News & Advice

Samsung Pay Comes to Africa, Launching In South Africa

Source: Forbes

  • The mobile payment from the world’s largest smartphone maker, has launched in South Africa
  • Samsung has partnered with two of South Africa’s big banks, Absa and Standard Bank through MasterCard and Visa cards
  • Because of the country’s mobile-first nature, acceptance of Samsung Pay at launch in South Africa is much better than 2015 in the US when it launched

Beer Giants Tap Into Africa With Brews Under $1

Source: Wall Street Journal

  • Drinkers in Europe & US turning away from beer in favor of spirits & non-alcoholic drinks, Africa becoming important to brewers
  • In the world’s poorest continent and fastest-growing beer market, global brewers are being forced to reinvent themselves
  • Still, the African market remains unpredictable for multinational companies hoping to build a long-lasting business

Disney Developing African Princess Fairytale Movie "Sade"

Source: Variety

  • Disney developing live-action fairytale film “Sadé,” centered on an African princess
  • Disney saw massive success this year with “Black Panther, grossed $1.35 billion
  • The studio bought a pitch from Ola Shokunbi and Lindsey Reed Palmer, who will co-write the screenplay about a young African girl named Sadé

Kofi Annan, A Leader of Leaders Dies at 80

Source: CNN

  • First black African to lead the UN passes away at 80
  • Jointly awarded a Nobel Peace Prize with the UN in 2001 for his efforts; brokered truce in the bloody aftermath of the Kenyan election violence in 2007
  • Annan was widely recognized as one who advanced the African agenda greatly during his tenure at the United Nations

Uber to push further into East Africa with services like Chap Chap

Source: Reuters

  • Nairobi was the first city in Africa in which Uber piloted a low-cost, quick-trip option Chap Chap, using 300 small brand-new Suzuki Altos
  • There are now more than 400 Chap Chaps, which means “faster” in Kiswahil
  • “We are focusing hard on Chap Chaps,” Uber’s East Africa general manager Loic Amado said in an interview, calling the service “a tremendous success so far”

NBA commissioner Adam Silver announces plans for Pan-African league

Source: ESPN

  • League is putting plans in place to launch a tournament across the African continent

Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself

Source: TechCrunch

  • Paystack payment API integrates with tens of thousands of businesses
  • In two years it has grown to process 15 percent of all online payments
  • Paystack was  first startup from Nigeria to enter Y Combinator

Twitter Appoints Nigerian ex-minister of Finance Ngozi Okonjo-Iweala to Board

Source: CNN

  • Twitter has named Nigeria’s former finance minister, Dr. Ngozi Okonjo-Iweala to its board.
  • Twitter & other tech giants faced criticism for lack of diversity on boards
  • Okonjo-Iweala welcomed the appointment and said she looked forward to leveraging the platform to drive conversations on global issues.

How the Diaspora Influenced 2017 African Elections

Source: Al Jazeera

  • Through twitter, Africans in diaspora influenced African elections debate
  • 54% of key non-domestic voices were from outside of Africa
  • UK, USA, France were home to most influential voices from outside Africa

Universal Music Group Launches in Nigeria

Source: Variety

  • The world’s largest music company opening an office within the region is a huge statement of belief in our local music talent
  • Universal announced expansion into West Africa with launch of Universal Music Nigeria
  • Supporting artist throughout continent utilizing Universal Music Group’s global networks for discovery, marketing, promotion & distribution

Ivorian, Tidjane Thiam, CEO Credit Suisse named Euromoney Banker of the Year

Source: Euromoney

  • Euromoney Banker of Year award went to Ivorian Tidjane Thiam, CEO Credit Suisse
  • Received award for overhaul of the bank’s strategy and its return to profitability during the past three years.
  • “Thiam saw what some insiders could not or did not want to. Raising capital was essential”

African “Mona-Lisa” masterpiece sells for $1.6M

Source: CNN

  • Famous Nigerian painting missing for over 40 years turns up in London apartment
  • Painting depicted Princess of Ife Adetutu Ademiluyi; artist created two other pieces of her that are still missing
  • London auction house, Bonham, initially predicted a price tag of between $275,000 – $413,000 – less than a quarter of the final bid price
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