African Loans

East Lansing MSU Federal Credit Union started 85 years ago

EAST LANSING — MSU Federal Credit Union may have had humble origins, first operating out of a college professor’s desk drawer, but in 85 years it has grown to more than 300,000 members and about $7 billion in assets. Eight members of the university’s faculty and staff founded the Michigan …

Read More »

Barbados spearheads climate disaster financing

SHARM EL-SHEIKH, Egypt – At the UN climate summit in Egypt, developing country leaders repeatedly said it was unfair to expect them to cover the costs rebuilding after devastating weather events in a warming world, and investing in cleaner industry while also paying much higher interest rates on loans than …

Read More »

‘Just’ energy transitions need more transparency, less gas | Climate crisis

Soaring energy prices in Europe caused by Russia’s war in Ukraine have given new impetus to fossil fuel projects in Asia and Africa, especially those involving gas. Leaders attending the G20 summit which kicked off in Indonesia today and the ongoing COP27 climate summit in Egypt are expected to push …

Read More »

Businesses urged to step up fight against climate change

With growing climate uncertainties and growing financial needs for climate change adaptation and mitigation, Commonwealth member countries want to see business play a bigger role in tackling climate change. An official side event co-hosted by the Commonwealth Secretariat and the governments of Saint Lucia, Namibia and Zambia at the UN …

Read More »

Could taxes on polluters finance losses and damages?

Sign up to receive our weekly newsletter straight to your inbox, along with the latest news, surveys and additional bulletins on key events The pointing finger at who pays climate victims continues. American John Kerry has hinted that China, now the (far) second largest historical emitter in the world, should …

Read More »

Africa should demand justice and adequate funding at COP27

Members of the environmental organization CERIOPS take part in a mangrove restoration exercise in Mombasa. [Courtesy, CERIOPS] The world is heading to the Egyptian resort of Sharm El Sheikh this week for the 27th World Climate Change Conference. For a conference whose objectives include reducing carbon emissions, it would be …

Read More »

Is Pakistan’s economy moving in the same direction as Sri Lanka’s?

Sri Lanka is currently in the throes of a vicious economic collapse and it is essential to assess and compare the economic situation in Sri Lanka and Pakistan against the backdrop of the global economic crises that have ravaged developing countries. Pakistan has a large debt, high inflation, soaring unemployment …

Read More »

East Africa’s economic recovery teeters on debt and budget deficits

By JAMES ANYANZWA The growing risk of debt distress, widening fiscal and current account deficits and limited economic diversification plans in East African economies have combined to weaken growth prospects this year. The African Development Bank projects that the region’s GDP will stand at 4% this year, before recovering to …

Read More »

New York State Department of Financial Services Reaches Settlement with Bank Over Alleged Fair Lending Violations Involving Auto Dealer Markups | Troutman pepper

On October 6, the New York State Department of Financial Services (NYDFS) announced a consent order with Rhinebeck Bank (Rhinebeck) to resolve allegations that, in violation of New York Executive Law Section 296-a, the bank instituted discretionary dealer mark-up policies that resulted in a disparate impact that affected negatively the …

Read More »

Kenya: I will reduce the appetite for the debt by widening the tax base – President Ruto

NAIROBI – President William Ruto urged the Kenyans to pay taxes to allow the government to fulfill its mandate so that Kenya is an independent nation. The Head of State during a Grace Action Service in the district of Kitui Central said that it would be the viable solution to …

Read More »

Mobility Fintech Moove raises £15m funding facility from Emso Asset Management to expand its UK operations

LONDON, October 19, 2022–(BUSINESS WIRE)–Moove, the world’s leading mobility fintech and Uber’s largest vehicle delivery partner in EMEA, announces it has raised £15m in funding from Emso Asset Management to expand operations in the UK after a successful launch in August. Moove launched in London in August with a 100% …

Read More »

Ghana: Omnibsic Bank supports the economy with 714 million Gh¢ … posts a profit of 36.9 million Gh¢ in the third quarter

OmniBSIC Bank expanded its support for businesses and the economy in general with strong growth in loans and advances granted to businesses and individuals in the third quarter of the year. The bank increased its loan portfolio by 112.7% in the third quarter of this year to reach GH¢714.3 million …

Read More »

DFCU wins lawsuit against former owners of Crane Bank but its finances are faltering

By BERNARD BUSUULWA Investors in Ugandan firm DFCU Ltd fear a lawsuit brought by former Crane Bank shareholders in a London court has undermined the company’s financial performance. Although the institution won the case, it did not declare dividends for 2021, suggesting that the legal battle had affected its credibility …

Read More »

Do not wait to rework your debts

(Bloomberg) – Zambian Finance Minister Situmbeko Musokotwane has urged other African nations to consider using the Group of 20 Common Framework mechanism to restructure unaffordable debt to act quickly. Bloomberg’s Most Read Africa’s first pandemic-era sovereign defaulter used the model to rework external liabilities totaling $12.8 billion. In recent weeks, …

Read More »

Detroit Eight Mile Wall, once used to separate blacks and whites, becomes historic

Detroit Birwood Wall, former racial divide, designated as a historic site A wall used to separate blacks and whites in Detroit is now a historic site. The Birwood Wall was built in 1941 to help a developer get home loans that black people were not eligible for. DETROIT (FOX 2) …

Read More »

Human rights groups and China speak out loudly and oppose reactions to UN vote

Washington— Beijing pointed to failed efforts by the United States and some Western countries to discuss China’s human rights record in Xinjiang at the UN Human Rights Council last year. next. Uyghur rights groups have expressed strong disappointment. In a statement released by China’s Foreign Ministry on Friday, a spokesperson …

Read More »

8B Education Investments launches $111,600,000 initiative to fund education for African students

The partnership, made possible by 8B’s use of what officials called innovative credit enhancement to secure losses incurred by Nelnet over the life of the loan program, marks the first loan program from a US-based bank. United States to African students enrolled in American schools. NNPA Newswire 8B Education Investments, …

Read More »

Namibia: African Development Bank Board of Directors Approves $134.9 Million Loan for Phase II of Post-Covid-19 Economic Recovery Support Program | African development bank

The Board of Directors of the African Development Bank has approved a loan of 2.3 billion South African rands (134.9 million dollars) to co-finance the second phase of the support program for governance and Economic Recovery of Namibia (GERSP II). The funds will support Namibia’s resilience and inclusive post-Covid-19 economic …

Read More »

Côte d’Ivoire: The African Development Bank signs a $400,000 grant agreement with Caisse des dépôts to support micro-enterprises. | African development bank

The African Development Bank has signed a $400,000 grant agreement with the Caisse des dépôts et consignations de Côte d’Ivoire (CDC-CI). The funds will help the CDC-CI to accelerate its assistance activities to small and medium-sized enterprises in Côte d’Ivoire. The agreement was signed on September 27, 2022 in Abidjan. …

Read More »

African leaders and global partners pledge urgent cooperation to avert food security crisis | African development bank

African leaders and governments in Europe, Asia and the Americas on Tuesday pledged to act “urgently, at scale and in concert” to respond to the ongoing food insecurity and nutrition crisis that is takes place in the world. The leaders, representing the African Union, European Union, United States, Spain, Colombia, …

Read More »

4G Capital Recognized by the International Finance Corporation (IFC) and the SME Finance Forum for Global Responsible Digital Innovator of the Year

4G Capital (www.4G-Capital.com), a market-leading neobank powering the growth of micro and small businesses in Kenya and Uganda, received an honorable mention for Responsible Digital Innovator of the Year at the 2022 Global SME Finance Forum Awards (https://bit.ly/3Soylrh) on September 21st. Organized by the SME Finance Forum, created by the …

Read More »

South African retailer Shoprite takes on the largest sustainable loan and the first green loan in the retail sector

South Africa’s Shoprite Group is expanding its core environmental programs as part of its sustainability strategy. One of the main elements of this strategy is the accelerated deployment of solar photovoltaic energy in its supermarkets and distribution centers. Shoprite operates in 11 African countries. The Group has more than 2,900 …

Read More »

Will it help strengthen bilateral relations?

William Ruto has spoken publicly about the debt stress caused by Chinese loans and is seen by many as someone who can balance China’s overpower in Kenya. New Delhi: Kenya’s Supreme Court has upheld the result of the August 9 presidential election. He agreed with the Independent Electoral and Borders …

Read More »

Biden and South African leader to discuss Ukraine, trade and climate

WASHINGTON (AP) — President Joe Biden hailed South Africa as a vital voice on the world stage as he welcomed President Cyril Ramaphosa to the White House on Friday for talks that focused on the two nations’ differences. about Russia’s war in Ukraine and more. In a brief media appearance …

Read More »

South African lender FirstRand reports 22% increase in full-year profit

Add details JOHANNESBURG, September 15 (Reuters) – South African lender FirstRand Ltd FSRJ.J on Thursday reported a 22% rise in full-year profit, near the middle of its estimated range, as the bank continued to benefit from a rebound in economic activity. The continent’s largest bank by market capitalization posted overall …

Read More »

Tanzania: Crdb has the highest market share in the mortgage sector

CRDB Bank dominates the home loan market by more than a third, with an immediate competitor lagging far behind. The bank is in charge of 33 lenders who handle the country’s mortgage business, with 38.05% compared to second-placed Stanbic Bank with 8.11% in mid-June. According to the Central Bank’s Tanzania …

Read More »

Egypt and African Development Bank launch new Country Strategy 2022-26 at Egypt-ICF

The Egyptian Ministry of International Cooperation and the African Development Bank (AfDB) on Thursday launched the new country strategy 2022-2026 on the sidelines of the Egypt-International Cooperation Forum (Egypt-ICF 2022). The launch ceremony saw the participation of the Minister of Environment, Yasmine Fouad, Kevin Orama, Vice President of the African …

Read More »

Historically, black colleges in the Carolinas have high percentages of students with federal loans, the data shows; take a “deep breath” at JCSU

Students and alumni of historically black colleges are likely to be among the biggest beneficiaries of President Biden’s plan to forgive student loan debt. This is because students at these schools are far more likely to receive federal loans than their peers elsewhere. In addition, their student loan balances are …

Read More »

Why Biden’s Student Loan Forgiveness Plan Helps Us All

The Biden administration’s student loan debt relief plan has caused an outcry among those who argue that college graduates get preferential treatment at the expense of hard-working, self-sufficient tradespeople. It’s wrapped up in the language of fairness, but this discussion divides classes. And it misses the overall vision and value …

Read More »

Fall 2022 Visual Arts Guide: Art Institute showcasing the arts of Africa in a major exhibition

When people think of the Art Institute of Chicago, African art is probably not the first thing that comes to mind, according to a museum curator. “This is one of our great challenges or initiatives or ambitions – to make it better known,” said Constantine Petridis, museum president and curator …

Read More »

It’s a ‘serious problem’ that student loan borrowers still face hurdles in getting out of debt through bankruptcy, says Elizabeth Warren

Massachusetts Senator Elizabeth Warren renews call to restore bankruptcy protection for student loan borrowers. Last week, President Joe Biden took a major step in bringing relief to millions of borrowers by announcing up to $20,000 in student loan forgiveness for those earning less than $125,000 a year. While this relief …

Read More »

Chandaria recovers foreclosed business as banks forfeit 6 billion shillings loan

Companies Chandaria recovers foreclosed business as banks forfeit 6 billion shillings loan Wednesday, August 31, 2022 Billionaire industrialist Manu Chandaria, chairman of the Comcraft group. FILE PHOTO | NMG NCBA Group and Co-operative Bank have divested a business they seized from billionaire Manu Chandaria’s Comcraft Group after forgoing 6.6 billion …

Read More »

A union of economic giants

Courtesy of Lekki Port Posted on August 28, 2022 at 9:35 p.m. by Brian Gicheru Kinyua Since China began implementing the BRI (Belt and Road Initiative) in 2013, it has gained considerable access to strategic infrastructure in developing countries. To date, the BRI is the largest development program ever undertaken …

Read More »

DisCos takeover and N5tr loan worry stakeholders | The Guardian Nigeria News

• The underperforming electricity sector is heavily indebted• New strike looms as workers clash with investors The takeover of distribution companies (DisCos) and their N5 trillion debt to banks and government is causing anxiety in the industry. Moreover, the confrontation between the federal government and the power companies may be …

Read More »

These student borrowers are excluded from Biden’s $10,000 debt forgiveness

Biden announced Wednesday that the administration would forgive $10,000 in student debt for borrowers earning less than $125,000 a year. The move fulfills a key campaign promise and comes after months of speculation about payments resuming without any permanent relief. Yet the devil, as always, is in the details. The …

Read More »

Stakeholders Lament CBN Interest Rate Reversal on Intervention Loans

The decision by the Central Bank of Nigeria (CBN) to reinstate the interest rate on its Covid-19 response facilities has drawn anger from stakeholders as well as experts, whose opinion is that the action will not be This does not bode well for beneficiaries as the country faces inflation pressure …

Read More »

China cancels 23 loans for 17 African countries, expands ‘win-win’ trade, infrastructure projects

The Chinese government has announced that it is waiving 23 interest-free loans for 17 African countries, while pledging to deepen its collaboration with the continent. This is on top of China’s cancellation of more than $3.4 billion in debt and the restructuring of around $15 billion in debt in Africa …

Read More »

Roam and M-KOPA sign a major supply agreement for the deployment of electric motorcycles in Africa

Roam, formerly known as Opibus, has signed a major supply contract with M-KOPA. M-KOPA is a fintech platform that provides credit and digital financial services to underbanked consumers in Africa. This is one of the very first large-scale supply agreements for electric motorcycles in Africa. The deal will allow electric …

Read More »

Here’s One Reason America’s Racial Wealth Gap Persists Across Generations

Jennifer Luden August 13, 2022 Angela Chevaux and her husband make a good living in York, Pennsylvania. She’s an insurance claims supervisor and he’s in construction. Yet a recent inheritance from her stepfather changed her life. He left them a retirement account, a life insurance policy, an annuity – and …

Read More »

Two African nationals arrested for selling fake visas in Delhi

The accused had come to India on a three-month tourist visa in 2018 but did not return The accused had come to India on a three-month tourist visa in 2018 but did not return Two African nationals have been arrested for allegedly forging fake Indian visas and selling them to …

Read More »

CVS Eyes Signify Health will expand its services

CVS is reportedly looking to buy healthcare platform Signify Health, which would allow the pharmacy chain to expand into home healthcare services. Signify has explored “strategic alternatives,” which could include a sale, according to a Wall Street Journal report on Sunday (August 7) ​​citing unnamed sources. The initial offers are …

Read More »

Weary and wary Kenyans prepare for national elections

NAIROBI, Aug 4 (Reuters) – East Africa’s economic powerhouse will hold elections on August 9 to choose a new president, parliament, county governors and assemblies. President Uhuru Kenyatta will step down after serving his constitutionally permitted 10 years. Many voters want change, frustrated by corruption and soaring prices. But the …

Read More »

African Development Bank Group Appoints Marie-Laure Akin-Olugbade as Acting Vice President for Regional Development, Integration and Business Delivery | African development bank

The African Development Bank has appointed Ms. Marie-Laure Akin-Olugbade, née Ndongo-Seh, as Acting Vice President of its Regional Development, Integration and Business Delivery Complex, effective August 1, 2022 . Akin-Olugbade, a Cameroonian national, is currently the Managing Director of the Business Development and Delivery Office for the Bank Group’s West …

Read More »

Six years of effective leadership @ UBA

Mr. Kennedy Uzoka, GMD, UBA. July 31 (THEWILL) – Mr. Kennedy Uzoka turns six this week, August 1, 2022, in the exalted position of Managing Director/Group Managing Director (GMD/CEO) of the African World Bank, United Bank for Africa (UBA) Plc. When UBA Chairman Mr. Tony Elumelu ‘unveiled’ Mr. Uzoka as …

Read More »

The CADTM participates in the European Summer University 2022, in Mönchengladbac, from August 17 to 21

In addition to forums, plenaries and numerous workshops on the main issues we deal with and fight (fiscal and climate justice; defense of public interests commons Commons In economics, commons are characterized by the fact that they belong to the community, as opposed to private or public ownership. In philosophy, …

Read More »

NGO offers interest-free loans to 600 women in Ondo

Determined to ensure the financial and economic inclusion of women in society, a non-governmental organization, Dr Rhoda Makinde Initiative (DROMI), has launched an interest-free loan program to support no less than 600 women in small and medium-sized enterprises in Ondo State. The interest-free loan program which is tagged “Let my …

Read More »

Is the United States a beacon of human rights for the world?

An American flag flies in front of the dome of the United States Capitol in Washington, January 15, 2020. [Photo/Agencies] Human rights for all are the common pursuit of humanity. While the global cause of human rights has seen rapid progress, the human rights situation in the United States has …

Read More »

KCB and equity banking units seek receivership of Kigali business center

By MOSES K. GAHIGI The Rwandan subsidiaries of the Kenyan banks KCB and Equity are requesting the placement in receivership of Kigali Business Center for defaulting on the repayment of a 16 million dollar loan owed to the two lenders. BPR Rwanda – a subsidiary of KCB after the merger …

Read More »

How Bank of Industry is driving Nigeria’s industrial growth

  Author: Olukayode Pitan, Managing Director, Bank of Industry July 15, 2022 For any nation, industrialization is the foundation for job creation, poverty reduction and economic growth. As Nigeria’s premier development finance institution (DFI), Bank of Industry (BOI) has a mandate to finance the country’s emerging industrial sector. By providing …

Read More »

Unions and banks keep South Africa’s dirtiest utility running

The utility generates most of its electricity from 15 aging coal-fired power plants, for which it has long won waivers on emission limits for soot, nitrogen oxides and sulfur dioxide ( N/A2) When coal reacts with oxygen, it forms small acidic particles – sulfur dioxide – which can enter the …

Read More »

Latvia brings back its military project to “reduce the risk” of a Russian attack

Latvia’s Defense Ministry said on Monday the Baltic country was rolling back its military plan to ward off a Russian attack, a move prompted by Russia’s unprovoked invasion of Ukraine. The ministry said in a statement that conscription for males between the ages of 18 and 27 will be phased …

Read More »

Accelerating self-financing in French-speaking Africa

Nigerian automotive technology company Autochek has announced the acquisition of CoinAfrique, the leading classifieds platform in French-speaking Africa, to accelerate the penetration of its self-financing services in French-speaking Africa. Autochek aims to create digital solutions that will enhance and enable a seamless and secure automotive commerce experience across Africa. The …

Read More »

The G7 fights to present a credible alternative to China’s Belt and Road

Following the global financial crisis of 2008, China had to find ways to deploy its huge foreign exchange reserves and industrial and construction overcapacity. This led to the creation of the Belt and Road Initiative (BRI), a multi-trillion-dollar global infrastructure financing program that enabled China to provide dollar-denominated infrastructure loans …

Read More »

Pediatrician, two girls killed in North Buffalo fire | Local News

A Buffalo pediatrician and two of his daughters died in a nighttime fire in North Buffalo, according to the Buffalo Fire Department. The mother was in serious condition after inhaling smoke from the fire at 194 Huntington Ave. She was taken by ambulance to Erie County Medical Center. Relatives have …

Read More »

Governments and donor agencies around the world are doing a lot to strengthen the formal economy – but not all their efforts are successful | D+C

In developing and emerging economies, governments are struggling to move businesses from the informal to the formal sector. In this context, donor agencies can have both positive and negative influence. This is evident in sub-Saharan Africa for example. The informal economy does not have a good reputation in western industrialized …

Read More »

China offers Zimbabwe a modern parliament

By KITSEPILE NYATHI China has gifted Zimbabwe a new, modern parliament building to replace the current structure built during colonial times as Beijing continues to strengthen its influence over the southern African country. The imposing structure spans 33,000 square meters and includes a six-story office complex and a four-story building …

Read More »

Policy Watch: why developing countries are calling for science-based adaptation goals

Women carry containers after filling them with water at an abandoned stone quarry in Badama village in India’s northern state of Uttar Pradesh May 4, 2022. REUTERS/Ritesh Shukla Join now for FREE unlimited access to Reuters.com Register June 24 – Political will was the missing ingredient at the climate meeting …

Read More »

Statement by President Akinwumi A. Adesina, African Development Bank Group: G-7 Ministerial Conference on “United for Global Food Security”, June 24, 2022 [EN/AR/PT] – World

Statement by President Akinwumi A. Adesina, African Development Bank Group: G-7 Ministerial Conference on “United for Global Food Security”, June 24, 2022 [EN/AR/PT] – World

Attachments I would like to thank the ministers Baerbock, Schulze and Cem Ozdemirfor inviting me to this G7 ministerial meeting on global food security. I applaud the leadership of Chancellor Olaf Scholz and the German G-7 Presidency on the “Global Alliance for Food Security”. The African Development Bank will be …

Read More »

march to Kigali with over 300 supporters calls on leaders to eliminate malaria and neglected tropical diseases (NTDs) in Africa | The Guardian Nigeria News

Every two minutes, an African child dies of malaria. The continent represents more than 90% of malaria deaths worldwide and more 40% of global load neglected tropical diseases (NTDs). The Kigali Summit is a historic opportunity for world leaders to reaffirm their commitment to ending malaria and NTDs. KIGALI, Rwanda, …

Read More »

Jonathan Jackson toasted on social justice issues at town hall

Jonathan Jackson late Monday night gave strong support for social justice issues such as abortion rights and reparations during a town hall meeting held at the New Covenant Missionary Baptist Church led by Pastor Stephen J. Thurston . The questions were answered by Chicago Crusader journalist Erick Johnson and N’DIGO …

Read More »

Nigeria: Faced with inflationary pressures, banks raise maximum lending rate to 27.79%

Following a spike in inflation in April this year, Nigerian banks increased the maximum lending rate on loans and advances to customers from 26.61% in March 2022 to 27.79% in April, indicating an increase of 4.43% or 1.18 basis points. THISDAY’s survey found that Nigerian banks have consequently increased lending …

Read More »

Refugees benefit from financial inclusion in Kenya thanks to a microcredit project

Nairobi, Kenya— In Kenya, efforts are underway to better integrate refugees ahead of the planned closure of camps that house more than 400,000 people, mainly from Somalia, South Sudan and Congo. A project, supported by the International Rescue Committee, provides refugees with microloans to start small businesses. Congolese refugee Enock …

Read More »

CrossBoundary Energy Access raises $25M from ARCH, Bank of America and Microsoft Climate Innovation Fund to fund solar-powered mini-grids in Africa

Cross-Border Energy Access (CBEA) (www.CrossBoundary.com/Energy-Access) will deploy a total of $50 million in capital into its near-term pipeline of solar mini-grid portfolios. The CBEA plans to deploy $150 million to bring clean energy to one million people in Africa. Supports United Nations Sustainable Development Goal number seven (SDG7), affordable and …

Read More »

Senior Advisor to Abu Dhabi National Oil Company (ADNOC) to explore regulation, financing and gender diversity as part of Africa Energy Week 2022

House ” General ” Senior Advisor to Abu Dhabi National Oil Company (ADNOC) to explore regulation, financing and gender diversity as part of Africa Energy Week 2022 The African Energy Chamber (AEC) is proud to announce that Sara Al Awadhi, Senior Legal Counsel at Abu Dhabi National Oil Company (ADNOC), …

Read More »

We can end child labor in Africa. Here’s how.

Children working in Kasulu, Tanzania. (Photo by: BSIP/Universal Images Group via Getty Images) “We should not wait for development to end child labour. On the contrary, ending child labor is the key to sustainable development. says ILO Assistant Director-General and Regional Director for Africa, Cynthia Samuel Olonjuwon. With 92 million …

Read More »

How Zimbabwean Refugees Became One of South Africa’s Top Sommeliers

Erica Platter’s last name will be familiar to anyone familiar with South African wine. A journalist turned winemaker, she and her journalist husband John launched Platter’s 1978 Guide to South African Winesa paperback modeled shamelessly on Hugh Johnson’s annual. The Platters’ guide was initially rejected by the South African winery, …

Read More »

Hide Buffalo’s history of racism behind a cloak of unity

Tension choked the air as a three-meter-tall cross, wrapped in gasoline-soaked rags, burned wildly, as if to set the night on fire. The cross burned in the fall of 1980, on Jefferson Avenue, which runs through several black neighborhoods that make up the East Side of Buffalo, New York, and …

Read More »

Africa’s first full-service vaccine facility to be built in Senegal — Quartz Africa

Senegal will host Africa’s first full-service vaccine manufacturing plant, after the Pasteur Institute in Dakar and the European Investment Bank (EIB) announced an $80 million financing deal to respond to diseases on the continent. The new facility, dubbed Madiba (Made in Africa for Disease Vaccination and Building Autonomy) will be …

Read More »

South Africans to sell stake in Southern Sun Ikoyi Hotels to Kasada Group for $30.4m

The South African company Southern Sun Africa (SSA) is selling its 75.55% majority stake in Southern Sun Ikoyi Hotels, one of Nigeria’s largest business hotels. Nigerian entities hold the remaining 24.45%. The deal is valued at around $30.4 million, including $29.1 million in stock and an additional $1.3 million in …

Read More »

Loan shark in court for breach of National Credit Act

A suspected loan shark was recently arrested and appeared in Culcutta Magistrates Court for breaching the Nationa Credit Act. LOAN SHARK ARRESTED IN JOINT OPERATION Major General Zodwa Mokoena, Provincial Head of the Priority Crimes Investigations Directorate, highly commended the integrated multi-disciplinary operation being carried out by the Nelspruit-based Hawks …

Read More »

Bankers pressure CBK to approve risk-based loans

Capital markets Bankers pressure CBK to approve risk-based loans Monday, May 30, 2022 The Central Bank of Kenya, Nairobi, on Sunday November 22, 2020. PHOTO | DENNIS ONSONGO | NMG The banks have asked the Central Bank of Kenya (CBK) to approve risk-based lending more widely, noting that the current …

Read More »

Eyes on EA central banks as major continent economies hike lending rates

By VINCENT OWINO East Africans are watching their central banks as inflationary pressures push major economies across the continent and even the world to raise lending rates. Nigeria, South Africa, Egypt and Ghana have recently raised central bank rates citing the need to promote macroeconomic stability. Loan rate It comes …

Read More »

TRADE X opens new office in Lagos, Nigeria to meet growing automotive demand in Africa’s largest economy

The TRADE X global automotive trading platform and the new Lagos the facility will link car dealerships in the West African nation to suppliers of North America, Europeand Asia. TORONTO, May 26, 2022 /PRNewswire/ — TRADE X, a B2B cross-border automotive trading platform based in Ontario, Canadatoday announced the opening …

Read More »

Access AFC’s $2 billion facility fund for space projects

Despite funding constraints, space technologies are critical to advancing societal well-being and long-term growth in the recovery from the COVID-19 pandemic. The Africa Finance Corporation (AFC) $2 billion facility fund is made available to NewSpace companies and organizations to support space projects for sustainable development. The space economy is an …

Read More »

Security concerns and lack of support block Africa’s green wall | world news

By WANJOHI KABUKURU and SAM MEDNICK, Associated Press OUAGADOUGOU, Burkina Faso (AP) — A series of complex challenges, including a lack of funding and political will as well as growing insecurity linked to extremist groups al-Qaida and Islamic State in Burkina Faso, are hampering progress in the Great Green Wall …

Read More »

AfDB Board Approves $1.5 Billion Facility to Avert Food Crisis in Africa

the African Development Bank (ADB) The group’s board of directors announced that it had approved a $1.5 billion facility to help African countries avert a looming food crisis on the continent. In a statement issued by the bank on Friday, the bank said that with the disruption of food supplies …

Read More »

Pan-African lender: intermediary cities to manage the rural-urban influx

African countries should improve essential amenities such as housing, education, drinking water and health in intermediate cities on the continent and enable them to act as buffers against uncontrolled rural-urban migration, de senior officials of a pan-African lender. Babati Mokgethi, senior urban development officer at the African Development Bank (AfDB), …

Read More »

South End Coffee entrepreneur wins WA Small Business of the Year award

by Elizabeth Turnbull Efrem Fesaha had an ambitious dream: to bring a unique coffee experience to Seattle, one of the coffee capitals of the world. And now, in 2022, he has been recognized for it, receiving the title of both Washington Small-Business Person of the Year and Pacific Northwest Small-Business …

Read More »