Are Coups in Africa Still a Good Thing?

By Kenny Nwosu When we think about the impact that private credit and other forms of financing have on African companies, we tend to think about things like business growth and success. But private capital’s impact, in particular, has gone far beyond that. Utilized properly, it can have an incredibly powerful and positive effect on the lives and livelihoods of ordinary Africans. That’s true not only when it comes to things like job creation. Private credit in the right sectors can make it much easier for Africans to get to their jobs, seek healthcare, have permanent, affordable energy, and many

By Professor Maurice Okoli For the majority of African leaders and delegates, it was a momentous achievement, to participate and contribute speeches with diverse themes at the podium during the 78th session of the UN General Assembly (UNGA) in New York. The UNGA traditionally meets in September, the highest global gathering to make several significant decisions on what the organization, consisting of 193 UN members, is generally expected to do. It has wrapped up its 78th annual session with another huge pack of commitments to engage in reshaping a better life for the entire population and Development paradigms in the

By Tony Ogunlowo Just as ECOWAS is about to send a military task force to Niger in a bid to uproot coup leader General Abdourahmane Tchiani and his cronies and return the country back to its elected ruler, another coup d’état erupts in Gabon. This brings to eight the number of coups in Africa in the past three years. This throws a spanner in the works and will force the ECOWAS military command to re-think its strategy: you can’t fight two countries at once. African leaders haven’t changed over the years: they are still inefficient, corrupt, and couldn’t less about

There’s a lot that goes into building a search engine. While it seems simple enough — you type a question, and we find results that match — we’ve taken on many deep, technical challenges to make Google what it is today. And the reality is that Search is never a solved problem. Old challenges evolve, and new challenges are constantly popping up — because the internet and the world are always changing. Here are some of the biggest technological breakthroughs we’ve made through the years— and where we’re continuing to push the boundaries of innovation — as we build and

By Aduragbemi Omiyale Funds worth $50 million have been secured by Transform Health Fund (THF) to create proven and innovative healthcare models in Africa. It will involve building a resilient healthcare ecosystem that improves access, affordability, resilience, and quality of healthcare for low-income patients. FSD Africa Investments, AfricInvest, Malaria No More, and Health Finance Coalition (HFC) provided the funds to achieve this goal. They came together to address the critical healthcare financing gap in Africa, targeting three critical areas serving low-income patients: supply chain transformation, innovative care delivery, and digital innovation. The investments to be made by THF, a blended-finance

By Aduragbemi Omiyale A new report by an international financial services provider, Allianz, has disclosed that the Nigerian pension system is at the bottom of the global rankings, scoring 4.3 points in the Allianz Pension Index (API). In the research made available to Business Post on Wednesday, it was disclosed that Denmark, The Netherlands, Sweden, New Zealand, and the United States topped the chart with 2.2 points, 2.6 points, 2.6 points, 2.8 points, and 2.9 points, respectively. The survey, titled Global Pension Report, which is in its second edition, analysed 75 pension systems around the globe using the API, which

By FBNQuest Capital The National Bureau of Statistics (NBS) recently released its latest report on Nigerian Capital Importation, which covers Q2 2018. The data was obtained from the CBN and compiled using information on banking transactions from all registered financial institutions in Nigeria. The total value of capital imported in Q2 was estimated at $5.5 billion, representing an increase of 208 percent y/y but a decrease of 13 percent q/q. The decrease was driven by declines in inflows from the portfolio and other investment categories. The data are gross, and not adjusted for capital exports. Portfolio investment decreased by 10

By Modupe Gbadeyanka Fifty companies operating in Kenya are named today in London Stock Exchange’s inaugural ‘Companies to Inspire Africa’ report. Collectively, Kenyan companies make up 14 percent of the total number of companies in the report, one of the highest concentrations of high growth companies in Africa. About 28 percent of Kenyan companies operate in the renewable energy space, reflecting the country’s preeminent role in exploring alternative energy production on the continent. Amongst those from the country are Cellulant – a mobile commerce company operating a payments ecosystem which connects financial sector customers, Mobile Network Operators and businesses to

By Dipo Olowookere Acting Chairman of Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has raised an alarm over a sudden rise in the repatriation of looted funds in Nigeria by some politicians ahead of the next month’s elections. Mr Magu made this disclosure during the general meeting of the Association of Chief Compliance Officers of Banks In Nigeria (ACCOBIN), which held on Thursday, January 31, 2019 in Lagos. The EFCC chief, who called on financial institutions in the country to desist from laundering illicit funds for corrupt politicians and criminals, said many of them who had stolen the

By Adedapo Adesanya Nigeria’s economy will grow 2.8 per cent as oil production remains subdued, a World Bank report said on Wednesday. This is coming as growth across Sub-Saharan Africa remains sluggish, dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp deceleration of investment growth. In the latest Africa’s Pulse report, the global body said Nigeria was underperforming its expected long-term growth rates due to weakening performance, especially in the non-oil activity following a slow uptick in the country’s oil production in the last few months. The report said

By Dipo Olowookere One of the flour milling firms in the country, Flour Mills of Nigeria Plc, has explained why its board was yet to release the financial statements for the year ended March 31, 2019. In a notice to the Nigerian Stock Exchange (NSE), the company said the delay was as a result of an issue, which was taking longer than envisaged by the board. However, the firm expressed optimism that within the next two weeks of this notice, the much-awaited Audited Financial Statements would be filed and investors will have the opportunity to know its financial position. “Flour

By Prince Charles Dickson PhD The Indians have a proverb that literally means “Your future does not depend on the lines of your hands because people who do not have hands also have a future”. Often people ask me why I write on certain topics and issues all the time, like bashing governments at all levels and the band of ‘confusionists’ that run them, my take on the education, health and power sector, insecurity, the lack of or non-existent governance, arguments on ethnicity and the indigene question amongst others. My answer is that I do because I believe that such