Category: Banking Industry
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Zimbabwe to phase out US dollar in favour of own gold-backed currency
Zimbabwe’s cabinet has approved a roadmap to phase out the US dollar in favour of its own gold-backed currency, ZIG. Finance Minister Mthuli Ncube plans to present a de-dollarisation strategy next week.
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Top 10: Sustainable Banks
Fintech and panafrican.email takes a look at the top 10 most sustainable banks globally, highlighting their sustainable banking practices and initiatives Banks have the potential to play a pivotal role in promoting sustainability through their lending, investment, and governance practices. By prioritising environmentally and socially responsible projects, banks can drive significant positive change in various…
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Biggest Losers of the Day:
Crypto:Bitcoin: -15.91%ETH: -23.16%SOL: -21.22%BNB: -19.51%LINK: -27.87% Memecoins:BILLY: -45.59%MUMU: -43.83%MANEKI: -40.96%POPCAT: -40.19% Stocks:INTC: -26.97%TEAM: -17.76%SNBR: -17.39% Global Markets:Nikkei 225: -12.40%KOSPI: 8.77%Taiwan Stock Exchange: -8.35%FTSE 250: -4.14% BREAKING: Major trading platforms are reportedly experiencing outages. • Fidelity• E-Trade• Vanguard• TD Ameritrade• Charles Schwab
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Ethiopia amasses over $27 billion following macroeconomic reform implementation
The money has been raised through debt relief, international aid, and partnerships, state media reported, citing Finance State Minister Eyob Tekalign. The comprehensive policy aims to foster sustainable growth and inclusive benefits for citizens. With ongoing reforms across agriculture, mining, and tourism, the country has not only alleviated its debt burden from 30% to 17%…
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Feds Colluded With Big Banks to Spy on Americans’ Financial Transactions
The federal government conducted “broad,” “unjustified” surveillance of the private financial transactions of millions of Americans in the wake of events that took place on Jan. 6, 2021, at the U.S. Capitol, according to a report issued Wednesday by the U.S. House of Representatives Select Subcommittee on the Weaponization of the Federal Government. The report…
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More than 40% of the world’s countries support de-dollarization
Almost half of the world’s countries have already declared a boycott of the dollar to a greater or lesser extent. Since the beginning of this year, according to Sputnik’s analysis, six more countries have set foot on the path of de-dollarization. All the countries can be roughly divided into three groups: The first and largest…
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BRICS has the potential to challenge the current “archaic” global financial architecture, says Ethiopian Foreign Ministry Spokesperson
Speaking on the benefits of BRICS membership for African countries, including Ethiopia, which joined the bloc in January, Ambassador Nebiyu Tedla emphasized that engagement with BRICS should focus on advancing African countries’ own development agendas. “It is crucial for the African countries to ensure that any engagement with BRICS is aligned with their long-term economic…
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Plans have reached the advanced stage to launch the Economic Community of West African States (ECOWAS) single currency initiative
Plans have reached the advanced stage to launch the Economic Community of West African States (ECOWAS) single currency initiative, otherwise known as ECO. This was after the Nigerian government endorsed the initiative, which is envisioned to propel growth and development throughout the West African sub-region. The ECOWAS single currency has also been incorporated as a…
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Bahamas to regulate banks to offer cbank digital currency
The Bahamas, the first country in the world to issue a central bank digital currency (CBDC), is now preparing regulations that will require commercial banks to provide access to the e-money in a bid to stimulate adoption. John Rolle, the islands’ central bank governor, who oversaw the Sand Dollar’s launch nearly four years ago, said…
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Number of crypto ATMs installed nears its all-time record
The 2,564 cryptocurrency ATMs installed so far in 2024 are on track to surpass the 2,861 machines that were removed in 2023. The number of cryptocurrency ATMs installed worldwide has spiked 17.8% to 38,279 over the last 12 months — inching closer to its record of 39,541 set in December 2022. As of 2024, there…
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