Credit

The Remarkable Journey of Payaza: A Bright Beacon in African Fintech Before the significant announcement from Agusto & Co., Payaza had already carved a niche for itself by attaining investment-grade ratings from reputable agencies such as Global Credit Ratings (GCR), an affiliate of Moody’s, and DataPro, Nigeria’s prominent rating agency. The endorsement from Agusto & Co. now positions Payaza as one of the few fintech companies across Africa to be triple-rated. This marks a pivotal moment—not just…

This recent development underscores a significant uptick in investor confidence regarding Ghana's economic recovery, strongly driven by the efforts of Finance Minister Dr. Cassiel Ato Forson. It's remarkable how resilient economies can be, and Ghana's journey serves as a poignant reminder of this resilience. Eurobond Restructuring and External Debt Talks Drive Upgrade Fitch’s optimistic assessment stems from Ghana's noteworthy strides in debt restructuring. A prime example is the successful negotiation of $13.1 billion in…

In 2022, Pillar raised £13M (approximately $16.9M) in pre-seed funding to develop an innovative platform aimed at helping immigrants gain access to credit products as they settle in a new country. LemFi, through its recent acquisition of Pillar, is set to inherit this technology, positioning itself as the first significant remittance platform to integrate credit offerings into its core services. The deal has already received approval from the Financial Conduct Authority (FCA), and it also welcomes Pillar’s visionary…

The Africa Carbon Support Facility: A Step Towards Sustainable Growth In a world increasingly aware of its environmental footprint, the Africa Carbon Support Facility (ACSF) emerges as a beacon of hope for African nations. Currently in its design phase, this initiative boasts two pivotal components aimed at reshaping the landscape of carbon trading on the continent. How can a simple concept like carbon credits catalyze monumental change? Let's dive deep into this transformative endeavor. The first component of ACSF is…

Tragedy Strikes in Mogadishu: Al-Shabaab Attack Leaves 15 Dead at Recruitment Base By Ali Musa, Axadle Times International – Monitoring MOGADISHU, Somalia – A cloud of grief hung over Mogadishu on Sunday as the al-Shabaab group claimed responsibility for a heinous attack at a military recruitment base. The strike, which left 15 potential recruits dead and many others injured, targeted the hopefuls who dreamt of serving their nation. In a…

Moody's Credit Rating Agency made headlines yesterday by downgrading the United States' sovereign credit rating. This decision stemmed from apprehensions regarding the nation’s escalating $36 trillion debt. Such a move could pose challenges for President Donald Trump as he seeks to implement tax cuts, potentially sending shockwaves through global markets. Historically, Moody's awarded the United States its esteemed Triple-A rating back in 1919. Now, it stands as the final major credit agency to execute a downgrade. The…

The Recent Downgrade of the U.S. Credit Rating: What It Means for Citizens and Investors In a significant shift for the United States, Moody’s Investors Service recently downgraded the country’s credit rating from Aaa, its highest level, to Aa1. This change underscores a growing concern about fiscal stability amidst the complex political and economic landscape. But what does this truly mean for Americans, investors, and the economy at large? To provide some context, various countries maintain Aaa ratings from Moody's,…

The Africa Centres for Disease Control and Prevention, alongside the World Health Organisation, have sounded the alarm on the current mpox outbreak in Africa. They've classified it as a health emergency. The epidemic, originating in the Democratic Republic of Congo, has now seeped into neighboring nations. According to Fitch, seven countries have verified mpox cases: Cameroon, Côte d'Ivoire, Kenya, Nigeria, Rwanda, South Africa, and Uganda. In a cautionary note, Fitch warned investors about potential under-reporting,…

Salaam Somali Bank Provides Micro Credit to Small Businesses in Mogadishu MOGADISHU, Somalia - The Salaam Somali Bank, which is a leading private bank in Somalia, continues to contribute to the country's economic growth by providing free microfinance funds to develop small businesses. On Thursday August 19, 2021, the Bank's branch in the Bakaro market provided microfinance funds called “Qardu…

African champion 2019 with Algeria, double champion in England with Leicester and Manchester Metropolis, Riyad Mahrez has largely gained his place on the soccer planet. However not every thing was straightforward for this pure product from Sarcelles, within the Paris suburbs. A metropolis that has given him every thing, and that he at all times honors with discretion. Mancunia meets PSG on Wednesday 28…