Tag: Growth

Nigeria is a very entrepreneurial country. I often meet people on the streets or at meetings and before you know it, 10 ideas have been developed and they say, Let’s do Business.

Now Minister of Communication Technology, Mrs. Omobola Johnson, wants to promote entrepreneurs in Nigeria by launching iDEA, Information Technology Developers Entrepreneurship Accelerator.

The goal of iDEA is to support Nigerian ICT Entrepreneurs create successful businesses by offering support to promising ICT entrepreneurs through ICT incubation centers that will be established in a selected number of cities. The first center was opened in Lagos last weekend and the second center will be launched soon in Calabar.

The Goal

The primary goal of the iDEA Incubation Centre is to create 25...

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Globus, a Danish radio program on Radio 24syv broadcasted yesterday a segment on Nigeria with a focus on the cultural and economical development. The founding partner and director in Seismonaut Africa, Anders Mogensen, was interviewed on the matter, and asked if he could share his insights and knowledge about the Nigerian business environment and how a Danish company can do business in one of the fastest growing economies in the world. The program also featured an anthropologist, a journalist and a professor. Anders also shed light on some of the many prejudices people have about Nigeria - and underlined that the business opportunities in Nigeria are huge for Danish companies.

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The past week many interesting things have happened - as always. I'd like to briefly talk about a few of them here.

1. How Africa Tweets is a new research, which was released yesterday by Portland. It shows how young Africans are tweeting. Twitter is really getting it on in Africa.


In collaboration with  Read more

The growth in Africa is massive! No doubt. And it will get even bigger. Just to give you an idea; Nigeria, Africa's second biggest economy, grew 7.68 percent in the last quarter of 2011, which makes it one of the fastest growing economies in the world. Now it's just a question of who will get the biggest profit and who will capture the market shares first. The continent's middle class is growing and the demand for goods such as cars, technology, clothes etc. is huge.


With a negative growth in Europe, luxurious goods producers are increasingly targeting sub-Saharan Africa, because of its economic growth. Porsche, Samsung, Gap and many more  Read more

Here’s a quick fact for you: The rate of return on foreign investments is higher in Africa than in any other developing region. Africa is one of the world's fastest growing regions.

Being based in Nigeria this is of course our focus. Last year we experienced a 30% growth in the ICT sector in Nigeria. This is interesting in a country that’s mainly known for its oil production. Nigeria is moving fast – like a real lion.

An analysis by The Economist found that from 2000 to 2010, six of the world's ten fastest-growing economies were in sub-Saharan Africa. So, there’s no doubt whether there’s potential and growth in Africa or not, the question is how to utilize it? In  Read more

The President of the United States of America, Barack Obama has declared Nigeria the world's next economic giant. Obama has said his country was investing in Nigeria's success because it recognizes her as a strategic center of gravity, whose success would as well be Africa's success. Read more here.

We couldn't agree more. We believe very much in the ICT sector in Nigeria and the potential that lies in this sector, which grew 30% last year. The fiber optic cables are more or less ready. Imagine when the cables are fully ready - think of all the different types of businesses that can invest and do business in Nigeria and from Nigeria. The Internet has huge impact on most businesses today, so it is key that Nigeria get's this right.

If you're int...

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The digital development in Nigeria is highly interesting. Two weeks ago it was announced that Facebook passed 6 million users in Nigeria. That's not the most interesting thing because Nigeria was not expected to pass South Africa in terms of users until May 2013 and the number of Facebook users grew with 720000 in September. Pretty impressive. Nigeria is now the second biggest Facebook country in Africa.

Despite Facebook's rapid growth in Nigeria and in the rest of Africa, it's not the biggest social media network in Nigeria. In this article they tell the story on how the applica...

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