Africa’s youth see a future for Bitcoin beyond speculation

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Africa’s youth see a future for Bitcoin beyond speculation

Staff Writer - August 1, 2019

Paxful is on a mission to increase access to the bitcoin economy for the people of Africa through education CAPE TOWN, South Africa, August 1,...

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The increase in the operating income was more than the rise in operating expenses to Sh1.07 billion from Sh905. 2 million, helping HF to more than double its profit in the period where the sector’s earnings slowed. The performance defied an environment of falling interest rates on loans in line with sustained decline in Central Bank Rate. Returns on government paper have also been falling even as foreign exchange income also softened on the back of reduced volatility on the shillings’ exchange rate. HF booked an 87.6 percent rise in income from securities to Sh595.97 million from Sh317.9 million while income from loans and advances grew to Sh1.18 billion from Sh1.16 billion. Operating expenses were driven by a rise in staff costs to Sh511.22 million from Sh437.21 million, even as the provisioning for loan losses eased to Sh110.43 million from Sh109.1 million. HF’s total deposits rose by 16 percent to Sh50.11 billion from Sh43.75 billion, which the lender attributed to increased market confidence after the recent rights issue. The balance sheet grew by 18 percent to Sh73.4 billion.

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Africa’s youth see a future for Bitcoin beyond speculation

MOST POPULAR

Gen Z tech talent rewires Africa’s fight against hunger

Africa keen on addressing food and nutrition security

Equity Bank earns dual ISO Certifications in Security and Service

Survey of Kenyans shows digital devices and services are improving their...

HOT NEWS

SBM Bank posts Sh12.4mn profit in Q1

HF Q1 profits rise to Kes 327 Mn

eQUB brings Ethiopia’s traditional saving system into the digital age

SIGNIFICANCE OF OPEN DAYS IN REAL ESTATE

EDITOR PICKS

Radisson Hotels launch Long Stays

S&P Global Ratings Confirms ShafDB’s Sustainability Finance Framework Meets International Green...

Airtel Money deepens support for small businesses with Bizna Wallet

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Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

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