Nigeria's Central Bank Bars Banks From Bitcoin, Virtual Currencies
The Central Bank of Nigeria (CBN) has barred deposit money banks and all other financial institutions from the operation of any form of virtual currency including Bitcoin. According Mr Kelvin Amugo, [...]
Emerging Markets PE firm Abraaj Group interested in Barclays Africa
Emerging markets focused Private Equity firm, Abraaj Group, has expressed interest in acquiring Barclays Group African business, Chief Executive Officer Arif Naqvi was on Tuesday quoted by Bloomberg. “It’s a very fine [...]Econet Wireless Zimbabwe to raise $130 million to pay foreign loans
Reuters news agency has reported that Zimbabwe's largest mobile telephone company, Econet Wireless will raise $130 million from shareholders to pay foreign loans it is struggling to settle due to a [...]South Sudan President Fires Central bank Governor on failure to tame high inflation
South Sudan President Salva Kiir on Saturday evening sacked the central bank governor and his deputy amid rising inflation and a broke government ravaged by conflict. President Kiir replaced Kornelio [...]Mastercard Collaborates To Provide Acceptance In Uganda
Mastercard has announced a partnership with Orient Bank to expand the acceptance of Mastercard payment cards at ATMs and point-of-sale (POS) terminals across Uganda. According to Payments Africa, the collaborative [...]Nigeria reclaims spot as Africa’s largest oil producer
After eight months, Nigeria has reclaimed its spot as Africa’s largest oil producer, edging out Angola by a few thousand barrels per day. In March 2016, Angola overtook Nigeria as [...]European Investment Bank Lent EUR 92M to East African SMEs in 2016
Senior representatives of Europe’s long-term lending institution; European Investment Bank while Speaking to media in Nairobi on Monday last week confirmed lending more than EUR 92 million (KES 10 billion) in 2016 to [...]IMF says Efforts to save the naira have crumbled
The International Monetary Fund (IMF) says efforts to save the naira by rationing foreign exchange have gradually crumbled. According to Fund, challenges around Nigeria's foreign exchange have pushed inflation to double [...]Qatar International Islamic Bank receives nod to operate in Morocco
Gulf’s third largest Islamic bank, Qatar International Islamic bank has received a nod to start operation in Morocco. A number of Islamic banks have expressed their interest in the Moroccan [...]Employment prospects in sub-Saharan Africa seem to be stagnating
From this year’s Foresight Africa report by Brookings Institution, employment prospects in sub-Saharan Africa seem to be stagnating according to data from International Labor Organization (ILO). Productivity, while predicted to rise in 2016, remains below [...]Nigeria December inflation hits 11 Year High
Annual inflation in Nigeria rose in December to 18.55 percent, the National Bureau of Statistics said on Friday, its highest in more than 11 years and the eleventh straight monthly [...]Moody's Gives Negative Rating to Sub-Saharan Africa
Rating agency Moody’s has given a negative outlook to several countries in sub-Saharan Africa for 2017 against a backdrop of the liquidity stress facing commodity-dependent countries, subdued economic growth, and [...]
