Year 1 | Edition 1 | 13 January 2022

UK and S/Africa jointly account for 65% of Nigeria’s capital inflow in 9-months 2021

The United Kingdom and South Africa led the list of source countries for Nigeria's capital inflows between January and September 2021, jointly accounting for 64,9% of the total capital importation recorded by Nigeria in the review period...

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BNPL startup Lipa Later secures $12m funding to expand across Africa

Lipa Later, one of it’s kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a consortium of investors.

The funding, which is  a mix of equity and debt, will help Lipa Later expand within its current markets (Kenya, Uganda, Rwanda) and into new markets such as Nigeria, Ghana and Tanzania...

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[Nigeria] Last-mile delivery startup Kwik reaches 100,000 customers

Nigeria's last-mile delivery startup Kwik Delivery, trading name of Africa Delivery Technologies SAS, announced today that its GMV and revenue for 2021 grew by over 400% year on year.

The startup also announced that the platform reached 100,000 B2B users...

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Pantami, Aregbesola set to commission digital Nigeria project in Osun

In order to give concrete expression to the underlining principles and fundamental philosophy of the emergent digital culture in Nigeria, particularly Item No. 2 of the eight pillars of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030, the Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami and his counterpart in the Ministry of Interior, Ogbeni Rauf Aregbesola, will commission a Digital Nigeria Centre (DNC) project in Osun State on January 14, 2022...

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Nigeria finally lifts Twitter ban after 7 months

Nigeria “indefinitely suspended” Twitter‘s operations in the country on June 4 last year after the company deleted President Buhari’s controversial tweet. 

The country accused Twitter of using its micro-blogging platform for activities that are capable of undermining Nigeria’s corporate existence. Seven months later, the country has now lifted the Twitter ban...

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[Nigeria Business Week] Andrea Ayemoba: Nigeria sets course to unify industry benefits, lead Africa's 5G

Following a turbulent year of stock market fluctuations, restrictions related to an ongoing pandemic and varying economic instabilities, predictions on Nigeria’s performance last year ranged from inferior to mediocre to excellent. Covid-19 limitations caused a dip in SME’s contributions to GDP and capital importations rose 97% as of Q3 2021.

Growth trends could be observed in industries like Agritech, Startups, ICT and Banking, while others like Insurance, Manufacturing and Energy maintain a work-in-progress status...

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'Our model is to ensure that Africans in Africa and in diaspora get to own their dream home - Abioye Oke

Nigerian entrepreneur, Abioye Oke founded Lifestyle Asset Hub in April, 2018. Currently registered for operations in Nigeria, Ghana and Rwanda, Abioye’s company provides state-of-the-art housing solutions in the African real estate sector.

Please tell us, what does your company do?

Lifestyle Asset Hub is a pan-African housing solution company with the unique mandate of making luxurious homes affordable and accessible to all Africans. Our strategy is to help individuals achieve their dreams of owning dream...

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4 top Nigerian business magnates and how they made their wealth

Nigeria is one of the most talked-about countries on the globe when it comes to wealthy businessmen. It is the largest black nation and one of the largest producers of oil globally. No doubt, its footprint across Africa cannot be underestimated.

Economically, Nigeria has a strong financial grounding and remains one of the main players on the continent. An International Monetary Fund review of the richest countries in Africa per Gross Domestic Product in 2021 shows that...

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'Agribusiness and Fintech are a winning combination' - Samirah Ade-Adebiyi, AFEX Investment

Samirah Ade-Adebiyi is the Managing Director at AFEX Investment, an organization dedicated to mobilizing farmers and agriculturists to a point of higher productivity and efficiency.

Could you introduce AFEX and tell us something about its function in the Nigerian market?

Africa is fundamentally driven by agriculture, accounting for 15% of the continent’s GDP, with 80% of farming being smallholder and subsistence. Within this context, AFEX is building the physical and technology-enabled infrastructure for the continent’s commodity sector to provide access to...

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Editors: Nixon KanaliBob KoigiAndrea AyemobaPie Kamau

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