Features | - Part 203

Nigerian Insurance Industry: Overview, Challenges and Opportunities

Despite the lingering apathy for Insurance by the Nigerian populace, driven largely by cultural & religious beliefs, the Industry remains resilient, recording a compounded annual growth rate (CAGR) of 10.2% in gross premium Income (GPI) since 2012. In 2016, the Industry’s GPI grew by an estimated 10% to ₦356 billion[1]. Growth was upheld by the enforcement of compulsory insurance policies, particularly in the group life and motor insurance business lines. However, the Industry’s performance was…

The Promise of Blockchain in Insurance

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Blockchain has huge potential to enhance insurers’ business model and to improve cooperation between insurance companies but is also being used by digital start-ups to attack it. Hence, the imperative for Incumbents to start exploring this nascent technology.Many have likened the revolutionary possibilities of blockchain technology to those of the internet, such is its perceived capacity to transform the ways in which people and businesses cooperate. Sensing this, investors…

OPEC, non-OPEC Extend Cuts in Oil Output by Nine Months to battle Global Oil glut

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Oil prices dropped more than 4 percent <LCOc1> as the market had been hoping oil producers could reach a last-minute deal to deepen the cuts or extend…

South Africa Miners Seek Policy Clarity to Boost Spending

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa needs to finalize its long-delayed mining regulations if falling investment in the sector is to be reversed, according to the Chamber of Mines, which represents producers. Fixed investment in mining dropped in each of the past two years after growing at an average annual rate of 12 percent from 2001 to 2008 and 2 percent from 2009 to 2014, Chamber Chief Executive Officer Roger Baxter told reporters in Johannesburg on…

High Noon for President Zuma as Key ANC Leaders Seek Ouster

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma faces a key battle for his political survival this weekend when senior members of his ruling party say they’ll push for its decision-making national executive committee to order him to step down. Zuma, 75, goes into the meeting of the committee facing an unprecedented level of opposition from within the African National Congress and its labor and communist supporters following a series of scandals he’s faced since…

Gambia Talks With China, Norway Investors to Revive Economy

Posted on by The Editorial Team

BANJUL (Capital Markets in Africa) – Gambian officials are holding talks with Chinese and Norwegian investors on infrastructure projects to drive economic growth in the West African nation after decades of dictatorship, a minister said. “We want investors that will understand the situation we are emerging from,” Trade, Industry and Regional Integration Minister Isatou Touray said in a May 22 interview in the Nigerian capital, Abuja. “We hope investors will see that Gambia is no longer…

The dark, dangerous, and insanely profitable world of DDoS attacks

Posted on by The Editorial Team

JOHANNESBURG – May 24, 2017 – Imagine a business model with a 95 percent profit margin. As wonderful as this sound, this business is certainly not something that most would want to get into. We’re talking, of course, about the criminal enterprise of Distributed Denial of Service (DDoS) attacks. This form of cyber-crime has grown exponentially over the past few years, giving CIOs and digital business leaders sleepless nights about whether they’ll be the next…

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