News stories that cover the world of business, including stock market updates, financial news, and company news
Capitec Tops List of Most Complained-About Banks in South Africa – Capitec, one of South Africa’s prominent banks, has recently been labeled the most complained-about bank in the country by the Ombudsman for Banking Services (OBS). According to OBS, Capitec experienced a significant surge in customer complaints during 2022, with a notable increase of 11%. … Read more
Stellenbosch – Capitec, South Africa’s second-largest retail bank, has released its annual remuneration report, revealing the significant earnings of its CEO, Gerrie Fourie. According to the report, Fourie earned an impressive R62 million during the 2022/23 financial year, equivalent to R170,109 per day. Although Fourie’s payday was substantial, his earnings represented a 33% decrease from … Read more
EasyJet Reports Reduced Losses and Increased Revenues – easyJet, a British airline based in Luton, has announced a significant reduction in its net losses for the first half of the year, thanks to a surge in demand from holidaymakers and the recovery of the aviation sector following the Covid-19 pandemic. In the six months ending … Read more
Forex Scarcity in Nigeria: Dollar Inflows Drop, Threatening Second Quarter of 2023. The Nigerian economy is grappling with a severe shortage of foreign exchange as dollar inflows have significantly declined in recent months. According to the Central Bank of Nigeria’s quarterly bulletin for the fourth quarter of 2022, this scarcity is primarily attributed to various … Read more
Strong Sales Growth and Higher Income Shoppers Contribute to Walmart’s Success Walmart, the renowned US retail giant, has raised its full-year profit forecast following impressive sales growth in the United States, driven primarily by increased demand for grocery and essential household items. The company’s ability to maintain competitive prices through economies of scale has positioned … Read more
Okey Nwuke, Director of Access Bank Plc, has purchased two million units of the bank’s shares, indicating confidence in its growth. The transaction, valued at over N20 million, took place on May 16, 2023, and was reported on the Nigerian Exchange. Director of Access Bank Shows Confidence by Acquiring Bank’s Shares Okey Nwuke, a Director … Read more
CBN Proposes ATM Loan Disbursement to Boost Credit Access The Central Bank of Nigeria (CBN) has suggested that banks upgrade their ATMs to offer loan services in addition to cash withdrawals. CBN wants the ATM upgrade to be implemented by 2025 to improve credit access. Central Bank of Nigeria Proposes Upgrading ATMs to Provide Loans, … Read more
Former SVB Head Criticised in US Senate Bank Failure Hearing: Former Silicon Valley Bank (SVB) CEO, Gregory Becker, along with former executives from Signature Bank, Scott Shay and Eric Howell, testified before the Senate Banking Committee on Tuesday, drawing outrage from senators over the collapse of their respective banks, questionable risk management practices, and excessive … Read more
In a video that has gone viral on social media, an incident unfolded where a landlord unleashed his dog on a tenant due to an outstanding debt of N45,000. The footage has sparked a range of reactions online, highlighting concerns about the landlord’s behavior and the treatment of tenants. According to eyewitnesses, the altercation began … Read more
The Central Bank of Nigeria (CBN) has launched SabiMoni, a new financial inclusion platform aimed at promoting financial literacy and inclusion in the country. CBN Governor, Godwin Emefiele, announced the launch and expressed the bank’s commitment to achieving a 95% financial inclusion target by 2024. SabiMoni is expected to have a significant impact on increasing … Read more