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Tag: money

Africa South Africa Southern Africa World 

SA woman who spent almost $1m she got in error jailed

Elwin Mandowa, , , , , , , ,

– – A South African woman has been jailed for five years by a court for spending almost $1 million (14 million rands) credited to her bank account in error. Sibongile Mani got 14 million rands instead of 1,400 rands she was entitled to in 2017. The money had come from the National Student Financial Aid Scheme (NSFAS) through a payment services company, Intellimali. Mani was at the time a student at Walter Sisulu University. She did not report the error in the payment but rather went on a shopping…

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Africa Ghana West Africa World 

Ghana: Man beats lover to death over $2

Elwin Mandowa, , , , , , , ,

– – A 30-year-old man has beaten his girlfriend to death following a misunderstanding over $2.6 (GHc15). Police in a town of Tafo Pankrono in Ghana’s Ashanti region told a court that the suspect Ebenezer Korang gave $32 (GHC 185) to his girlfriend, Abigail Adoma, for safekeeping. When Korang asked the deceased to return the money at a meeting point in town, Abigail instead asked him to come over to the house for the money. Police said when Korang eventually got home to retrieve the money from the victim, she…

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Africa Liberia West Africa World 

Liberia: Man drowns trying to rescue $20 note in river

Elwin Mandowa, , , , , , , , , ,

Police in Liberia have said that a man drowned after he jumped into a river in the capital, Monrovia, to retrieve a $20 note he had dropped. Tamba Lamine according to eyewitnesses was walking with a friend on a bridge when the bank note fell. He reportedly jumped from the bridge into the river and successfully located the note which he showed to onlookers. Police spokesman Moses Carter told the media though that the street hawker drowned shortly after that. His body is yet to be recovered according to Mr…

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Africa Featured Liberia West Africa World 

Liberia’s Weah angry at ‘rude citizens’ asking him for money

Elwin Mandowa, , , , , , , ,

– – Liberia’s President George Weah has expressed anger at some of his citizens who continue to ask him for favours but refuse to show him respect. According to the Liberian leader, he receives on daily basis numerous text messages from many citizens especially young people. But the tone of the messages according to him is distasteful and full of insults from people claiming to be his supporters. In a sermon on Sunday, the FrontPage Africa newspaper quoted the President as saying that “1000 persons who text me, 999 are…

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Africa West Africa World 

Francophone West Africa seeks ‘financial freedom’ from France

Village Reporter, , , , , , , ,

For decades Francophone nations in West Africa have had the management of their currency done in France. Their financial reserves have always been planned and controlled from France despite gaining independence many years ago. A model where these eight former colonies of France had their foreign-exchange accumulation kept at the French Treasury could soon change. Benin’s President Patrice Talon has revealed that the eight-member nations of the West African Monetary Union “unanimously agree” to end the practice. He said in an interview with Radio France Internationale that “I can’t give…

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Africa Liberia West Africa World 

Liberia: Banknotes in short supply, banks run-out of cash

Village Reporter, , , ,

Liberian commercial banks have run out of money resulting in shortage of banknotes across the country. The shortage of banknotes means customers of banks have to form long queues at cash machines. Liberia’s ministry of finance said on Tuesday that there is not sufficient money in the vaults of commercial banks. It claimed people are keeping money at home. Liberia’s economy is struggling, flattening the confidence people have in the local currency. There have been protests in recent months after the disappearance of some $104million worth of bank notes in…

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Africa World 

United Nations is ‘broke’, could run out of cash in a few weeks

Village Reporter, , , , ,

The United Nations is reportedly without money to sustain its operations as it is currently running a deficit of $230 million. In a letter from the Secretary General Antonio Guterres to the 37,000 employees at the UN secretariat, he said the global body may run out of money by the end of October. CBS News reported about the said letter in which Guterres said unspecified “additional stop-gap measures” were needed to ensure salaries and entitlements are paid. Guterres wrote that “Member States have paid only 70 percent of the total…

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Africa Business World 

Digital money transfer service Azimo reaches profitability

Village Reporter, , , ,

Azimo, Europe’s leading digital money transfer service, today announced that it has reached profitability during Q2 2019. Following the successful expansion of sending to regions such as Africa and south-east Asia, the volume of transfers enabled by Azimo increased by 60% year on year. Building on the momentum of its expansion strategy, Azimo will be extending its services to allow customers to send money from Asia, the biggest money transfer region in the world, before the end of 2019. Michael Kent, the co-founder of Azimo, is also stepping down as…

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Africa Sports World 

Serena tops Forbes list of highest-paid sports women

Village Reporter, , , ,

US tennis superstar Serena Williams topped Forbes magazine’s list of the highest paid women in sports for the fourth straight year on Tuesday. The business publication calculated that the 23-time Grand Slam singles champion earned $29.2 million in the 12-month period ending June 1 — with just $4.2 million of that coming from prize money. Japan’s Naomi Osaka, who burst to international stardom with a stunning upset of Williams in the 2018 US Open final and went on to win the Australian Open in January, became just the fourth woman…

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Africa East Africa Featured World 

Kenyan man pleads guilty in over $800K internet scam

Village Reporter, , , , , , ,

A Kenyan man is to be sentenced in October this year after pleading guilty to fraudulently receiving $749,158.37 from the University of California San Diego (UCSD). Mr Amis Hassan Raage received that money in a computer phishing scheme, which he pleaded guilty to during his trial. He will be sentenced before US District Judge Gonzalo P. Curiel on October 11, 2019. Hassan Raage will be sentenced on the charge of conspiracy to commit Wire Fraud, in violation of Title 18 United States Code, Sections 1349. The offence attracts a maximum…

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