The World Bank has suspended funding for humanitarian and development projects in Democratic Republic of Congo worth more than 1 billion U.S. dollars after the government dissolved the project fund without warning, the lender said. The suspension will affect more than 600,000 beneficiaries, including victims of sexual violence, the World Bank told DR Congo's finance … Continue reading World Bank suspends $1bn worth of project funding in DR Congo
Tag: finance
Banks and Credit Unions Must Improve Use of Mobile Apps for Selling
Photo by Alena Darmel on Pexels.com One of the best ways to sell financial products and services digitally is on the mobile banking app itself. With consumers accessing their mobile banking multiple times each week (or day), this platform provides unparalleled capabilities to engage and drive sales activity. Financial institutions use mobile banking apps for … Continue reading Banks and Credit Unions Must Improve Use of Mobile Apps for Selling
Factors that Influence a Company’s Decision to Invest
Let’s look at why and how companies choose to invest in foreign markets. Simply purchasing goods and services or deciding to invest in a local market depends on a business’s needs and overall strategy. Direct investment in a country occurs when a company chooses to set up facilities to produce or market their products; or … Continue reading Factors that Influence a Company’s Decision to Invest
BANK SCAMS: How to spot it and protect your finances
Photo by Anna Tarazevich on Pexels.com Bank scams are an unfortunate and infuriating reality of our modern world. The lasting impact they can have is far reaching, with some victims losing everything from their homes to their treasured relationships with friends and family. Despite what many people believe, anyone at any age can be affected. … Continue reading BANK SCAMS: How to spot it and protect your finances
The Power of Chat Can Improve Engagement and Sales Effectiveness
Photo by Pixabay on Pexels.com Financial institutions have been increasingly using chat functionality for customer engagement in recent years, whether on mobile apps, within online banking, or on their website. The research indicates that the extent to which organizations effectively leverage this functionality varies. For instance, the greatest usage of high-level chat communication is evident … Continue reading The Power of Chat Can Improve Engagement and Sales Effectiveness
Is Credit Suisse helping wealthy Americans evade tax?
Photo by Lukas on Pexels.com Credit Suisse continues to help ultra-wealthy Americans evade taxes and had concealed more than $700 million from tax authorities in violation of a 2014 plea agreement, the U.S. Senate Finance Committee said Wednesday. After concluding a two-year investigation into Credit Suisse, the committee said it had uncovered "major violations" of … Continue reading Is Credit Suisse helping wealthy Americans evade tax?
Banking Regulation: Biden administration calls for strict measures
The White House is readying plans to push federal banking regulators to impose new rules on midsize banks after the collapse of Silicon Valley Bank (SVB) earlier this month, The Washington Post reported Wednesday, citing two people familiar with the preparations. The planned recommendations for Democrat President Joe Biden would push for rules to be reinstated for … Continue reading Banking Regulation: Biden administration calls for strict measures
Experts advise Tinubu to devalue the naira as CBN hikes lending rates
Nigeria’s central bank raised its benchmark lending rate by 50 basis points to 18% (NGCBIR=ECI) on Tuesday as monetary authorities continued to tighten policy to rein in inflation which has squeezed consumer purchasing power. The high cost of living was among major concerns for voters during last month’s disputed presidential election that was won by … Continue reading Experts advise Tinubu to devalue the naira as CBN hikes lending rates
Silicon Valley Bank seeking bankruptcy protection as banking turmoil persists
Silicon Valley Bank (SVB) Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators. The move to commence bankruptcy proceedings comes as emergency measures to shore up confidence have … Continue reading Silicon Valley Bank seeking bankruptcy protection as banking turmoil persists
NAIRA SCARCITY: Financial expert offers solution to currency crunch in Nigeria
The headquarters of the Nigerian central bank stands in Abuja, Nigeria, on Wednesday, Oct. 21, 2015. Nigerians have continued to experience scarcity of the naira notes since the January 31 deadline issued by the Central Bank of Nigeria, CBN, on the swap of the currency. The CBN had earlier set a January 31 deadline for … Continue reading NAIRA SCARCITY: Financial expert offers solution to currency crunch in Nigeria
How Nigerians can protect survive inflation and scarce naira challenges
The saying “Cash is King” seems to be losing its validity in Nigeria. In the wake of the recent policy implementations, entrepreneurs need to make changes to accommodate these policies and cushion the effect on their customers and businesses. As of January 31st, 2023, the old currency notes of the N200, N500, and N1000 notes … Continue reading How Nigerians can protect survive inflation and scarce naira challenges
ECB raises rates by 50 basis points, pledges further hike in March
The European Central Bank on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%. In a statement, it pledged to “stay the course in raising interest rates significantly at a steady pace” and, in unusually firm language, said it intended to hike by another 50 basis points … Continue reading ECB raises rates by 50 basis points, pledges further hike in March
Do governmental, technological and organizational factors influence the performance of financial management systems?
Photo by Pixabay on Pexels.com Abstract Purpose The critical issue in financial management is investigating the role of government in an organization's economy. Governmental facilities, loans and long-term financial plans may affect the performance of financial management systems. Financial management systems may be affected by various other factors, such as organizational, technological and governmental factors. … Continue reading Do governmental, technological and organizational factors influence the performance of financial management systems?
Atiku warns CBN against decision to extend deadline for naira swap
The Peoples Democratic Party presidential candidate, Atiku Abubakar, on Wednesday, asked the Central Bank of Nigeria not to grant a further extension after February 10 deadline for naira swap. This, he said, had become imperative to ensure the purpose and objective of initiating the redesigning of the currency are not destroyed. In a statement released … Continue reading Atiku warns CBN against decision to extend deadline for naira swap
What are the key elements of financial planning?
Photo by Vlada Karpovich on Pexels.com Creating a financial plan for your small business can seem challenging and intimidating at first; however, once you educate yourself and understand the different components of a plan and how they fit together, it’s quite simple! Essentially, a financial plan is an overview of your small business’s current finances … Continue reading What are the key elements of financial planning?
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