Business
Moniepoint Secures $110 Million in Funding For Business Boost In Africa
Nigerian Finance Company, Moniepoint which was founded by Tosin Eniolorunda and Felix Ike has $110 Million funds with the Development Partners International’s ADP III left in charge. This investment was introduced by Google Africa Investment Fund and has driven Moniepoint across Africa with good digital and monetary services.
Moniepoint has also reached 800 Million transactions monthly and has now achieved their company in offering support to businesses within Africa as well as funding them for growth. Moniepoint aims to better the financial and entrepreneurship aspect in Africa, which will serve as an aid to them.
The US Dollar and Bitcoin rise again as Trump reportedly wins the presidential election with 279 Electoral College votes against Kamala Harris’s 22. Major investors have now returned and do no longer need to be cautious.
Investors now anticipate Trump’s policies economically, Dollar has now strengthen again and is now against Euro and Pound which were gaining benefits over Dollar being weak. With Trump’s win, crypto and Bitcoin have strongly risen and are set with expectations higher prices and a boost in U.S savings returns.
The Upcoming United State Presidential has caused USD to be weak due to the investors being cautious of the outcome. Meanwhile other countries are gaining strength in their currency and benefitting from this weakness. Euro and GBP keeps rising and gaining against USD.
Gold prices still remain stables despite the recent deadline and the Australian inflation keeps rising. Markets are now watching the political movement to serve as guidance.
Security Expert, Dr. Kingsley Aguoru has advised the Central Bank of Nigerian (CBN) and Economic and Financial Crimes Commission (EFCC) to stop the use of online transactions through Card Pins as it results to a security risk.
He emphasized the risks we can be exposed to, phishing and cyber threats, he states that the use of one-time passwords can serve as an aid in this to better the security.
The expert shares that pins are only safe when in use for ATM and Pos but not online, due to cyber risks. He expressed that information can be leaked from the continuous use of sharing pins online.
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