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Access Bank completes acquisition of BancABC Tanzania

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Access Bank Plc, has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” in line with its strategic expansion goals.

This milestone follows the Bank’s initial announcement in July 2023 and marks yet another step in its journey to become the world’s most respected African Bank.

 

In a statement, Access Bank, said: “ With the successful acquisition of BancABC Tanzania by the Bank, BancABC operations will now be merged with the consumer, private, and business banking operations of Standard Chartered Bank Tanzania at completion to form a new, entity to be known as Access Bank Tanzania.

Roosevelt Ogbonna, Access Bank’s Managing Director/Chief Executive Officer, commented on the transaction, saying, “This strategic move represents a notable step towards setting a railroad in Tanzania for intra-African trade within the East African region, Africa and the rest of the world. It underscores our commitment to creating a robust East African banking network, driving positive change and innovation.

“We are excited about the opportunities this acquisition presents for our operations in Tanzania and are eager to leverage our combined strengths to deliver exceptional financial solutions and experiences to our customers.”

Commenting on the transaction, John Imani, Managing Director, African Banking Corporation (Tanzania) Limited, said, “The completion of our transaction with Access Bank, not only underscores Access Bank’s strong confidence in our operations and the Tanzanian market but brings new and exciting opportunities for our customers, employees, and stakeholders. The new entity is poised to enhance our service offerings, leveraging Access Bank’s extensive resources and expertise to deliver even greater value to our clients. We look forward to an exciting and prosperous future as part of the Access Bank family, driving economic growth and financial inclusion across Tanzania.”

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From Ajegunle to Forbes Fashion designer Veekee James has officially joined the prestigious ranks of Forbes Africa 30 Under 30 list.

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Veekee James’ Achievement

Forbes Africa 30 Under 30:  Veekee James, a Nigerian fashion designer, has been listed on the Forbes Africa 30 Under 30 list for 2024

Recognition:  This recognition highlights her innovative designs and contributions to the fashion industry, showcasing African talent globally

Inspiration: Veekee James’ journey from Ajegunle to Forbes serves as an inspiration, chronicled in her short film “From Ajegunle to Forbes”

Career milestones: She has achieved significant milestones, including designing for celebrities and being featured on CNN’s African Voices Changemakers.

Fashion brand: Veekee James founded her fashion brand in 2019, which has gained recognition and accolades, including the AMVCA and Hercomony Awards.

Impact: Her achievement demonstrates the potential and talent of Africa’s youth, making a significant impact in their respective fields

 

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WAR AGAINST ECONOMIC SABOTAGE; NSCDC, TANTITA ARREST 5, DESTROYS 2 WOODEN BOATS WITH ABOUT 250,000 ADULTERATED PETROLEUM PRODUCTS.

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Ondo State Command of the Nigeria Security and Civil Defence Corps (NSCDC) NSCDC Ondo State Command in a joint operation with Tantita Security Services and Nigeria Army has apprehended 5 suspects namely; Orofin Olorunjuwon, Enigbewo Sunday, Ayeyiwa Ilumaro, Owoyemi Ete and Okorisa Noah.

The suspects were arrested on Sunday, 9th June, 2024, at Igbokoda waterways of Ondo State with two large wooden boats filled with about Two Hundred and Fifty Thousand ( 250,000) litres of adulterated petroleum products, Three (3) outboard boat engines and Two (2) pumping machines.

The joint task force set the illegally acquired petroleum product ablaze on the high sea while the suspects and other exhibit are in custody for prosecution.

Commandant Ibiloye assured that the joint operation and routine patrol of the waterways will be a continuous exercise to rid Ondo state of economic saboteurs while the arrested suspects will be prosecuted according to our extant laws to serve as deterrent to other criminal elements.

 

Signed
DSC Femi-Daniels Aidamenbor
State Public Relations Officer
For: State Commandant

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Trump’s big new Bitcoin push alienates his gold-bar-hoarding base

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Former President Donald Trump’s posts on Truth Social—the free speech social media platform he launched two years ago—generally receive a warm reception.

But a late-night missive promoting Bitcoin on Tuesday seems to have alienated his audience.

“VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump wrote shortly before midnight.

“Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left,” he continued. “We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”

Trump then linked to a Bitcoin Magazine op-ed penned by Brian Morgenstern, a former staffer in the the Trump administration and current head of public policy for Riot Platforms, a large Bitcoin mining company.

The article called Trump the “Best choice for Bitcoin.”

The Federal Reserve has been considering using a CBDC, noting on its website that it could provide households and businesses with a “convenient, electronic form of central bank money, with the safety and liquidity that would entail” and support faster payments.

Many conservatives have pushed back on a potential CBDC due to concerns about an expansion of power for the Fed and conspiratorial, apocalyptic fears.

“Anti-CBDC legislation is necessary to safeguard Americans’ financial privacy in the face of potential surveillance, control and political intimidation,” Ryan Walker, executive vice president of the conservative Heritage Foundation’s political arm, told Politico in a statement earlier this year.

Morgenstern’s piece calls Trump’s support of Bitcoin a key effort of “decentralization” which could, outside of legislation, also thwart a CBDC

But on Truth Social, pushing back against CBDC does not go far enough.

While plenty of Trump’s base is Bitcoin-hyping hustlers, a great deal fear any digital currency as a government intrusion.

Many have accused the government of wanting to eliminate cash entirely, to curtail freedom and track individual purchases.

“Gold standard… not Bitcoin,” replied one self-described Christian conservative user.

“CASH IS KING!” replied someone else, posting an image calling for a transition back to a gold-backed currency. “Make money valuable again,” the image’s text overlay reads.

Gold bars have been a long-time fixation on the right, and a number of right-wing influencers promote gold on their podcasts and streams, running counter to the president’s new fondness for Bitcoin.

“Bitcoin is a fantasy, no real wealth, gambling with no odds,” commented someone else.

One Trump supporter offered stronger choice words in response to Trump’s post.

“FUCK bitcoin! It is not US currency, and should never, ever be allowed for monetary exchange,” the user wrote. “I am truly disappointed that you, of all people would support this sham.”

But Trump has embraced cryptocurrency, billing himself as a “crypto president” during a fundraiser in San Francisco last week and rebuking Biden’s approach to cryptocurrency regulation.

“I AM VERY POSITIVE AND OPEN MINDED TO CRYPTOCURRENCY COMPANIES, AND ALL THINGS RELATED TO THIS NEW AND BURGEONING INDUSTRY,” he wrote on Truth Social in late May.

Trump added that the U.S. should be the leader in cryptocurrency but that Biden “WANTS IT TO DIE A SLOW AND PAINFUL DEATH.”

That post came less than one week after his campaign announced it would accept cryptocurrency donations to “build a crypto army moving the campaign to victory on November 5th!”

Trump’s positive stance on cryptocurrency marks a major shift from comments he made while in office.

“Bitcoin, it just seems like a scam,” Trump said in 2021. “I don’t like it because it’s another currency competing against the dollar.”

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