Category: Pan African Banking
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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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