FINANCE
SA's Lesaka acquires payment provider Adumo 3 months after Heineken Analytics deal
South African fintech group Lesaka Technologies is acquiring online payment platform Adumo RF for $86.4 million (R1.6 billion) in cash and equity. The cash porti ...
M-Pesa and data revenue push Safaricom to first profit growth in 3 years
Kenyas Safaricom, East Africas most profitable company, has posted a 1.2% increase in net profits to $480.84 million (KES62.99 billion) in the full year ending March 2024, driv ...
The 0.5% cybersecurity levy does not affect you. Here are 6 answers to questions about the levy
After the news of a 0.5% cybersecurity levy on all electronic transactions broke, it has been trending on X with analyses of how much will be charged for sending different amounts amo ...
Asian markets mixed as traders eye rate cuts
While the Bank of England is expected to keep monetary policy unchanged, there are hopes it could start cutting interest rates in the summer. Photo: HENRY NICHOLLS / ...
Our pitiful naira notes
I make reference to the above title published in this column in April, 2022 about the deplorable situation ...
Naira slumps further against dollar despite EFCC raid on speculators
The naira further depreciated against the US dollar despite the Economic and Financial Crimes Commissions clampdown on foreign currency speculators in the FX market.
Jumias orders increased in Nigeria and Ghana, cut losses by 71% in Q1 2024
Jumia, an eCommerce platform, reported a $48.9 million revenue increase and a gross profit of $31.2 million in the first quarter of 2024, compared to $41.3 million and $24.9 million in ...
CBN directs banks to suspend charges on deposits till September 30
The Central Bank of Nigeria (CBN) has suspended charges on cash deposits until September 30, 2024. The apex bank disclosed this in a circular dated May 6, 2024, signed by Adetona ...
Raboo (RABT) Surges! Investors Choose Its Crypto Presale Over Dogecoin and Shiba Inu
Take a look at the crypto markets, and one will see a lot of reasons to be happy – the market is in recovery mode, and the bulls are getting ready to run after the post-Bitcoin halving sell- ...
Markets mixed as traders weigh rates outlook
Global markets are wavering after their latest run-up, with traders trying to assess the outlook for rates. Photo: Daniel ROLAND / AFPSource: AFP
CBN releases list of licensed Deposit Money Banks in Nigeria
The Central Bank of Nigeria has announced 44 lists of licensed deposit money banks in Nigeria. The apex bank disclosed this in a list released on its official websit ...
16 banking transactions that are exempted from the CBNs new cybersecurity levy:
1. Loan disbursements and repayments 2. Salary payments 3. Intra-account transfers within the same bank or between different banks for the sam ...
Egyptian Swypex secures $4 million seed to expand its corporate card platform
The news: Swypex, an Egyptian fintech providing corporate cards and management tools for businesses, has announced raising $4 million in seed funding. The see ...
UBS net profit up 71% after two quarters in the red
Switzerland's biggest bank said turnover increased by 46 percent to $12.7 billion. Photo: Fabrice COFFRINI / AFP/FileSource: AFPSwiss ...
CBN directs banks to charge 0.5% cybersecurity levy on all transactions
The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated ...
Asia tracks another rally on Wall St as US rate optimism lingers
Last week's US jobs data boosted hopes for a Federal Reserve interest rate cut. Photo: MOHD RASFAN / AFPSource: AFPAsian markets buil ...
The need for cautious borrowing
The federal governments excessive borrowing amid rising debt is not good for the economy. Despite advice from the Debt Manag ...
Nigeria to remove naira on P2P platforms following order to shut crypto-related accounts
The News The Federal Government of Nigeria, through the Securities and Exchange Commission, intends to remove the naira from all peer-to-peer platforms to combat the manipu ...
New anti-fraud law mandates Nigerian PoS agents to register as businesses with regulator
The news: Reports indicate that point-of-sale (PoS) operators must now register with the Corporate Affairs Commission (CAC) following a new directive by the federal govern ...
Rise of the Meme Coins Why Investors Love Shiba Inu, Dogecoin, and Raboo
As meme coins captivate the investment world, Shiba Inus and Dogecoin price predictions continue to dominate headlines with their dog-themed allure and surprising market resilience. ...
Retik Finance (RETIK) Announces Trading Debut Date After Collecting $32,050,000 in Presale—May 21, 2024
Retik Finance (RETIK) has set the stage for its highly anticipated trading debut after a successful presale round that saw the project amass an impressive $32,050,000 in funds. The platform ...
ATM: Banks slashes withdrawal limit for non- customers
From Tony John, Port Harcourt Most banks Automated Teller Machines (ATMs) are dispensing cash for customers to w ...
FX crisis: Naira depreciates by N130 against dollar in 24 hours
The Naira depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, discl ...
BlockDAG's 30,000x ROI and New Payment Methods Lead Amid SOL Price Analysis and PEPE Coin Rally
In today's SOL price analysis, Solana faces significant market challenges. As Solana navigates these turbulences, the PEPE coin rally also attracts attention. Amid these market movements ...
Cheap Meme Coin Gems Not to Miss in May
In the sphere of meme coins we have seen major price uptrends which has positioned this class of cryptos high on the radar for many investors and traders. For example, Pepe (PEPE) has surged ...
Top 4 Cryptos to Invest in 2024: BlockDAG Spearheads with Exceptional $30 Growth Forecasts, Among WIF, AVAX, and ARB
In the Growing world of cryptocurrency investments, identifying the highest potential for substantial returns is key. At the forefront for 2024, BlockDAG (BDAG) shines among the elite ...
BlockDAG Draws Investor Attention Gaining $22.6 Million In Fundraising As Bitcoin Minetrix Presale Ended
Following the completion of the Bitcoin Minetrix presale, which quickly reached full capacity, attention among investors has shifted to BlockDAG. This shift happened right after Block ...
Foreign exchange: Naira appreciates against dollar at official, parallel markets
The Naira ended the week by appreciating marginally against the dollar in the official and parallel foreign exchange markets. FMDQ data at the close of Friday showed ...
Nigeria financial sector: Fraud surges by 496% in five years – NIBSS
Nigerias financial sector fraud surged by 496.96 per cent from 2019 to 2023 amid the rise of electronic payment. Nigeria Inter-Bank Settlement System disclosed this ...
Nigerian Govt raises Maximum Deposit Insurance Coverage for banks
The Nigerian Government has reviewed upward the Maximum Deposit Insurance Coverage for banks operating within the country. In a recent briefing with journalists, Nig ...