Category: International Business & Finance
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SUNU plans to immortalise founder with Pan-African prize
The SUNU Group has revealed plans to institute a pan-African prize to immortalise its late founder and president, Mr. Pathe’ Dione. In a statement shared with our correspondent on Monday, the group said the country be instituted in Dione’s honour because he had left a legacy in all the countries where the company operates. The…
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Pan African storms back but investors sit on sidelines
PAN African Resources CEO Cobus Loots rowed back on comments the company could produce more gold than forecast saying on Wednesday current guidance of 180,000 ounces for the 12 months ended June would represent “an excellent performance”. Gold production for the six months was 6.7% higher year-on-year at some 98,458 oz, higher than a 94,000 to 98,000…
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Capital One’s Takeover of Discover: All you Need to Know
Capital One’s proposed US$35.3bn acquisition of Discover Financial would bring together two of the largest credit card companies in the US This week we heard Capital One is set to acquire Discover Financial in what would represent one of the biggest deals in financial services in recent years. The US$35.3bn, all-stock transaction would bring together two of the largest…
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Washington Wants to Revive a Critical Minerals Mega-Railway Through Africa
The move comes straight out of China’s Belt-and-Road playbook. As geopolitical tensions electrify the global scramble for critical minerals—the raw materials that underpin advanced defense systems and clean energy technologies—the United States and China have been racing to expand their influence over the mineral market in Africa. The world’s F-35 fighter jets, electric vehicle (EV)…
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Liberia: US$1B Needed to Address Electricity Shortage
— LEC Proposes the construction of reservoir to supply Mt. Coffee Dam Addressing Liberia’s perennial power crisis will require significant financial investment, with the Liberia Electricity Corporation (LEC) estimating that between US$700 million to US$1 billion is needed for the construction of a reservoir to alleviate the electricity issue. The lack of a sufficient reservoir…
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Meloni presents plan to strengthen Africa’s position — but to whose benefit?
Italian Prime Minister Giorgia Meloni has been shifting the focus of her immigration policy from a rhetoric centered around clamping down on irregular boat arrivals to one of seeking fresh ways to empower the African countries they tend to hail from. At a Monday summit in Rome, the far-right Italian leader pledged to reshape her…
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Capital One Could Buy Discover In Major Credit Card Merger
Capital One is considering acquiring Discover Financial, multiple outlets reported Monday, a move that would combine two of the nation’s largest credit card companies and reportedly create the single biggest U.S. credit card firm by volume of loans. KEY FACTSThe Wall Street Journal reported a deal could be announced as early as Tuesday, citing sources…
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‘Two taps and someone’s life savings could be gone’: Venmo, Zelle and Cash App fraud is ‘skyrocketing’, top District Attorney warns, demanding companies do more to protect users
Venmo, Zelle and Cash App are leaving customers vulnerable to theft, a top District Attorney has said Manhattan District Attorney Alvin Bragg accused the instant payment apps of putting customers at risk of fraud which is ‘draining bank accounts of significant sums of money.’ Bragg sent letters to the popular apps demanding that they increase…
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The history and evolution of the fintech industry
The fintech industry has evolved from early adopters using technology to automate financial services to a comprehensive revolution of the financial sector. The financial technology (fintech) industry has its roots in the late 20th century, with the advent of electronic banking and online stock trading. Since then, fintech has expanded and changed over time as…
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10 African countries with the strongest currencies in 2024
Having a strong currency provides numerous benefits to African economies, ranging from increased purchasing power and attracting foreign investment to lower import costs and more international trade. While monetary strength is frequently associated with stability and prosperity, the benefits go far beyond mere symbolism. As a result, governments have been tasked with strengthening their currencies.…
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