Finance

Gutsy Zambia becomes first African country to defy private creditors

The African country wants to divert resources to take care of its people during the pandemic. One of the poorest countries in the world, Zambia, has decided to temporarily suspend interest payments to private creditors as it struggles to contain the economic fallout of the coronavirus pandemic. President Edgar Lungu’s government has suspended them for six months, starting from October. …

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7 business and management courses for a more resilient future

The wave of economic disruption from COVID-19 has affected every industry; we are no longer operating under “business as usual.” Biz + Management courses Explore how you can build the business skills and acumen that help companies of all kinds navigate this new normal and build more resilient futures. Browse our lookbook highlighting seven top courses and programs that cover …

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Jeff Bezos now worth a whopping $202 billion

The billionaire isn’t alone — other tech tycoons have been getting much wealthier throughout the pandemic as demand for their companies’ goods and services continues to grow. Bezos Earlier this month, Facebook (FB) CEO Mark Zuckerberg was dubbed a “centibillionaire,” as his wealth surpassed $100 billion. Tesla (TSLA) CEO Elon Musk, with a net worth of $96 billion, is close …

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Financial Inclusion in the COVID-19 Era: Policy Responses in West Africa

According to the World Bank’s Global Findex report (2017), the share of adults in Sub-Saharan Africa (SSA) with access to accounts in financial institutions or mobile money (MM) services increased from 34 percent to 43 percent in the period, 2011 to 2017. The Financial Ecosystem. Photo courtesy Google Since 2010, a growing number of SSA countries have launched or are …

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Beware of fake Susu savings club — Karen Hobbs

Imitation is the greatest form of flattery. It’s also the greatest form of “scammery.” That’s why scammers are imitating a type of informal savings club known as a “sou sou” or “susu” to trick people into joining what amounts to an illegal pyramid scheme. Karen Hobbs in screengrab from 5 live news If you’ve never heard of the term “sou …

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Ghana central bank keeps benchmark policy rate steady at 14.5%

ACCRA (Reuters) – Ghana’s central bank on Monday maintained its policy rate at 14.5%, citing a need for macro-economic stability despite the slowdown brought on by the coronavirus pandemic. Respective denominations of the Ghanaian cedi currency Ghana’s economy, which relies heavily on natural resources like cocoa, gold and oil, is expected to grow in 2020 at its slowest rate in …

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EU blacklists Botswana, Ghana, Mauritius, Zimbabwe over money-laundering

The European Union has blacklisted four African countries over money-laundering concerns as it says their financial transactions require further scrutiny. Botswana, Ghana, Mauritius and Zimbabwe were part of 12 countries placed on the EU’s blacklist. The other countries blacklisted are Bahamas, Barbados, Jamaica, Nicaragua, Panama, Cambodia, Mongolia and Myanmar. But the blacklisting will have to be approved by the European parliament …

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Meet Africa’s 50 Most Powerful Women of 2020 according to Forbes

This is a first-of-its-kind Pan-African compilation of the continent’s leading women, drawn from business, politics, media, science, sports and public life, who are challenging the status quo and creating a trail on terrain where there was none. They are reshaping history, closing inequalities and pioneering new avenues of wealth creation and in turn, lifting others with them. Africa’s 50 Most …

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Nigerian numismatist Adetunji Omotola and his love for Africa’s currencies

Adetunji Omotola

So TheAfricanDream.net out of curiosity recently got curious about our favorite numismatist Adetunji Omotola and his interest in Africa’s over 53 currencies, especially when the Nigerian made us aware that as of January 1, 2013, the Zambian Kwacha (ZMW) was the strongest currency on the continent. In our quest to find out more about Africa’s currencies from our amateur numismatist …

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Mothupi Kgopa 2018 book teaching young Africans early money management skills

Mothupi Kgopa

Best-selling South African author Mothupi Kgopa is out with a new book titled ‘African Wealth: Little Money Bird‘. The book’s objective is to assist parents to teach their children money management from an early age. Kgopa’s new book seeks to get parents on the continent to lead the new revolution of raising financially literate children. As recounted in the book: …

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