Tag: Banking
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Seedstars Africa Ventures gets $30M backing from EIB Global to invest in early-stage startups
Seedstars Africa Ventures has received a $30 million capital commitment from EIB Global, an arm of the European Investment Bank, which becomes the first major institutional investment for its first pan-African venture capital fund. The new commitment follows an $8 million investment from the fund’s anchor investor, French private equity firm LBO France. The fund…
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TotalEnergies Ranked As The World’s Leading Solar Developer In 2023
With a portfolio representing total capacity of 41.3 gigawatts (GW) in 2023, including 12 GW already in operation, TotalEnergies is a major player in the solar power market. In its latest report, research consultancy Mercom confirms our leadership position and highlights the scale and diversity of TotalEnergies’ projects worldwide. For several years now, TotalEnergies has…
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Enhancing Bilateral Ties: PAPSS Visits LBDI in Monrovia, Liberia
In a significant diplomatic development, Monrovia, the capital city of Liberia, recently played host to high-profile visits from the Pan-African Parliament Secretariat (PAPSS) and the Liberia Bank for Development and Investment (LBDI). The interactions during these visits underscored the commitment to strengthening diplomatic and economic ties between Liberia and the broader African community. The Pan-African…
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New Financing to Support 900,000 Farmers and Road Users for Economic Transformation in Liberia
WASHINGTON, December 22, 2023 – The World Bank Board has approved a Second Additional Financing for the Rural Economic Transformation Project (RETRAP-AF II). This financing is funded by an International Development Association (IDA)* credit of US$76 million from its Scale-Up Window (SUW) and $9 million grant from the KfW Development Bank through the Liberia Reconstruction…
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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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Liberia: World Bank suspends acccess to “unwithdrawn loans”
The World Bank has suspended its access to “unwithdrawn loans” in Liberia after the country defaulted loan repayments by 60 days under the administration of outgoing president George Weah. The decision to suspend access was conveyed in a letter on November 15 to Liberia’s Finance Minister Samuel Tweah, from the Vice-President of the Western and…
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A pair of Black-led banks have merged to form an institution worth more than $1 billion
New YorkCNN Business — A pair of Black-led banks on opposite coasts are joining forces to become the largest minority-owned depository institution in the United States, according to FDIC data. City First Bank and Broadway Federal Bank announced their merger on Wednesday. Combined, the lenders said they would have more than $1 billion in assets.…
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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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