Category: Pan African Banking
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Glitch allows Ethiopia bank customers to withdraw millions
Ethiopia’s largest commercial bank is trying to retrieve millions of dollars withdrawn by its customers after an incident it described as a systems glitch. More than $40m were reportedly withdrawn from the state-owned Commercial Bank of Ethiopia, or transferred to other banks, when customers found out they could take out more cash than they had…
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Top 10: Banks in the World
Despite a tumultuous 18 months for the sector, banks make up many of the world’s largest institutions. FinTech Magazine takes a look at the big players… Banking endured a rather tumultuous 2023, as the collapse of Silicon Valley Bank and Signature Bank, among others, sent shockwaves through the industry Then there was UBS’ cut-price takeover…
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Visa & Western Union Collaborate for Cross-Border Transfers
Visa and Western Union expand their collaboration to transform how money is transferred across borders using Visa Direct Leading payments processing company Visa has expanded its collaboration with Western Union by signing a new seven-year agreement that will enable Western Union customers to send money across borders to family and friends with eligible Visa cards. Visa will deliver this…
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Bitcoin Hits $73K, ETH Faces Downtrend
Crypto Price Today: Bitcoin soared to an astounding $73,000, the surge of 47% in the past monthCrypto Price Today: Bitcoin, the flagship cryptocurrency, has been on a remarkable ascent, defying skeptics and stunning investors worldwide. As it soared to an astounding $73,000, the surge of 47% in the past month and a staggering 199% increase…
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Easiest Ways to Transfer Bitcoin to Bank Account
Bitcoin transactions made easy: Navigating options for seamless conversions to your bank account As the popularity of cryptocurrency continues to grow, individuals are increasingly exploring ways for transferring Bitcoin into bank accounts and converting their cryptocurrency holdings into traditional fiat currency. Various methods exist, each offering unique advantages and considerations. In this article, we will…
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Bling Bishop’ Who Boasted of Ties to Eric Adams Is Convicted of Fraud
Lamor Whitehead was accused of using $90,000 of a parishioner’s retirement savings to buy luxury goods and trying to force a businessman to lend him $500,000. By Karen Zraick and Olivia Bensimon March 11, 2024 Lamor Whitehead, a Brooklyn preacher known as the “bling bishop” for his flashy luxury possessions, was convicted in Manhattan federal court on Monday…
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In Senegal, Dangote follows the phosphate vein
While in Dakar to be decorated by Macky Sall, Aliko Dangote announced an investment of one billion dollars in phosphate. A project considered for a time in Togo. Nigerian billionaire Aliko Dangote announced an investment of over $1 billion to develop a phosphate project in Senegal. The announcement came on Friday, February 2, following fruitful discussions…
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Binance to stop services in Nigerian Naira amid crackdown on crypto exchanges
Binance will stop all transactions and trading in Nigeria’s local currency after March 8 amid a country-wide crackdown on crypto exchanges that have been blamed by authorities for feeding a black market for foreign exchange. It will stop supporting withdrawals after Friday and any remaining balances in Nigerian Naira will be automatically converted into Tether…
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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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‘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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