Flutterwave Gets $35m Funding
Flutterwave, a Nigerian-based payments technology company with operations in Africa, yesterday announced that it has closed a $35 million Series B from a consortium of strategic investors. The round was co-led by Greycroft & eVentures with additional participation from CRE Venture Capital, WorldPAY FIS, VISA, Green Visor and Endeavor. Flutterwave connects the African continent to […]
CDC Commits $39.2m For SMEs
The CDC Group, the UK’s publicly owned impact investor, has announced the commitment of $39.2 million to support SMEs in West Africa. CDC is backing Verod Fund III and Adiwale Fund I, West-African based private equity funds targeting SMEs in the region, with commitments of $19.2m and $20 million respectively. In West Africa, banks and […]
Tackling Nigeria’s Housing Deficit
That shelter is one of the basic needs of human beings is not in doubt. However, the population of the country growing at an alarming rate coupled with urbanisation has been seen as constituting danger for a rise in housing deficit which is estimated to be between 17 and 20 million housing units at a […]
Libya War Costing $77m In Oil Revenue Per Day
Libya’s oil production has slowed to a near halt after forces loyal to warlord Khalifa Haftar blockaded ports and stopped pipelines. The move is costing the country’s struggling economy $77m a day. Read Also: Why Is Switzerland So Wealthy? Shortages of basic goods and price hikes are expected to follow. Al Jazeera’s Tony Birtley reports […]
Burundi To Give Outgoing Presidents Villa, Over $500K
A luxury villa and a one-off sum equivalent to more than $500,000 – that is what presidents in Burundi will receive after leaving office, according to new legislation adopted by the country’s Parliament. The move on Tuesday came months before an election scheduled for May, in which President Pierre Nkurunziza has said he will not run. […]
Israeli Troops Kill Three Palestinians Near Gaza Fence
Israeli forces have shot and killed three Palestinians by Gaza’s perimeter fence, the Israeli military has said. The Israeli army said the group threw an explosive device towards them after attempting to cross the fence from the besieged Gaza Strip on Tuesday evening. It said troops had cordoned off an area near the southern end […]
US Threatens To Hike Tariffs On UK Car Exports
Treasury Secretary Steven Mnuchin said Wednesday that the United States would consider imposing tariffs on cars made in the United Kingdom if the country moves ahead with a tax on digital services. Mnuchin said at the World Economic Forum in Davos, Switzerland that the United States regards digital services taxes such as the one imposed by France, and […]
Top US Bankers Don’t Want To Lead The Climate Fight
America’s most powerful bankers don’t want to lead the way in tackling the climate crisis. While professing deep concern about global warming, top executives at the World Economic Forum this week expressed reluctance to act as referees in financial markets to reduce global emissions of greenhouse gases. That, they said, is not their role, despite calls from activists […]
Companies Are Finding New Ways To Go Public
Last year was rough for many new stocks. Sure, Beyond Meat (BYND) soared. But Uber (UBER) and fellow ridesharing unicorn Lyft (LYFT) both flopped in their Wall Street debuts. WeWork struggled due to significant concerns about its business model and corporate governance. You’d think companies would want to avoid Wall Street in 2020. Not so fast. As Spotify (SPOT) and Slack (WORK) have proved, this is an efficient way […]
Why Is Switzerland So Wealthy?
Many people think that Switzerland’s wealth is due to its status as a fiscal haven. But Panama, Cyprus, and the Republic of Liberia, are also fiscal havens. Africa not only offers low taxes to international companies but also offers them capacity. However, countries in Africa remain in low income status while Switzerland remains one […]
Ten-Man Arsenal Hold Chelsea In Torrent Of Late Goals
Ten-man Arsenal slowed Chelsea’s charge for a Champions League place on Tuesday as Manchester City kept up their distant pursuit of Liverpool with victory at Sheffield United on a dramatic evening of Premier League football. Newcastle improbably came back from 2-0 down to draw against Everton, with substitute Florian Lejeune netting twice in stoppage time, […]
Buhari Asked To Disband Hisbah Over Illegal Activities
The Human Rights Writers Association of Nigeria, HURIWA, has called on the Nigerian Government to immediately disband the Hisbah police operating in the North. HURIWA, a frontline advocacy group, explained that Hisbah was an illegal group that violates the constitutional rights of Nigerians in the North. A statement by the National Coordinator of HURIWA, Comrade […]