Now to start
Tag Results: nigeria
A Reuters report has confirmed that Africa’s most populous nation is set to become the latest country on the continent to get on the mobile money system, a move which analysts say has the potential of transforming personal and business banking in the country.
Taking a hint from Kenya and South Africa, Nigeria’s central bank is set to implement the new system later this year after trials held across the country prove successful. (via Mobile Money: Nigeria to Become Africa’s Latest Cashless Economy)
- Via
- prepaidafrica
Time for me to keep track of African startups
Featured Startup: Tech Hub Nigeria
Not really a startup but an inncubator of technology startups based in Nigeria (discovered on ICTWorks)
Eyen Akwa Ibom (via jeremee6680)
They are rapping in IBIBIO! I LOVE IT!
Aisha Augie-Kuta | photoblog » Future Icon
Amazing photograhy from Nigerian photographer Aisha Aguie-Kuta. I only feature my favorite here but go to the site and experience her work for yourself. Breathtaking.
RT @Kayobiclothing: Excellent Photography from NIGERIA by Aisha Augie-Kuta-http://tinyurl.com/nwqp2f -via ALT MAG -http://tinyurl.com/ygoneq2
“The days of board impunity and license to conceive, enter and exit transactions without presenting a clear case on the benefits to shareholders may be drawing to a close in Nigeria. It’s about time too.”
The last I heard: A look at deal communications in Nigeria
I agree with the author here. As Obama has said, good governance is the path to prosperity on the continent. I hope increased shareholder dissonance will spark governance changes at all necessary levels within Nigeria’s public AND private sectors.
High-speed Internet lands in Lagos, Nigeria via the Glo submarine cable system Glo 1! This is excellent news for the information telecommunications technology sector in Nigeria and throughout the continent.
There’s been a bit of coverage on it which you can read at 27 Months, TechMasai, Vanguard, ITNewsAfrica, and This Day. Cable landings are a pretty big deal and this one is made even more so as it’s being deployed primarily by Globacom Limited who are a Nigerian company. (via Subsaharska)
Globacom is the first single telecommunication company IN THE WORLD to own its submarine cable. The high capacity Glo 1 optic fibre cable will bring direct connectivity between West Africa, the UK and the rest of the world. This will translate into much faster and more robust connectivity for voice, data and video. (via Vanguard; emphasis mine)
Photo courtesy of flickr.
Now what to do about a consistent electricity source to power all this broadband connectivity. One step at a time I guess.
“Last Friday, Nigeria sacked the senior managers of five banks and injected $2.6 billion into them. The charge was bad governance and poor leadership had left the banks so weakly capitalised they presented a systemic risk.”
Nigeria bank crackdown: real effort or witchhunt? | Reuters
Now this is how you bailout a bank! Fire management and THEN give them the billions they need to re-capitalize. You would think the US would have had the balls to do such a thing. Action like this could only be done in a non-western country. All that politically correct nonsense that we tip-toe around in the US really gets in the way of real progress and change sometimes.
“Leaning more towards hip-hop than high life, the latest breed of Nigerian artists fuse American urban sounds with Nigerian influences to great effect… But.. it is marked with a distinctly Nigerian stamp… Industry observers think the Nigerian music scene could become as successful as Nollywood - Nigeria’s film industry, which is now rated as the third largest in the world.”
“Nigeria banned interbank foreign currency trading to help shore up the naira, which has lost about 20 percent since Nov. 26 [2008], when the government let it weaken rather than defend the currency by running down foreign reserves.”
“The naira traded at 160 per dollar yesterday, compared with about 182 on May 22 [2009], when the central bank ban was lifted… The black-market rate’s appreciation brings it closer into line with the official interbank market, where the naira is trading at 148 per dollar…”
