RWANDA BANK LOSES $10.3 MILLION TO FRAUDULENT CLIENT WITHDRAWALS

The I&M Bank Rwanda affiliate lost $10.3 million due to fraudulent client withdrawals in less than three months. This loss prompted investigations to recover...

KENYANS PREPARE FOR MORE TAXES AS THE GOVERNMENT TARGETS WIGS, CELLPHONES, AND DIGITAL ASSETS

Kenyans are prepared for a financial blow as the government proposes new taxes in the 2023 Finance Bill. While the planned taxes are meant...

CBN TO INTRODUCE CONTACTLESS PAYMENT; PHONES, WATCHES TO BE USED LIKE POS, ATM

The Central Bank of Nigeria (CBN) has begun plans to release guidelines that will make contactless payment stress free and safe for all. This...

IMF CALLS IN SUPPORT OF UNIFIED ACTION ON AFRICAN DEBT

African nations are reportedly facing their worst financial problems in 20 years, according to the International Monetary Fund (IMF), which is calling for effective...

OFFICIAL MARKET IN NIGERIA IMPROVES TO N462/$1

The exchange rate between the Naira and the US dollar at the Investors and Exporters (I&E) window depreciated to N462.33/$1 on May 2, 2023....

AFRICA TO SET-UP ITS OWN OIL BANK TO ELIMINATE DEPENDENCE ON FOREIGN FINANCIERS

Finishing touches have been put in place by the African Petroleum Producers Organization (APPO) to set up the Africa Energy Bank. The aim of...

AFRICA’S OIL-RICH NATIONS EXPERIENCES DECLINE IN INVESTMENTS, SAYS WORLD BANK

Africa's oil-rich nations are experiencing major reduction in investment, says the World Bank. In Africa nations, oil as a resource is one valuable and profitable...

RWANDA SUCCESSFULLY REPAYS $400 MILLION EUROBOND DESPITE ECONOMIC CHALLENGES

Rwanda has successfully paid off its $400 million Eurobond despite the effects caused by recent events around the globe ranging from the COVID-19 pandemic,...

NO PLANS TO WITHDRAW REDESIGNED NOTES DESPITE ITS SCARCITY, SAYS CENTRAL BANK OF NIGERIA

The Central Bank of Nigeria has declared the claim that it was going to withdraw the redesigned 200, 500 and 1000 notes as false...
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