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Tag: Africa

Egypt leads Africa in foreign direct investment
Business

Egypt leads Africa in foreign direct investment

Bisola David The United Nations Conference on Trade and Development World Investment Report 2023, has revealed that Egypt experienced a tremendous increase in FDI, more than double of the $11 billion in 2022, establishing it as Africa’s leading economy with the most foreign investments. Business Insider reported that this considerable growth can be ascribed to increased cross-border merger […]

Top ten best passports in Africa
Business

Top ten best passports in Africa

Alex Omenye Nigerian passport has emerged the 50th strongest passport in world with regard to its relevance, access to countries and strength globally. The Nigerian passport was placed 95th in the world in the most recent Henley Passport Index report of 2024, in addition to being “the 50th strongest passport in Africa.” As stated in […]

Amazon Prime video shifts focus, cuts funding in Africa, Middle East
Tech

Amazon Prime video shifts focus, cuts funding in Africa, Middle East

Amazon Prime Video is reorganizing its global operations to concentrate on original European content, reducing staff and funding in Africa and the Middle East. There will be layoffs in the local teams even if Prime Video will still function in those regions. In the meantime, Barry Furlong, vice president of Prime Video Europe, will oversee […]

Top ten oil producing countries in Africa
Oil and Gas

Top ten oil producing countries in Africa

It has been a turbulent year for Africa’s top oil producers, with global oil demand falling 11% in the first half of 2020 and OPEC+ eliminating 9.7 million barrels per day from the market in a historic agreement last April. African producers are now attempting to increase output to pre-COVID-19 levels as OPEC progressively reduces […]

Top 10 biggest airports in Africa
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Top 10 biggest airports in Africa

Africa is a vast and diverse continent with variations in infrastructure and economic growth. Africa’s air travel is centered on large hubs such as Johannesburg, South Africa, Nairobi, Kenya, Cairo, Egypt, and Addis Ababa, Ethiopia. These cities’ airports serve as vital connecting hubs for international and domestic flights. Air travel in Africa has grown rapidly […]

Nigeria leads Africa’s booming beauty market — Report
Business

Nigeria leads Africa’s booming beauty market — Report

Nigerians have always stood out when it comes to beauty and personal care. Little wonder the Nigerian market was reported to have imported more than $1.1 billion in cosmetics, fragrances, essential oils, and toiletries. This data comes from a comprehensive study by Beauty West Africa, the organizers of Africa’s largest beauty show event, which took place at the […]

Seedstars Africa raises $30m to fund African startups
News Tech

Seedstars Africa raises $30m to fund African startups

The European Investment Bank’s subsidiary, EIB Global, has committed $30 million in finance to Seedstars Africa Ventures. Following a $8 million investment, French private equity firm LBO France, the fund’s anchor investor, has made a fresh commitment. With a goal of raising between $80 million and $100 million, the fund will help seed and Series […]

Cameroonian city ranked most expensive in Africa
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Cameroonian city ranked most expensive in Africa

Living in African cities can be a genuine financial burden these days, owing to the recent increase in inflation. Everything is getting more expensive, from housing to groceries. According to one of the world’s leading data and research platforms, Numbeo, food and utilities, for example, have seen price increases. Numbeo reports that Douala, Cameroon is […]

Zanzibar to build first seven-star hotel in East Africa
Business

Zanzibar to build first seven-star hotel in East Africa

Zanzibar hopes to raise the bar for African hospitality by constructing a seven-star hotel. According to a Tanzanian publication, The Citizen, this is also part of its aim to strengthen tourism, its core sector. The hotel will be constructed on a tiny island. The Montuli would be the name of the ambitious seven-star deluxe hotel, […]

S'African billionaire dethrones Dangote as Africa’s richest man
Business featured News

S’African billionaire dethrones Dangote as Africa’s richest man

Johann Rupert and family have emerged as the richest man in Africa, dislodging Aliko Dangote as the continent’s wealthiest man in a list released by Forbes Magazine. Nigerian billionaires; Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings released by the financial magazine In the list, the Forbes Daily billionaires ranking […]

Airtel Africa CEO Ogunsanya retires, names Taldar successor
Business

Airtel Africa CEO Ogunsanya retires, names Taldar successor

Airtel Africa stated on Tuesday that Chief Executive Officer Olusegun ‘Segun’ Ogunsanya will retire on July 1, 2024, and has thus, appointed Sunil Taldar as his successor. According to Business Day, Taldar, who joined Airtel Africa as Director Transformation in October 2023, will begin the transition to CEO with Ogunsanya. Following the transition phase, Taldar will […]

Sony to invest $10m in African entertainment startups
News Tech

Sony to invest $10m in African entertainment startups

The Sony Group on Wednesday announced the launch of Sony Innovation Fund: Africa (SIF: AF), a programme that will aid the expansion of entertainment companies in Africa. Tokyo multinational conglomerate Sony Ventures Corporation (SVC) has set aside $10 million for early-stage entrepreneurs in the gaming, music, film, and content distribution industries. This fund targeted at […]

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