30 Dec 2018

When you consider the most costly workplaces space on the planet, urban areas like New York and London,with their notorieties for being worldwide money related focuses, spring to mind. Nonetheless, with regards to valuing, Lagos, the business capital of Africa's biggest economy has figured out how to locate an agreeable spot among them.

Rentals for prime office space in Lagos (Ikoyi) is up to $90 per sq. ft per annum this year, over those seen in Midtown Manhattan in New York where rents are nearer to $76 per sq. ft per annum, as indicated by new information by CBRE, Broll and JLL, land firms. They are likewise trailing the $96 per sq. ft rents found in the City of London and multiple occasions higher than prime office leases in Illovo, Johannesburg.

Author: Dolapo Omidire is a Lagos-based real estate research analyst and editor at estateintel.com.

Image:The Victoria Island waterfront is seen from the Ikoyi neighbourhood in Lagos. REUTERS/Joe Penney 

30 Dec 2018

It's now Nigeria's biggest city, yet it's as yet developing – and quick. The number of inhabitants in Lagos is anticipated to increment by an astounding 77 individuals consistently somewhere in the range of 2010 and 2030, as per United Nations information, making it the quickest developing city in Africa.

Solid financial development, driven by an oil blast, has driven the provincial poor towards the city, and the populace flood is additionally being driven by high birth rates and the arrival of Nigerians living abroad.

These are Africa's quickest developing urban communities

Picture: UN World Urbanization Prospects, 2014
Picture: UN World Urbanization Prospects, 2014

Following in second place is Kinshasa in the Democratic Republic of Congo, while Cairo finishes the best three. The figures are determined utilizing genuine populace figures for 2010 and gauges for the reasonable populaces in 2030, taken from 2014's UN World Urbanization Prospects report.

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01 Dec 2018

Africa is charting a new path towards a single continental market – and it’s going to be an economic revolution. Nigeria’s president, Muhammadu Buhari, reasserted the resolve of the African leaders during the recently-concluded 30th African Union Summit, where he said: “We must push ahead to speedily establish the Continental Free Trade Area (CFTA), which will make Africa more integrated, united and prosperous.” But what is the CFTA, and how will a single market solve Africa’s economic ills? According to the African Union, the CFTA is a project to bring together all African countries – comprising 1.2 billion people and a combined GDP of over $3.4 trillion – under a single continental market for goods and services, including free movement of businesspeople and investments, and expansion of intra-African trade. Trade is crucial to development. Unfortunately, Africa currently has the lowest percentage of intra-regional trade in the world at 18%, compared with 70% in Europe, 55% in North America, 45% in Asia, and 35% in Latin America. Nonetheless, analysts are confident that Africa is marching forward, citing the CFTA plus other developments as notable indications. An estimate by the United Nations Economic Commission for Africa notes: “The CFTA could increase trade between African countries by as much as $35 billion, an increase of more than 50 percent from current levels.” What’s more, it will make Africa the world’s largest free-trade area in terms of member states. Here’s how the single market will pave the way for a remarkable transformation in Africa’s economy.

14 Dec 2016

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