Browsing: Nigeria

• The collaboration seeks to play a significant role in closing the tech skills gap in Africa, fostering job creation, entrepreneurship, and empowering the continent’s youth with in-demand digital skills.
• Through the partnership, Microsoft and Gebeya aim to upskill 300,000 developers across eight countries over the next three years.
• They include Kenya, South Africa, Ethiopia, Democratic Republic of Congo, Lesotho, Nigeria, Egypt and Mozambique.

Microsoft and Gebeya Inc., the leading Pan-African SaaS-enabled tech talent marketplace, have partnered  to launch a new skills and jobs matching platform called Microsoft.Gebeya.com.

The collaboration seeks to play a significant role in closing the tech skills gap in Africa, fostering job creation, entrepreneurship, and empowering the continent’s youth with in-demand digital skills.

Through the partnership, Microsoft and Gebeya aim to upskill 300,000 developers across eight countries over the next three years, including Kenya, South Africa, Ethiopia, Democratic Republic of Congo, Lesotho, Nigeria, Egypt and Mozambique.

Applications …

• In a significant move by Moody’s Investors Service, Nigeria’s credit rating has been upgraded from stable to positive.
• The devaluation of the Naira and the reduction of the oil subsidy are seen as bold steps towards fiscal responsibility. 
• The recent devaluation of the Naira, a significant move by President Bola Tinubu’s administration, carries profound implications for Nigeria’s credit rating.

In a significant move by Moody’s Investors Service, Nigeria’s credit rating has been upgraded from stable to positive. This shift, while not altering the country’s credit rating, marks a potential turning point for the nation’s fiscal and economic health. The December 9th upgrade reflects the Nigerian government’s concerted efforts to stabilize its economy, spearheaded by President Bola Tinubu, amid a complex tapestry of challenges and reforms.

Credit ratings, as determined by agencies like Moody’s, are pivotal in the global economic landscape. They are a barometer for a nation’s creditworthiness, impacting …

• This initial batch is designed to sustain the facility’s ambitious goal of processing 350,000 barrels per day during its initial operational phase.
• The 650,000 barrels per day Dangote Petroleum Refinery can process most African crude grades as well as Middle Eastern Arab Light and even US Light tight oil as well as crude from other countries.
• A major step towards boosting Nigeria’s domestic refining capacity and attaining energy security (self-sufficiency).

Dangote Refinery, a 650,000 barrels per day plant has started operations by striking strategic alliances and resource acquisitions as it seeks to redefine Nigeria’s oil industry standards.

One such landmark development is the recent procurement by the Dangote Petroleum Refinery and Petrochemicals plant of 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO).

This significant move marks a crucial step in the refinery’s journey, as it not only serves to facilitate …

• Airtel Africa has launched Nxtra by Airtel (“Nxtra”), a new data center business, as demand for data centers continues to rise across the continent.
• Nxtra aims to build one of the largest networks of data centers in Africa, with high-capacity data centers strategically located in major cities across Airtel Africa’s footprint, complementing its existing edge sites.
• Airtel Africa’s Group CEO, Segun Ogunsanya, said that a rapid increase in data center capacity is needed to support the growth potential of Africa’s digital economy.

Airtel Africa has launched Nxtra by Airtel (“Nxtra”), a new data center business, as demand for data centers continues to rise across the continent.

Nxtra aims to build one of the largest networks of data centers in Africa, with high-capacity data centers strategically located in major cities across Airtel Africa’s footprint, complementing its existing edge sites.

Airtel Africa’s Group CEO, Segun Ogunsanya, stated that a rapid increase in …

• Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million to expand into five new African markets to increase insurance penetration in markets characterized by low uptake.
• Company Founder and CEO Adelaide Odhiambo says the investment would be raised over the next three years.
• The insurer is partnering with Mobile Network Operators and banks to distribute affordable micro-insurance products, with plans to enter Uganda, Nigeria, Ethiopia, Malawi, DRC, Tanzania, Rwanda, and Zambia.

Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million as the firm seeks to expand into five new African markets, aiming to increase insurance penetration in regions characterized by low uptake. Adelaide Odhiambo, Founder and CEO of Bluewave Insurance Agency, stated that the investment would be raised over the next three years to support the expansion plans.

Bluewave Insurance Agency’s new target markets

The company has forged partnerships with large aggregators, specifically Mobile Network Operators …

A groundbreaking initiative, the SEMA ReACT (SEvere MAlaria treatment with Rectal artesunate and Artemisinin-based Combination Therapy [in remote settings]) consortium, marks a fresh collaboration between Africa and Europe. This study addresses the knowledge gap surrounding an intervention designed to provide a critical time buffer for seeking additional care in remote settings where transferring to health facilities is difficult.…

Africa has today emerged as a fertile ground for groundbreaking startups. As 2024 approaches, the continent’s startup scene is buzzing with activity, marked by impressive funding rounds and strategic expansions. This trend is a fleeting moment and a testament to African entrepreneurship’s resilient and dynamic spirit.

The Exchange Africa spotlights five startups thriving and redefining the business landscape in their respective sectors. From renewable energy solutions in the Democratic Republic of Congo to digital health platforms in Kenya, these companies embody the ingenuity and potential of Africa’s business ecosystem. They attract significant investment and are poised to substantially impact their communities.…

• The Russian invasion of Ukraine has proved highly disruptive to world energy markets.
• There is still a distance between Africa and the rest of the world in terms of what the continent can do to establish closer ties to energy markets in Europe and elsewhere.
• Now is the time to offer tax incentives, fast-track projects, show more transparency in processes, and do everything possible to minimize investor risk.

It’s undeniable that the Russian invasion of Ukraine proved highly disruptive to world energy markets. This geopolitical clash led to the imposition of Western sanctions on the export of Russian oil and fuel and the imposition of a price cap on Russian crude by the G7 group.

It also led to the redirection of world oil trade flows. Asian countries such as China and India, for example, began absorbing considerably more Russian oil and fuel than they had done previously, and many …

• Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ).
• LFZ is the first and only free zone in Nigeria that is uniquely integrated with the deepest seaport in the region, the Lekki Port, which started operations in April 2023.
• With a rich legacy spanning over four decades, Tata International is a key contributor to the economic landscape of the African continent.

Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ). The agreement as signed in the presence of Anand Sen, Managing Director of Tata International Limited, by Managing Director of Tata Africa Holdings Pty Ltd, Len Brand. This marks a significant milestone in the company’s commitment to the region.

With a rich legacy spanning over four decades, Tata International is a key contributor to the economic landscape of the African …

• The Nigeria-Saudi Business Council could see the Middle Eastern country fund several sectors of the West African economy.
• Through the council, the Kingdom of Saudi Arabia plans to replicate various investments made in Pakistan, Indonesia, and India in Nigeria.
• Africa has increasingly become the subject of high competition between global economic powers.

Nigeria anticipates multi-billion-dollar “immediate” investment flows from the Kingdom of Saudi Arabia. This follows the signing of an agreement between the countries to establish a business council. The Nigeria-Saudi Business Council could see the Middle Eastern country fund several sectors of the West African economy. These include technological advancements, telecommunications, energy, oil and gas, and agriculture.

The two countries resolved to restore the Nigeria-Saudi Business Council. Crown Prince Mohammed bin Salman Abdulaziz proposed the Business Council in 2019. However, the former president of Nigeria, Mahammadu Buhari, resisted the council.

“We expect to see significant investment flow immediately,” Abubakar …