The Central Bank of Egypt (CBE) has announced a notable turn-around with a net profit of Egyptian Pounds (EGP) 22.834 billion (~$470.7 million) for June 2024, marking its first profitable…
Startups in Africa announced $56 million in funding in August 2024, down from $443 million in July 2024 ~8x less) and $234 million in August 2023 (~4x less), making August…
In a landmark move to support financial technology innovation, the Bank of Tanzania has officially launched its Fintech Regulatory Sandbox, a significant development for the country’s startup ecosystem. This initiative…
In the dynamic landscape of diaspora remittances to Kenya, Saudi Arabia is making significant strides, challenging the United Kingdom’s position as a leading contributor. However, both countries’ contributions remain dwarfed…
In a groundbreaking move poised to redefine Nigeria’s foreign exchange dynamics, President Bola Tinubu’s administration has unveiled the ‘Naira for Crude’ initiative. This new policy allows local refineries to purchase…
Nigerian digital banking platform, Kredete, has raised $2.25 million in seed funding to help it further scale across the continent. Key Takeaways Kredete has raised $2.25 million in seed…
Kenya has introduced two innovative digital platforms aimed at enhancing the transparency and efficiency of government operations. The new systems, named: The Presidential Directives Management Information System (PDMIS), and The…
The Governor of the Central Bank of Libya, Sadiq Al-Kabir and other senior bank officials, have fled the country to seek protection from potential attacks, various reports indicate. “The…
More nations are showing increasing interest in joining BRICS, according to recent statistics ahead of the upcoming BRICS summit scheduled for end of October 2024. According to Paul Frimpong, Founder…
The Chinese Yuan’s share in global payments hit a record high in July 2024, seen as a milestone in the country’s efforts to fend off the hegemony of the U.S.…