1. Developed by Africans for Africans: KureCoinHub Set to Launch the First African Cryptobank
KureCoinHub which is identified as the largest cryptocurrency project in Africa is a self-service banking platform built into a decentralized system. The system which is being launched purposely for Africa as an investment solution is said to be based on smart-contracts on the Ethereum blockchain. The cryptobank is believed to help rise the African continent above the poverty line through a unique access point for the mainstream user into the cryptoeconomy. The platform will help solve current payment systems issues, involving a lot of intermediaries and imposed restrictions, especially when it comes to international payments.
Source: Disrupt Africa
2. Kenya’s BitPesa Acquires European Money Transfer Platform
To further increase its growth across the world, BitPesa Kenyan’s bitcoin payment startup has announced its acquisition of TransferZero. TransferZero is a the first fintech company; Spain-based online money transfer platform. As BitPesa is one of the few global companies to have licensing and infrastructure in Africa and Europe, the partnership enables the fast-growing platform to plant deeper roots through UK and European licensing, bank accounts, and integrations.
Source: Disrupt Africa
3. Nigerian Investors on Exploratory Investment Mission at NPA-Liberia
An investment delegation from Nigerian, met with the management of the National Port Authority to discuss possible investment opportunities in Liberia’s port industry. This is because, Liberia is seen as a country with high investment potentials where raw materials can be processed into finished products to generate more revenue as well as enhancing growth and development within the country. The head of delegation, and Chief Executive Officer of R.G. Holding International Limited, Ian Roche, said his team’s visit to Liberia is meant to explore business and investment opportunities that would help create jobs and add value to the operations of the port.
Source: Liberian Observer
4. Britain to Add Naira to List of Accepted Trade Currencies-Nigeria
The Nigerian Naira is said to be added to the list of the “pre-approved currencies” by the Britain Export Finance Agency. The Naira is to be one of the 3 West African currencies that the UK Export Finance has pre-approved and this will enable finance for transactions with business in Nigeria to be denominated with the local currency. Britain voted to leave the European Union in 2016, which has forced London to rethink its trade ties with the rest of the world. It has said it would start preliminary talks with India about an eventual bilateral trade deal.
Source: All Africa
5. Kotoka International Airport’s Terminal 3 to be Ready in April-Ghana
The Aviation Industry have revealed that the new terminal 3 which was expected to be completed in May 2018, will now be completed and ready for operations in April 2018. The new terminal upon its completion will process about 5 million passengers annually; an increase from the 2 million passengers currently being processed. The new terminal is said be much bigger than the existing ones with highly computerized and modern day state of art facilities managing about 1,600 passengers in an hour.
Source: Citi Business News
6. Nigeria to Export 1 Million Barrels of First Oil From Egina in January 2019
With plans of exporting 1million barrels of oil in January, 2019, the Egina project is said to enhance revenue profile of Nigeria and other stakeholders when completed. Investigations over the weekend showed that with its 200,000 barrels per day (bpd) output, the project will yield one million barrels for export within the first two weeks of production. A top official of Total who confirmed the plan, but preferred not to be named said at the current $67.0 per barrel, the one million barrels will amount to $67 million (N20.0 billion), at the exchange rate of N305 per dollar.
Source: News Now (Energy Mix Report)
7. Private Sector Needs to Contribute to Stimulate Economic Growth-Namibia
The private sector within the Namibian economy have been encouraged to contribute to the economic development and growth of the country. According to Kaunapaua Ndilula, the state cannot achieve economic growth on its own and so will need the help of the private sector to pull efforts together and work towards economic growth. Ndilula was a panelist at the Economic Association of Namibia’s (EAN) 2018 Economic Outlook and in a conversation with Namibia’s economy ministers, Calle Schlettwein and Tom Alweendo he suggested that, the government and the private sector should pull resources together, to realise projects that stimulate economic growth by making capital available for small and medium enterprises.