Posts Tagged ‘Nigeria’
Lagos, Nigeria’s commercial hub, could soon have a US$45 billion economy.
Coupled with strong economic growth over the past decade, Nigeria’s huge population presents many business opportunities for companies.
Nigeria is changing rapidly. The size of the economy may expand 40-60% overnight, new online sales channels are booming, and the security situation is deteriorating.
“Successful entrepreneurs are not usually the smartest people, or even the most hardworking.”
How we made it in Africa talks to Louw Burger, a South African-born businessman running a cassava processing company in Nigeria.
Nigeria offers investment potential for companies looking to capitalise off the population’s increased consumer spending power.
American conglomerate General Electric says it will invest US$1 billion in Nigeria, promising to more than triple the country’s electrical output over the next 10 years.
A commercial cassava farming business in Nigeria requires crop financing as well as a five-year loan to purchase additional equipment and to upgrade infrastructure.
Anna Rosenberg, a senior analyst for sub-Saharan Africa at Frontier Strategy Group, looks at the developments that will shape West Africa’s economic powerhouse in the new year.
Nigeria is one of the world’s fastest growing economies. However, it is apparently also the worst country to be born in the year 2013.
“Our view is that there continues to be very significant growth potential. It is the largest market in Africa. It will very soon be the largest economy in Africa.”
Nigerian leaders have championed the revival of the nation’s rail lines for years.
In a recent report by Standard Bank, analysts Simon Freemantle and Jeremy Stevens outlined five trends powering Nigeria’s appeal to investors.
It is widely expected that Nigeria will overtake South Africa as the continent’s biggest economy. According to some estimates this could happen by as early as 2018.
Global online classifieds service OLX has been launched in Nigeria and Kenya. Kate Douglas caught a moment with Neil Schwartzman, the CEO of MIH Internet sub-Saharan Africa, to find out more about the launch of OLX.