Finance
Access Bank acquires Kenya’s Transnational Bank
Following its first announcement in October 2019, Access Bank Plc has announced the successful completion of the acquisition of Transnational Bank Plc, of Kenya (TNB). The Bank made this known through a statement signed by its Company Secretary, Sunday Ekwochi. “Access Bank Plc is pleased to inform the investing public and the Nigerian Stock Exchange of the Bank’s successful completion of the acquisition of Transnational Bank (Kenya) Plc. This follows the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion,” the statement read. Commenting on the acquisition, Herbert Wigwe, the Group Managing Director, Access Bank PLC, said, “We are excited to make an entry into the vibrant Kenyan market. We pledge to put our customers at the forefront of everythin...
Airtel Africa Expands Network with WorldRemit
Airtel Africa and WorldRemit have partnered to expand operations to Rwanda – which means Airtel Money is now available in DRC, Uganda, Zambia, Tanzania, Malawi and Niger. Airtel Money enables mobile money users to send local and international money transfers, make utility payments, pay merchants, save money in their mobile wallets, purchase airtime and access a range of mobile financial products. WorldRemit will enable customers from across the globe to receive money into Airtel Money wallets. Users can use the free mobile app; choose Mobile Money and Airtel as the operator, then follow the prompts. /* custom css */ .tdi_3_195.td-a-rec-img{ text-align: left; }.tdi_3_195.td-a-rec-img img{ margin: 0 auto 0 0; } “The connection to more Mobile Money accounts through Airtel Africa allows us to ...
6 Terms You Have To Know To Trade Forex
Right now, a lot of people around the world are looking for new ways to invest. Market upheaval around the world has shaken confidence in traditional stocks, and as some alternative markets have shown resilience, there’s some understandable curiosity about how to invest more creatively. For some, this has translated to more interest in cryptocurrency. We mentioned when discussing ‘The Value of Digital Currency During the Age of COVID-19’ that some are now looking to fund their businesses with digital assets. And the same is true of portfolios. Bitcoin and its fellow cryptocurrencies have performed fairly well in this difficult time, prompting some investors to go ahead and give them a shot.That said, cryptocurrency is still a fairly bold option for a lot of people. They may ...
Live Nation Shares Bounce on Encouraging Vaccine Trial
Stocks of out-of-home entertainment companies got a boost from biotech company Moderna’s announcement on Tuesday. As markets reacted enthusiastically to a promising coronavirus vaccine trial, shares of concert promoter Live Nation leaped 12.2% to $52.09 on Wednesday (July 15) before closing at $51.84, up 11.7%. On Tuesday, biotech company Moderna published the results of an initial study for a coronavirus vaccine called mRNA-1273. The vaccine “elicits a robust immune response” in all trial participants, said chief medical officer Tal Zaks in a statement, and will enter the next phase — with approximately 30,000 participants — later this month. Jumps in other entertainment companies’ stocks reflect how desperate investors were for good news about markets brought to a...
Union Bank to provide potable water to six geo-political zones in Nigeria
File Photo Union Bank of Nigeria (UBN) said on Friday that it would provide potable water to the six geo-political zones in the country as part of its support and Corporate Social Responsibility to Nigerians. Mrs Ogochukwu Ekezie-Ekaidem, Head, Strategic Corporate Communications and Marketing, UBN, made the disclosure at a Virtual Media briefing organised for Financial Correspondents in Lagos. According to her, citizenship is a key pillar of how we want to build up our brand and support Nigerians. “What we want to do for our employee volunteer year this year is with the token our employees will donate and the small donations which the bank will bring. “We want to give the gift of potable water to the six geo-political zones in the country. “We will be working with a non-governmental organi...
Mastercard and FASTA Launch South Africa’s First Virtual Credit Card
Mastercard has teamed up with FASTA – a digital lending fintech – to launch the FASTACard, South Africa’s first virtual credit card. The FASTACard – backed by Standard Bank and Tutuka – is said to give locals access to instant credit which is loaded onto a secure digital card that can be used online and in-store. This virtual card will help to meet the demand of today’s cash-strapped consumers who are increasingly seeking ‘no contact’ digital payment solutions in the wake of the pandemic. South Africans who choose to apply can select their own credit limit – up to R8,000 – and repayment plan – with up to three instalments paid over four months. Within minutes, the loan application is approved and customers are sent a virtual card which is valid for three years. /* custom css */ .tdi_3_070....
ESET Research Dissects Evilnum Group as its Malware Targets
ESET researchers are releasing their in-depth analysis into the operations of Evilnum, the APT group behind the Evilnum malware. According to ESET’s telemetry, the targets are financial technology companies – for example, platforms and tools for online trading. Although most of the targets are located in EU countries and the UK, ESET has also seen attacks in countries such as Australia and Canada. The main goal of the Evilnum group is to spy on its targets and obtain financial information from both the targeted companies and their customers. “While this malware has been seen in the wild since at least 2018 and documented previously, little has been published about the group behind it and how it operates,” says Matias Porolli, the ESET researcher leading the investigation into Evilnum. “Its...
Aviation, education ministries, others make presentations at FEC meeting
President Muhammadu Buhari is currently presiding over the seventh virtual meeting of the Federal Executive Council (FEC) at the Council Chamber of the Presidential Villa, Abuja. Newsmen report that the Federal Ministries of Aviation; Niger Delta; Education as well as Works and Housing are expected to make presentations at the meeting. Those at the meeting include Vice-President, Prof. Yemi Osinbajo, Secretary to the Government of the Federation, Boss Mustapha; Chief of Staff to the President, Prof. Ibrahim Gambari and the National Security Adviser (NSA) to the President, retired Maj.-Gen. Babagana Monguno. Newsmen observed that 11 cabinet ministers joined the president at the Council Chamber for the virtual meeting while other ministers are participating directly from their respective off...
Nedbank Unveils ‘First in Africa’ Contactless Payments Solution
Nedbank is testing a new contactless payments solution that allows all merchants and business owners to convert their mobile phones into ‘payment acceptance devices’. In a first for Africa, Nedbank is currently the only bank to offer this capability. The ‘Tap-on-Phone’ solution is said to make it easier for SMEs to use their compatible smartphones to accept quick, easy, and secure, payments from their customers for goods or services. Nedbank says that this solution, which is inspired by the current COVID-19 pandemic and the resulting social distancing rules, enables contactless payment acceptance and there’s no health risk to the merchant or customer. “The challenges presented by COVID-19 demand that the world of payments evolves even quicker, and banks must respond by providing innovative...
Nedbank Takes Home 5 Accolades at the 2020 Global Banking and Finance Awards
Image sourced from Nedbank Nedbank had revealed that it walked home with five accolades at this year’s International Banker Awards for the Middle East and Africa. These awards included recognition for the Best Banking Technology Implementation, Most Innovative Digital Branch Design, and Most Innovative Retail Banking App in South Africa in 2020. Nedbank also took top honours as the Best Retail Bank in South Africa for the second consecutive year, and Nedbank CIO, Fred Swanepoel was announced CIO of the Year in South Africa in the Technology Leadership Awards category. According to Ciko Thomas, Group Managing Executive for Nedbank Retail & Business Banking, the numerous awards validate Nedbank’s commitment to constant innovation – particularly in the digital space. “Nedbank’s continuous...
UBA Group appoints deputy managing directors
The United Bank for Africa Plc (UBA), a pan-African financial services group, on Tuesday announced the appointments of Mr Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors. The bank in a statement in Lagos, said the Deputy Managing Directors would be in charge of UBA’s Nigeria and Africa businesses, respectively. The Group Chairman, Mr Tony Elumelu, said in the statement that the appointments were a representation of the groups’ strategic recognition now representing in excess of 40 per cent of the Group revenue. “In 2005, we set out our pan-African vision. Fifteen years later, we are present in 20 African countries, serving over 20 million clients, leveraging our service culture and technology platform, to provide an integrated and seamless customer offering across the continent...
The Value of Digital Currencies During the Age of COVID-19
Sourced from Hacker Noon. “Money is no longer the commodity it was a decade ago. How we acquire money is changing, and so is the form of money,” writes John Lombela, MD of African investment and tech company Cryptovecs Capital. He says that with the changing business landscape and the digital evolution, the only way one can define their digital future is by becoming familiar and looking at new digital assets especially if they are seeking funding for their business. “Gone are the days of depending on a bank loan or family and friends investing in your business. Entrepreneurs and those seeking funding can now consider cryptocurrency lending because it offers high yielding gains through margin trading on specific exchanges by lending cryptocurrencies,” Lombela continues. This move has result...
