Category Archives: Finance

06Oct/22

Banking in 2035: Trust, climate risks and geopolitical rivalry shape a purpose-driven industry, forecasts study

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As disruptive forces roil today’s financial sector, banking execs are scrutinizing the evolving role of banks in the most competitive market they’ve ever faced. What does the future hold? And how can they meet the challenges ahead to forge a brighter future – both for the industry and the greater world? Such is the focus of a new future of banking study, Banking in 2035: three possible futures, by Economist Impact and sponsored by AI and analytics leader SAS. Continue reading

04Oct/22

PwC announces record global revenues of US$50 billion

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PwC firms around the world achieved gross revenues of US$50.3 billion – up 13.4% in local currency and 11.4% in US dollars for the 12 months ending 30 June 2022. Revenue growth was strong throughout the year, following the rebound in the last quarter of FY21 as the impact of the COVID-19 pandemic subsided. Continue reading

03Oct/22

Three reasons a weak pound is bad news for the environment

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Katharina Richter, University of Bristol; Alix Dietzel, University of Bristol, and Alvin Birdi, University of Bristol

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains volatile and far below its value earlier this year.

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26Sep/22

South African teens skip school to chase risky crypto dreams

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  • Young South Africans see crypto as way to quick wealth
  • Poverty, high unemployment pushes them to crypto
  • Users not fully aware of risks, vulnerable to scams

By Kimberly Mutandiro

JOHANNESBURG, Sept 26 (Thomson Reuters Foundation) – John first heard of cryptocurrency three years ago, when the teenager came across slick YouTube videos and Facebook posts of other South Africans claiming to have become wealthy overnight with bitcoin.
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23Sep/22

Rise Start-Up Academy Opens Applications to FinTech Experts

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Rise, created by Barclays – a global community of the world’s top innovators working together to create the future of financial services – has opened applications for the next cohort of the Rise Start-Up Academy. The theme for this cohort is specifically focused on supporting budding founders who find themselves out of their FinTech jobs due to the current economic climate. Continue reading

23Sep/22

‘Africa’s Foremost Crypto Artist’ Osinachi Announces African Creator Accelerator Program on MakersPlace

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Osinachi, the self-taught Nigerian digital artist, establishes his own accelerator program on MakersPlace, the premier marketplace for rare and authentic digital fine art, to onboard African creators and establish an enriched community in the NFT art world. Artists of all levels currently residing in Africa are eligible to be accepted into the program, and if selected, their artwork will be featured in an online exhibit on MakersPlace that will be announced on November 3, timed to coincide with the opening of Art X Lagos. Six accelerator winners, curated by Osinachi, will also be invited to exhibit two additional artworks at the SCOPE art show during Art Week Miami in December. Continue reading

16Sep/22

As ether adopts energy-saving ‘merge’, will bitcoin follow?

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  • No. 2 cryptocurrency to adopt energy-saving protocol
  • ‘The merge’ could cut ethereum’s power use by 99%
  • Move seen piling climate pressure on bitcoin

By Avi Asher-Schapiro

LOS ANGELES, Sept 12 (Thomson Reuters Foundation) – Ethereum, the blockchain underpinning the world’s second-largest crypto token ether, is poised for a software upgrade that will slash the amount of energy it uses – a step that could pile pressure on bitcoin to take similar climate-friendly action. Continue reading →

12Sep/22

Janngo Capital Startup Fund, Africa’s largest gender equal tech VC fund, reaches the first close of its €60 million new fund

Finance,

At the eve of the 77th Session of the UN General Assembly (UNGA), Janngo Capital Startup Fund (JCSF) has announced its first close at EUR34 million (approximately US$36 million) in capital commitments. Launched in Davos in 2020, Janngo Capital’s latest fund will invest 50% of its proceeds in companies founded, co-founded, or benefiting women. Backed by global financial institutions as well as leading private corporations, the fund management company plans to invest EUR60 million (approximately US$63 million) in startups leveraging technology to leapfrog development and achieve SDGs in Africa. Continue reading