‘Fintechs need clarity on regulation to increase contributions to economy’ | The Guardian Nigeria News

•Groups partner to bring regulators, operators together

To create harmonious relationships in the financial technology space, there is a need for clarity of regulations from the regulators to the players in the sector, especially Fintechs.

Clarity of regulations, according to experts in the space, would not only ensure stability, bridge knowledge gaps, but also help avoid unnecessary frictions among stakeholders.

These were the views of experts, who spoke to journalists in Lagos, ahead of their planned efforts to bring financial regulators closer to operators in the Fintech space in Nigeria.

Besides, these experts also highlighted the importance of financial and

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Pantami lists conditions for robust digital economy, says ICT generated N1tr in two years | The Guardian Nigeria News

Minister of Communications and Digital Economy, Dr Isa Pantami PHOTO: Twitter

• 42m enrolments for NIN recorded

Minister of Communications and Digital Economy, Dr. Isa Ali Pantami, yesterday, hinted that a robust digital identity programme is critical to secure and sustainable digital economy. He disclosed this at the commissioning of the 12th batch of Digital Economy Projects across the country.

The event, which took place in eight centres across the country, were carried out at Emergency Communications Centre (ECC), Makurdi, Benue State; Virtual Examination Centre, College of Education, Argungu, Kebbi State; E-Accessibility Centre, Alderstown Schools for the Deaf, Warri, Delta

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UK economy grows 4.8% in second quarter

UK economic growth updates

Britain’s economy surged forward in the second quarter, growing 4.8 per cent as consumers eagerly spent money following the easing of coronavirus restrictions and the progress of the country’s vaccination programme.

The rapid quarter-on-quarter growth rate allowed the economy to recover much of the ground lost over the past two years. Still, it produced 4.4 per cent fewer goods and services between April and June than in the final quarter of 2019.

The growth rate was in line with

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Zambia: Economy Dominates Zambia’s General Election

A new president and parliament is being elected in Zambia under difficult circumstances. The economy is crumbling and human rights are being violated in a former model democracy in Africa.

Heavily armed soldiers are on patrol in Lusaka, the capital of Zambia. Their deployment came as tensions and violence between the political camps increased in the runup to the August 12 parliamentary and presidential elections.

Supporters of the government and the opposition — armed with machetes, axes, knives and slingshots — have repeatedly clashed in various parts of the country since campaigning began in May.

After two people — supporters

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How Bitcoin Can Revitalize the Economy

Like the other cryptocurrencies, Bitcoin’s legal status is unclear. What’s more, Bitcoin’s role in most national economies and regional markets is still under investigation. On the other hand, some countries are implementing restrictions preventing people from engaging in crypto businesses. In some countries, the government has banned Bitcoin completely. That means the crypto sector is in a regulatory limbo state.

However, some experts argue that Bitcoin and other virtual currencies can revitalize the economies of some countries. That’s why in countries like India, people are fighting cryptocurrency bans. Essentially, many people believe that Bitcoin could spark significant economic growth in

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Cameroon bets on local manufacturing to boost economy

She thought it was a “crazy gamble” at the time, but four years on, Gaelle Laura Zambou Kenfack has never looked back since creating a firm to produce and sell “Made in Cameroon” items.

Zambou returned to Cameroon at the end of 2016 after 10 years working as a consultant for BMW in Germany, the one-time colonial power in the central African country of some 25 million people, highly dependent on imports.

Other business leaders like her are betting on the “Made in Cameroon” (MIC) mark — a concept formally launched by the private sector five years ago to promote

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UK economy rebounds in second quarter as lockdown eases | The Guardian Nigeria News

Britain’s Chancellor of the Exchequer Rishi Sunak speaks with previously furloughed staff at the London Wonderground comedy and music festival venue in London, on August 5, 2021. (Photo by PETER NICHOLLS / POOL / AFP)

Britain’s economy rebounded 4.8 percent in the second quarter as the government began relaxing lockdown restrictions, official data showed Thursday.

The strong growth recovery was fuelled by consumer spending, while the government continued to provide massive financial support by for example paying the bulk of private-sector wages.

But the rebound faces challenges as a jobs protection programme is set to end in September and global

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Creating a transparent digital economy and rebuilding trust

  • The digital economy in the US is expanding four times faster than the overall economy.
  • Yet consumers remain concerned about the way data is collected and how it’s used to influence behaviour.
  • Companies and regulators must strengthen data privacy and enhance transparency to build trust and protect the benefits of digital innovation.

The benefits of digitization are growing. Even before COVID-19 struck, digital goods and services were expanding four times faster than the overall economy in the US. Then video conferencing, online shopping, telemedicine and the like, enabled tens of millions of people around the world to adapt after the

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Fintech is booming, despite a weak economy. Can that last?

THE BUZZ about fintech in Lagos, the commercial capital of Nigeria, is so loud that even those without access to the internet cannot miss it. Flashing billboards advertising Kuda, a digital bank, loom over traffic jams, and signs for Paga, a mobile-payments company, adorn thousands of corner shops. Investment has been flowing in, too. In March Flutterwave, a digital-payments firm, raised $170m, making it Africa’s latest unicorn (ie, a startup valued at more than $1bn). Interswitch, a payments processor, acquired its horn in 2019 when it sold a 20% stake to Visa, a credit-card company. Last October Stripe, the

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Oil Prices Down Over China’s Economy, Output Rise Concerns

Oil prices were down by more than $1 yesterday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from Organisation of Petroleum Exporting Countries, (OPEC) producers.

Brent crude oil futures skidded $1.12, or 1.5 per cent to $74.29 a barrel while US West Texas Intermediate (WTI) crude futures dropped 97 cents, or 1.3 per cent to $72.98 a barrel after slipping to a session low of $72.87.

“China’s been leading economic recovery in Asia and if the pullback deepens,

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