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Kudi Capital Management Ltd today announced the launch of Kudimoney.com a fully licensed online lending platform offering unsecured personal loans to consumers in Nigeria.
At kudimoney.com creditworthy borrowers can apply for fixed-rate, no-fee personal loans of up to N1,000,000 over a 6 month period.
Applicants are assessed and receive an immediate credit decision, followed by automated verification steps for final approval.
FXTM Research Analyst Lukman Otunuga comments on Sterling ahead of the UK general election and Trump’s anticipated “phenomenal” tax reforms and the Dollar.
The Brexit-related jitters may return with a vengeance in the coming weeks if complications arise from the European Union government toughening their negotiation positions. Official Brexit talks have yet to commence, but the EU has already dished out fresh demands, focusing on residency rights and even limits on financial services.
Global award-winning forex broker FXTM achieved record growth in Nigeria in 2016, with an impressive 25% increase in actively trading clients.
This rapid growth is down to the launch of several innovative products and services, including FXTM Invest and the broker’s Naira denominated trading accounts, as well as the expansion of FXTM’s local educational program.
FXTM said it is committed to developing products that cater to the needs of local traders. Since November last year, the company has offered its leading Standard and ECN trading accounts in Naira.
The World Bank Group, through its newly launched XL Africa programme, will help 20 selected digital start-ups attract early stage capital between $250 000 and $1.5 million.
XL Africa is a five-month business acceleration initiative designed to support start-ups from Sub-Saharan Africa.
According to the World Bank, the companies will receive mentoring from global and local experts, learn through a tailor-made curriculum, increase their regional visibility, and get access to potential corporate partners and investors.
Stakeholders in the mobile money ecosystem have called for a review of the prevailing mobile money regulatory framework, so that the country can achieve the target growth rate in the system.
They noted that efforts to encourage mobile money and financial inclusion could elude Nigeria if Central Bank of Nigeria (CBN) fails to review its regulatory framework in line with global practice.
Eric Barbier, chief executive officer, TransTo, blamed growth of mobile money in Nigeria and Africa on regulatory issues.
The Central Bank (CBN) threatened on Friday to sanction banks denying Small and Medium Enterprises (SMEs) access to foreign exchange (Forex) from the newly instituted SMEs Forex Window.
The window which opened about two weeks ago is designed to help SMEs import eligible finished and semi-finished items not exceeding $20,000 for an enterprise per quarter.
Western Union has taken a giant step by connecting social media to its services. Western Union has introduced a money transfer bot for Facebook Messenger to allow its US customers to transfer funds to over 200 countries.
According to the Company, the bot will give messenger users access to Western Union’s digital and retail cross-border money transfer platform as well as real-time foreign exchange rates and automated customer support.
MasterCard has unveiled what it is calling the "next generation biometric card," combining chip technology with biometrics to verify the cardholder's identity for in-store purchases.
South Africa is the first market to test the technology, with two separate trials recently concluded with Pick n Pay, a leading supermarket retailer, and Absa Bank, a subsidiary of Barclays Africa, according to a press release.
The new card builds on fingerprint scanning technology used in mobile payments and can be used at EMV terminals worldwide.