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Salaam Somali Bank helps small businesses expand with free microfinance funds As COVID-19 continues to impact the global economy, a private bank in Somalia is supporting small business owners to thrive through the second phase of 2021 free microfinance funds. Salaam Somali Bank launched the annual investment program under the Qardu Hassan theme last year to develop small businesses…

Salaam Somali Bank offers free microfinance to small businesses in Mogadishu Salaam Somali Bank continues its second phase of a free microfinance program launched in 2021 with the aim of promoting small businesses in all regions of the Horn of Africa country. On Saturday, March 20, the bank's branch in Suuq Ba'ad in Mogadishu provided free microfinance to local retailers as part of…

Salaam Somali Bank helps small businesses grow MOGADISHU, Somalia - Salaam Somali Bank (SSB) continues to provide free microfinance to small businesses in the country as part of a grant program aimed at improving the start-up economy. On Thursday, the bank's branch in KM5 in Mogadishu provided free microfinance to local retailers, including women, to help improve their small and…

Small entrepreneurs benefit from free microfinance from a local bank MOGADISHU, Somalia - The private Salaam Somali Bank's branch in Hamarweyne, Mogadishu, on Thursday provided entrepreneurs with free microfinance as part of the annual non-profit investment program called "Qardu Hassan". The annual fund is aimed at developing and encouraging small businesses across Somalia, according to the bank's…

Turn in the alleged money laundering case of Access Bank. This subsidiary of a Nigerian bank is under investigation, suspected of allowing businessman Saleh Assi, as well as other personalities under US sanctions for terrorist financing, to open accounts for fictitious companies. An RFI survey had shown that millions of dollars had actually been paid in cash to at least one suspect account and withdrawn…

In the Central African Republic, the World Bank released its annual report on Monday, November 30. In 2019, growth slowed slightly to 3.1%, but remained good compared with the countries in the region. However, the outlook for 2020 is much worse ... The World Bank predicts zero or even negative growth of up to 1.2% for 2020. as…

The head of the crushing room at the Central Bank of Congo in Lubumbashia was arrested on Friday, November 20, for embezzling public funds. But according to NGO Justicia Asbl, a dozen other agents should be investigated for theft in 2019 of bags of used Congolese banknotes that are normally intended to be perforated and then crushed.…

Following the bloody attack on the Nigerian youth protest movement by the military, authorities are keeping the pressure on some identified individuals within the #EndSars movement. Twenty of them's bank accounts were frozen, following a decision by the Nigerian central bank. The #EndSars movement has always claimed to be leaderless, but the Nigerian authorities seem to have identified some of its alleged "promoters". They are under increasing pressure, almost three weeks after the army intervened the peaceful movement of…

Weighted by the economic downturn from the Covid-19 pandemic, growth in sub-Saharan Africa is expected to fall to -3.3% by 2020, dragging the region into its first economic recession in 25 years, according to the latest regional economic analysis ”, Produced by the World Bank. The pandemic also risks pushing 40 million Africans into extreme poverty and erasing at least five years of progress in the fight against poverty. It is a relaxing figure: 40 million Africans are at risk of falling into extreme poverty, about three…

A French couple were arrested in early October in the Limoges with 20,000 euros in moldy banknotes in their possession. Banknotes coming from shares plundered at Benghazi's central bank in Libya in late 2017. At that time, the city center, where the establishment is located, was taken from the Islamists by the forces of Khalifa Haftar. And witnesses accuse the son of the strong man from the eastern part of the country of having seized this liquidity flowing from Europe. By the end of 2017, the center of Benghazi was still…