Tag: Banking Sector
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Charles Schwab laying off over 150 of its San Francisco employees
Of the about 2,000 employees affected by Charles Schwab’s most recent round of layoffs, 155 are based at the company’s former headquarters in San Francisco. A Nov. 6 Worker Adjustment and Retraining Notification filed with the California Employment Development Department confirms that 155 employees at Charles Schwab’s 211 Main St. office will be laid off by Jan.…
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Robinhood to roll out US stock trading in British market
Robinhood CEO Vladimir Tenev said in an interview with Bloomberg that the company is still focused on its global aspirations, and its U.K. expansion is one step toward that. In another attempt to expand its business internationally, online trading platform Robinhood has announced plans to launch its stock exchange application in the United Kingdom. In…
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Yellow Card Partners with PayPal to Accelerate Crypto Adoption and Financial Inclusion
Yellow Card, a fintech company on the African continent operating across 20 countries, has launched PayPal USD (PYUSD), the stablecoin from PayPal, issued by blockchain and digital asset solution provider Paxos Trust Company. According to Yellow Card, which offers a crypto exchange, cross-border payments powered by crypto, as well as an API suite for companies to on-and-off-ramp anyone…
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UBA, others partner on customer experience
United Bank for Africa (UBA) Plc has entered into partnerships with three health-based organisations to create robust synergy for enhanced customer experience. The partnership is expected to drive financial inclusion, promote brand loyalty and promote healthy lifestyle in the ever-evolving societal landscape. Group Head, Marketing and Corporate Communications, Alero Ladipo, who spoke during the signing ceremony…
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Zimbabwe turns to BRICS bank for funding
Zimbabwe intends to join the New Development Bank (NDB), the multilateral bank set up by the vibrant BRICS states, to expand sources of capital for infrastructure development, according to Finance, and Economic Development Minister Professor Mthuli Ncube. Mthuli revealed this in an interview with CGTN Africa, an African division of China Global Television Network, the…
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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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SoFi Cash Management Account Review
Editor’s Note: As of March 2022, SoFi is replacing its cash management account with a checking and savings option. SoFi Checking and Savings includes both a checking account and a savings account. As SoFi states at its website, “Since SoFi Checking and Savings has many of the great features of SoFi Money (plus more), we…
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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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Lucara Adds 549-Carat White Diamond to Its Growing List of Massive Finds
Lucara Diamond Corp. just recovered a 549-carat unbroken white diamond of “exceptional purity” from its Karowe Mine in Botswana — a diamond mine that has earned worldwide recognition for producing the 1,758-carat Sewelô, the 1,109-carat Lesedi La Rona and the 813-carat Constellation diamond. Those diamonds rank #2, #3 and #8 on the list of the…
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