Africa Featured Liberia West Africa World 

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

– – 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… Read More
Africa West Africa World 

Francophone West Africa seeks ‘financial freedom’ from France

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… Read More
Africa Liberia West Africa World 

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

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… Read More
Africa World 

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

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… Read More
Africa Business World 

Digital money transfer service Azimo reaches profitability

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… Read More
Africa Sports World 

Serena tops Forbes list of highest-paid sports women

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… Read More
Africa East Africa Featured World 

Kenyan man pleads guilty in over $800K internet scam

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,… Read More
Africa Business World 

Do trade wars affect the prices of digital currencies?

It is no secret that cryptocurrency prices can be volatile. Those of us who have taken the step to sign up with the likes of Luno to acquire a bitcoin wallet and get in on the action have seen prices soar and then come back down to earth just as quick. The reasons for these rapid increase in Bitcoin’s value… Read More

African philanthropy: the new drivers of development

More money is sent to Africa through remittances from the diaspora than funding from aid agencies. Photograph: Alamy   Remittances to Africa could transform local philanthropy and put the continent on path of self development When you think of philanthropy in Africa what names come to mind? Bill Gates, Bono, Ford Foundation, Soros, Charity Water, World Bank, or Oxfam? If so, you are justified:… Read More

In Lagos, the 1% Takes Stock

A burgeoning wealthy class is settling into one of Africa’s fastest-growing cities, attracting designers, world-class architects and a growing creative community that seeks to preserve its culture through art and fashion. Courtesy of Janice Robinson The Land Cruisers and Range Rovers began lining up on a steamy Sunday afternoon outside Tafawa Balewa Square long before sunset. The banking tycoon Otunba… Read More