Category: Banking Industry
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Cybersecurity Breach at Ugandaโs Central Bank: $17 Million Stolen, Probe Ordered
Uganda is in the spotlight following a major cybersecurity breach at the Bank of Uganda (BoU), with reports claiming that hackers siphoned off 62 billion Ugandan shillings (approximately $17 million). The government has ordered an investigation into the attack, which has sparked concerns about financial security in Uganda and across Africa. The Hack: What We…
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๐ฒ๐ฌMadagascar Faces Mobile Money Crisis Amid Tax Controversy
The mobile money sector in Madagascar is at a critical juncture following debates over a new proposed tax bill that many experts, businesses, and stakeholders are labeling as inefficient and dangerous for the country’s growing digital economy. Mobile money services are a lifeline for millions of Malagasy citizens, providing financial inclusion in a country where…
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XRP, DOGE Lead Crypto Losses as Weekend Pullback in Bitcoin Causes $500M Liquidations
BTC dropped more than 3.5% from its peak, as profit-taking led to a pullback from the near $100,000 mark late Friday. What to know: Bitcoin (BTC) pared last weekโs gains with a price drop from $98,500 to as low as $95,500 during late U.S. hours on Sunday, before recovering, in a move that sent the…
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The Rise of African and African-American Tech Companies: Market Disruptors with Cultural Roots
The tech industry is seeing a transformative wave led by African and African-American entrepreneurs who are reimagining digital solutions to address global challenges while celebrating cultural identity. Companies like Fanbase, BlueSky, Spill App, and panafrican.email are reshaping their respective niches with innovative platforms, strategic funding, and a strong focus on underserved markets. Fanbase: Monetizing Authenticity…
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๐ณ๐ฌ๐ฎ๐ณ India, Nigeria seek to renew long term partnership as PM Modi makes first visit
The Prime Minister of India, Narendra Modi, will be hosted by Nigerian President, Bola Tinubu as he embarks on a state visit to the Aso Rock Presidential Villa on Sunday, November 17. According to a statement issued by the Prime Ministerโs office, Modi will visit Nigeria, Brazil and Guyana on a five-day state visit. Modi…
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๐ง๐ผ Botswanaโs Leader Picks Deputy Gaolathe as Finance Minister
Botswanaโs new leader Duma Boko unveiled the names of six members of his cabinet, including economist and Deputy President Ndaba Gaolathe as his finance minister. โWe are here to mark the beginning of the delivery of the hopes and aspirations of the nation,โ Boko, 54, said in Gaborone, the capital, on Monday. โWe will make…
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Business Editorial: The Dark Arts of Growth Hacking Websites
This entry will focus on how some companies exploit metrics to create an illusion of growth, distorting their real value and deceiving investors. Tactics include shifting profitability projections, using misleading engagement metrics, or fabricating user activity through click farms and bots, a practice prevalent in both Web2 and Web3 spaces. In crypto, wash trading and…
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Kenya’s supreme court overturns ruling that nullified tax hikes
Kenya’s Supreme Court on Tuesday quashed a decision by an appeals court nullifying the 2023 finance law, a victory for the government after protests forced President William Ruto to withdraw this year’s finance bill. The finance bills form the main vehicle for the government to set out revenue-raising measures, and Ruto’s administration has been relying…
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JPMorgan sues customers over check fraud linked to glitch that went viral
NEW YORK, Oct 28 (Reuters) – JPMorgan Chase (JPM.N), the largest U.S. bank, has begun suing customers for check fraud, saying they improperly withdrew funds by taking illegal advantage of a temporary technical glitch that went viral on TikTok. The glitch in late August let customers deposit big checks in ATMs and withdraw funds immediately before…
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