China declares war on Ponzi schemes, fundraising ploys

Chinese police will strike hard against shady financial schemes because of the risk of social unrest from such fundraising ploys, according to the Public Security Ministry. The warning came a day before a rare gathering of thousands of protesters in Beijing on Monday. They were members of Shanxinhui (Kindness Exchange), a fundraising scheme declared illegal […]

Dufil, privately held Nigerian noodle firm, to raise N40bn from debt market

Nigeria-based West Africa leading noodle company, Dufil Prima Food, is putting finishing touches to its plans to raise N40 billion from the Nigerian debt market, it has emerged. The debt being raised is equivalent to $131 million. Popularly known across the sub-region for its leading products, Indomie, the company is now well diversified as a […]

U.S. dollar, bond yields climb, with focus on Fed

The U.S. dollar rose from its lowest level in more than a year and U.S. Treasury yields climbed on Monday as investors braced for news from this week’s U.S. central bank meeting and possible hints on when the next interest rate hike is coming. Further developments in Washington, including on U.S. President Donald Trump’s inner […]

Ghana banks seek to boost deposit with mobile money

A record number of Ghanaians are saving money using mobile phones as lenders push products to lure deposits using technology that is cheaper than building branches, according to a Bloomberg report. Deposits with mobile-money providers jumped 25 percent to 1.57 billion cedis ($360 million) this year through April, the Accra-based central bank said in a […]

Should frustrated savers gamble on the stock market or play it safe?

For savers it has become known as the lost decade. While there had been some prospect of the Bank of England raising interest rates in the near future, the hope was dashed this week when inflation figures fell unexpectedly for June. Also dashed were the hopes of savers that they would get something approaching a […]

Week ahead-small-cap rally could shrink on earnings, tax reform hurdles

Optimism is souring around small-cap stocks for some investors, with a host of factors conspiring to up-end gains that have taken them to record highs. Small-caps, which led the market’s rally just after the Nov. 8 election of Donald Trump as U.S. president, are facing weak earnings forecasts, little progress on tax reform and recent […]

Updated- Fidelity, Skye, Sterling, UBA deny concealing TSA funds

Skye, Fidelity, UBA and Sterling banks, four of the seven banks facing charges over $793 million unremitted TSA funds have issued statements denying concealing any TSA funds as being alleged by the authorities. While Skye Bank said the alleged funds were held by them with the full knowledge of the relevant authorities, including the Central […]

Insurance expert, Funmi Babington assumes CIIN leadership

Funmi Babington-Ashaye, the Chief Executive Officer (CEO) of Risk Analyst Insurance Brokers Ltd, has been elected to assume the leadership of the Chartered Insurance Institute of Nigeria (CIIN). Seun Banwo, the Corporate Affairs Manager of CIIN, told the News Agency of Nigeria (NAN) in Lagos, Thursday, that Babington-Ashaye would officially assume the seat July 25 […]