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Banking Sector Urged to Enhance Customer Understanding for Credit Growth
The head of a banking lobby emphasizes the importance of banks knowing their customers better to boost private sector credit and improve support services, positioning banks as consultants rather than just financial institutions.
Sequans Completes Exit from Bitcoin Treasury, Sells Remaining 314 BTC
Sequans Communications has fully divested its Bitcoin treasury, selling the last 314 BTC. This move follows the company's strategy shift to focus on its core IoT business and the elimination of its convertible debt.
Crypto Treasury Model Falters as Stock Premiums Decline, Says DWF Report
A new report from DWF Ventures reveals that most digital asset treasury companies are trading below their crypto holdings, signaling a decline in the once-advantageous crypto treasury model.
Fidelity Bank Prevails in Appeal Court Over Rights Violation Case
The Court of Appeal has ruled in favor of Fidelity Bank, overturning a previous judgment that imposed costs against the bank and EFCC for alleged fundamental rights violations in a case involving Michael Kundera.
SoFi Leverages Stablecoins for Blockchain-Based Payment Settlements
SoFi is transitioning its card program to utilize its SoFiUSD stablecoin for blockchain-based settlements, aiming for over $25 billion in annual volume. This move highlights stablecoins as a viable alternative for payment processing without eliminating traditional banking intermediaries.
New York Attorney General Sues Polymarket Over Alleged Illegal Gambling Practices
New York's Attorney General has filed a lawsuit against Polymarket, claiming the prediction market platform is operating an illegal gambling business by offering contracts on sporting events. This follows a similar lawsuit against Kalshi earlier this year.
Local Contractors Challenge Government Over Tax Breaks for Chinese Firms
Local contractors in Kenya are suing the government for failing to disclose tax breaks granted to Chinese firms, claiming these concessions create an unfair competitive advantage that harms local businesses.
Africa Spirits Triumphs in Trademark Battle Over Glen Whisky Brand
Kenya's Africa Spirits Limited has successfully defended its Glen Rock whisky brand against the Scotch Whisky Association, which claimed the branding misled consumers into thinking it was Scottish-made.
New Tax Order: Late Payments Now Linked to Market Rates Starting 2026
Starting October 1, 2026, late tax payments in Nigeria will incur interest linked to market rates, as per a new Federal Government order aimed at promoting timely compliance and reducing public borrowing costs.
IBM Launches Beta Link for 24/7 Tokenized Deposits on Swift Ledger
IBM has introduced a beta link allowing banks to manage tokenized deposit transfers on Swift’s blockchain ledger using existing payment systems, enhancing digital asset operations for financial institutions.
Mauritius Bank Secures $6.5M Debt Recovery from Kenyan Oil Firm
The High Court has ruled in favor of Mauritius Commercial Bank, allowing it to recover a $6.5 million debt from Jade Petroleum Limited after a protracted legal battle linked to Imperial Bank's collapse.
Kenya Re to Assess East Africa's Flood and Earthquake Risks
Kenya Reinsurance Corporation aims to map flood and earthquake risks in East Africa, focusing on Kenya, as extreme weather poses growing challenges for insurers.