Africa: Nigeria Retains Leadership of Africa’s Mobile Phone Market

Lagos — Nigeria has remained Africa’s largest smartphone market in Q2 2019 followed by South Africa and Egypt, the latest figures by International Data Corporation (IDC) has revealed. Nigeria and South Africa saw smartphone shipments increase 3.6 per cent and 0.2 per cent respectively, while Egypt had 18.0 per cent quarter-on-quarter (QoQ) growth after theContinue reading “Africa: Nigeria Retains Leadership of Africa’s Mobile Phone Market”

Africa Mobile Money Market Forecast to 2024 with Profiles on Key Players: MTN, Orange, M-Pesa, Tigo-Pesa, and Airtel Money

Dublin, Aug. 26, 2019 (GLOBE NEWSWIRE) — The “Africa Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added toResearchAndMarkets.com’s offering. The Africa mobile money market reached a transaction value of US$ 200.5 Billion in 2018. Looking forward, the market is projected to reach a transaction value of US$ 1,011.3 Billion byContinue reading “Africa Mobile Money Market Forecast to 2024 with Profiles on Key Players: MTN, Orange, M-Pesa, Tigo-Pesa, and Airtel Money”

Nigerian fintech startups PiggyVest and Cowrywise are scaling up to become digital banks

Earlier today, users of Nigerian online savings and investment platform PiggyVest received emails introducing them to “NUBAN Account Numbers for PiggyVest”. The new feature allows users to fund their PiggyFlex accounts via a dedicated bank account number from Providus Bank. The PiggyFlex Account, launched in June 2018, is a sub-account where all interests earned on PiggyVestContinue reading “Nigerian fintech startups PiggyVest and Cowrywise are scaling up to become digital banks”

How Jumia claimed Africa

Jumia, Africa’s largest online retailer, was founded in 2012 by Sacha Poignonnec and Jeremy Hodara, who were both former employees of the American worldwide management consulting firm, McKinsey & Company. Jumia offers customers the ability to buy products online, like phones and shoes, as well as groceries, flights, food delivery, and offers bill paying and cellularContinue reading “How Jumia claimed Africa”

Sudan trades in precious gold for cash

Gold business in Sudan seems to be booming as more people exchange the precious metal for cash as the country’s economic crisis shows no sign of slowing down. Many Sudanese save their money in form of gold. Due to protests and the tensions in the country since President Omar al-Bashir was ousted, more people areContinue reading “Sudan trades in precious gold for cash”

Norrsken opens East Africa startup fund and hub in Kigali

Startups in East Africa have a new source for investment and mentorship. Sweden’s Norrsken Foundation — a co-working space and investment fund based in Stockholm — opened its tech fund and entrepreneurship hub in Rwanda today to support ventures across the region. Norrsken’s Kigali center is located on the former École Belge campusand will begin with seedContinue reading “Norrsken opens East Africa startup fund and hub in Kigali”

Middle East & Africa lightning arrester market is projected to grow from $ 110 million in 2018 to $ 138 million by 2024

Middle East & Africa lightning arrester market is projected to grow from $ 110 million in 2018 to $ 138 million by 2024, exhibiting a CAGR of over 4% during 2019-2024, owing to increasing investments in smart grids and energy systems.Moreover, aging power infrastructure, technological advancements and rapid industrialization in MEA countries are expected to positively impact growth of the region’s lightningContinue reading “Middle East & Africa lightning arrester market is projected to grow from $ 110 million in 2018 to $ 138 million by 2024”

Africa-Wide Free-Trade Zone Launched, With Potential $2.5tn Market

The largest free-trade in the world, spanning the African continent with its 1.2 billion people, has come into effect, aiming to eradicate tariffs and create single market for a potential market worth $2.5 trillion. The African Continental Free Trade Agreement (AfCFTA) comes into effect on 30 May 2019, having been signed by 52 of theContinue reading “Africa-Wide Free-Trade Zone Launched, With Potential $2.5tn Market”

What Is The Richest Country In Africa?

Trade, agriculture, human resources, and industry are the major components of the African economy. As of 2012, Africa housed 1.07 billion people in the 54 countries of the continent. Though the country is rich in resources, the people of the country have been exploited for decades and are poverty stricken. It is expected that theContinue reading “What Is The Richest Country In Africa?”

Why Africa’s biggest telecoms company is listing on the Nigerian Stock Exchange

(CNN)Africa’s leading telecoms group MTN has listed on the Nigerian Stock Exchange (NSE) in a move that could pave the way for the sale of shares to investors in its biggest market. MTN, which has its primary listing on the Johannesburg stock exchange, won’t be issuing new shares or raising funds in Nigeria at this stage. ButContinue reading “Why Africa’s biggest telecoms company is listing on the Nigerian Stock Exchange”