Bad News – International Monetary Fund Is Back
Lagarde is visiting when the government is desperate for new money but in no mood to listen. Usually that means no deal but possibly not when the IMF and Museveni need each other. Meetings between teams from IMF and planners of Uganda’s economy, especially President Yoweri Museveni, have historically involved divergent perspectives but common goals. […]
Tanzania’s Government Seeks U.S.$785 Million Soft Loan From World Bank
Tanzania’s government is seeking a 785 million US dollar (over 1.7tri/-) soft loan from the World Bank to execute development projects in the next fiscal year, Finance and Planning Minister, Dr Philip Mpango, revealed yesterday. According to the minister, the projects include implementation of the second and third phase of the Bus Rapid Transit in […]
Ingenico Group partners with Interswitch to deliver best-in-class multichannel payment solutions to the Nigerian market
Ingenico Group (Euronext: FR0000125346-ING, the global leader in seamless payment, announced that a strategic partnership has been signed with Interswitch Nigeria Limited, the leading transaction switching and electronic payment processing company in Nigeria. Since 2002, Interswitch has been promoting the seamless circulation of electronic money by building the payments infrastructure and bringing new products and […]
Ghanaians Lose Money on a Russian-Backed Ponzi Scheme: Bank of Ghana also to Blame
Many people in Ghana have lost money by investing in a Russian-backed Ponzi scheme which promises huge profits. The scheme, the Mavrodi Mondial Movement or MMM, was introduced in Ghana after it was banned in Nigeria. Ghana’s financial sector is currently struggling to recover from a major financial crisis involving Ponzi investment schemes. Millions of […]
Liberia Governor Weeks Calls for the Consolidation of Forex Bureaus
The Executive Governor of the Central Bank of Liberia, Milton A. Weeks, has called for the consolidation of the foreign exchange bureaus in the country to enhance their performance. Governor Weeks observed that Monrovia alone has more than one hundred licensed foreign exchange bureaus. The consolidation of these bureaus, the Governor said, would enhance uniformity […]
Management of Political Change Will Dictate the Level of Uncertainty for Businesses in Southern Africa for 2017
Macro-economic instability fuelled by low oil prices and global economic sentiment will continue to be the main driver of business risks across Southern Africa in 2017. Governance improvements and the embedding of certain democratic practices and norms will limit the scope of potential for deterioration among African nations, but challenges will still persist. Cyber-attacks are […]
The African Development Bank appoints MCB Investment Management as Fund Manager for its first Fixed Income Exchange Traded Fund (ETF) in Africa
The African Development Bank (AfDB)has appointed MCB Investment Management (MCBIM) , a subsidiary of MCB Capital Markets, as Fund Manager for its first multi-jurisdictional Fixed Income Exchange Traded Fund (ETF) in Africa. The Board of Directors of the AfDB has also approved a seed equity capital investment of USD 25 million for the ADBF. The […]
SimbaPay launches mobile money transfer service to Ghana and Uganda
SimbaPay a London based digital money transfer provider –today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly. “This is the perfect Christmas gift to Ghanaians and Ugandans […]
Barclays, Techstars open global applications to fintech entrepreneurs
Applications have opened for the Barclays Accelerator programme, powered by Techstars, an initiative aimed at uncovering the next M-Pesa or Paypal by working with exceptional fintech entrepreneurs innovating Africa’s financial services industry. This collaboration between Barclays Africa and Techstars offers a game-changing opportunity to 10 qualifying fintech startups, which will take part in a 13-week […]
Zimbabwe Officially Has A New Currency Introduced Through a Back Door
It’s late morning in the Zimbabwean capital, and there are already 63 people waiting in line outside a suburban branch of the Central Africa Building Society (CABS) bank. Kudzai Moyo, a 28-year-old graphic designer, isn’t one of them. “What’s the point?” he says. “If you’re not there early enough, you can forget it. They don’t […]
