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B2B FinTech BitPesa , which operates a platform offering foreignexchange and cross-border payment services, is restructuring and has announced new funding to support its expansion efforts. BitPesa is a foreignexchange and cross-border payments platform that uses blockchain to settle transactions for corporates based in Africa.
To that end, Howard Yu , LEGO Professor of Management and Innovation and director of IMD’s signature program, Advanced Management Program (AMP), told Karen Webster that a restructuring may be on the horizon. . As reported earlier this month , the Shanghai Stock Exchange delayed Ant Group’s record initial public offering (IPO).
The Shanghai Stock Exchange delayed Ant Group’s attempt at a record record-setting IPO after controlling shareholder Jack Ma’s clash with Chinese regulators. Howard Yu , director of IMD’s signature Advanced Management Program (AMP), told PYMNTS recently that a restructuring could be on the horizon for Ant Group.
Security risk: Ghana is free from terrorist attacks, but its northern neighbor, Burkina Faso, faces attacks from Islamic militants, raising concerns about security threats in northern Ghana. The latest election in December 2024 was peaceful, with the incumbent president calling the opposition candidate to concede defeat.
Foreignexchange giant Travelex is pulling its offer of sale to prospective buyers after none of the buyers could offer an acceptable deal to the company’s banks and lenders, Financial Times (FT) reports. The company said Monday that it has a temporary waiver from around 70 percent of the holders for its senior secured notes.
London-based Finablr , which owns two foreignexchange businesses, found that the overall debt of the company was $1.3 And Shetty’s holding company BRS Ventures, which owns stake in Finablr and NMC, was in conversation with investment bank Houlihan Lokey on options that included debt restructuring.
Security risk: Risk of terrorist attacks, intercommunal and religious tensions, violent crime, petty crime and credit card fraud. Has 26 bilateral investment promotion and protection treaties providing protection for foreign investment within the country. Pros Young population (15-29 years) 23.2%
Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Will Chinese Authorities Force Ant To Restructure? . Reuters quoted central bank Vice Gov.
The political turmoil fuelled a spike in inflation, which hit 11.66% in July amid fast-dwindling foreignexchange reserves. Riel stabilization has been achieved by prudent circulation management and foreignexchange market intervention, usually involving selling US dollars versus the domestic unit on the open market.
President Javier Milei’s currency moves give markets room for planning, but his ambitious economic restructuring faces roadblocks. Security Risk: Social and class tension and unrest. Capital controls and import restrictions due to the lack of confidence in public policies and the low level of foreignexchange reserves.
Some feel it defies logic for them to depend on foreign banks to offer services such as foreignexchange, treasury, cash management, and payment offerings. The bank has secured approvals from the European Central Bank to establish operations in France. A conservative approach to risk management saw the bank post $164.3
BitPesa , an Africa-based FinTech looking to power cross-border transactions and foreignexchange for corporates and consumers across the continent using blockchain, has an expansion plan and has just announced a restructuring to fuel that growth. Start From Scratch.
survey, most banks across APAC increased 2023 tech budgets to boost security, transform data and avoid downtime. Banking colossus MUFG Bank reaped ¥80 billion to its profit and loss statement from a bumper year at its domestic affiliates, including Morgan Stanley securities operations, where combined profits hit ¥381 billion in fiscal 2023.
Egypt Hassan Abdalla: B+ Egypt seems back on track after securing over $50 billion in support from international partners in early 2024. A $3 billion IMF bailout and a deal with bondholders to restructure $13 billion worth of international debt has brought some relief and ignited an economic rebound. compared to 3.1% in August.
Arabi Connect offers online banking solutions, including cash management features, e-commerce, and point-of-sale (POS) solutions for secure and efficient online transactions. The bank restructured its distribution model in 2024 to provide enhanced client service.
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