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Nigeria

Nigeria And Morocco Wealth Funds Plan Natural Gas Pipeline To Europe

Nigeria has signed a deal with Morocco to construct Trans-African gas pipeline that will connect the continent’s largest oil producer to Europe’s lucrative gas market. The 4,000 kilometer-long pipeline, to be funded by the Nigeria Sovereign Investment Authority and Ithmar Capital, a Moroccan sovereign wealth fund. The two governments signed the joint partnership during a state visit by Morocco’s King Mohammed to his Nigerian counterpart, Muhammadu Buhari in Abuja, last week. The pipeline will extend the current pipeline operated by West African Gas Pipeline Company in Africa’s most populous nation that transports natural gas from Nigeria to Togo, Benin and Ghana.

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Lagos 'Garage' Supports Innovation & Much-Needed SME Development

Never before in history has innovation offered promise of so much to so many in so short a time," said  multi-billionaire Microsoft co-founder, CEO and author Bill Gates. In recent years, thought leaders such as Gates, multinational companies and governments across  the world have realised how vitally important innovation is to the development of economies. Yesterday, GE made a massive commitment to skills development and job creation in Nigeria with the launch of a permanent installation of the Lagos Garage, which is a hub for training, strategy development, advanced manufacturing-based innovation and collaboration.

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Meet the Boss: Sefik Bagdadioglu, managing director, Jumia Market

Sefik Bagdadioglu is based in Nigeria and the managing director of Jumia Market, an e-commerce site for buying and selling new and used goods. Jumia Market forms part of the Jumia Group, which has a presence across Africa. 

1. What was your first job?

My first job was consulting.

2. What parts of your job keep you awake at night?

When a seller or a buyer tells me that they did not like something on the site.

3. Who has had the biggest impact on your career and why?

Probably my parents, because of the way they raised me. They basically gave me the feeling – and this is going to sound like a cliché – that there is no such thing as impossible. You just need to find a way to make it work.

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Tony Elumelu is in it for the long haul

If you count Africa’s richest man, Aliko Dangote, among your closest friends, conversations about how to grow wealth when the "Africa rising" narrative has faded away are more important than ever. And entrepreneur Tony Elumelu is in it for the long haul, despite the waning sentiment. When he started the Tony Elumelu Foundation Entrepreneurship Programme after he left the banking industry in 2010, Elumelu had a clear mission: to empower 10,000 entrepreneurs across Africa in 10 years and invest US$100m in training and mentoring them. Elumelu, who is also the chairman of Nigerian-listed United Bank for Africa (UBA) and hospitality group Transcorp, believes he can develop Africa by empowering other countries on the continent.

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