Nigeria’s Central Bank Digital Currency(CBDC), the e-Naira, is yet to have recurring users, almost a year since it was launched. With nearly $10 million worth of transactions, the Central Bank of Nigeria (CBN) believes it has scored some wins. The problem lies with the fact the country has a population of about 200 million people, and around 40% of the population doesn’t have a bank account.
By Jonathan Ntege Lubwama The NFL is looking for ways to strengthen the pipeline of international in Africa players and appeal to a broader audience to reach its goal of $25B in revenue by 2027 At least 100 NFL players are of African descent (born in Africa or first generation) Football, one of the most
Football, one of the most popular sports in the U.S. has finally started activities to expand its popularity to Africa. The National Football League (NFL) is looking for ways to strengthen the pipeline of international players and appeal to a broader audience to reach its goal of $25 billion in revenue by 2027. In effort to get there, the league held a talent identification camp, fan event and a flag football clinic in Ghana during a week dubbed NFL Africa:The Touchdown.
By Jonathan Ntege Lubwama Private capital investors pumped $7.4B into African companies in a vote of confidence for the continent Tech companies enjoyed the lion’s share of the investment at 81%, which shows the growing importance of this sector to the continent A record $7.4 billion of private capital investments flew into Africa in 2021,
A record $7.4 billion of private capital investments flew into Africa in 2021, more than double the $3.4 billion received in 2020 and $2.6 billion higher than the previous record in 2017. High net worth individuals like Amazon (AMZN +0.35%) founder Jeff Bezos, Tinder founder Justin Mateen and Twitter (TWTR -0.76%) founder Jack Dorsey all made investments in African companies, while Asian heavyweights like SoftBank and Tencent Holdings up their stakes in African startups as well.
By Jonathan Ntege Lubwama
– UPS enters partnership with African e-commerce giant Jumia to leverage the 3,000 delivery and pick up points across the continent
– Digital trade will add $180 billion to Africa’s economy by 2025 A U.S. delivery company is expanding its African footprint, United Parcel Service (UPS -0.54%) announced a partnership with e-commerce giant Jumia (JMIA -4.19%) to increase its reach across the continent. UPS will take advantage of the 3,000 drop-off and pick-up points that Jumia has built across its markets in Africa, to ensure its users get their packages directly delivered to their front door. Digital trade will add $180 billion to Africa’s economy by 2025 according to UNDP, and such partnerships could become a significant part of Jumia’s strategy as more global companies look to make inroads into the continent.
By Jonathan Ntege Lubwama UPS enters partnership with African e-commerce giant Jumia to leverage the 3,000 delivery and pick up points across the continent Digital trade will add $180 billion to Africa’s economy by 2025 A U.S. delivery company is expanding its African footprint, United Parcel Service (UPS -0.54%) announced a partnership with e-commerce giant
By Jonathan Ntege Lubwama Bilateral trade between Russia and Europe is estimated to be $20B annually with Africa The invasion of Ukraine could pose hardships for African households, the agricultural sector, and food security Despite the geographical distance, there are important ties between Ukraine and Africa, including more than 8,000 Moroccans and 4,000 Nigerians studying
By Jonathan Ntege Lubwama Bilateral trade between Russia and Europe is estimated to be $20B annually with Africa The invasion of Ukraine could pose hardships for African households, the agricultural sector, and food security Despite the geographical distance, there are important ties between Ukraine and Africa, including more than 8,000 Moroccans and 4,000 Nigerians studying
By Jonathan Ntege Lubwama HYPHEN Hydrogen Energy to construct a $9.4B hydrogen power project in Namibia Namibia wants to position itself as a key player in the global renewable energy market that’s expected to reach $1.9T by 2030 Africa’s new hydrogen super power country could be none other than the tiny nation of Namibia. The
By Jonathan Ntege Lubwama HYPHEN Hydrogen Energy to construct a $9.4B hydrogen power project in Namibia Namibia wants to position itself as a key player in the global renewable energy market that’s expected to reach $1.9T by 2030 Africa’s new hydrogen super power country could be none other than the tiny nation of Namibia. The
By Jonathan Ntege Lubwama WatchBox raised $165M at a valuation close to $1B with investors including Michael Jordan and Giannis Antetokounmpo Pre-owned watch sales could soar to $32 billion by 2025 WatchBox, a marketplace for watches, has raised a new funding round of $165 million at a valuation close to $1 billion. The Philadelphia-based company
By Jonathan Ntege Lubwama Zambia’s China debt is $6.6B, significantly higher than the $3.4B originally stated by the government Beijing has an Evergrande debt problem in its own backyard China is Africa’s largest creditor and Zambia is indebted to the country for $6.6 billion. A report by the China Africa Initiative revealed this number is
By Jonathan Ntege Lubwama Zambia’s China debt is $6.6B, significantly higher than the $3.4B originally stated by the government Beijing has an Evergrande debt problem in its own backyard China is Africa’s largest creditor and Zambia is indebted to the country for $6.6 billion. A report by the China Africa Initiative revealed this number is
By Jonathan Ntege Lubwama Egyptian founders raised $190M in 2020 There are 2 startup unicorns in Egypt, SWVL and Fawry Egypt is one of the most populous countries in North Africa and boasts one of the most advanced startup ecosystems in the region. Founders in the country raised $190 million in 2020, with the majority
By Jonathan Ntege Lubwama Egyptian founders raised $190M in 2020 There are 2 startup unicorns in Egypt, SWVL and Fawry Egypt is one of the most populous countries in North Africa and boasts of one of the most advanced startup ecosystems in the region. Founders in the country raised $190 million in 2020, with the
By Jonathan Ntege Lubwama Chipper Cash raised $100M to become Africa’s fifth unicorn More than 60% of people in Africa are under 25 years old and unbanked Chipper Cash, a startup that facilitates cross border payments in Africa, has managed to raise a cool $152.2 million across 5 rounds of financing within three years according
By Jonathan Ntege Lubwama Chipper Cash raised $100M to become Africa’s fifth unicorn More than 60% of people in Africa are under 25 years old and unbanked Chipper Cash, a startup that facilitates cross border payments in Africa, has managed to raise a cool $152.2 million across 5 rounds of financing within three years according
