MTN scraps mobile money business in South Africa
South African mobile phone operator MTN Group has pulled the plug on its local mobile money business, saying it was not viable in a country where around three quarters of the [...]
Barclays Africa Completes the first trade finance transaction using blockchain
Barclays and an Israel-based start-up company have carried out what they say is the world's first trade transaction using blockchain technology, cutting a process that normally takes between seven and [...]Nokia-Alacatel Nigerian offices closed for lack of licence
Nigeria's telecoms regulator has shut the offices of Nokia-Alcatel for operating in Africa's largest economy without the necessary permit, the watchdog said on Friday. The Nigerian Communications Commission's (NCC) spokesman [...]Scanad makes it to Ghana Club 100 list
In a survey conducted by the Ghana Investment Promotion Centre (GIPC), Scanad Ghana has emerged the only creative agency at position 30 in Top Ghana Club (GC) 100 list. The company [...]UN Ranks Kenya and Nigeria under the lower Middle Income countries
Kenya, Nigeria and 11 other countries have been listed under the Lower Middle-Income Countries by the United Nations Industrial Development Organisation (UNIDO) in a report submitted to the just concluded G20 Summit held [...]Nigeria in worst economic recession in 29 years
According to the Nigerian Bureau of Statistics (NBS), the country's gross domestic product (GDP) for the second quarter of 2016 contracted by 2.06 percent to record its lowest growth rate [...]Sub-Saharan Africa H12016 Private Capital Invested drops to US$584 Million
Following record fundraising levels in 2014 and 2015, many Sub -Saharan African fund managers are in a deployment phase. Consequently, while an additional US$724 million was raised for the region [...]Nigeria Central Bank Suspends 9 banks from Forex Market
The Central Bank of Nigeria, CBN, has barred nine commercial banks from all foreign exchange transactions and operations. The banks were barred for allegedly hiding some $2.12billion belonging to the nation’s [...]New laws passed to allow self listing of Uganda Stock Exchange
Uganda has passed new regulations to allow the public to own shares in the Uganda Securities Exchange. The move is part of a regional initiative aimed at promoting the unification [...]Buhari to Officially open 39th meeting of African Central Bank Governors
Nigeria's President Muhammadu Buhari is scheduled to formally declare open the 39th ordinary meeting of the Association of African Central Banks (AACB), to be hosted by the Central Bank of [...]Tigo Pesa to give customers $2.5 million of its Quarterly Profit
Tanzania's telecommunications company Tigo has announced that it will share $2.57 million (Tshs 5.6 billion) of its quarterly profits to the users of its mobile financial services product, Tigo Pesa. The company began [...]Egypt agrees to take IMF $12Bn loan
The Central Bank Egypt has agreed to take a $12 billion loan facility from the International Monetary Fund (IMF) for the implementation of quick economic reforms needed in the economy [...]
