Category: Finance
Anthony Kituuka Steps Down as Managing Director of Equity Bank Uganda: Leadership Transition Amidst Growth and Challenges
Anthony Kituuka, Managing Director of Equity Bank Uganda, has announced his resignation effective November 28, 2024. Under his leadership, the bank has seen significant growth, expanding its customer base and financial assets. Despite these achievements, the bank has faced issues with fraud and cybersecurity that have affected its reputation. The Board is ensuring a smooth transition and is in the process of finding a successor.
Understanding the Trump Effect on Bitcoin: Cryptocurrencies Reach New Heights
Bitcoin has reached a record high following Donald Trump's electoral win, spurred by expectations of crypto-friendly policies and a weakened US dollar prompting a search for safe investments. This trend suggests cryptocurrencies might gain momentum during Trump's presidency. The article explores the dynamics influencing these developments and speculates on the future trajectory of digital assets.
Bitcoin Plummets to $56.9-$58.9 Amid Ongoing Market Volatility
Bitcoin witnessed a steep drop on August 4, 2024, falling within the $56.9 to $58.9 range. This substantial decline underscores the persistent volatility in the cryptocurrency market, influenced by regulatory challenges, geopolitical factors, and shifts in investor sentiment. Despite these fluctuations, interest in Bitcoin remains significant as investors keenly observe the market for possible rebounds or further drops.
President Tinubu Outlines Economic Reforms: Fuel Subsidy Removal and Foreign Exchange Overhaul
President Bola Tinubu has announced the removal of fuel subsidies and the abolishment of multiple foreign exchange rates to stimulate Nigeria's economic growth and national development. The policies aim to redirect funding towards public infrastructure, education, healthcare, and job creation. Tinubu also highlighted initiatives to enhance oil production, launch the Compressed Natural Gas Initiative, and invest in the Digital and Creative Enterprises program.
Nigeria Labour Congress Announces Nationwide Strike Over Minimum Wage Dispute
The Nigeria Labour Congress (NLC) has declared a nationwide strike starting June 2, 2024, due to the government's failure to meet their demand for a minimum wage of Naira 60,000. NLC President Joe Ajaero announced the strike at a press conference in Abuja, marking a significant escalation in their ongoing demands for higher wages.
OPay Halts New Customer Onboarding to Adhere to Central Bank of Nigeria's Regulations
OPay, a notable fintech player, has paused new customer registrations following a directive from the Central Bank of Nigeria (CBN). This move underscores their dedication to adhering to financial regulations and ensuring the security of user data and funds.
