Category: Pan African Banking
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Bank of Ghana Declares 50 Loan Apps Illegal: What This Means for Fintech in Africa
By: Tekpwfari Stix El| panafrican.email Date: May 31, 2025 — Introduction In a decisive move to regulate the fast-growing digital lending space, the Bank of Ghana (BoG) has declared 50 digital loan apps illegal, citing consumer abuse, data privacy violations, and failure to obtain proper licensing. The announcement has sparked intense public debate on financial…
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How Cocoa Beans Beat Bitcoin: The Sweetest Investment of 2024
How Cocoa Beans Beat Bitcoin: The Sweetest Investment of 2024 In a surprising turn of events, cocoa beans—humble seeds that fuel the global chocolate industry—have outshined Bitcoin as the best-performing commodity of 2024. While the world watched Bitcoin smash records, briefly soaring past the $100,000 mark in December, cocoa quietly made an even bigger leap.…
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Ghana’s Central Bank to Regulate Crypto by September 2025
The Governor of the Bank of Ghana (BOG), Johnson Asiama, announced that the central bank plans to begin regulating cryptocurrency and related platforms by the end of September 2025, pending the passage of the Virtual Asset Providers Act. Speaking in Washington, D.C., Asiama stated that the BOG is establishing a dedicated digital assets unit, recognizing…
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🇬🇭Ghana’s Cedi Strengthens Marginally Against Major Currencies
Ghana’s local currency, the cedi, has recorded slight gains against major trading currencies, particularly the US dollar, at various forex bureaus across the country. This development brings cautious optimism among businesses and consumers who have closely monitored the cedi’s performance amidst economic fluctuations. A Positive Turn for the Cedi Over the past weeks, traders and…
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🇪🇬IMF approves $1.2 billion more for Egypt’s economic recovery
The International Monetary Fund said Tuesday it completed its fourth review of Egypt’s economic reform program approving a $1.2 billion disbursement for the North African country. The IMF said in a statement it completed its fourth review on Monday and Egyptian authorities can immediately draw the funds. The IMF executive board also granted Egypt’s request…
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Why is there so much gold in west Africa?
Gold in the region: Gold in west Africa: Origins, reserves, and modern exploration techniques. Militaries that have taken power in Africa’s Sahel region – notably Mali, Burkina Faso and Niger – have put pressure on western mining firms for a fairer distribution of revenue from the lucrative mining sector. Gold is one of the resources…
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U.S. House Financial Services Committee Debates Trump Administration Tariffs’ Impact on Small Banks
Date: February 10, 2025Author: PanAfrican.Email During a pivotal House Financial Services Committee hearing on Wednesday, Rep. Maxine Waters (D-CA) led a robust discussion on the potential repercussions of the Trump Administration’s proposed tariffs, particularly their impact on small banks. The hearing, which brought together financial experts, policymakers, and industry leaders, highlighted growing concerns over how…
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🇸🇱 Diplomatic Scandal: Cocaine Bust in Guinea Involving Sierra Leonean Embassy Vehicle Sparks Investigation
The diplomatic reputation of Sierra Leone has come under scrutiny following the discovery of seven suitcases containing cocaine and $2,000 in cash in a vehicle with diplomatic plates belonging to its embassy in Conakry, Guinea. The incident occurred on Monday, January 13, 2025, and has raised significant questions about possible corruption and illicit activities involving…
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Burkinabe Authorities Seize $2.28 Million Worth of Smuggled Gold Near Togo Border
Burkinabe customs and national police made a significant breakthrough in the fight against gold smuggling on Tuesday, December 17, 2024, by intercepting 28.6 kilograms of gold worth $2.28 million. The operation took place in Bittou, a city near the border of Togo, following an anonymous tip that exposed suspicious activities involving three individuals. The suspects…
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Nearly Four Tons of Gold Vanish from Guinea’s Central Bank, Fueling Concerns Over African Gold Smuggling
In a concerning development, nearly four tons of gold valued at $400 million have vanished after being dispatched from the Central Bank of the Republic of Guinea (BCRG) to Dubai, United Arab Emirates, for refining. The gold was transported by MSS Security, a prominent Asian security firm, which has been cooperating with investigators. The disappearance…
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