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Category: Pan African Banking

Hackers Exploit Magento Bug to Steal Payment Data from E-commerce Websites

Threat actors have been found exploiting a critical flaw in Magento to inject a persistent backdoor into e-commerce websites. The attack leverages CVE-2024-20720 (CVSS score: 9.1), which has been described by Adobe as a case of “improper neutralization of special elements” that could pave the way for arbitrary code execution. It was addressed by the company as part of…
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April 8, 2024
Zimbabwe unveils new currency as depreciation, inflation stoke turmoil

 Zimbabwe on Friday launched a new currency to replace its previous one that in recent months has been battered by depreciation, and in some instances rejection by the population. Authorities hope the new measure will halt a currency crisis underlining the country’s yearslong economic troubles. Reserve Bank of Zimbabwe Gov. John Mushayavanhu said the…
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April 8, 2024
Top 10 African Countries Receiving Remittances: A Lifeline for Economies

Remittances, money sent back home by migrants living abroad, are a crucial financial lifeline for many African countries. These funds contribute significantly to household incomes, support families, and boost local economies. Here’s a look at the top 10 African nations receiving remittances from their diasporas: 1. Egypt: Topping the list, Egypt benefits tremendously from its…
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April 6, 2024
Reserve Bank of Zimbabwe introduces new currency

🇿🇼 Zimbabwe Gold (ZiG) will be issued in the form of banknotes and coins, Russian media reported, citing the head of the country’s Reserve Bank. All reserves of the Zimbabwean dollar will be transferred to the new currency, backed by reserves of foreign currency and precious metals mined in the country, said John Mushayavanu. The…
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April 5, 2024
7 highly rated real estate agents in South Africa

If you are a real estate investor and looking to enter the South African market, these top 7 highly rated real estate agents in South Africa could be your first stop: Jawitz Properties Founded in 1969, Jawitz Properties is one of the top real estate agents in South Africa with an outstanding reputation and has…
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April 5, 2024
UBA Unveils ‘Scan To Resolve Complaint’ Portal For Enhanced Customer Experience

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response solution code, qrdispute.ubagroup.com:8088, called the ‘Scan to Resolve Complaint’ portal aimed at enhancing satisfaction and swiftly addressing customers’ complaints. The innovative platform marks another significant step by the bank to revolutionise customer service and streamline complaint resolution processes. The ‘Scan to…
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April 5, 2024
Libya Blocks Access to All Oil Fields

🇱🇾 Security guards protesting at Libya’s oil fields have declared the blocking of access to all wells and ports used for oil exportation. As reported by the Al-Wasat portal, this decision comes after the expiration of a 10-day deadline set by the oilfield guards for the Abdel Hamid Dbeiba-led National Unity Government (NUG) to meet…
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April 5, 2024
United Arab Emirates as forth investor in Africa

In 2023, ties between the UAE and Africa reach their peak, marked by Abu Dhabi’s commitment to invest $4.5 billion in the continent’s clean energy. With a total of $60 billion committed from 2012 to 2022, the Emirates are the fourth largest investor in Africa over the last decade, behind China, Europe and the United…
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April 5, 2024
SWIFT declares second sandbox connector tests a success for CBDC and more

Having shown the application of its connector in complex use cases, SWIFT will continue to increase the connector’s functions. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network has released the results of the second phase of sandbox testing for its central bank digital currency (CBDC) interlinking solution, which it calls a connector. The…
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April 3, 2024
Apple Card Savings account rate dips for first time since launch

Nearly one year after it launched in the U.S., the Apple Card’s high-yield savings account will be receiving its first-ever interest rate decrease. 4.4% will still be a competitive rate compared to many other popular high-yield savings accounts, which typically offer rates between 4.25% and 5.25%. When the Apple Card’s savings account first became available, it…
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April 3, 2024