Market articles

How Lagos Startup Week is creating access to investment for entrepreneurs Africa #lagos #nigeria

How Lagos Startup Week is creating access to investment for entrepreneurs Africa #lagos #nigeria

On July 31, a Nigerian startup will be offered the opportunity to compete for $1.5 million in investment by emerging markets-focused startup competition, Seedstars World. The global seed-stage competition will climax the Lagos Startup Week holding from July 27. The week-long event for startups and entrepreneurs in Nigeria will culminate with a pitching competition for 10-15

Nigerian Stocks Drop Most in 12 Weeks as Buhari Delays Cabinet – Paxnigerian News

Nigerian equities tumbled the most since April 8 as Nigerian President Muhammadu Buhari, who took office at the end of May, delayed naming his cabinet. The Nigerian Stock Exchange All Share Index declined for the first time in two days to wipe out this week’s advance as three shares fell for every one that gained.

Nigeria Replaces Saudi Arabia As Top Crude Oil Supplier To India |

Nigeria has replaced Saudi Arabia as the largest crude oil supplier to India after its oil exports to India last month surged by nearly 200 percent, supplying some 745,000 barrels per day. It’s the first time in at least four years that Saudi Arabia, the world’s top crude exporter, has lost the top spot, according

Buhari dissolves NNPC board – Premium Times Nigeria |

President Muhammadu Buhari has ordered the immediate dissolution of the board of the Nigerian National Petroleum Corporation, NNPC. The decision was conveyed in a letter, dated June 26, 2015, signed by the Head of Civil Service of the Federation, Danladi Kifasi. The letter quoted President Buhari as thanking members of the dissolved board for their

Nigeria several miles away from catching up with Kenya in mobile money usage – Ventures Africa |

There are nearly 170 million active mobile phones in Nigeria, the highest number in Africa and seventh in the world, but the country still lags behind Kenya, which only has 28 million active mobile phones, in the usage of mobile money. While Nigeria reports about N5 billion ($25.1 million) in annual mobile money transactions, the

Will the Cape to Cairo free-trade zone work? – |

The deal to create Africa’s largest free-trade zone has been hailed as an historic moment and brings to fruition a century-old dream to link the continent from the Cape to Cairo. Explorers and freedom fighters alike, all shared the vision to integrate African economies. The pact brings together the Southern African Development Community

What could happen if Nigeria is ejected from the JP Morgan index – Ventures Africa

JPMorgan has threatened to remove Nigeria from its Government Bond Index-Emerging Markets (GBI-EM) by the end of 2015 unless the Central Bank of Nigeria (CBN) restores liquidity to the foreign exchange market. “The key focus will be on consistency and observing a reliable record of liquidity, transparency and minimal hurdles for investors to transact,” JPMorgan

African Leaders To Sign Free Trade Agreement To Create Common Market |

Leaders of 26 African countries gathered in Egypt on Wednesday to finalize and sign a free trade agreement that would create a common market across Africa. The Tripartite Free Trade Area (TFTA) is set to stretch over half of the continent and include more than 600 million people. The issue of boosting regional trade between Africa’s

Will Nigerians take up the oil marketers’ challenge? – Vanguard News |

This indeed is the pertinent question to ask: whether Nigerians are ready to take on the challenge thrown at them by the oil marketers that have in the past few weeks held the rest of the country to ransom? Put differently, what the foregoing question demands of Nigerians is whether they are ready to accept

How Investments In “Mega Projects” Are Boosting Africa’s Economic Growth: Ernst & Young |

Foreign investment in Africa has taken a hit after serious political and economic tension, but business leaders are optimistic about the continent’s long-term potential. Analysts at Ernst & Young surveyed 500 business leaders in 30 countries to take a pulse on how investors view the African market for their latest Africa Attractiveness Survey. And while

Africa debate: Can Africa lead the way on renewable energy? – BBC News

There is a popular joke doing the rounds in Cape Town at the moment. Question: What did South Africa use before candles? Answer: Electricity. For people living here, it is not that funny. The country is undergoing its worst power crisis since 2008, with a rolling schedule of power cuts reintroduced

Business in Nigeria

The Changing Face Of Business In Nigeria |

Ask most people what they think of Nigeria and the answer will likely include references to oil, population and corruption. Perhaps now Boko Haram. And yet there is a flux of young Nigerians, like me, returning home – excited by the opportunity. Why? A quick look at the statistics goes some way to explaining. According

Nigerians queue to buy fuel at Mobil filling station in Abuja

Oil Crunch, Islamist War, Power Cuts Face New Nigeria Leader – Bloomberg Business|

Crippling fuel shortages, power cuts, slowing economic growth and Islamist militants wreaking havoc. Muhammadu Buhari is taking on a tough job when he’s sworn in as Nigeria’s president on Friday. Former military ruler Buhari, 72, swept incumbent Goodluck Jonathan from office in March elections by pledging to end endemic corruption and