Category: Pan African Banking
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Gabon: Announces the discovery of a new oil field with an estimated reserve of 300 million barrels.
China National Offshore Oil Corp (CNOOC) could expand its Gabon deepwater portfolio in the case of a positive result from the recently spud Tigre 1 new field wildcat, targeting the pre-salt Gamba sandstones of Aptian age. Although there have been gas discoveries in the area, CNOOC have clearly indicated that they are targeting an oil…
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16 African banks that offer instant deposit, PayPal,Google Pay and Apple Pay integration:
Across Africa, the mobile revolution has brought not just communication but also a wave of financial inclusion. Instant deposit platforms, PayPal, Google Pay, Apple Pay and CashApp are playing a vital role in this transformation. These services offer: However, challenges remain. Limited internet access and digital literacy require further infrastructure development and education. Additionally, ensuring…
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SoFi Introduces Small Business Financing Marketplace
SoFi (NASDAQ: SOFI), the digital personal finance company, announced recently the expansion of its new small business marketplace within the SoFi product experience. With this addition, SoFi will now be able to better support millions of American small business owners’ financing needs by “connecting them to SoFi’s network of providers.” Anthony Noto, CEO of SoFi, said: “SoFi…
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Pan African reports increased first-half gold production
Pan African released a production update for the first half of its financial year on Monday, reporting an improved safety performance, increased gold production, and progress on the Mogale Tailings Retreatment (MTR) Project. The AIM-traded company reported a notable improvement in safety, with a decline in the total recordable injury frequency rate (TIFR) to 6.13 per…
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African startups secure new UNDP aid
Ecofin Agency) – The United Nations Development Program (UNDP) has joined forces with African nations to develop an innovative fund named “Timbuktoo”. This tool is aimed at bolstering the African startup ecosystem and supporting the growth of high-potential enterprises across the continent. According to an official UNDP statement, the $1 billion fund will raise both…
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Seedstars Africa Ventures gets $30M backing from EIB Global to invest in early-stage startups
Seedstars Africa Ventures has received a $30 million capital commitment from EIB Global, an arm of the European Investment Bank, which becomes the first major institutional investment for its first pan-African venture capital fund. The new commitment follows an $8 million investment from the fund’s anchor investor, French private equity firm LBO France. The fund…
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Enhancing Bilateral Ties: PAPSS Visits LBDI in Monrovia, Liberia
In a significant diplomatic development, Monrovia, the capital city of Liberia, recently played host to high-profile visits from the Pan-African Parliament Secretariat (PAPSS) and the Liberia Bank for Development and Investment (LBDI). The interactions during these visits underscored the commitment to strengthening diplomatic and economic ties between Liberia and the broader African community. The Pan-African…
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New Financing to Support 900,000 Farmers and Road Users for Economic Transformation in Liberia
WASHINGTON, December 22, 2023 – The World Bank Board has approved a Second Additional Financing for the Rural Economic Transformation Project (RETRAP-AF II). This financing is funded by an International Development Association (IDA)* credit of US$76 million from its Scale-Up Window (SUW) and $9 million grant from the KfW Development Bank through the Liberia Reconstruction…
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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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