In the landscape of African banking, few stories are as remarkable as that of Sofibanque SA. Over a mere decade, this financial institution has experienced a growth surge of almost 12,000% in its assets, solidifying its position as a leading banking entity in the Democratic Republic of Congo (DRC). With such an impressive track record, […]
In a rapidly evolving situation, billionaire Ken Griffin’s hedge fund, Citadel, is preparing to take a more confrontational stance against the U.S. Securities and Exchange Commission (SEC) over an ongoing investigation related to WhatsApp messages. Highlights: As the digital age progresses, the lines between personal and professional communication have blurred, leading to regulatory challenges. This […]
In an era where financial turbulence seems to be the order of the day for many banking establishments, Capitec Bank Holdings, South Africa’s renowned mass-market lender, brings a fresh breeze of optimism. The bank recently announced a noticeable decline in its bad loans, signaling a remarkable turnaround in its financial health. Investors have been quick […]
Renowned Nigerian businessman, philanthropist, and the Chairman of Heirs Holdings, Tony Elumelu, recently sat down for a comprehensive interview with CNN’s Richard Quest, shedding light on various facets of his entrepreneurial journey and his vision for the African continent. Elumelu’s commitment to empowering African entrepreneurs and his unwavering belief in the continent’s potential were evident […]
Lagos, Nigeria – Tony Elumelu, a magnate name in Nigeria’s business sector and globally recognized entrepreneur, recently voiced his confidence regarding the forthcoming stability of the Nigerian naira. With the advent of new leadership at the Central Bank of Nigeria (CBN), Elumelu anticipates renewed trust in Nigeria’s currency and overall economic landscape. Highlights Tony Elumelu […]
In a startling turn of events that has gripped the financial world, the Nigerian Naira is in free fall, spiraling close to a historic low of 1,000 Naira to one US Dollar in street trading. The impact of this currency devaluation reverberates not only in Nigeria but also in the global economy. Highlights A frenzy […]
In a move that has garnered significant attention both nationally and internationally, Nigerian President Bola Tinubu has nominated Yemi Cardoso as the new Governor for the Central Bank of Nigeria (CBN). This decision follows a series of measures taken by the president to reshape the country’s financial landscape since his inauguration. Highlights While the specifics […]
In the wake of the COVID-19 pandemic, financial institutions worldwide faced unprecedented challenges. The economic downturn, coupled with the uncertainty of the pandemic’s duration, led to concerns about the potential surge in non-performing loans. Amidst this backdrop, FirstRand, one of South Africa’s prominent financial institutions, made a strategic decision that would set it apart from […]
Lagos, September 14, 2023 – The Nigerian economy faces yet another hit as the naira’s value drops dramatically, touching an unprecedented N950 to a dollar, marking one of the most significant depreciations in its history. With forex scarcity continuing to aggravate, concerns are mounting over the potential repercussions on the nation’s economy. Highlights The ongoing […]
According to its most recent financial statements for the first half of 2023, the United Bank for Africa (UBA) has demonstrated a remarkable financial performance. The bank’s profit after tax witnessed a staggering 438% surge, increasing from N70.34 billion in the first half of 2022 to an impressive N378.24 billion in the first half of […]