He stated that the exchange commission had halted the implementation of cryptocurrency assets guidelines due to a lack of access to Nigerian Deposit Money Bank accounts.
Browsing: North Africa Business
This is an indication of the dwindling purchasing power of Nigerians as it implies that Nigerians spent more on purchasing goods and services in the month of March, compared to February.
The startup which is operational in West Africa and Madagascar secured funding from the Energy Entrepreneurs Growth Fund (EEGF), which is managed by Triple Jump, and the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI-OGEF), which is managed by the LHGP Asset Management.
Top East African banks increased provisions for bad debts by over $736 million in 2020 to reduce exposure on household and business loans in the countries ravaged by the Covid-19 pandemic, affecting impacting profitability and returns to shareholders.
The East African countries look to borrow more than $750 million in syndicated loans to cushion the economic impact of the Coronavirus pandemic as Kenya, Uganda, South Sudan, and Tanzania have all been seeking either syndicated loans or special drawing rights from the International Monetary Fund (IMF), as they seek to revive economies experiencing the pandemic-induced shocks.
This means that the start of the trade talks could be delayed and the objectives of the bilateral pact revisited to recognize President Biden’s agenda with some of the aims of the negotiations set by the Trump administration likely to be changed.
The Nigerian government is set to recover more bad loans. About N5.2 trillion debt owed Africa’s largest economy by some individuals and firms are expected to…
Nigeria is reportedly the world’s largest producer of yams, with 17 million tonnes annually, accounting for over 70–76 percent of global production. Most of this supply comes from the North Central state of Benue.
Nigerian Fintech company Flutterwave is teaming up with U.S. payments giant PayPal to enable PayPal customers pay African merchants through its platform, the Africa-focused payments firm…
Africa’s economy contracted by 2.1% in 2020 following the COVID-19 pandemic. The African Development Bank (AfDB) has projected a 3.4% recovery in 2021 as most African economies are reshaping for growth and stability.