Category: Pan African Banking
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Ethiopian securities exchange reaches capital raise target needed for operations
πͺπΉ The Ethiopian Securities Exchange (ESX) has achieved a milestone by meeting its initial capital raise target of $11.07 million required to kickstart its operations, the ESX said in a statement. The exchange announced that the fundraising effort was oversubscribed, with offers totaling $26.6 million from both domestic and foreign commercial investors, demonstrating robust interest…
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Africa reportedly bears annual cost of $8.4 billion due to hospital infections
ππ₯ Whatβs even more important is that hundreds of thousands die due to infections acquired in hospitals, the media revealed, citing a joint research by the international non-governmental organization WaterAid and the World Bank. Clean water, better restrooms, and handwashing facilities could prevent at least half of the cases, according to the paper. Notably, pediatric…
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Hackers Exploit Magento Bug to Steal Payment Data from E-commerce Websites
Threat actors have been found exploiting a critical flaw in Magento to inject a persistent backdoor into e-commerce websites. The attack leverages CVE-2024-20720 (CVSS score: 9.1), which has been described by Adobe as a case of “improper neutralization of special elements” that could pave the way for arbitrary code execution. It was addressed by the company as part of…
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Zimbabwe unveils new currency as depreciation, inflation stoke turmoil
οΏ Zimbabwe on Friday launched a new currency to replace its previous one that in recent months has been battered by depreciation, and in some instances rejection by the population. Authorities hope the new measure will halt a currency crisis underlining the countryβs yearslong economic troubles. Reserve Bank of Zimbabwe Gov. John Mushayavanhu said the…
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Top 10 African Countries Receiving Remittances: A Lifeline for Economies
Remittances, money sent back home by migrants living abroad, are a crucial financial lifeline for many African countries. These funds contribute significantly to household incomes, support families, and boost local economies. Here’s a look at the top 10 African nations receiving remittances from their diasporas: 1. Egypt: Topping the list, Egypt benefits tremendously from its…
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Reserve Bank of Zimbabwe introduces new currency
πΏπΌ Zimbabwe Gold (ZiG) will be issued in the form of banknotes and coins, Russian media reported, citing the head of the country’s Reserve Bank. All reserves of the Zimbabwean dollar will be transferred to the new currency, backed by reserves of foreign currency and precious metals mined in the country, said John Mushayavanu. The…
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7 highly rated real estate agents in South Africa
If you are a real estate investor and looking to enter the South African market, these top 7 highly rated real estate agents in South Africa could be your first stop: Jawitz Properties Founded in 1969, Jawitz Properties is one of the top real estate agents in South Africa with an outstanding reputation and has…
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UBA Unveils βScan To Resolve Complaintβ Portal For Enhanced Customer Experience
Africaβs Global Bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response solution code, qrdispute.ubagroup.com:8088, called the βScan to Resolve Complaintβ portal aimed at enhancing satisfaction and swiftly addressing customersβ complaints. The innovative platform marks another significant step by the bank to revolutionise customer service and streamline complaint resolution processes. The βScan to…
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Libya Blocks Access to All Oil Fields
π±πΎ Security guards protesting at Libya’s oil fields have declared the blocking of access to all wells and ports used for oil exportation. As reported by the Al-Wasat portal, this decision comes after the expiration of a 10-day deadline set by the oilfield guards for the Abdel Hamid Dbeiba-led National Unity Government (NUG) to meet…
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United Arab Emirates as forth investor in Africa
In 2023, ties between the UAE and Africa reach their peak, marked by Abu Dhabi’s commitment to invest $4.5 billion in the continent’s clean energy. With a total of $60 billion committed from 2012 to 2022, the Emirates are the fourth largest investor in Africa over the last decade, behind China, Europe and the United…
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