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Standard Chartered Picks 10 Startups for Women in Tech Programme

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Cellulant Partners with Five Water Utility Companies in Zambia

Gilbert Lungu, Cellulant Zambia Country Manager. Image sourced from Africa Business Communities. Cellulant Zambia announced a digital payment partnership with five leading Zambian water utility companies; Nkana Water, Kafubu Water, Mulonga Water, Chambeshi Water, and Western Water. This partnership will allow customers in the country to pay their water bills with their preferred mobile money and selected bank accounts (Standard Chartered Bank, Zambia National Building Society, and Natsave). In remote areas, customers travel long distances to pay for their water bills. With the partnership, customers will be able to pay for their water bills through Tingg. Since first partnering with Mulonga and Nkana Water 3 years ago, all the water utilities in Northern Zambia have jumped on board and exp...

Cellulant Partners with Five Water Utility Companies in Zambia

Gilbert Lungu, Cellulant Zambia Country Manager. Image sourced from Africa Business Communities. Cellulant Zambia announced a digital payment partnership with five leading Zambian water utility companies; Nkana Water, Kafubu Water, Mulonga Water, Chambeshi Water, and Western Water. This partnership will allow customers in the country to pay their water bills with their preferred mobile money and selected bank accounts (Standard Chartered Bank, Zambia National Building Society, and Natsave). In remote areas, customers travel long distances to pay for their water bills. With the partnership, customers will be able to pay for their water bills through Tingg. Since first partnering with Mulonga and Nkana Water 3 years ago, all the water utilities in Northern Zambia have jumped on board and exp...

Seplat issues $650 million oil and gas bond

Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026. It is said to be the largest ever Nigerian oil and gas bond issuance. A senior note is a type of bond that must be repaid before most other debts in the event that the issuer declares bankruptcy. It is more secure than other bonds. The dual listed company said the five-year bond was well-received in the market with orders from high quality institutional investors. “The notes priced at a yield of 7.75%, representing a significant pricing reduction from its $350 million debut issuance in 2018, which priced at a yield of 9.50% , with a coupon of 9.25%,” a statement by the company read. “The offering was well oversubscribed with deman...

Major banks moved vast sums of illicit money – investigation

Massive sums of allegedly dirty money have flowed for years through some of the world’s largest banking institutions, said an international journalism investigation published Sunday, which denounced shortcomings in sector regulations. “Profits from deadly drug wars, fortunes embezzled from developing countries, and hard-earned savings stolen in a Ponzi scheme were all allowed to flow into and out of these financial institutions, despite warnings from the banks’ own employees,” according to the probe from Buzzfeed News and the International Consortium of Investigative Journalists (ICIJ). The investigation, which was led by 108 international media outlets from 88 different countries, is based on thousands of suspicious activity reports (SARs) submitted to the US Treasury Department’s financi...