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News

Card image cap 11 Jan
Through The Economic Plan, MDAs Create 2 Million Jobs – Report

The Economic Sustainability Committee conducted its first meeting in 2022, and Federal Ministers and Agency Heads reported on continued progress …

Card image cap 11 Jan
Half of Standard Chartered’s Nigeria Branches Will Be Closed

Standard Chartered Plc is liquidating nearly half of its Nigerian branches as part of a shift to digital banking. According …

Card image cap 17 Nov
Amazon to Stop Accepting Visa Credit Cards in UK

Amazon.com Inc. said it will stop accepting Visa Inc. credit cards in the U.K. because of high charges by Visa, …

Card image cap 09 Nov
Bitcoin and Ethereum Prices Hit New Milestones

Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That’s just a few weeks after it hit …

Card image cap 08 Nov
World Bank Group’s IFC Partners with South African Tech Group to Boost Digital Infrastructure

The World Bank Group’s International Finance Corporation (IFC) has partnered with South Africa’s Liquid Intelligent Technologies to expand data center …

Card image cap 28 Oct
eNaira App Disappears From Google Play Store 48hrs After Launch

The CBN is yet to address why the app was removed from the store. The Central Bank of Nigeria’s eNaira …

Card image cap 28 Oct
Bitcoin’s Price Crashes, Swallows Millions of Pounds in Cryptocurrency Markets

Bitcoin’s price has crashed yet again, wiping hundreds of millions of pounds from cryptocurrency markets and sending traders into a …

Card image cap 25 Oct
Nigeria Launches eNaira Digital Currency

Nigeria has seen booming interest in cryptocurrency as people look for ways to avoid the weakening naira currency Nigerian President …

Card image cap 24 Oct
Zimbabwe Rules Out Adopting U.S. Dollar as Sole Currency

Zimbabwe’s government has ruled out adopting the U.S dollar as the country’s sole official currency, terming it “suicidal,” the state-run …

Card image cap 22 Sep
Chinese Banks to Set up Branches in Nigeria

Chinese Ambassador to Nigeria, Cui Jianchin, has said he is in talks with Chinese banks to establish operations in Nigeria …

Card image cap 22 Sep
Nigeria and Ghana Sprint to Join Digital Currency Race

Nigeria and Ghana are racing to adopt a central bank digital currency as they look to ride the wave of …

Card image cap 17 Sep
Brazil’s Bolsonaro Hikes Finance Tax to Pay for Pandemic Welfare Program

Brazil President Jair Bolsonaro signed a decree to raise taxes on financial transactions for three months to pay for the …

Card image cap 13 Sep
Nigeria Loses N247.61bn in 100 Days of Twitter Ban

The Twitter ban in Nigeria has extended to 100 days, and in that time frame the nation has lost N247.61bn. …

Card image cap 08 Sep
South Africa’s Economy Grows Quicker Than Expected In Second Quarter

South Africa’s economy grew 1.2% in the second quarter compared to the previous three months, statistics agency data showed, a …

Card image cap 03 Sep
Naira Depreciates To N530/$1

The Naira’s sinking value has been compounded by dollar scarcity and a recent Central Bank of Nigeria (CBN) policy that …

Card image cap 03 Sep
27.4m Nigerians Earn Less than N100, 000 Yearly – SERAP Report

The Social Economic Rights and Accountability Project has stated that over 27 million Nigerians earned less than N100, 000 per …

Card image cap 02 Sep
Nigeria to Launch Its Own Cryptocurrency ‘eNaira’

The Central Bank of Nigeria will work with Bitt Inc, a Barbados-based fintech company, as a technical partner to help …

Card image cap 25 Aug
Kenya and Tanzania Set December Deadline to Remove Trade Barriers

Kenya and Tanzania have set December as the target time when the two neighbouring countries will have resolved most of …

Card image cap 25 Aug
South Africa’s Unemployment Now the Highest in the World

South Africa’s unemployment rate is now the highest in the world, according to Bloomberg. It rose to 34.4% in the …

Card image cap 23 Aug
Dubai Sets Up Money Laundering Court

Dubai has established a specialised court focused on combating money laundering, in a move to “strengthen the integrity of the …

Card image cap 12 Aug
Tollgates Return on Federal Roads

Ogunlesi quoted Fashola to have said that the regulations were developed after extensive consultations with various stakeholders. Almost two years …

Card image cap 11 Aug
UK Property Fund Outflows Slow In July as COVID-19 Curbs Lift-Calastone

Investors pulled less money from UK-based property funds in July compared with previous months, as optimism about the sector grew …

Card image cap 11 Aug
Winchester Is Now the Least Affordable UK City to Buy a Home

Winchester is the least affordable city to buy a home in, says Halifax. Its figures suggest buying a home in …

Card image cap 10 Aug
Tanzania Leads Kenya In Uganda’s Export Market

Kenya has lost footing in its main export market in Uganda, losing out to Tanzania in the wake of long-drawn …

Card image cap 09 Aug
Bitcoin Gains $220.24bn in 30 Days, Trades above $40k

The market cap of Bitcoin gained $220.24bn in 30 days according to analysis of data on CoinMarketCap. On July 8, …

Card image cap 05 Aug
Nigeria Estimated To Have Lost Over N132.8bn in Two Months Due To Twitter Ban

Nigeria is estimated to have lost N132.8bn (approximately $366,88m) since Twitter was banned in Nigeria by the Federal Government. The …

Card image cap 03 Aug
Rwanda Raises $620m through Issuance of 10-Year Eurobond

Rwanda has raised $620 million through the issuance of a 10-year Eurobond, authorities said in a statement released late on …

Card image cap 03 Aug
Food Inflation Hits Kenya

Higher prices of cooking oil, beef, and bread have pushed food inflation to a 14-month high of 8.8 percent, straining …

Card image cap 28 Jul
CBN Bans Forex Sales to BDCs

The Central Bank of Nigeria (CBN) has stated that it would not supply foreign exchange (FX) to BDCs in the …

Card image cap 20 Jul
Tanzania’s President Samia Hassan to Review Mobile Tax after Outcry

The government in Tanzania is reviewing a newly imposed levy on mobile money following a public outcry. The tax, which …

Card image cap 19 Jul
Tanzanian Phone Users Brace Up For New SIM-Card Levy in August

As public outcry continues growing over newly introduced mobile phone transaction levies, Tanzanian mobile phone users bow brace for a …

Card image cap 16 Jul
African Leaders Seek $100 Billion from World Bank Fund to Finance Economic Recovery

African leaders gathered in Abidjan, Ivory Coast to plead with the World Bank for new aid plans to finance their …

Card image cap 15 Jul
Tanzania’s ‘Patriotism Tax’ On Mobile Money Begins

Tanzanians now have to pay more every time they send or receive money via their phones A new so-called “patriotism …

Card image cap 13 Jul
Zimbabwe’s Government to Allow Pension Funds to Invest Offshore

The Government is working on modalities that will allow pension funds to invest their monies offshore, Finance and Economic Development …

Card image cap 08 Jul
Nigeria to Block MultiChoice Accounts on $4.4 Billion Tax Claim

Nigeria’s tax authority asked lenders to freeze MultiChoice Group Ltd.’s local bank accounts to recover 1.8 trillion naira ($4.4 billion) …

Card image cap 07 Jul
Zimbabwe Introduces New Banknote

Zimbabwe’s central bank announced the introduction of a new 50-dollar note, the country’s highest denomination, worth only around $0.60 in …

Card image cap 30 Jun
French President, Macron Inaugurates France-Nigeria Business Council

French President Emmanuel Macron has inaugurated the France-Nigeria Business Council – a private sector initiative to enhance business relations between …

Card image cap 29 Jun
UK Bans the World’s Biggest Crypto-Currency Exchange, Binance

Binance, the world’s biggest crypto-currency exchange, has been banned by the UK. The UK’s financial regulator, the Financial Conduct Authority …

Card image cap 24 Jun
South African Inflation Hits 30-Month High

South Africa’s headline consumer price inflation rose to a 30-month high in May, driven by surging food and fuel prices, …

Card image cap 24 Jun
WTO DG Okonjo-Iweala Seeks Lower Trade Cost to Boost Africa’s Economic Recovery

The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called for lower trade costs to boost Africa’s …

Card image cap 17 Jun
Nigeria Exports $2.48b Commodities to South Africa in a Year

Nigeria has exported commodities worth $2.48 billion to South Africa in the past 24 months with Nigeria accounting for 64 …

Card image cap 16 Jun
Kenya Gets $750 Million Loan from World Bank

Kenya has received a $750 million loan from the World Bank to support its budget and help the East African …

Card image cap 14 Jun
Tanzania to Waive Value-Added Tax on Smartphones

The waiver is expected to help achieve target of 80 percent of internet users by 2025The waiver is expected to …

Card image cap 13 Jun
Zimbabwe’s Mines, Banks in Crunch Talks over U.S. Sanctions

Zimbabwe’s mines said that they had kicked-off crunch meetings with banks, government and the Minerals Marketing Corporation of Zimbabwe (MMCZ) …

Card image cap 12 Jun
Nigeria’s Central Bank Set to Launch Digital Currency by End Of 2021

The Central Bank of Nigeria (CBN) said that its digital currency might be launched by the end of 2021. Mrs …

Card image cap 02 Jun
Camel Milk Demand Grows in East Africa

The demand for camel milk has gone up in Kenya, Uganda and Rwanda in the past year amid a quest …

Card image cap 01 Jun
African Development Bank Extends $84 Million in Financing to Boost Rwanda’s Electricity Access

The funds comprise a loan of $36.77 million from the Bank Group’s African Development Fund and a $47.45 million ADF …

Card image cap 28 May
World Bank Approves US $700 Million Credit for Nigeria

The credit will provide six million people with basic drinking water services and 1.4 million people access to improved sanitation …

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