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Africa Business Economy 

AMERICA’S FMC TO START SUBSEA SERVICES OFFSHORE GHANA

VENTURES AFRICA – New York-listed FMC Technologies has signed a five-year contract with British Tullow Oil to start subsea operations at Ghana’s Jubilee oilfields. The agreement will see FMC Technologies support Tullow Ghana’s completions and production operations for the Jubilee field from its Subsea Service Base in Takoradi. FMC says “will provide offshore and onshore technical services, including maintenance, refurbishment, and inspection on FMC Technologies supplied equipment and tooling.” FMC’s Senior Vice President, Tore Halvorsen in a statement said “This agreement will provide life-of-field support for this important development.” FMC…

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Africa Business Education Entrepreneurship 

TALKING BUSINESS WITH PRIVATE EDUCATION ENTREPRENNUER SIMON GICHARU

For many years Kenyans had very little to choose from when seeking university education, a situation that is partly to be blamed for the country having less than a million degree holders nearly 50 years after independence. Today, the government and private investors are channelling investments towards the education industry amidst growing demand. One such investor is Simon Gicharu who started a small college with second-hand computers in 1996, that has since grown to become one of Kenya’s leading private universities. Gicharu told How we made it in Africa’s Dinfin…

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Africa Business Sports 

WHY THE NBA WANTS TO GROW BASKETBALL IN AFRICA

Few would argue that football is not the most popular sport in Africa. However, the beautiful game could soon face some competition from the National Basketball Association (NBA) that has upped its efforts to grow the popularity of the sport and to boost support for NBA teams such as the New York Knicks and the Los Angeles Lakers. In 2010 the NBA opened its first African office in Johannesburg. The man they recruited to lead the league’s operations on the continent is Senegalese-born Amadou Gallo Fall, who previously worked for…

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NIGERIAN UNIT CONTRIBUTES $4.2 BILLION TO MTN GROUP’S $15 BILLION REVENUE

Nigerian Unit Contributes $4.2 Billion To MTN Group’s $15 Billion Revenue TWOFEET AFRICA – South African telecommunications giant, MTN Group released its full year to December 2012 Financial Statement, which shows revenue of R135.1 billion ($14.67 billion) up from R121.8 billion ($13.15 billion) a year earlier. As expected, a huge chunk (29 percent) of the company’s revenue was came from MTN’s Nigerian unit which raked in about 774 billion naira ($4.2 billion). This represents an 11 percent increase over the same period in Rand terms. In terms of EBITDA margin (Earnings…

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THE MAN BEHIND NIGERIA’S ANSWER TO THE iPad

Interview: The man behind Nigeria’s answer to the iPad Saheed Adepoju, 30, is co-founder of the Encipher Group, a Nigerian technology company famed for producing the country’s first tablet computer, called the ‘Inye’. Adepoju told How we made it in Africa’s Dinfin Mulupi how he stumbled into device manufacturing and the state of Nigeria’s technology sector. Below are excerpts. Saheed Adepoju How are the Encipher Inye tablets doing in the market? The Encipher Inye tablet has gained some local and international hold. Inye provides the same Android experience as any…

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Africa Business 

HARNESSING REMITTANCES FOR AFRICA’S DEVELOPMENT

BY Mthuli Ncube More than 30 million Africans (about three per cent of Africa’s total population) are living outside their home countries. This figure includes those living within other African countries. These African migrants send money to their families in Africa. Remittances by African migrants play an important role as a source of financing and foreign exchange for African households and countries. A recent report published by the United Nations Conference on Trade and Development (UNCTAD) shows that remittances sent to the world’s poorest countries including 33 African countries have…

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Business Entrepreneurship General 

HOW TO BUILD A MULTI MILLION DOLLAR ONLINE BUSINESS IN NIGERIA

How did a 30-year old Nigerian and a Ghanaian – Tunde Kehinde and Raphael Afaedor – grow their local e-commerce startup into a multimillion dollar company in less than year? 2FA – I was chatting with a colleague, as we drove to Jumia’s Lagos corporate office, when he asked rhetorically: “Why would JP Morgan be so interested in a 5 month old Nigerian startup as to invest millions in it?” Well, I was eager to know too. Africa, home to six of the world’s fastest growing economies, has caught the…

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Africa Business Economy 

WHAT WE CAN LEARN FROM STANDARD CHARTERED’S SUCCESS IN AFRICA

UK-based banking group Standard Chartered has been present in sub-Saharan Africa for 150 years, with a current footprint in 15 countries in the region. At the recent Ernst & Young Strategic Growth Forum event in Cape Town, Standard Chartered CEO for Africa, Diana Layfield, outlined four reasons for the bank’s success in Africa. Market knowledge Market information on Africa is often not easily accessible. “Not everything is available on-screen through different agencies, as it is in much of Western Europe and the USA. It is a very, very different world…

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Africa Business Economy Entrepreneurship General 

How We Made It In Africa

Young serial entrepreneur, Nadeem Juma, explains how to be a success in Tanzania Nadeem Juma established an international school ten years ago at the age of just 19, and is the co-founder and chairman of a research and development (R&D) company that developed and deployed the first mobile banking platform in Tanzania. Juma is also the co-founder and chairman of AIM Group, the first new media agency based in Tanzania. How we made it in Africa’s Dinfin Mulupi engaged the self-confessed serial entrepreneur on digital marketing, Tanzania’s technology sector and…

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Business Economy 

HOW COMPANIES CAN TAP INTO THE RISE OF AFRICAN CONSUMER GROUPS:

Africa’s middle class has been growing steadily alongside its economies. Yet income inequality is still high across the continent; with a booming elite luxury demand polarised by a vast bottom-of-the-pyramid market, as highlighted by An Hodgson, an analyst at Euromonitor International. Nevertheless, Africa’s various consumer groups offer very real opportunities for companies looking to tap into this potential. Euromonitor estimates that there are over 313 million middle class consumers in Africa, and that this group is growing rapidly. “Consumer-focused businesses investigating the African middle class consumer market can expect untapped…

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