Wednesday, July 18, 2018

Banks are Exiting the Remittance Business

The global remittance business is $500+ billion strong. However, this broad market belies a less than rosy outlook for the business. Different geographies display...

Kenya Beckons Banks With $3.2 Billion of Road-Building Deals

                          Kenya will award contracts by next month for a $3.2 billion program that envisages almost doubling the paved-road network within five years with help...

The US dollar is exploding at a probably unprecedented rate

Steven Englander Citi global head of G10 foreign exchange Steven Englander blasted out an email on Friday observing that the current rise in the...

Toyota Tsusho to invest billions in Kenya’s energy sector

Toyota Tsusho Corporation said on Sunday it wanted to invest billions of dollars in Kenya’s energy sector after it successfully build the 280-megawatt Olkaria...

U.S. Remains Biggest Arms Exporter But Russia, China Gain

  The U.S. maintained its lead as the top weapon exporter over the past five years even as Russian and Chinese exports increased more quickly,...

BCIMR, A Djibouti Bank, Opens Office in Ethiopia

The Bank represents about 60pc of the market share in Djibouti in teras of loans and deposits Red Sea Trade & Industry Bank (BCIMR) of...

Blocking wire transfers could spark a humanitarian crisis in Somalia

Somali-Americans in Minnesota and across the United States are again facing problems sending money to relatives still living in east Africa. Last month, the bank...

Dahabshiil Co-sponsors Somali investment forum concluded in Nairobi

A major international investment forum aimed at attracting investors to Somalia came to an end in Nairobi Wednesday. The three-day event convened enterpreneurs, investors, sector experts,...

Santander and Deutsche Bank fail US ‘stress tests’

Santander and Deutsche Bank have failed a US "stress test" designed to assess whether lenders can withstand another financial crisis. The review, carried out by...

The Amplified Power of Power Banks

Think back five, 10 years ago. Phones were almost a luxury that few could afford. This of course, has changed. Nowadays, it is almost...

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Safaricom in ‘advanced talks’ to take M-Pesa to Ethiopia

Kenya’s telco giant Safaricom is in “advanced talks” with the Ethiopian government to introduce its popular M-Pesa mobile money service to neighbouring Ethiopia, a market...

Are Somaliland, Puntland ready for war over land?

Somaliland and Puntland’s dispute over land stretching from the Gulf of Aden to the Ethiopian border risks escalating into open war. The self-declared republic of...

Somalia: Federal Government faces stiff criticism at Brussels forum

President Farmajo and EU's Foreign Affairs Chief Federica Magherini are jointly chairing Somali Partnership Forum in Brussels which entered its second and final day,...