Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.
Nigeria
Nigeria's 'megachurches': a hidden pillar of Africa's top economy
When a guesthouse belonging to one of Nigeria's leading Christian pastors collapsed last month, killing 115 mostly South African pilgrims, attention focused on the multimillion-dollar "megachurches" that form a huge, untaxed sector of Africa's top economy.
British national contracts Ebola in Sierra Leone
A British national living in Sierra Leone has tested positive for Ebola, the first Briton to fall victim to the deadly disease that has spread across the West African region since March, the Department of Health said on Saturday.
GE to invest $2 billion to boost African energy, infrastructure
General Electric Co (GE.N) on Monday pledged to invest $2 billion in Africa by 2018 to boost infrastructure, worker skills and access to energy, an announcement timed to coincide with a U.S. summit meeting of nearly 50 African leaders.
Digital warriors battle to get African games on phones
Safari the warrior crouches in the bush - a digitized heroine from the new mobile phone game "Afro Fighters" that its Nigerian creator hopes will soon rival the likes of Clash of Clans or Angry Birds on the world's handsets.
Latest News
Novare Equity Partners opens its second urban real estate investment leg, Novare Africa Poperty Fund II, with $250 million focusing on African countries, specifically Nigeria - where it operates.
Nigeria-based mobile security startup i.Sec nabbed $10 million in a funding round from private equity group Synergy Capital to prepare for its public launch this May and for other undisclosed purposes.
Africa is already in the radar of large American technology corporations and venture capitalists as IBM, Microsoft and Intel Capital make bets on startups in the continent, TechCrunch reported.
For the past 18 months, small and medium enterprises (SMEs) in Africa bagged $10 million in investment from London, UK-based non-profit business development organization African Private Equity & Venture Capital Association (AVCA).
US tech giant Microsoft selected five African tech startups to receive innovation grants, technical support, and mentorship from Microsoft under its venture arm extension, the Microsoft 4Afrika Initiative.
Nigeria-based energy firm Oando Plc said it closed $1.63 billion to purchase the assets of US-based firm ConocoPhillips in the country, in a bid to become the top producer for the biggest oil exporter of Africa.
Dangote Industries Ltd, Alhaji Aliko Danagote's holding company, has up till October 26 to sell down or dilute its stake in cement manufacturer Dangote Cement PLC. The reduction in shareholding will enable the cement company to comply with flotation regulations in Nigeria's bourse.
Aliko Dangote, Africa's richest man with about $22 billion net worth, is set to spend $9 billion to build the largest privately-owned oil refinery in Nigeria.
A survey from Jana, a mobile platform that connects brands with consumers in the emerging markets, revealed that a good number of respondents from Asian countries know about the Bitcoin.
