Editor’s note

Consumer spending in Africa is expected to roughly double by 2020 and give rise to a nascent middle class.Morocco,Ghana,Tunisia,Nigeria,Ivory Coast,Mozambique,Kenya ,Rwanda should among the economies experiencing such a trend.

In some other news ,Nigeria is thinking about the establishement of a sovereign wealth fund.

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Post tags: africa middle class, Nigeria, Rwanda, Sovereign wealth fund

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Nigeria’s economy is forecast to climb to about $400 billion by 2016 from $268 billion this year( 2011).Nigeria’s economic boom may push the market value of the equity index to $1 trillion in five years time from $74 billion( 2011).Source |Business Week |

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Post tags: Economic growth, End of Poverty, Growth market, Leader, Nigeria

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When:29-31 October 2010

Where:Nairobi,Kenya

What: IPO48 is a boot-camp-style initiative to build new web and mobile services in just 48 hours.

IPO48 starts already 10 days before the actual get-together in Nairobi. Everybody can submit business ideas on HumanIPO, that way all participants can learn and evaluate ideas, ask questions, give their comments and find the potential ideas they would like to work on. On 26th of October we will announce 20 most popular business plans, which will be presented by the authors on Friday evening in IPO48.

IPO48 will peak with the new product demonstration on Sunday evening where the judges will pick the winner of the event. Besides of having strong technological solution for the product/service, the winning team needs to highly focus on their business model.

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Post tags: Africa, business, Economic trends, Initial public offering, Kenya, Nairobi, Small business

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Nigeria bans sale of unregistered Sim Cards [Story]

Zain Kenya, now owned by Bharti Airtel, is set to roll out 3G services in Kenya after it was granted a vlicence by the Communications Commission of Kenya (CCK). [Story]

TedXAbuja & TedXVictoriaIsland [Story]

Jobberman has just announced the release of their mobile version which allows jobseekers to get real-time information about the latest jobs in town right from their mobile phones. [Story]

Adlevo Capital announced its first closing of a $52 million capital commitment focused on technology-enabled businesses across sub-Saharan Africa, particularly in Nigeria and South Africa. [Story]

Gmail is available in Swahili and Amharic, adapting to over 100 million speakers located in East and Central Africa, and in the Diaspora.[Story]

Africa’s collective GDP, at $1.6 trillion in 2008, is now roughly equal to Brazil’s or Russia’s. [Story]

Zoopy the South African social media platform has created a new iPhone application. [Story]

New regional air carrier, doing what Africa needswhich is point-to-point services.[Story]

Cresta Marakanelo, Botswana’s largest hotel operator, is on track for a June 17 listing on the Botswana Stock Exchange (BSE) judging by enthusiastic public response to the sale of 62,9 million shares in the company by Botswana Development Corporation (BDC).[Story]

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Post tags: Africa, Bharti Airtel, Botswana, Botswana Stock Exchange, Central Africa, Communications Commission of Kenya, Cresta Marakanelo, Kenya, Mobile phone, Nigeria, South Africa, Sub-Saharan Africa

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• Uba Foundation donates to Biafra war victims, lepers (vanguardngr.com)

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Post tags: Africa, Banking Services, Banks and Institutions, business, Financial Services, United Bank for Africa

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Lagos Stock Exchange .

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Post tags: Business and Economy, Financial Services, Investing, Stock Exchange, Stocks and Bonds

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iHub First Look – Nairobi’s Tech Innovation Hub from Ushahidi on Vimeo.

The iHub is:

A free of charge redundant 10Mbs connection( hardwired and WiFi).

-Membership base ,the fee,  is that you have to be  indeed involved in the tech space as a programmer, web designer or mobile application developer.

-Fresh design and an atmosphere that is conducive to techies getting cool stuff done.

-Access to the entrepreneurs and startups who need space to meet with VCs, seed funders and local businesses.

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Post tags: Mobile, Nairobi, Programmer, Ushahidi, Vimeo, Web design, Wi-Fi

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Date: Monday 2nd November 2009

Venue: London Stock Exchange

Financial Times Global Events, in partnership with This is Africa magazine and the Emerging Markets Private Equity Association (EMPEA) are pleased to present ‘Private Equity in Africa’, a one-day executive summit designed to support private equity limited partners (LPs) in their efforts to better assess the opportunities presented by private equity in Africa.

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Post tags: Africa, business, Business and Economy, Emerging markets, Financial Services, Financial Times, London Stock Exchange, Private equity, Venture capital

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In Kenya, the assets comprise four state-of-the-art cineplexes, with a total of eighteen luxury theatres and two media stores selling the latest books, music, Apple computing and filmed entertainment products. In Ghana, Silverbird has established the country’s first ever cineplex of five theatres fully equipped to international standards, with Dolby digital surround sound and contiguous with a media store.

In addition to Silverbird’s extensive Nigerian entertainment asset in Lagos, Abuja, Uyo, Port Harcourt, Jos, Owerri, Awka and Yenagoa, the Silverbird Group, with this investment, is now positioned as one the largest entertainment conglomerates in Africa. Silverbird Group has launched its media stores in Lagos and Abuja and has taken over the Nu Metro Cinema at Ceddi Plaza, Abuja.

In 2009, Silverbird will launch a further 12 screens planned for Abuja at its flagship entertainment centre. These latest developments will support Silverbird’s aspiration for market dominance in this field in Africa.

The group’s Executive Chairman, Mr. BEN MURRAY-BRUCE said, “Silverbird’s recent offshore acquisitions and expansion were made possible by forward-looking partnerships with businesses and individuals in South Africa, Zambia, and Ghana, allied with two of Nigeria’s finest financial institutions, Union Bank Plc, and FCMB Plc.”

This collaboration will enable Silverbird to improve the delivery of quality entertainment in Africa.

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Post tags: Abuja, Accra Mall, Africa, Business and Economy, Ghana, Lagos, Nigeria, Siverbird Group, Union Bank

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Citadel Capital is the largest private equity investor in Africa and the seventy-fifth largest globally, according to Private Equity International’s PEI 300, an annual ranking of the largest international private equity firms based on funds raised in the previous five years.

In the same period, the firm has generated US$ 2.2 billion in cash returns to investors, more than any other private equity firm in the MENA region.

Current Investments

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[Omegascorpi]

• Actis Appoints New Head of West Africa Operations (omegascorpi.com)
• Stock Trading Goes Mobile in Kenya (omegascorpi.com)
• Imara (omegascorpi.com)

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Post tags: Actis, Africa, business, Financial Services, Investing, Kenya, Private equity firm, Venture capital

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