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With more and more mobile payment systems popping up in Africa and especially in Nigeria the mobile payment scene is really getting interesting. Of course Safaricom's M-Pesa is the good example. The Next Web resently worte that Local transactions by Kenya's mobile money service, M-Pesa currently exceeds transactions made by Western Union globally, the International Monetary Fund (IMF) reports.

Mobile payment

Mobile p...

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I just stumbled upon these two articles. Quite interesting actually. I've always used Microsoft's Internet Explorer before I switch to Mac (and now I will never go back). Maybe because I didn't realize that there actually existed other browsers. Anyways, for the first time Internet Explorer now drops to less than 50% in browser market share.

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The number of Facebook users in Nigeria has just passed 4 million. This is incredible because the number is growing so fast. The past month the number of users increased with 189, 900 and during the past 6 months the Nigerian Facebook user number grew with almost 1 million.

Nigerian Facebook

Techloy, a technology news media site with incisive coverage of West African tech markets, writes in  Read more

Nigeria is not for weaklings - that's one thing many business people say when they're in Nigeria. Many companies have their doubts when deciding whether to enter the Nigerian market or not. MTN, the biggest telecom operator in Nigeria, observed Nigeria for 3 years before entering. This is something to keep in mind. Before entering this interesting market, we also recommend that you do your studies well. Get in contact with companies in Nigeria to see if you can learn from them.

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I've written about mobile money before ( here and here) and I tweet alot about it. Mobile money is the new black. In this article Managing Director in GT Bank, Mr. Segun Agbaje says that mobile money will transform Nigeria's economy. The services of mobile money would contribute significantly to the growth of Nigeria's Gross Domestic Product (GDP).

A  Read more

Over the next four days I'll post a look back on Africa (with focus on Nigeria) 2011 - split into four parts. I'll start with an overview, then two days of tendencies and finally a post with my predictions for 2012.

Overview

Hunger, poverty, aid, riots and bare footed football - these things are often part of the West's perception of Africa. Discussions of Africa often involve terms like corruption and lack of development, but Africa is much more than this. 2011 was the year Africa came back into (business) peoples' mind!

There are tons of positive stories about development in Africa and finally we are talking about investing in Africa, rather than just sending aid. Partnering with and investing in African companies is the way to go. IMF expects an a...

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This is the second of four posts on Africa 2011. In this post I'll talk about two trends that really has caught my attention.

Mobile payment systems

Something that really caught the attention of many in 2011 is mobile payment. Less than 10 % of Africans have a bank account, but there are more than 620 million mobile phones in circulation. Africa has overtaken Latin America to become the second largest mobile market in the world, after Asia. Mobile payment is the future. Mobile payment has huge potential and many African countries are riding that wave now. Kenyan Safaricom has had huge success with their M-Pesa. They have transacted what is equivalent to 20 per cent of Kenya's GDP and what is more money than Western Union transfers - globally. Watch a short M-Pesa documentary  Read more

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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I first blogged about MXit last year when I realized MXit was and still is twice as big as Facebook in South Africa. What exactly is this mobile social media really. Why is MXitmore popular than Facebook.

According to this article MXit has 49.498,267 users in 120 countries. South Africa and Nigeria are currently the fastest growing MXit countries. 50% of the users are on Nokia handsets.

IMG_1835

Perhaps MXit's success is just a coincidence or maybe it's because MXit is focusi...

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Have you ever wondered how foreigners experience Nigeria on their first trip to the country? If yes, then this is the blog to follow in the next few weeks.

My name is Lars and I have been employed as a Business Development Manager in Seismonaut Africa since July 2011. Up until now, I have been working from Seismonaut's offices in Denmark, but in the next two weeks I will be visiting our offices in Abuja, Nigeria for the first time. I will  be blogging on Seismonaut Africa's website to keep you updated on my experiences.

Abuja by night 2

February 22, 2012 - Day 1

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