Banking – Sector.Africa

Nigeria likely to go into severe recession due to COVID-19, Oil price crash

July 1, 2020 Sector.Africa AdministratorAbuja, Bank, Banking, Business, Closure, COVID-19, Credit, Economy, Edu, ER, Government, Government of Nigeria, Health, IG, Leverage, LSO, MIT, Niger, NIgerian, Over, Pandemic, Poverty, project, Safe, Sea, security, Sustainability, The Number, UN, VAT, Virus, who, Women, World0 comment

The World Bank made this known in a statement in Abuja on Thursday as part of its latest Nigeria Development Update (NDU). The bank said the report indicated that Nigeria in Times of COVID-19: Laying Foundations for a Strong Recovery, estimated that the country’s economy would likely contract by 3.2 per cent in 2020. It stated that this projection assumed that the spread of COVID-19 in Nigeria would be contained by the third quarter of 2020. It however noted that If the spread of the virus became more severe, the…

Africa Education

Unity Bank Partners Dynamiss to Boost Access to E-Learning in Nigeria

June 25, 2020 Sector.Africa AdministratorAirtel, Bank, Banking, Business, Contents, COVID-19, Edu, Education, ER, Finance, Interest, Labor, Learning, LSO, MIT, Nigeria, Over, Pandemic, Student, students, Technology, UN0 comment

With Nigeria still uncertain of the school resumption due to the rapidly spreading COVID-19 pandemic across the country, the importance of e-Learning is more pronounced now more than ever. To this end, Unity Bank Plc has forged a collaborative partnership with Dynamiss, a digital learning solutions provider, to provide low-interest credits to schools to boost access to digital learning resources in Nigeria. Under the partnership, a full e-learning package comprising Microsoft School Portal, Discounted Airtel Data and Free Contents and Devices powered by Dynamiss will be supported with financing from…

Startups

South Africa’s fintech start-up Ukheshe picked for Mastercard Start Course program

June 12, 2020June 14, 2020 Sector.Africa AdministratorAfrica, Banking, Credit cards, Digital banking, Economic development, Economy, Finance, Financial services, Financial technology, Fintech, Geography of South Africa, Mastercard, Microfinance, Money, president, Provinces of South Africa, South Africa, South African people, Startup, Subdivisions of South Africa, Technology, UN, Unbanked, World0 comment

Mastercard Start Course is a special startup engagement program that enables later-stage startups to quickly scale through access to Mastercard’s technology, solutions & & partners around the globe. Concentrated on financial addition, Ukheshe’s technology platform helps banks and telcos provide budget friendly digital banking and payment services (BaaS). With client acquisition, onboarding and circulation costs that are a portion of standard merchant accounts, informal banking is now an accessible, untapped and rewarding growth market for banking partners. Sub-Saharan Africa is among the fastest-growing investment zones for monetary technology business and…

African Business News Retail

ANNE JUUKO: Empowering Uganda’s SME’s – The engine for growth

June 11, 2020 Sector.Africa AdministratorBanking, Business, Digital banking, Economic development, Economy, GDP, Gross domestic product, Manufacturing, Small and medium-sized enterprises, Stanbic Bank, Training, Uganda0 comment

KAMPALA — Amongst all the sectors in Uganda, the Small and Medium Enterprise (SME) sector remains the engine of growth for economic development, innovation and wealth creation. In recent reports by the Uganda Investment Authority, SMEs are spread across all sectors with 49% in the service sector, 33% in the commerce and trade, 10% in manufacturing and 8% in other fields. An amazing fact is that over 2.5 million people are employed by SMEs in Uganda. They account for approximately 90% of the entire private sector, generating over 80% of…

Financial Services StockMarket

Why Nigeria’s banking stocks performed well in May

June 9, 2020June 9, 2020 Sector.Africa AdministratorAfrica, Bank, Banking, Banks, Business, CBN, Central bank, Coronavirus, COVID-19, Economy, Finance, Financial markets, Government, Government bond, Market liquidity, Money, NIgerian, Nigerian Stock Exchange, Retail, Stock market, Trade, Union Bank0 comment

Virtually all the banks listed on the Nigerian Stock Exchange (NSE) witnessed varying degrees of growth in their share price during the month of May. Besides Union Bank of Nigeria Plc which declined by 0.7% and Aso Savings and Loans Plc which recorded no price movement, all the other banking stocks recorded increases according to checks by Nairametrics Research. Best banking stocks in May The best-performing banking stock for the month was Jaiz Bank Plc. The share price increased by 27.3% to N0.70, up from N0.55 in April. This is…