Europe Global 

The businesses crowdfunding to survive

“Running a small business is touch and go at the best of times,” says Rachel Ho, director of an independent coffee shop in Tottenham, north London. And these, it seems fair to say, are far from the best of times. Ahead of warnings the UK’s economy could shrink by 35%, the Treasury set aside billions to keep businesses afloat during the coronavirus lockdown. But for many, access to that funding is proving too difficult or too slow – and fewer than 2% of the 300,000 inquiries to the government’s loan…

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Technology 

Kenya Re eyes block chain technology to curb fraud

Block chain technology is an automated process that is a cryptographically secured form of record-keeping, which makes verification of data easier. According to surveys recently released by McKinsey, automation can reduce the cost of fraudulent claims by as much as 30 per cent. The company seeks to expand into other countries as it eyes to cover more insurers against risks. “Expansion to different markets and tapping into different segments is instrumental in unlocking the potential and overall business. To give more of a local context, Kenya Re has diversified its…

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Energy Financial Services Utilities 

Russia lends Egypt $25 billion for Dabaa nuclear power plant

CAIRO– Atomstroyexport, a subsidiary of Russia’s State Atomic Energy Corporation, or Rosatom, announced Feb. 17 that 3 Egyptian business were granted a tender offer for constructing the first phase of Egypt’s Dabaa nuclear reactor. The 3 Egyptian business, completing amongst 10 others, are Petrojet, Hassan Allam and the Arab Specialists. The Egyptian federal government intends to start negotiations within the next couple of days with the Egyptian Nuclear and Radiological Regulatory Authority to acquire approval to start carrying out the Dabaa nuclear plant project. The plant will be built in…

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Healthcare 

Amaokpala youths embrace campaign against Lassa fever, Coronavirus

Youths of Amaokpala in Orumba North Local Government Area of Anambra State have joined in the campaign against Lassa fever and Coronavirus. Amaokpala youths came out en mass during public enlightenment outreach on the prevention of Coronavirus, Lassa fever and other infectious diseases, organised by the Special Adviser Governor Willie Obiano to on Public Orientation and Special Duties, Mrs Ify Obinabo. The event also featured intensive training on Digital and knowledge-based economy. Speaking at the event, Mrs Ify Obinabo disclosed that one of the importance of the meeting was to…

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Agriculture Financial Services 

NIRSAL facilitates N102b to stimulate agric, creates 400,000 jobs

The Nigerian Incentive-Based Danger Sharing System for Agricultural Financing (NIRSAL) has validated that it has actually helped with over N102 billion as loans from industrial banks because its inception across the numerous farming value chains in the nation. NIRSAL Plc, a wholly-owned corporation of the Reserve bank of Nigeria (CBN), is a $500 million non-bank monetary institution specifically designed to redefine, measure, re-price and share agribusiness-related credit threat. By its mandate, NIRSAL is not a financing institution however was developed to stimulate the circulation of inexpensive financing and investments into…

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