Business

Nigeria’s Dangote Tops list of African Billionaires

Nigeria’s Dangote Tops list of African Billionaires

Africa, Business, Features
There are just six Africans on the ranking of the world’s 500 richest people in the Bloomberg Billionaires Index Aliko Dangote Aliko Dangote’s (bloom.bg/2ToRwGk) $17 billion net worth makes the Nigerian the richest person in Africa and the only member of the Bloomberg Billionaires Index (Bloomberg.com/billionaires) Dangote, 61, is the  owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries 2. Nicky Oppenheimer Nicky Oppenheimer De Beers heir Nicky Oppenheimer, 73,  is   currently the richest man in South Africa, with a Networth of $7.05 Billion. 3. Johann Rupert Johann Peter Rupert, 68 is a South African-born entrepreneur, who is the eldest son of business tycoon Anton Rupert and his wife Huberte. He is the chairman of the S
Orange launches « Sanza », the phone which democratises access to Internet in Africa

Orange launches « Sanza », the phone which democratises access to Internet in Africa

Business
Beginning April 2019, Orange customers in Mali, Burkina Faso and Côte d’Ivoire will have access to a new category of smart feature phones powered by KaiOS, the operating system from KaiOS Technologies At Mobile World Congress, Orange (Orange.com) partners with KaiOS Technologies (KaiOSTech.com) and UNISOC (UNISOC.com) to launch a phone with voice recognition at $US 20 in 16 countries in Africa and the Middle-East :Botswana, Burkina Faso, Cameroon, Central Africa Republic, Democratic Republic of Congo, Côte d’Ivoire, Egypt, Guinea Bissau, Guinea Conakry, Jordan, Liberia, Madagascar, Mali, Morocco, Sierra Leone and Tunisia.       An affordable 3G smart feature phone   Beginning April 2019, Orange customers in Mali, Burkina Faso and Côte d’Iv

MainOne and Facebook announce open-access fiber network in Nigeria

Business
MainOne is building and operating approximately 750 km terrestrial fiber infrastructure in Edo and Ogun States, two of Nigeria’s fastest growing states MainOne (www.MainOne.net) has announced a metro fiber infrastructure project in two states of Nigeria, with support from Facebook. The infrastructure collaboration is part of Facebook’s efforts to connect more people to broadband internet. As part of this project, MainOne is building and operating approximately 750 km terrestrial fiber infrastructure in Edo and Ogun States, two of Nigeria’s fastest growing states. These open-access transport networks will provide metro fiber connectivity to reach more than 1,000,000 people in Benin City, Abeokuta, Sagamu and 10 other towns by connecting mobile operators' base stations, Internet Servic
Leadership lessons from Africa’s trailblazers – Nadia Fettah, CEO, Saham Finances

Leadership lessons from Africa’s trailblazers – Nadia Fettah, CEO, Saham Finances

Business, Features
Map your strategy: Building a Pan-African insurance company Nadia Fettah, CEO of Morocco-based Saham Finances, has overseen the company’s expansion from a small local firm into a leading African insurance company operating in 23 countries across the continent. Between 2005 and 2015, it increased its sales nearly tenfold, to over $1 billion. In 2016, Saham took its African expansion strategy to the next level: it partnered with Sanlam, a long-established South African insurance company that had also made Africa its major growth focus. This partnership became a merger in 2018, when Sanlam fully acquired Saham in a $1.1 billion transaction, purchasing the remaining stake in the company it didn’t already possess. Nadia Fettah: Our goal was simple: to become the best insurance company in Afri

49 countries in AfCFTA’s deal

Africa, Business, Economy
At least 49 out of the 55 African Union (AU) member states have signed a Continental Free Trade Area (AfCFTA) agreement. The AfCFTA is designed to create a single continental market for goods and services, with free movement of business persons and investments and acceleration of the establishment of the Customs Union. It is also expected to expand intra-African trade through better harmonisation and coordination of trade liberalisation, facilitate instruments across the regional economic communities and across Africa, enhance industrial competitiveness and utilise opportunities for scale production, continental market access and better resource reallocation. It was presented for signature, along with the Kigali Declaration and the Protocol to the Treaty Establishing the African Economi...
N39.15trn transactions made on ATM in Q4 2018

N39.15trn transactions made on ATM in Q4 2018

Business
The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018. The bureau stated this in its “Selected Banking Sector Data for Fourth Quarter, 2018”, posted on its website on Wednesday. It said that the amount was derived from 616,528,697 transactions recorded as data on “Electronic Payment Channels in the Nigeria Banking Sector” during the period. The bureau added that NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded in the quarter. According to the report, 228, 209, 423 NIP transactions valued at N23.57 trillion were recorded in the quarter under review. In terms of credit to private sector by the Central Bank of
Aleph Hospitality Signs Deal with Marriott International to Manage the First Four Points by Sheraton in Liberia

Aleph Hospitality Signs Deal with Marriott International to Manage the First Four Points by Sheraton in Liberia

Business, Features
Four Points by Sheraton Monrovia to become first internationally-branded hotel in Liberia Pioneering hospitality management company, Aleph Hospitality (www.AlephHospitality.com), today announced the signing of a franchise agreement with Marriott International for the first Four Points by Sheraton (Four-Points.Marriott.com) hotel in Liberia. Located in the capital city, Monrovia, the hotel is due to become the first internationally branded hotel in the country upon opening in 2020 and will be managed by Aleph Hospitality under the Four Points by Sheraton brand.   The landmark property is ideally situated in the city’s central business district, adjacent to the United Nations mission and in close proximity to a number of government organisations and commercial offices. It w
Avanti partners MainOne to improve broadband penetration with converged solution

Avanti partners MainOne to improve broadband penetration with converged solution

Business, Innovation
The companies made this announcement on Friday at Nerds Unite, an annual IT conference hosted by MainOne Avanti Communications Group plc (Avanti) (AvantiPlc.com) a leading provider of satellite data communications services in Europe, the Middle East and Africa (EMEA) and MainOne (MainOne.net), a premier connectivity and data centre solutions company in West Africa, have signed an agreement to jointly improve broadband penetration across Nigeria by providing the latest KA-band based satellite communication services to enterprises located in remote areas of the country. The companies made this announcement on Friday at Nerds Unite, an annual IT conference hosted by MainOne. Such services are most critical for the Oil and Gas sector, and for the delivery of social and educational service...
From geeky tech to popular payment method: Kaspersky Lab finds one-in-ten people now use cryptocurrency

From geeky tech to popular payment method: Kaspersky Lab finds one-in-ten people now use cryptocurrency

Business
Cryptocurrency, often associated with ‘geeks’ or those looking to raise cash quickly, has turned into a popular payment method. According to a recent report from Kaspersky Lab (bit.ly/2Spbz7T), one-in-ten people (13%) have now used it to make a purchase. However, cybercriminals are also embracing this trend by targeting cryptocurrency exchanges and modifying old threats (bit.ly/2TjJI5s) to attack investors. This is leaving people at risk of losing their savings stored in this unprotected technology, as hackers develop sophisticated techniques to access funds. There are a growing number of businesses now offering cryptocurrency as a payment method, with retailers (bit.ly/2tVjMFd) and food outlets (bit.ly/2SrULgu) now accepting it. Prices are falling and major sports teams (bit.ly/2rC42py
In Nouakchott, Economic Commission for Africa (ECA)’s Vera Songwe congratulates Mauritania on ratification of African Continental Free Trade Agreement (AfCFTA)

In Nouakchott, Economic Commission for Africa (ECA)’s Vera Songwe congratulates Mauritania on ratification of African Continental Free Trade Agreement (AfCFTA)

Africa, Business, Economy
In Nouakchott, Economic Commission for Africa (ECA)’s Vera Songwe congratulates Mauritania on ratification of African Continental Free Trade Agreement (AfCFTA)   In an audience with the President of the Islamic Republic of Mauritania Mohamed Ould Abdel Aziz held yesterday in Nouakchott, ECA’s Executive Secretary Vera Songwe congratulated Mauritania for having ratified the African Continental Free Trade Agreement (AfCFTA), as a major project for the region’s economic development. Mauritania is one of the first countries to sign the AfCFTA documents, this shows that its President and government are convinced of the importance of regional integration, said Songwe. Discussions with President Ould Abdel Aziz included strategic choices for ECA’s work in Mauritania and its coop