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Global banks are worsening the climate crisis in Africa

Banks finance harmful projects A new report by ActionAid, an international non-governmental organization, has revealed how global banks are financing projects that contribute to the climate crisis in Africa. The report, titled How the Finance Flows; the banks fueling the climate crisis, shows that every year, 11 banks from Europe, the Americas and Asia pump in money to finance fossil fuel and industrial agriculture projects in the continent. These projects…

Qatar’s banking sector assets shrink in July amid public sector credit decline

Qatar’s banking sector total assets declined by 2% month-on-month (MoM) and by 1.9% year-to-date (YTD) in July to QR1.86tn ($510bn), according to a report by QNB Financial Services (QNBFS). The report attributed the drop in assets to a fall in both domestic and foreign assets, as well as a decline in both loans and deposits with banks in Qatar. Public sector loans drag down credit growth The report said that…

NTISB warns of rising financial scams and advises caution

The National Telecommunication and Information Security Board (NTISB) has issued an advisory to the public and the banking sector amid a surge in financial and banking scams using phishing and vishing techniques. The Board has admitted that there is no technical solution that can eradicate and detect social engineering, which is the main tactic used by malicious actors to deceive and defraud unsuspecting victims. How scammers exploit bank accounts According…

Nigerian Tribune: A Voice of the People Since 1949

The Nigerian Tribune is the oldest surviving private newspaper in Nigeria. Established by one of Africa’s foremost nationalists, Chief Obafemi Awolowo, in 1949, the newspaper has been a voice of the people for over seven decades. The Nigerian Tribune covers a wide range of topics, from politics and business to sports and entertainment, with a focus on national and regional issues. The Nigerian Tribune’s History and Mission The Nigerian Tribune…

BlinkPay: A New Zealand Fintech Startup That Aims to Revolutionise Open Banking

BlinkPay is a new fintech startup that aims to emulate the success of open banking in the UK with its innovative platform that connects consumers, businesses and banks in New Zealand. The company, which was founded in 2022, has recently launched its beta version and is looking for early adopters to test its features and provide feedback. What is Open Banking and Why is it Important? Open banking is a…

UK and Belgium Offer Savers a Way to Beat Low Interest Rates

The governments of the UK and Belgium have launched state-backed savings plans that offer higher interest rates than most commercial banks. The move is aimed at forcing banks to compete for savers’ money and pass on the benefits of rising official interest rates. UK’s NS&I Bonds Pay 6.2% for One Year National Savings & Investments (NS&I), the UK state-owned savings bank, is offering one-year retail savings bonds paying 6.2%, the…

Moneythor and Paymentology Join Forces to Deliver Data-Driven Personalisation for Digital Banking Customers

A New Partnership to Enhance Customer Experience Moneythor, a provider of data-driven engagement solutions for financial institutions, and Paymentology, a global issuer-processor, have announced their partnership to bring actionable and event-driven experiences to digital banking customers. The partnership leverages Paymentology’s “Framework for Authorisation and Settlement Transmission” (FAST) interface, which offers a rich, fast and deep data stream for Moneythor’s real-time data-driven recommendations, insights and nudges. The partnership aims to deliver…

Banks Fueling Climate Crisis by Funding Fossil Fuel Expansion in Global South, Report Finds

A new report by ActionAid, an international non-governmental organization, reveals that major banks are pouring trillions of dollars into the expansion of fossil fuel and industrial agriculture industries in the global south, despite the urgent need to reduce greenhouse gas emissions and tackle the climate crisis. Banks Ignore Paris Agreement and Support Fossil Fuel Expansion The report, titled Banking on Climate Chaos 2021, analysed the loans and underwriting of 60…

BusinessDay Nigeria: A leading source of business intelligence and market-moving news

BusinessDay Nigeria is a daily business newspaper that covers the latest developments in the Nigerian and West African economy, politics, technology, culture, and society. It is the only Nigerian newspaper with a bureau in Accra, Ghana, and it has both daily and Sunday titles. It was established in 2001 and has since become a trusted source of information and analysis for business leaders, investors, policymakers, and academics. BusinessDay Nigeria’s vision…

MEST Africa Challenge 2023: A Chance to Win $50,000 for Tech Startups

Are you an African tech startup looking for funding, mentorship, and exposure? If yes, then you might want to apply for the MEST Africa Challenge 2023, a pan-African pitch competition that offers a $50,000 equity prize and a place in the MEST Africa incubator of your choice. What is the MEST Africa Challenge? The MEST Africa Challenge is an annual event that showcases the best tech startups from Ghana, Nigeria,…