Divisions emerge at CBN over weakening Naira
Naira LAGOS, (CAJ News) – CALLS to devalue the Naira are reportedly dividing the Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee (MPC). This comes amid the local currency losing value against major currencies following the weakening oil prices in the international markets. The MPC has resisted calls to devalue but Rand Merchant More...
Fears debts could plunge Nigeria states into disarray
Rand Merchant Bank LAGOS -A PROMINENT financial services firm has argued releasing funds from the Excess Crude Account (ECA)would not be a lasting solution to the financial challenges the country’s state governments More...
Telkom expands LTE-A network
Telkom PRETORIA – TELKOM has announced it has expanded its LTE Advanced (LTE-A) network to an additional 22 suburbs across South Africa. The company said the expansion adds to what is already the largest More...
IMF loan not enough to curb Ghana currency freefall
IMF ACCRA – RENOWNED Ghana economist, Dr Raziel Obeng-Okon, said the $114 million the International Monetary Fund (IMF) advanced to Ghana to shore up Bank of Ghana’s reserves cannot stop the local currency’s More...
Mobile Money seen inspiring remittances growth
Mobile money JOHANNESBURG – MOBILE Money is projected to play a key role in global remittances in the coming years, according to an online remittance service firm. WorldRemit said this would culminate in affordability More...
Inflation projected to accelerate in the long term
Nigerian Naira LAGOS – ANALYSTS projected average inflation to increase in the long term owing to a combination of factors including the insecurity in the northern parts of the country. The projections follow More...
Zimbabwe mobile money transactions blossom
Eco-Cash HARARE – ZIMBABWE’S mobile money transfers have more than doubled to over R15 billion ($1,4 billion) in the previous year. This is a significant increase from over R7 billion, national regulator More...
Airtel mobile money service soars in Ghana
Airtel Money ACCRA, (APA) – AIRTEL Ghana said transactions on its mobile money platform had doubled to 1 million over the past year. The Marketing Director of Airtel Ghana, Manu Rajan said this was the first in More...
High cost of living challenges SA tourism
kruger-national-park JOHANNESBURG – THE substantial rise in the cost of living poses a challenge for South Africa’s tourism business, a banking official warned. Wiza Nyondo, Head of Niches at First National More...
Zimbabwe reports lack of money to fight hunger
Flag of Zimbabwe MASVINGO, (APA) – ZIMBABWEAN authorities have no money to tackle hunger and starvation which have tightened their grip in the southern African country this year due to poor and unreliable More...