The use of “vintage” carbon credits which may be years old as a way to offset current carbon emissions shows its time for corporate citizens to get real on helping to create a net zero world, experts say.
Francophone Africa, as well as countries such as Mozambique and Angola, remain largely overlooked. Anglophone investors find it hard to establish contacts
Former KGB officer Alexander Lebedev, whose son owns The Independent and The Evening Standard in the UK, has advanced the claim that money laundering has economic benefits.
Trying to avoid buying DRC cobalt makes little sense in purely financial terms. The DRC’s predominant role in global supply means that buyers will need to pay a premium to avoid it entirely. There is no green world without DRC cobalt
Africa urgently needs a new international finance centre, according to a survey of African decision-makers by Rwanda Finance, the agency mandated to develop the KIFC, and Africa Legal
Brazilians were the biggest supporters of crypto-recognition, with 56% supporting El Salvador’s move, and 48% saying they want Brazil to follow suit and adopt Bitcoin. Only 4% of Brazilians said that there is no future for crypto currencies in their country.
China’s crackdown has intensified since Beijing announced plans to introduce its own cryptocurrency. The digital yuan, expected to be launched in 2022, will be fully backed by the central bank. In a bid to stamp out crypto competition, initial coin offers and crypto exchanges have been banned, and restrictions on power usage by miners imposed.
For the challenger banks, winning customers from entrenched incumbents will not be easy. New entrants such as Bank Zero and Discovery Bank have been targeting millennials with mobile banking offers but to date have failed to really take off, Mokgabudi says.
Lack of technocratic expertise, with most educated people having fled, will make it hard to ensure the economy runs well enough to allow the Taliban to cement support in the regions. Billions of dollars of funding have been lost from the International Monetary Fund, the World Bank, the US, and the European Union, and the central bank reserves held in the US have been frozen.
There are 73m active bank users, creating a huge amount of customer data which remains underexploited. Nigeria’s national target is for 95% of the adult population to have access to formal or informal financial services by 2024.
In May 2020 one of Russia’s worst ecological disasters occurred when a fuel tank owned by a subsidiary of Norilsk Nickel ruptured, dumping more than 20,000 tons of diesel oil into the Ambarnaya river in the Russian Arctic.
Bitcoin is highly volatile, and can move sharply in value in response to a short tweet from an influential user. Hanke calls it a “highly speculative asset with a fundamental value of zero.” The bitcoin community, he adds, behaves like a “religious movement” which might hold the price up in the short term.
Attempts by the London Bullion Market Association (LBMA) to get to grips with responsible gold sourcing will founder unless it can get to grips with east African supply chains used to move conflict gold in the Democratic Republic of Congo (DRC) to Dubai.
Despite the unpromising medium-term outlook, Ghana should be able to raise the money provided it can meet the conditions set by Environmental, Social and Governance (ESG) investors, Bohlund says.
The widespread Muslim dissatisfaction with conventional finance means that the potential for growth is real.
#IslamicFinance #ShariahCompliant #IslamicFintech #IslamicRenaissance
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