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Business

Zimbabwe
Government teams up with Apollo to launch national cryptocurrency

With the Zimbabwe dollar in its death throes, the government is seeking to switch to cryptocurrency. On 19 March it entered into a partnership with the American firm Apollo, which after a number of setbacks is now beginning to find its feet in Africa. Apollo's director for African operations is part of the team of Hong Kong's African Development Funding Group, Apollo's ex-associate in Africa.
LogoSubscribers only Finance, Business 09.04.2020

Africa, France
How BNP Paris is quietly shedding its African liabilities

It's been more than five years since BNP Paribas, in the wake of the $8.9 billion fine imposed in 2014 by the U.S. Department of Justice for doing business with countries under sanctions, gave up its very lucrative oil-backed lending and other high-stakes activities in Africa. But the French banking giant still holds stakes in African banks that give its lawyers nightmares. BNP and the government of Gabon have come up with a complex arrangement to allow BNP to divest from Gabon's BICIG without having to guarantee its liabilities.
LogoSubscribers only Finance, Business 09.04.2020

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