Nigerian Stock Exchange Activity Rises after Government Weakens Currency
Nigerian finance minister urges less external borrowing
Published on Jul 12, 2017
Nigeria’s finance minister has said the country must not borrow more to fund its budget and should instead raise money it needs by other means. This approach calls into question planned foreign loans of $2 billion from lenders like the World Bank. Africa’s largest economy is in its first recession in 25 years, and had planned to borrow extensively from overseas to fund a record budget aimed at helping the country spend its way out of its economic doldrums. Finance Minister Kemi Adeosun’s comments suggest that Nigeria will no longer seek such loans, or an additional $1.5 billion it had planned to raise from international debt markets. In May, the head of Nigeria’s budget office said the country has a shortfall of $7.5 billion for its 2017 budget expenditure, and said that would be addressed with $3.5 billion from the aforementioned loans.
New World Order One World Currency Starting In Africa? – Testing?
Zimbabwe’s government aims to improve revenue collection through the integration of information communication technology across different sectors and departments. The move will also enable citizens access information at the stroke of a few keys. Zimbabwe government to implement digital systems across its departments.
The campaign and propaganda for a digital Africa has been in the works for some time. Headline stories do put thoughts in the mind whether they are true or not. How can you get the masses to believe that digital money is the way to go? Create a story?
Financial Inclusion: Cash cost consumers 1.77 billion dollars in South Africa
Cash cost consumers 1.77 billion dollars or 0.52 percent of the South Africa’s Gross Domestic Product in 2015. This is according to a new Mastercard study released on Wednesday at the World Economic Forum on Africa. With the poor being the biggest losers. Angelo Coppola spoke to Mark Elliot.
DIGITAL MONEY MAKES STEALING A LOT EASIER – NO MORE BAILOUTS FOR BANKS, THEY CAN JUST ADD MONEY ANYTIME THEY WANT. ENDLESS CASH WITH THE DIGITAL SYSTEM?
What is wanted for the rest of the world, happens in Africa first!
2017 – Commercial Bank of Africa unveils a new digital money management
Commercial Bank of Africa has unveiled a new digital money management and consumer banking service, which transforms how retail customers manage and interact with their finances, the new app features a personal financial management tool, which enables customers track, plan and analyse their income against their expenditure on a regular basis.
2016 – Africa Inc: Single currency for East Africa
It’s been a tough year for African currencies, which have been pressured by the commodity price slump as well as global market uncertainty. Amidst it all, both Egypt and Nigeria have decided to do away with their dollar pegs – triggering massive devaluation. This week on Africa Inc., we take a closer look at the effectiveness of a strategy like this and the longer term implications for these respective economies. And if traditional currencies are giving you a headache, perhaps a virtual currency is the answer? Tune in to find out.