Lending is a tough nut to crack, and Nigeria’s biggest banks, valued at trillions of naira, know this too well. Only 6.2% of Nigeria’s adult population had access to loans in 2019, a measure of how much banks avoid retail lending. Lending to small businesses is the same story; banks avoid it like a plague. … Read more
Who is Acyn Torabi? Acyn Torabi, a renowned American influencer and social media personality, has garnered significant attention on Twitter with his self-titled account, @acyn, boasting over 334k followers. Since joining the platform in October 2008, Acyn has made approximately 127k tweets, showcasing his political views and engaging with various issues. His Twitter presence has … Read more
Who is Eugenio Pallisco? Eugenio Pallisco is a renowned business leader, entrepreneur, and community advocate in Michigan. With a career spanning over three decades, Pallisco has made a lasting impact on the state’s business landscape and has been a driving force for positive change in his community. Early Life and Education Pallisco was born and … Read more
Alex Sosnowski is a highly respected and experienced meteorologist, known for his accurate weather forecasts and in-depth analysis of weather patterns. With over three decades of experience in the field, Sosnowski has become a household name, particularly in the United States, where he has worked with several prominent weather organizations. Early Life and Education Sosnowski … Read more
Marc J. Gabelli is a renowned American investor, financial analyst, and entrepreneur. He is the Chairman and CEO of Gabelli Group, a leading investment firm that manages over $40 billion in assets. Gabelli is widely recognized for his expertise in value investing and his ability to identify undervalued companies with strong growth potential. Early Life … Read more
Berserk is one of the most popular and influential anime and manga series of all time, with a dedicated fan base. The series is known for its dark and mature themes, and one of the most significant plot twists is Griffith’s betrayal of Guts and the rest of the Band of the Hawk. This event … Read more
One month after obtaining a court order to recover $24 million lost to unauthorised POS transactions, Flutterwave suffered another security breach that allowed unknown persons to divert billions of naira to several bank accounts. The perpetrators illegally transferred ₦11 billion ($7 million) to several accounts in April 2024, one financial services insider with direct knowledge … Read more
Digital lending is notorious for teaching expensive lessons. While every lender will talk up their proprietary algorithms and foolproof loan decision systems, many loan books will show that few have hacked profitable lending. Yet, Credit Direct, a digital lender whose name may not draw a flicker of recognition from most people, reported ₦4bn ($2.6 billion) … Read more
Tanzania’s Central Bank will no longer allow unlicensed digital lenders to operate in the country and has told customers to look out for valid licenses before patronising loan companies. The Bank of Tanzania’s (BoT) new restrictions are believed to be linked to questionable lending practices like debt-shaming of defaulters, and high interest rates. The directive … Read more
Lesaka Technologies, the NASDAQ-listed fintech company with a market capitalisation of R4.5 billion ($242 million), is acquiring payment platform Adumo for R1.59 billion ($85 million) in cash and equity. The deal is scheduled to be completed in the third quarter of 2024 and will extend Lesaka’s payment footprint in the southern African region to five … Read more