Currencies, capital markets, and the prices that move African economies.
Of the top richest South Africans listed by Forbes, the first five are white men. Rupert, the eldest son of an industrialist who founded tobacco company Rembrandt Group, trails only diamond heir Nicky Oppenheimer. In the first day of the State Capture Commission appearance by former president Jacob Zuma, startling
A financial information company based in Europe, Euromoney has named Guaranty Trust Bank Plc as the best bank in Africa.The bank was awarded the prestigious prize at the 2019 edition of the annual awards of Euromoney which held in London on Wednesday, July 11. GTBank was also named the
Just a month ago we carried a report on the once bustling scheme which was being run in Ladysmith, South Africa. The popular ponzi scheme, dubbed Bitcoin Wallet, which hoodwinked desperate investors to believe they could make a tenfold return on money invested has reportedly run out of cash. Investors
The U.S. – China trade war is a reflection of the selfish nature of world leaders. It shows how low respected figures can go in getting their hands dirty just to achieve petty aims. It is indeed a matter of concern that two world powers in the United States and
Over the course of the past decade, greater penetration in mobile phone usage and continued lack of formal banking presence have made mobile money services the primary financial platform for millions of rural Tanzanians. However, despite its rapid increase in popularity, mobile money is, to this day, largely limited in
Finally, the Economic Community of West African States (ECOWAS) has adopted a ‘proposed’ single currency called the ‘Eco’. Since its adoption of the ECOWAS passport which was geared towards easy regional integration, the single currency has been the next point of agenda for the commission but lip services and back-and-forth
Speculation about a failed trip to China is rife in Kenya after President Uhuru Kenyatta disappeared for ten days. A government spokeswoman sought to reassure the public: Mr Kenyatta had been in his office “meditating”. After an impressive run of a good relationship with China, scooping up at least $9.
Crypto currency entrepreneurs will be kicking the dust at the recent statement released by the Central Bank of Uganda. In trying to catch up with the rest of the world, African online currency enthusiasts and crypto currency entrepreneurs have continued to do all they can to introduce the online currencies
When George Weah was elected as Liberia's president, people expected change from him. There was a new wave of hope. However, as time has passed by, this hope has fizzled out, metamorphosing into frustration and anguish at the government. George Weah has been under immense pressure from the
Africa has joined the rest of the world in opposing the US position in the World Trade Organisation (WTO). A large majority of WTO member states now openly oppose US veto power on judicial appointments, with all 43 African member countries now joining the list of nations in opposition. The
Do you dream of intra-Africa trade? Nigeria's president, Muhammadu Buhari, does too, but he won't sign the African Continental Free Trade Area (AfCFTA). Buhari on Thursday outlined his vision of what intra-African trade should be. He spoke while receiving a report of a committee he set
A former Central Bank of Nigeria Boss turned Emir of Kano, Alhaji Muhammad Sanusi II, revealed shocking details regarding the state of Africa's Iargest economy. He submitted that Nigeria was on the verge of bankruptcy, and urgently needs to curb its subsidy policy on petroleum products and electricity.
The United States has warned African countries that they should not expect western-sponsored debt relief to pay back debts incurred, including debts incurred to China. The statement came from U.S. Assistant Secretary of State for Africa for African Affairs, Tibor Nagy. Tibor referenced the Heavily Indebted Poor Countries (HIPC)
After two days of high-level discussions, West African ministers and central bank governors recently agreed on a draft report on the establishment of a regional currency. The report will be reviewed by heads of State in July, 2019 on the establishment of a new regional currency. Among the key issues
What would you do if you woke up one morning to find out that your account balance has increased? You were not expecting any credit transaction and your bank statement doesn’t show any detail of such! But as at the previous night, your balance was zero, and now it
According to The Citizen, the cryptocurrency scam is operating from Kwa-Zulu Natal’s rural town of Ladysmith. The scam is estimated to be drawing in R2 million ($135,000) daily in a town of just over 60,000 people. Reports are that some of the unsuspecting investors in the scheme
