Category: Pan African Banking
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Yellow Card Partners with PayPal to Accelerate Crypto Adoption and Financial Inclusion
Yellow Card, a fintech company on the African continent operating across 20 countries, has launched PayPal USD (PYUSD), the stablecoin from PayPal, issued by blockchain and digital asset solution provider Paxos Trust Company. According to Yellow Card, which offers a crypto exchange, cross-border payments powered by crypto, as well as an API suite for companies to on-and-off-ramp anyone…
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Zimbabwe turns to BRICS bank for funding
Zimbabwe intends to join the New Development Bank (NDB), the multilateral bank set up by the vibrant BRICS states, to expand sources of capital for infrastructure development, according to Finance, and Economic Development Minister Professor Mthuli Ncube. Mthuli revealed this in an interview with CGTN Africa, an African division of China Global Television Network, the…
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In Zimbabwe, digital gold beats bitcoin
The Reserve Bank of Zimbabwe is trying something new. Or rather, something very old. You think you’ve got problems? Consumer price inflation in Zimbabwe is running at 75% a year. And that’s only the official rate. The International Monetary Fund thinks it’s nearer 175%. Either way, you get your paycheck and you run, not walk,…
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African Bank acquires Grindrod Bank in R1.5-billion deal
JOHANNESBURG (May 26, 2022) – African Bank has acquired 100% of Grindrod Bank which will allow it to accelerate its entry into the South African business banking sector. Grindrod Bank is wholly owned by Grindrod Limited.The deal is worth R1.5-billion. African Bank’s CEO Kennedy Bungane says, “Following the release of our successful half-year results this…
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Kenya is the hotbed for FinTech innovation in Africa in 2022, attracting the most seed deals in H1
Kenya was the most active FinTech seed country in the first half of 2022 with 11 deals, a 28% share of total FinTech seed deals in Africa. Nigeria was the second most active with eight deals and South Africa was third with five deals. PayTech was the most active FinTech sector for seed transactions on the…
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