Episodios

  • Egyptian fintech giant MNT-Halan Raises $157.5 Million to Expand Operations

    Egyptian fintech giant MNT-Halan Raises $157.5 Million to Expand Operations
    Jul 24 2024
    Egyptian fintech giant MNT-Halan, the country’s only private unicorn, has raised another $157.5 million in a new funding round. MNT-Halan, The microfinance lending and payment company runs a hybrid business model. It targets customers lacking access to credit and financial services, and serves as a distribution medium for merchants selling fast-moving consumer goods (FMCGs). The company acquired Advans Group in Pakistan, instantly topping its user base by 62,000, and obtaining a microfinance bank licence to continue operating in Pakistan. MNT-Halan’s expansion philosophy is simple: To expand into populated, underserved areas that are heavily cash-reliant. With this new funding, MNT-Halan is setting its sights beyond Egypt. Nakhla highlighted plans to expand regionally through strategic acquisitions.
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    2 m
  • Biden Drops Out of Presidential Race Amid Pressure

    Biden Drops Out of Presidential Race Amid Pressure
    Jul 22 2024
    United States President Joe Biden has heeded calls to withdraw his re-election bid, thrusting this year’s already high-wire race for the White House into an uncertain territory. The announcement by the sitting president in US history came amid mounting pressure from his fellow Democrats, with more than 30 Congress members publicly pushing for his exit. Biden, says he will remain in his role as president and commander-in-chief until his term ends in January 2025 and will address the nation this week. Biden says he has intended to seek reelection but I believe it is in the best interest of the party and the country to stand down and to focus solely on fulfilling his duties as President for the remainder of his term.
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    1 m
  • Zambia President Fires Entire Anti-corruption Board Fired for Corruption

    Zambia President Fires Entire Anti-corruption Board Fired for Corruption
    Jul 22 2024
    Zambia's President Hakinde Hichilema has fired the entire board of the country's corruption-busting body after they were accused of corruption, which they deny. The head of the Anti-Corruption Commission (ACC), Thom Shamakamba, resigned from his post and the country's solicitor-general - Marshal Muchende - were accused of taking kickbacks which they strongly deny the allegations. The whistleblower, O’Brien Kaaba - who was once a board member of the ACC says the same "immunity deals" under the former governing party, the Patriotic Front, were now being "used under the current government in a manner that shows no commitment to fighting corruption. He says the ACC must be reformed, alleging that the rot goes beyond the four fired board members and affects the whole institution.
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    1 m
  • Nigerian Government Votes N36bn to Convert 30,000 Vehicles

    Nigerian Government Votes N36bn to Convert 30,000 Vehicles
    Jul 22 2024
    The Federal Government will spend an average of N36bn to convert 30,000 petrol or diesel-powered vehicles to start running on Compressed Natural Gas in the next 90 days. The government says it had acquired 30,000 CNG conversion kits for distribution free of charge nationwide within the period. The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, says President Bola Tinubu is taking steps to ensure transporters use CNG to replace high-priced petrol and diesel, believing this would reduce the cost of transportation and by extension, the rising cost of food items. The PCNGi boss says the President is interested in distributing one million CNG kits to commercial drivers across Nigeria as palliatives.
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    1 m
  • Nigeria Proposes New Bill for E-commerce Platforms

    Nigeria Proposes New Bill for E-commerce Platforms
    Jul 22 2024
    Nigerian President Bola Ahmed Tinubu wrote to the senate to demand a 50% tax on foreign exchange gains made by banks. The federal government and the National Insurance Commission are developing a bill that demands new information requirements from e-commerce platforms In a new bid to regulate and protect trading on Nigerian e-commerce platforms. The proposed bill requires e-commerce platforms like Jumia and Konga to provide crucial information about themselves, including their legal names, addresses, and phone numbers. The information will be used to communicate with the seller and used in cases of legal proceedings.
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    1 m
  • Nigerian Lawmakers to Investigate Dangote's Inferior Fuel Allegations

    Nigerian Lawmakers to Investigate Dangote's Inferior Fuel Allegations
    Jul 22 2024
    The House of Representatives has expressed readiness to investigate allegations that products being produced at the Dangote Refinery are inferior to imported ones, and will also test the refinery’s products as part of its investigation. The Speaker of the House of Representatives, Rt Hon. Tajudeen Abbas, had expressed concern over the controversy surrounding the quality of imported refined products into Nigeria and stated that the Green Chamber would establish a committee to investigate the matter thoroughly. He emphasised that sampled products from various sources would undergo testing as part of this initiative.
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    1 m
  • Finland Passes Law to Block Asylum Seekers Crossing From Russia

    Finland Passes Law to Block Asylum Seekers Crossing From Russia
    Jul 15 2024
    Finland’s parliament has passed a controversial bill granting border guards the power to block asylum seekers crossing from Russia. Finland has accused neighbouring Russia of weaponising migration by encouraging many people from countries such as Syria and Somalia to cross the border, an assertion the Kremlin has denied. Helsinki has accused Moscow of promoting the crossings in retaliation for Finland joining NATO, which backs Ukraine against Russia’s invasion. The right-wing government of Prime Minister Petteri Orpo has said the bill is vital to stop future arrivals. Opponents, including several academics, legal experts and human rights groups, say it clashes with the Constitution of Finland, international rights commitments set by the United Nations and pledges by the EU and international treaties signed by Finland.
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    1 m
  • AT&T Loses Customers Data in Security Breach

    AT&T Loses Customers Data in Security Breach
    Jul 15 2024
    Telecommunications giant AT&T reports that data of nearly all customers was downloaded to a third-party platform in a security breach. The breach took place largely over five months in 2022. It hit customers of AT&T’s mobile customers, customers of mobile virtual network operators using AT&T’s wireless network, as well as its landline customers who interacted with those cellular numbers. AT&T says the data does not contain the content of calls or texts, personal information such as Social Security numbers, dates of birth, or other personally identifiable information. AT&T, however, said that there are often ways using publicly available online tools to find the name associated with a specific telephone number.
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    1 m