Category: Pan African Banking
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Lightspark CEO David Marcus: Lightning Network Will Become the World’s ‘Interoperability Neutral Settlement Layer’
David Marcus, CEO of Lightspark, a company that offers lightning network (LN) related services, has stated that LN will become the “interoperability neutral settlement layer” for the world. Marcus declared that only Bitcoin is “neutral enough” to be implemented as the enabler between national payment systems, granting companies and institutions adopting it an edge for…
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10 best ways to turn $100 into $1,000
Learning how to turn $100 into $1,000 is all about finding a strategy that works for you. Below are some common methods, but keep in mind that they vary in the time it takes to grow your wealth as well as in risk level. 1. Opening a high-yield savings accountA high-yield savings account is a…
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𝗛𝗼𝘄 𝗱𝗼𝗲𝘀 𝗩𝗜𝗦𝗔/𝗠𝗮𝘀𝘁𝗲𝗿𝗰𝗮𝗿𝗱 𝗺𝗮𝗸𝗲 𝗺𝗼𝗻𝗲𝘆?
This 6-step diagram shows the economics of the credit card payment flow: 1️⃣ The cardholder pays a merchant $100 to buy a product. 2️⃣ The merchant benefits from the use of the credit card with higher sales volume, and needs to compensate the issuer and the card network for providing the payment service. The acquiring…
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Zimbabweans forced to use US dollar in absence of new currency ZiG
🇿🇼 Here we go again: Zimbabweans forced to use US dollar in absence of new currency ZiG Zimbabwe’s informal traders who account for about 75% of all employment in the nation have stopped accepting the ZIMdollar also know as RTGS dollar fearing its value has declined. The new ZIG currency which was supposed to be…
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Seven in ten Ugandans spend beyond their income, survey-based study shows
🇺🇬💵 “Seven out of every 10 Ugandans were operating a personal budget deficit (needing more money than they are earning to cover their personal budget),” the FinScope 2023 survey done by the not-for-profit company Financial Sector Deepening Uganda read. What is interesting is how the Ugandans’ strategy for coping with this financial situation has changed.…
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Ecowas sends fact-finding mission to Togo, finally
The seven-member mission will be led by Maman Sambo Sidikou, former representative of the African Union in Mali and the Sahel. “During its stay in Togo from 15 to 20 April, the mission will meet the main stakeholders in the electoral process, in particular the heads of State institutions and agencies, political parties, the electoral…
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Nubank partners with Wise to launch a global account and tap into travel banking
The news 🗞️ Nubank, Brazil’s FinTech gem and one of the world’s largest digital banks with over 90 million customers, has partnered with Wise Platform to launch a new global account and international debit card for its premium Ultravioleta customers. This marks an important step for Nubank into the travel segment and further strengthens Wise’s international growth ambitions. Let’s take…
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Russia begins diesel exports to Sudan, LSEG data shows
🇸🇩🇷🇺 Russia has begun diesel exports to Sudan as Moscow seeks new markets for its refined products after an EU embargo, LSEG data shows.Since the full EU embargo on Russian oil product imports was imposed in February 2023, diesel supplies have been diverted to Brazil, Turkey, countries in Africa, Asia and the Middle East as…
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Kenya and Central African Republic strengthen ties
🇰🇪🇨🇫 Kenya’s President William Ruto made a 24-hour visit to the Central African Republic on the weekend, holding talks in Bangui with President Faustin Archange Touadera. It was the first time a Kenyan head of state had visited the country and Touadera thanked him for coming to Bangui. During the visit, Ruto paid tribute to…
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Zimbabwe’s transition to new ZiG currency reportedly prompts banking disruptions
🇿🇼 Banking operations in Zimbabwe have been disrupted as financial institutions rushed to convert all Zimbabwe dollar account balances to ZiG, the new legal tender, media reported. Thus, ZimSwitch, the national payments platform provider, revealed that processing of local dollar transactions across financial institutions is currently unavailable. Nedbank, a South African banking giant operating in…
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𝕋𝕙𝕒𝕟𝕜𝕤 𝕗𝕠𝕣 𝕥𝕙𝕖 𝕦𝕡𝕕𝕒𝕥𝕖 .