Market report

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 the market shrunk considerably in Q1 2019 due to the introduction … Continue reading Africa: Nigeria Retains Leadership of Africa’s Mobile Phone Market

Business

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 by 2024, growing at a CAGR of around 30% during 2019-2024. … Continue reading Africa Mobile Money Market Forecast to 2024 with Profiles on Key Players: MTN, Orange, M-Pesa, Tigo-Pesa, and Airtel Money

African Startups

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 PiggyVest are paid to users. According to the mail, users can … Continue 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 cellular data plans. The company sought to build an online shopping … Continue 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 are selling off their gold savings for cash to survive. “People … Continue 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 seed investments of $25,000 to $100,000 for early-stage startups in all … Continue reading Norrsken opens East Africa startup fund and hub in Kigali

Market report

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 lightning arrester market in coming years.  Lightning arrester is used for … Continue reading Middle East & Africa lightning arrester market is projected to grow from $ 110 million in 2018 to $ 138 million by 2024