Market report: Wall Street wobbles, Asia reels

Market report: Wall Street wobbles, Asia reels

LONDON  (Capital Markets in Africa) – Weakness on Wall Street last night has followed through to Asian stock markets overnight. Tech stocks led Wall Street down last night, with the NASDAQ composite index falling by 0.8%, somewhat ahead of the 0.5% dip in the broader S&P 500 index. But the niggles about the course of direction that the Fed will take next year were picked up and amplified on the other side of the world,…

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The End of the Road – Saxo Bank’s 2024 Outrageous Predictions

The End of the Road – Saxo Bank’s 2024 Outrageous Predictions

LONDON (Capital Markets in Africa): Saxo Bank, the leader in online trading and investment, today announced its annual Outrageous Predictions for 2024. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, would send shockwaves across the financial markets.  “The End of the Road” for Complacency Entering 2024, Saxo Bank sees a world at an inflection point, with the familiar road of the last decade coming to an…

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The road ahead for FedNow: collaborative efforts and advanced technologies in the fight against APP fraud

The road ahead for FedNow: collaborative efforts and advanced technologies in the fight against APP fraud

The US Federal Reserve launched the FedNow real-time payment service in July, creating a centralised system it hopes will enable faster cash flow for individuals and businesses in the US. As exciting as the launch of this frictionless new payment rail is, fraudsters will find new ways to exploit merchants and customers. Authorised push payment fraud, already a major problem for services like Zelle, is likely to flourish. Banks will need to be proactive to…

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Small and Medium Businesses can catalyze Nigeria’s growth via digital financial services

Small and Medium Businesses can catalyze Nigeria’s growth via digital financial services

LAGOS (Capital Markets in Africa)With financial services driving 27 percent of GDP growth in Nigeria’s Q2 numbers, small and medium enterprises have been urged to leverage digital financial services in deepening value for improved productivity and business performance even as the nation’s economy continues to confront several head winds. This counsel was shared on the sidelines of the recently held Lagos International Trade Fair with the theme, Navigating Economic Challenges, Forging a Path to Prosperity,…

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9th Edition Connected Banking Summit- West Africa Innovation Excellences Awards 2024

9th Edition Connected Banking Summit- West Africa Innovation Excellences Awards 2024

Accra, Ghana Get ready to mark your calendars as the 9th Edition of the Connected Banking Summit- West Africa is set to take Accra, Ghana on February 21st, 2024. This highly anticipated summit promises two days of unprecedented insights, discussions, and networking opportunities, bringing together global executives, industry experts, and visionary leaders from the BFSI sector. The Connected Banking Summit has garnered a reputation for championing forward-thinking banking models, with a focus on accelerating digital…

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Ethiopia: The Road to Recovery – Nicholas J. Pascal, Partner at Vedder Price

Ethiopia: The Road to Recovery – Nicholas J. Pascal, Partner at Vedder Price

For over a decade in the 2010s, Ethiopia was widely regarded as one of Africa’s most promising economies, averaging economic growth of nearly 10% per year per capita according to data from the World Bank. More recently, Ethiopia has faced multiple shocks that have considerably slowed its economic growth, including civil unrest, the COVID-19 pandemic and adverse climate events. Despite these significant challenges, it appears that Ethiopia is now on the road to recovery with…

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Despite choppy waters in international markets, Africa positions itself for global recovery

Despite choppy waters in international markets, Africa positions itself for global recovery

War, inflation, and ripples from the pandemic have gripped the global economy for the past few years, and Africa has not been immune from these shocks. Global capital markets have dwindled, as higher borrowing costs and lower valuations lead to more frugal investments. But riding out this storm is not just a waiting game: countries that lay the foundations now will be best placed to flourish once the economy bounces back. Africa has been making…

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