Silicon Valley VC model doesn’t work in Africa, argues Silvertree Holdings man

The Silicon Valley venture capital (VC) model doesn’t work in Africa and other emerging markets, argues Manuel Koser, the managing director and co-founder of Silvertree Internet Holdings. The funder likes to refer to itself as a “investment growth partner” holding stakes for a longer period in those it invests in than your traditional seven to eight years […]

Google rolls out free Wi-Fi access in Nigeria

Technology Company Google is aiming to provide high-speed wi-fi hotspots in Nigeria through its Google Station in a bid to provide internet access across the country. With an initial launch in Lagos, Google plans to reach 200 locations across 5 cities by the end of 2019. CNBC Africa caught up with Google’s Nigeria country manager […]

Investec banks on mobile in Africa

INVESTEC Asset Management’s Africa-focused private equity fund has acquired a significant minority shareholding in technology services firm wiGroup for an undisclosed sum. The plan is to help the firm grow and sell more software to corporate clients and mobile money issuers in Africa. wiGroup delivers solutions that enable corporates to accept mobile transactions. It helps […]

What China’s surprise currency devaluation means for its economy and the world

China surprised the world on Tuesday by devaluing its currency, in a move likely to boost Chinese exports and support the country’s flagging economic growth. The change to the currency’s value was the most dramatic one-day change in two decades. The move is likely to stir intense concern, as political leaders, especially in the United States, have long […]

The Nigeria-UK Capital Markets Project

The Nigeria-UK Capital Markets Project Tuesday launched its inaugural report on the state of the Nigerian capital markets, stressing the need to boost the integrity of the markets, improve information disclosure, reduce potential for manipulation, promote transparency and good governance and generally improve standards and investor confidence. This came as the Lagos State Governor, Akinwunmi […]

Greece’s tax revenues collapse as debt crisis continues

Fresh evidence of the dramatic impact of the Greek debt crisis on the health of the country’s finances has emerged, with official figures showing tax revenues collapsing. As talks continued over a proposed €86bn third bailout of the stricken state, the Greek treasury said tax revenues were 8.5% lower in the first six months of […]

Nigeria’s market capitalisation up by N72bn

Transactions at the Nigerian Stock Exchange (NSE) on Tuesday remained upbeat with investors net worth appreciating by 0.70 percent. The News Agency of Nigeria reports that the All-Share Index rose by 211.03 points or 0.70 percent to close at 30,458.86 against 30,247.83 posted on Monday. Similarly, the market capitalisation, which opened at N10.367 trillion, appreciated […]

Greek shares plummet as the Athens Stock Exchange reopens

The Athens Stock Exchange (ASE) plunged 22.86 per cent this morning, after it resumed trading for the first time in five weeks. The country’s banks – Piraeus Bank, National Bank, Alpha Bank, and Eurobank – were the biggest losers, each suffering heavy losses of around 30 per cent. Banks make up about 20 per cent of […]