yellow Card gets $40 million dollars Series B funding

Pan-African cryptocurrency exchange Yellow Card has announced the close of its $40M Series B funding led by Polychain Capital. Other investors participating in the round include Valar Ventures, Third Prime, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, and others. According to a statement, the company will use the funding to drive business […]

Read More
Africapitalism Economy

A new dawn in Kenya, Money lenders have three days to comply with directives.

Kenya is going all out to regulate its digital economy, and enforcement is not taking a backseat there. Last year, the east-African country laid out regulatory blueprints for both the payments and digital lending industries. At first, it seemed like business as usual: African regulators saying how things should be but never following through on ensuring them. […]

Read More
Economy

The solution to Nigeria’s power crisis lies in the involvement of the states.

Every modern nation’s socioeconomic and technological progress is greatly influenced by electricity. The demand for energy in Nigeria is significantly greater than the supply, which naturally makes it epileptic. Nigeria’s electricity industry has suffered a lot of setbacks; the national grid has collapsed seven times this year. Also, according to historical data of power supply […]

Read More
X