Nigeria’s e-Naira Digital Currency Push Stalls With $10 Million In Transactions

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.

The NFL Touches Down In Africa With $25 Billion Revenue Plans

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.

African Startups Raise A Record $7.4 Billion In Investments

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.

UPS Doubles Down On The African Market With Jumia Partnership In $180 Billion Market

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.

UPS Doubles Down On The African Market With Jumia Partnership In $180 Billion Market

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

African Economists Sound Alarm On $4 Billion Russia-Ukraine War Trade Impact

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

African Economists Sound Alarm On $4 Billion Russia-Ukraine War Trade Impact

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

MVP Wrist Game: Michael Jordan And Giannis Antetokounmpo Invest In WatchBox At $1 Billion Valuation

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

Let’s Get ‘Chipper’ Cash With Africa’s $100 Million Most Valuable Fintech Startup

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