Category: Pan African Banking
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Plunder Capitalism: A Threat to Africa’s Financial Sovereignty and the Pan-African Dream
The recent discussion on “Pan African Email” regarding the privatization of the U.S. government raises a critical point: the insidious nature of plunder capitalism. This exploitative economic model, where corporations and a wealthy elite extract wealth from nations and their resources, has a long and devastating history in Africa. Here’s how plunder capitalism operates and…
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Feds Colluded With Big Banks to Spy on Americans’ Financial Transactions
The federal government conducted “broad,” “unjustified” surveillance of the private financial transactions of millions of Americans in the wake of events that took place on Jan. 6, 2021, at the U.S. Capitol, according to a report issued Wednesday by the U.S. House of Representatives Select Subcommittee on the Weaponization of the Federal Government. The report…
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Revolut’s New UK Banking Licence: A Game-Changer in Fintech
Revolut, the largest fintech by valuation, has secured a UK banking licence after a three-year regulatory approval process. Granted by the Prudential Regulation Authority, the licence is in the mobilisation stage, allowing Revolut to build its operations under certain restrictions. This stage provides time to finalise IT infrastructure, governance, and risk management frameworks. Revolut can…
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Gold rush: African nations seek safe haven amid currency woes
African nations are turning to gold in a bid to protect their economies from the turbulent global landscape. Geopolitical tensions, currency fluctuations, and rising inflation have prompted a rush to bolster gold reserves as a hedge against economic instability. This trend is expected to continue, with the World Gold Council anticipating that around 20 central…
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AlJazeera: The New World Economic Order?
Economic integration and globalisation, the free flow of trade, with the United States at the helm: that is the economic order the world has known for decades. Today, the disintegration of the rules-based old world order is evident. Countries are becoming more inward-looking, regulatory fences have been erected, the World Trade Organization is in limbo,…
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CNBC discusses the idea of the U.S. potentially holding #Bitcoin as a reserve currency under Donald Trump
CNBC discusses the idea of the U.S. potentially holding #Bitcoin as a reserve currency under Donald Trump CNBC has discussed the idea of the U.S. potentially holding Bitcoin as a reserve currency, particularly under Donald Trump’s leadership. Trump, who previously called Bitcoin a “scam,” has recently softened his stance, noting its growing usage and substantial…
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Seychelles, Africa’s second most developed country 🇸🇨
It has Africa’s highest minimum wage ($426 monthly), literacy rate (95.9%) and GDP per capita. It has Africa’s most powerful passport with easy access to 153 countries/territories. Free healthcare. 3.5% unemployment rate. Seychelles 🇸🇨 is the only African country classified as “high-income” by the world Bank. The world’s largest seed, the seed of the Lodoicea…
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Nigeria approves new minimum wage amid economic turbulence and labor unrest
“President Bola Tinubu has approved a 70,000 naira minimum wage for Nigerian workers with a promise to review the national minimum wage law every three years,” Senior Presidential Aide Bayo Onanuga announced on X. The compromise was reached during negotiations between the government and the country’s largest labor unions, the Nigerian Labour Congress (NLC) and…
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More than 40% of the world’s countries support de-dollarization
Almost half of the world’s countries have already declared a boycott of the dollar to a greater or lesser extent. Since the beginning of this year, according to Sputnik’s analysis, six more countries have set foot on the path of de-dollarization. All the countries can be roughly divided into three groups: The first and largest…
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BRICS has the potential to challenge the current “archaic” global financial architecture, says Ethiopian Foreign Ministry Spokesperson
Speaking on the benefits of BRICS membership for African countries, including Ethiopia, which joined the bloc in January, Ambassador Nebiyu Tedla emphasized that engagement with BRICS should focus on advancing African countries’ own development agendas. “It is crucial for the African countries to ensure that any engagement with BRICS is aligned with their long-term economic…
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