African business leaders expect higher GDP growth
African business leaders are confident sub-Saharan Africa will beat International Monetary Fund forecasts for GDP growth this year and next, according to new research for blockchain-based mobile network operator World Mobile. The IMF is predicting real GDP growth of 3,8% this year, rising to 4% next year. However, the study with African business leaders found
Ghana: Banking association introduces a joint common mobile money solution
(Ecofin Agency) – Since digital transformation is advancing in Africa, Ghanaian financial service providers want to leverage it to boost financial inclusion in an environment where most of the population is still unbanked. Last week, Ghana’s banking association GhIPSS launched GhanaPay, a mobile money service designed to accelerate financial inclusion in the country. According to
South Africa FA Promises Players $30,000 Each
Banyana Banyana of South Africa will receive R400 000 each (around US$30,000) if they win the 2022 Africa Women’s Cup of Nations in Morocco, reports Complete sports.com. South Africa Football Association (SAFA), President Dr Danny Jordaan and CEO Advocate Tebogo Motlanthe made the promise while addressing the players ahead of the team’s departure to Rabat,
Monetary policy rate: Ghana’s 19% second highest in Sub-Saharan Africa – Report
The cost of business has also increased due to high lending rates in the country as compared to Côte d’Ivoire and Nigeria with policy rates of 4% and …
Cycling: Africa Track Championship in Abuja attracts 20 countries
Am aerial view of Moshood Abiola National stadium Abuja No fewer than 20 countries have signified their interest to take part in this years’ African Track Championship billed to hold from July 14-17 2022, at the Velodrome, Moshood Abiola Stadium, Abuja. According to the Secretary General of Confederation of Africa Cycling, (CAC) Morocco, Egypt, South
Ghana’s policy rate of 19% second highest in Sub-Saharan Africa
Dr. Ernest Addison Ghana’s policy rate of 19% is the second highest in Sub-Saharan Africa after Angola, Fitch Solutions tracking of 20 countries in the region has revealed. This is coming after the recent adjustments of the key lending rate of many central banks in the region. Ghana’s banking industry has been characterised by high
Technological Innovation, Not ‘Basic Education’ Will Make Nigeria Great
Human Rights Activist and Presidential Candidate of the African Action Congress (AAC), Omoyele Sowore has said basic education will not make Nigeria great as it is an outdated concept. He added that if elected, his administration would focus on advanced education. Sowore said this while speaking to reporters during the African Economic Merit Award Inspire
Lower lending seen as only 5 banks meet CBN threshold
Only five deposit money banks (DMBs) listed on the Nigerian Exchange Limited have Loan to Deposit Ratios (LDR) above 65 percent, while 13 others fall below the regulatory threshold due to a lack of good borrowers and fear of recording high non-performing loans (NPLs), analysts said. The five banks, which are mostly Tier 1 lenders,
Zeepay Introduces New Product Promising Insurance Cover for Remitters
Zeepay Company Limited, on Thursday, June 16, 2022, hosted the second edition of Disrupt 270 Conference on the theme “Leveraging Remittances for Digital Inclusion and Impact” to commemorate the International Day of Family Remittances. The one-day thought leadership conference provided insights on the evolution of remittances post-pandemic and how various policies are influencing the industry
Amazon Expanding To Nigeria And South Africa in 2023
Amazon, the popular US e-commerce company, is currently making plans to expand into five countries across Africa, Europe, and South America according to a report by Business Insider. The countries the company plan to expand to include Belgium, Chile, Colombia, Nigeria, and South Africa. According to the report, the rollout and expansions will be between