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News and information curated daily for a global audience interested in Africa.

Africa Makes a Scene: Best Contemporary Art Fairs of 2020

Contemporary African art is hot, and the opportunities to experience it have never been better. From art fairs to other cultural happenings, the list of events in 2020 is rich and diverse. Check out the must-sees on this year’s calendar. SOURCE: AL JAZEERA

These Are the Nigerian English Words Added to the Oxford Dictionary

The latest edition of the Oxford English Dictionary has a distinctly African flavor thanks to the incorporation of a number of new phrasings unique to Nigerian English. In recognition of the number of speakers and the fact that these colloquialisms have been in use for decades, the dictionary chose to include 29 new entries, such …

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How to Better Support Fragile African States Facing Huge Financing Needs

The African Development Bank has been a major investor in infrastructure development in the electricity, transport, and water sectors across Africa. Cumulative Bank funding for infrastructure on the continent rose by 22% from $66.9 billion in 2016 to $81.6 billion in 2017. During the same period, the value of infrastructure projects with private sector participation …

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Nigerian Payments Company Acquires Silicon Valley Firm

Nigerian fintech company, Paga has completed the acquisition of Apposit, a San Francisco-based company that specialises in building software for businesses in Africa, for an undisclosed sum. The acquisition of Apposit also means Paga now has a presence in Ethiopia where the former is based. Ethiopia, with a population of 105 million people, is said …

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African Fintech Flutterwave gets $35m, Partners with WorldPay

Africa-focused fintech firm Flutterwave announced a $35 million fundraising round and partnerships with WorldPay and Visa as it targets expansion in northern and Francophone Africa. Flutterwave connects the African continent to the world by providing the easiest and most reliable payment solutions for businesses around the globe. To date, Flutterwave has processed 100 million transactions …

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Africa’s Off-grid Solar Market Expected to Grow Rapidly

UK investors could seize a $24bn investment opportunity by helping to connect millions of people without access to electricity to off-grid home solar power systems. The market for pay-as-you-go home solar packages is expected to boom in Africa, where millions of homes are using mobile technology to rent low-cost solar panels. UK companies have played …

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South Africa’s Naspers Ltd Sells $1 bn Worth of Shares in Prosus

Last year, Naspers spun off Prosus along with its most valuable asset – a 30% stake in Chinese internet giant Tencent. The e-commerce group sold about 22 million Prosus shares, priced at 67.5 euros per share, on Tuesday via an accelerated bookbuild to institutional investors. This increased Prosus’ free float to 27.5% from 26.2%, and …

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Focusing on Female Entrepreneurship in 2020

There are currently over 640 active technology hubs across the continent, and, according to Disrupt Africa, startups raised almost US$500 million in funding in 2019 – year-on-year growth of almost 50 percent. Topping the list are fintech startups, who raised $107.4 million in 2019 – enjoying 25 percent of all funding. Despite this momentum, however, …

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How Disruptive Technologies can Transform Africa

A Brookings Institution study notes that the region had nearly half of global mobile money accounts in 2018 and will see the fastest growth in mobile money through 2025. Mobile technologies and services have generated 1.7 million direct jobs, contributed to $144 billion of economic value and contributed $15.6 billion to the public sector through …

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