All News and Announcements
CBN NGN50 Billion Facility for Households & MSMEs in Nigeria
In March 2020, the Central Bank of Nigeria released Guidelines for the Implementation of the NGN 50 Billion Targeted Credit Facility aimed at providing succor to households and MSMEs that have been adversely affected by COVID-19.
Sesacash Multi-Currency Wallet Partners With P2P Trading Platform Cryptolocally to Power Crypto Payments to Africa
Decentralized peer-to-peer crypto trading platform CryptoLocally and blockchain-powered on-demand digital finance and payment platform, Sesacash, will be working together to address the many challenges confronting African nations in the financial sector.
Flash Money App Launches to Boost Financial Inclusion in Congo
Congo-based fintech Flash has launched a payment tool including a Visa card offering, Flash Money, for the Congolese market.
COVID-19 (Coronavirus) Drives Sub-Saharan Africa Toward First Recession in 25 Years
Growth in Sub-Saharan Africa has been significantly impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years, according to the latest Africa’s Pulse, the World Bank’s twice-yearly economic update for the region.
BoG Reduces Primary Reserve Requirement to Support Economy
The Bank of Ghana has announced a raft of measures aimed to contain the economic impact of the COVID-19 on the economy and to enhance access to credit.
CBN Cuts Interest Rates, Provides N50 Billion Credit
The Central Bank of Nigeria has announced its first set of policies to cushion the negative impact the deadly Coronavirus on Nigerian businesses and economy.
Fintech Credit Provider 4G Capital Adjusts Business Operations to Cope with Coronavirus Outbreak
Fintech credit provider 4G Capital, a firm that supports individuals and companies across Africa, has introduced operational and services updates for its business operations across Kenya and Uganda.
FNB Extends Aid for Battling SMEs in South Africa Amid COVID-19, Lockdown
Amid the global COVID-19 pandemic and 21-day lockdown faced by South Africans, First National Bank has announced additional measures to assist small and medium-sized enterprises battling with funding in the country.
Africa Turns to Mobile Payments as a Tool to Curb COVID-19
Governments and startups on the continent are implementing measures to shift a greater volume of payment transactions toward mobile money and away from cash. It’s an option facilitated by the boom in fintech that’s occurred in Africa over the last decade.