financial

Afreximbank: A Catalyst for Change in Africa’s Energy Sector In a noteworthy development, Prof. Benedict Oramah, President and Chairman of the Board at Afreximbank, recently shared significant strides the organization has made during the closing session of its 32nd Annual Meetings. His insights offered a profound glimpse into how targeted financial interventions can reshape an entire continent's energy landscape. Oramah introduced the concept of what he refers to as “African Best…

Ethiopia's Bold Move Towards Banking Liberalization Ethiopia is embarking on a transformative journey poised to reshape its financial landscape. The nation's latest decision represents a pivotal shift aimed at liberalizing its banking sector, an initiative that breaks away from a long-standing restrictive approach. Indeed, this moment is not just a regulatory adjustment; it signifies Ethiopia's commitment to embracing global financial norms. This landmark announcement came directly…

The Future of Kenya's Financial Regulations The Kenyan government's recent initiatives, led by President William Ruto, signal a transformative approach to combating financial crimes in the country. Ruto's decision to sign a pivotal anti-money laundering bill doesn’t just arise from a bureaucratic necessity; it embodies a broader vision. It aims to position Kenya as a beacon of financial integrity in East Africa, a region fraught with financial irregularities. As President Ruto eloquently…

Nairobi (AX) — A significant shift is underway in Ethiopia’s Somali Region, where religious and community leaders are championing a movement aimed at redefining the marriage customs that have, over time, morphed into overwhelming financial burdens for families. This initiative, encapsulated in a binding decree, aims to alleviate the pressures surrounding wedding festivities while encouraging young couples to take the plunge into marriage. This decree, spearheaded by Hamaro’s Islamic Affairs Council and supported by local…

Challenges and Changes: The Somali Army in its Fight Against Al-Shabaab MOGADISHU, Somalia - Recent weeks have presented daunting challenges for the Somali National Army (SNA), as it struggles to maintain its footing across various strategic frontlines. The fall of Adan Yabaal starkly exemplifies the difficulties faced by a force striving to assert itself, despite significant investments from international partners. Amidst dwindling financial support, spearheaded by the United States, the SNA grapples with a…

As of March 2025, the East African Community (EAC) Secretariat has disclosed a troubling figure: member states collectively owe a staggering $58 million in contributions. This financial shortfall has sparked significant challenges for the bloc, leaving many to ponder the future of regional cooperation in East Africa. The pressing financial situation was the focal point of a recent meeting held by the EAC Council of Ministers in Arusha, Tanzania. There, leaders gathered to confront the crisis laid bare by a…

MTN Group Addresses Recent Cybersecurity Incident In an era where digital security is paramount, MTN Group, a leading telecommunications giant, has recently found itself at the center of a significant cybersecurity event. The company's spokesperson emphasized that “our core network infrastructure, billing systems, and financial services platforms are safe and fully functional.” However, they did not disclose specifics regarding the number of countries affected or the scope of the incident,…

Exploring the Premier League's Financial Ascendancy It's fascinating to consider that today, the Premier League has evolved into a multi-billion-dollar titan, far surpassing its European counterparts in virtually every financial domain — from broadcasting revenue and sponsorship contracts to matchday earnings and a burgeoning relationship with the sports betting sector. How did the Premier League craft this illustrious empire? The answer lies in artful strategy, cutting-edge marketing, and a wondrous fusion of athletic…

Snapshot of Global Scam Losses: Who Tops the List? In today’s interconnected world, scams have taken on sophisticated digital dimensions, targeting unsuspecting victims with increasingly cunning tactics. But who bears the brunt of these malicious acts? Let’s delve deeper into the global landscape of scam-related losses. Rank Country Average Loss (USD) 1 United States $3,500…

As the dawn of 2024 approached, a significant legislative move unfolded in The Gambia. The National Assembly took a historic step, passing a bill aimed at establishing a specialized tribunal dedicated to prosecuting human rights violations attributed to the tumultuous reign of former president Yahya Jammeh. This decision, though monumental in its moral implications, was further galvanized in December when the Economic Community of West African States (ECOWAS) announced its commitment to assist The Gambia in creating this…