The National Bank of Ethiopia (NBE) issued a statement on Monday warning against cryptocurrency trading in the country. The NBE said digital currencies like crypto-currencies and bitcoins haven’t been recognized by the NBE as a transactional and payment method, state affiliated Fana Broadcasting Corporate (FBC) reported. “Ethiopia’s national currency is …
Read More »South Africa: Around 3,000 travelers stranded after airline chaos
At least 3,000 travelers to South Africa have been left stranded after airline Comair abruptly suspended all flights with immediate effect. The airline announced the suspension on Tuesday evening, citing financial issues, the BBC reported. Angry customers say Comair offered specials and accepted bookings just hours before announcing the suspension. …
Read More »US warns US companies against investing in Sudan
US authorities have issued a notice, warning US companies and individuals to do business with Sudanese state-owned and military-controlled companies. According to the State Department, there was a reputational risk of doing business with these companies amid a deterioration in the human rights situation in Sudan. It said while some …
Read More »South Africa: Beers outsell soft drinks – report
Beers outsell soft drinks in South Africa, according to consumer data analysts at NielsenIQ SA. “We track sales in over 150,000 outlets… whether that’s formal grocery stores, taverns, spaza stores [kiosks],” a spokesman told eNCA news. His company said beer sales in South Africa had risen by 8% over the …
Read More »Central African Republic: Bitcoin project faces major difficulty
The Cemac Banking Commission (Cobac), has not accepted the adoption by the Central African authorities of the Bitcoin cryptocurrency as one of the country’s official currencies. Following an extraordinary meeting on May 6, the Cobac banned the use of cryptocurrencies in banking and financial institutions in the countries of the …
Read More »Zimbabwe: suspension of bank loans lifted
Zimbabwe’s central bank has lifted the suspension on bank lending services that was meant to stop the slide of the local currency, the BBC reported. Authorities have gradually walked back from the proposal. Inflation has surged to over 96% in the country, as the government blames currency speculators who it …
Read More »Rihanna to launch Fenty beauty products in Africa
American singer Rihanna has announced that her Fenty Beauty and Fenty Skin products will be available in eight African countries from the end of this month. Rihanna said Fenty Beauty and Fenty Skin products will be available in eight African countries, including Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia …
Read More »Zimbabwe suspends bank lending in bid to arrest currency decline
Zimbabwean government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market, Reuters reported. The southern African country reintroduced …
Read More »Ghanaian businessman urges Elon Musk to buy Africa and delete all leaders
Ghanaian businessman, Dr Kofi Amoah has urged the world’s richest man, Elon Musk, to buy up the African continent and remove all its leaders. In a tweet earlier in the week, new boss of Twitter, Musk suggested he was going to buy Coca-Cola next, adding that he’d “put cocaine back” …
Read More »Algeria: authorities threaten to cut gas supply to Spain
Algeria has threatened to cut off its gas supply to Spain if any of it ends up in another country that is not specified in the contract. It said supplying the gas to a third destination would be a breach of contract between Algeria’s state-owned Sonatrach and its Spanish customer. …
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