Business

Food Lovers Market/Fruits Veg City is one of South Africa's most prominent and successful retail stores. All over the country and beyond, the multi-faceted food company has maintained an impeccable reputation in its operations and services spanning over 2 decades since its inception. History In 1993, two brothers, Brian and Michael Coppin launched the first Fruits & Veg City store in Kenilworth, Cape Town. This was shortly after SA's independence in 1990....

It is not enough to have a nice looking currency in today's world. The play of economic concepts both on the local and international scenes lead to strong or weak currencies. Although many African countries have suffered significant economic crises, some African currencies have managed to pull their own weight alongside some of the world's strongest currencies. We have highlighted 10 of such countries in this article using some factors...

SportPesa has been around since 2015 and is headquartered in Nairobi but recently the company has seen some struggles in Kenya and which has necessitated a spread to more international markets. This includes the UK, where it recently obtained a UK Gambling License and has developed multiple sponsorship deals. This also gives the sportsbook and casino a stepping stone to a broader reach of other well-known new markets such...

The Motsepe Foundation functions under the tutelage of Precious Moloi Motsepe, Patrice Motsepe's wife. Patrice Motsepe began to donate half of his fortune to the welfare of the poor since 2013. Through the Motesepe family foundation, run by his wife, the South African business tycoon has been giving back to the society via catering to social development and community services. With a net worth of $1.81 billion, Patrice Motsepe occupies the 16th position of...

One African country that we are putting in the spotlight today is Nigeria – and more specifically the attitudes, prevalence, and underlying drivers of betting within the nation. Gambling spend, in particular, is growing in Nigeria, and it is growing fast. As a nation, Nigeria is betting up to 5bn Naira (or just over 25 million USD) per day, according to Ademola Adebajo, head of one of the largest football...

When online games and casinos started flourishing, people were often complaining about the various technical and security-related issues that they were facing and how the industry was not being regulated. Soon, one by one, different nations started policing various online gaming platforms operating within their territories. Kenya, has become a newly evolving destination for online gambling and gaming. However, like all new emerging destinations for the same, Kenya will...

Equity Bank Kenya has a simple vision; "To be the champion of the socio-economic prosperity of the people of Africa." Of course, one of the ways that can be achieved is by granting loans for people to pursue their interests and dreams in various areas of life. The bank on 31st December 2014, finalized an internal restructuring that culminated in its conversion into a non-operating holding company, Equity Group Holdings...

In 2020, Forbes reported that the number of billionaires in the world reduced from 2,153 billionaires in 2019 to 2,095 billionaires in 2020. This means that 58 people lost their spot on the global billionaires league, probably as a result of the unforeseen outbreak of the coronavirus (Covid 19) which affected the world economy. Regardless, the exclusive list of world billionaires include familiar names like Jeff Bezos, Bill Gates, Mark...

Starting a business can be thrilling--all your goals and plans finally shaping up, and having the word 'entrepreneur' used to describe you. It can also be frightening--"am I doing the right thing? Am I using the right strategies? How do I go about making this enter the general market? What if this business fails?" Regardless of how you feel about starting a business, there's no doubt that this startup/entrepreneur life is...

Have you ever wondered which African country houses the majority of richest Africans? We know we have because it is not especially easy to become rich in Africa and to maintain that wealth. The truth is that with the way most African nations are struggling economically, ranks among the richest Africans are continually declining. The year 2015 was especially tough for the wealthy in Africa. By the end of 2016,...

With all that has happened in the year 2020 considering the COVID 19 pandemic and the bit of normalcy that is returning to the world, there are bound to be some changes in the list of Africa’s top 20 richest men. Having that in mind, there are usual suspects who maintained their spots on the list or even went up, heavyweights that even a global pandemic can’t seem to...

Just like Forbes recorded a decrease in the number of world billionaires, there has also been a reduction in African billionaires in the previous years. Against the 28 billionaires the continent had in 2015, the number of African billionaires dropped to 24 in 2016. However, 2017 saw the addition of yet another billionaire, raising the number to 25 but in 2020, Forbes released 20 richest billionaires in the continent. Nevertheless,...

The African continent has always been referred to as “The Sleeping Giant.” Such terminology usually points to the great potentials Africa has. It is well endowed with resources of all kinds. This applies to natural as well as human resources. In the recent past, African economies have been flourishing with the following countries making up the list of the top 10 largest economies in Africa. 10. Tanzania GDP - $62,224...

Africa has proven to be one of the continents of the world that has the fastest-growing economies. Every day, Africa continues to give birth to new and vibrant businessmen that are set to transform the economy of this wonderful and rich continent. At the moment, there is a rising number of young Africans who are building fast-growing companies in food manufacturing, engineering, technology, hospitality, and any other industry you...

There are wealthy people, and there are renowned wealthy people. Humanity has produced billionaires all around the world, but history has registered a significant number of multi-billionaires, and even some multi-trillionaires, whose wealth shook the world. They are the richest people of all time. While the majority of the spots are taken by people of ancient times, a few of the richest people come from the 20th and also...

Africa is endowed with so many human and natural resources, but the continent still lags behind on many developmental fronts, especially in wealth creation and income redistribution. Sadly, this has left many Africans living on the continent in abject poverty with no hope in sight. Some call it the "resource curse." Though the continent is still lagging behind when it comes to economic development, it is possible that in the...

South Africa is one of the most developed countries in Africa. Such development brings opportunities and riches which is why South Africans make up most of the lists of the richest people in Africa. But when looking within the confines of the country, there are people who might not have enough to feature on the continental list but are doing quite well for themselves and using their wealth to make...

Africa as a continent is home to a number of the world’s fastest-growing economies, with a lot of them buoyed by fresh oil and gas fields such as the ones in Sudan and Ghana. Though oil prices are estimated to fall in the coming years, Africa’s top oil-producing countries continue to appear among those with the fastest growing economy on the continent. Africa as a continent boasts quite a long...

The African continent is well-known for being a great resource for minerals. In fact, it prides itself on being the home to most of the precious minerals in the world. Many economies in the continent are sustained by the minerals. The following are the 10 African minerals of highest economic value 1. Oil & Gas Petroleum oil and natural gas is the driving force behind many economies in the continent. Without...

It is no longer shocking that Kenya is the largest economy in the East African Community, with a Gross Domestic Product (GDP) of $45.31 billion in 2013. More amazingly, Kenya in its cool, warm and humid climate houses some of the richest people in Africa. Of course, it prides in not only having some of the richest men in Africa, but it is also competing for the best spot with other countries...

One of the advantages of this age of technology is the myriad of ways through which information can be passed. People need not rely on newspapers, television, and radio to keep up with the latest information. Other ways information can be shared is via blogging, and today, Kenya has several blogs/websites, most of which are constantly visited by internet users because of how relevant they have become. Blogging has come...

How often have you been told that the route to success is to work had, stay in school and graduate with good grades, apply for and get a high paying job with security in a large corporate organisation. You possibly heard that a number of times from your parents while growing up, but according to a new study featured in Business Insider by Nobel-laureate and UChicago professor, James Heckman, the study reveals that preschool actually offers...

Before we discuss the biggest banks in Kenya, let's take a quick and short look at how banking grew in Kenya to what we have today. Commercial banking in Kenya dates back to the colonial era - note that I used the term 'commercial banking', this is because even before what we now know as financial institutions or banks began to exist, our people had their own forms of saving. With...

Many people are born rich with lavish trust funds and extensive investments and inheritance already laid for them by related predecessors. However, only a few Africans have been successful in meeting the odds and truly finding out the secret behind getting rich beyond reach. And these are non-other than the self-made African billionaires. As a sequel to our previously published article titled: Top 10 Self Made Millionaires in Africa, we're...

The business scene in Africa has grown in leaps and bounds over the years. Indeed, Africa means serious business and the past decade has seen a huge number of mega-corporations emerge from the continent. In the past, several of these African businesses are run by foreigners but that is no longer the case. In recent times, a new league of African businessmen is emerging. They are bold and fearlessly ambitious,...