General

The long view for Africa

While many question Africa’s achievement over the last decade, there is a greater perspective needed to show how far Africa has just come.

Certainly, Africa is not monolithic –   it’s 54 Africas –   but just if you count up the GDP figures for the whole continent, it averages 5 % growth per year over that period, according to the world bank –   a strong long term position that is well above the global average of 3 % over the last decade..

Since 2000, Africa has also seen a 200 % increase in intra-continental trade and trade with the rest of the world. Fast forward, Africa continues to house some of the world’s fastest growing economies and despite the recent collapse in commodity prices, private equity investment grew by 51 % last year.

At least a dozen economies have grown by more than 6 % per year for six years or more.

Source: AI, May 2016

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General

African startups need foreign investment – booming middle class

Nigeria’s population will be over 440m by 2050

Historically, fast growing African tech companies needing an immediate capital injection would have to reach out to foreign investors for this funding.

The need for investment, whether foreign or domestic, is crucial to both established an startup technology companies in Africa.

As most companies are unprofitable for a couple of years, capital is required to disrupt the current status.

Positive trends

The changing demographics in most African countries are helping consumer focused technology companies to reach better sales figures. A perfect storm of increasing smartphones penetration, improving disposable income and the rise of a highly connected younger generation is boosting this sector

Positive trends

There are almost 1bn Africans on the continent; millions are coming online each week, almost via the mobile, which is what’s driving demand. Soon, there will be more than 400m smartphones on the continent. The mobile is the most powerful communications and technology tool on the continent.

It is no surprise that many successful tech startups are based in Nigeria, Based on current projections, Nigeria’s population is forecast to grow to over 440m by 2050 and see a rapidly increasing middle-class population, with commerce spending in the country on track to total $8bn by 2025-

One thing is for sure – this is only the beginning of Africa’s tech boom.

Source: African Business, May 2015

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Nigeria

First Bank of Nigeria

First Bank of Nigeria, die manchmal einfach auch als Firstbank bezeichnet wird, ist ein nigerianisches multinationales Bank- und Finanzdienstleistungsunternehmen. Es ist die größte Bank des Landes allein durch seine Vermögenswerte, die Ende des Jahrs 2014 sich auf c.a. 23.4 Mrd. USD belaufen.

Der Gewinn der Bank vor Steuern, zum Jahresabschluß am 31. Dezember 2014 betrug ca. 486.5 Mio. USD. Zu diesem Zeitpunkt unterhielt die Bank eine Kundenbasis von mehr als 10 Millionen Privatpersonen und Unternehmen. Die Firstbank erhält solide Kurz- und Langfrist-Ratings von der Rating Agentur Fitch, zum Teil aufgrund seiner geringen Exposition gegenüber notleidenden Kredite. Die Bank hält sich streng an finanzielle Gesetze und genießt ein großes Vertrauen gegenüber der nigeranischen EFCC (Strafverfolgungsbehörde gegen Wirtschafts- und Finanzverbrechen).

www.firstbanknigeria.com

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Nigeria

Newspaper “THISDAY”

THISDAY is a national newspaper in Nigeria. THISDAY is published by Thisday Newspapers Limited and was first published on 22 January 1995. It has its headquarters in Apapa, Lagos, Lagos State.

It has a circulation of more than 100,000 copies and an annual turnover of some $35 million (US). It has three printing plants, in Lagos, Abuja and in the Niger Delta. The publisher was noted for his early investment in full colour printing. THISDAY remains the preferred newspaper among the business, political and diplomatic elite in Nigeria. Respected journalist Olusegun Adeniyi is the current chairman of the editorial board.

www.thisdaylive.com

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Nigeria

Additional 10 000 megawatt by 2019 in Nigeria

President Muhammadu Buhari said on Monday that his administration would ensure steady power supply before the expiration of his tenure through the provision of additional 10,000 megawatts.

The President gave the assurance at the National Economic Council Retreat holding at the Presidential Banquet Hall, Abuja.

According to him, 2,000 of the anticipated 10,000 megawatts will be added to the national grid in 2016.

“Nigerians’ favourite talking point and butt of jokes is the power situation in our country. But, it is no longer a laughing matter.

“We must and by the grace of God we will put things right.

“In the three years left for this administration we have givenourselves the target of 10,000 megawatts distributable power.

“In 2016 alone, we intend to add 2,000 megawatts to the national grid.

“In our determination to change we must and will, Insha Allah, put a stop to power shortages.’’

The President, who stated that the nation was facing the classic dilemma of privatisation of the power sector, noted that no remarkable improvement in the quality of service had been recorded after the exercise.

He, however, stated that the National Electricity Regulatory Commission (NERC) must ensure that consumers get value for money and over-all public interest is safe-guarded as government will complete the process of the privatisation.

Source: Daily Post, Mach 22, 2016

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Investments in Africa