South Korean businesses accept ethereum from Olympic guests

Cryptocurrency holders at the PyeongChang Winter Olympics can now use ethereum at seven locations in South Korea instead of won. According to a report from the Korea Times, six locations in PyeongChang and one in Gangneung are accepting the digital currency from customers. South Korean app Coinduck, created by blockchain builder Chain Partners, will facilitate the transactions, charging […]

Bitcoin returns over $11,000 as Ethereum founder warns on digital currencies

Bitcoin returns above $11,000 on Monday, continuing a strong rebound after undercutting $6,000 intraday on Feb. 6., after Ethereum’s co-founder warned that cryptocurrencies “could drop to near-zero.” Bitcoin rose 7% to $11,138.33 on Monday, according to Coindesk. Bitcoin retook the $10,000 mark last Thursday. Bitcoin Investment Trust rose sharply last week in sympathy with Bitcoin and other digital currencies, Overstock.com also […]

Domestic investors press for local listing of successful FG $2.5bn Eurobond

Domestic investors have expressed satisfaction with the successful issuance of $2.5 Eurobond by the Nigeria government. Some of the investors who spoke with business a.m. said the Eurobond would give ample opportunity for local investors to make more money if it is available for trading in Nigeria trading floor. Mallam Shehu Mikail in his view […]

Nigeria sells $2.5bn euro bonds to replace debt

By Remilekun Davies…  Nigeria sold a record $4.8 billion of Eurobonds last year, most recently in November, when it issued $3 billion of 10- and 30-year debt. Yields on the latter rose six basis points to 7.7 percent by close Thursday, the highest since they were issued. Nigeria’s local bonds have an average yield of […]

World Bank approves $486m for Nigeria’s electricity grid improvements

The World Bank Thursday approved an International Development Association (IDA) credit and an IDA scale-up facility credit in the tune of $486 million for the rehabilitation and upgrading of Nigeria’s electricity transmission substations and lines. The investments, which are under the Nigeria Electricity Transmission Project, would increase power transfer capacity of the transmission network and […]

Fintech boosts financial inclusion rate in Africa to 34%

Ecobank, the pan-African banking group, has highlighted the complementary role of fintech in financial inclusion on the continent, saying that fintech has helped boost inclusion rate to 34 percent. In an announcement of its role as sponsor of the 2018 Africa Tech Summit, which opens Today, Wednesday, February 14, 2018, in Kigali Rwanda, the bank […]

Financial benefit of skipping Valentine’s day

When Yvette Pappoe first started dating her now-fiance, they attempted the traditional Valentine’s Day restaurant dinner. But Cupid had other plans in mind. As the two headed out into the cold to find a romantic dinner spot, they quickly realized every restaurant was booked. Fortunately, inspiration struck, Pappoe says, when her fiance realized that the […]

Egypt debt to UAE oil company drops to $228m

Egypt has paid $164 million to the UAE-based Dana Gas reducing its debt to the company to $228 million, a statement on the organisation’s website on Sunday said. The funds, according to middleeastmonitor, were paid by Cairo last year, the company added. Egypt has faced difficulties in paying foreign companies’ debts since the January revolution of […]

BoE keeps rate at 0.5%, warns rate hike sooner than expected

The Bank of England voted unanimously to keep the Bank Rate at 0.5 percent on February 8th as widely expected, saying that inflation is expected to remain around 3 percent in the short term, reflecting recent higher oil prices. The bank also warned that interest rates may rise sooner than anticipated, as the economy will […]

Tanzania inflation rate unchanged at 4.0% in January

Consumer prices in Tanzania advanced 4.0 percent year-on-year in January of 2018, unchanged from the previous month. The inflation rate stood at its lowest level since January of 2015, mainly due to a slowdown in housing and utilities prices. Year-on-year, prices slowed for housing and utilities (7.1 percent compared to 8.3 percent in December); clothing […]