Kenya: Banks Turn Tables on Small Lenders

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Kenya: Banks Turn Tables on Small Lenders

[Nation] Microfinanciers are struggling to keep customers as large banks and digital lenders raid their turf through innovative products, leaving them with piling losses and diminishing capital.

Source: allAfrica.com

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Barclays fined £26m for poor treatment of customers in distress

The City watchdog has fined Barclays £26m for historic 'poor treatment' of customers who suffered financial hardship after being offered credit. The Financial Conduct Authority (FCA) pointed to failed customer contact policies between 2014 and 2018 at Barclays Bank UK Plc and its Clydesdale

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Source: NewsDay Zimbabwe - Everyday News for Everyday People

When Keeping Up With The Joneses Threatens To Derail Your Financial Future

Anything worth having is going to require some level of self-control. This is especially true when it comes to accomplishing long-term financial goals, such as purchasing real estate, paying off debt, or reaching a savings milestone.

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Source: MadameNoire

Tough loan guarantee terms for small firms

Only micro, small and medium enterprises with a maximum annual turnover of Sh100 million and 250 employees will qualify for loans guaranteed by the government.

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Source: Business Daily

More coronavirus relief on the way for small businesses - Black News Channel

By JOYCE M. ROSENBERG AP Business Writer NEW YORK (AP) — For Nancy Sinoway, a second coronavirus relief loan would increase the chances that her dressmaking business will survive. 'I could use it for marketing, for new samples. I could use it as a lifeline,' says Sinoway, who designs and makes

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Source: Black News Channel - Black News Channel

Student loan payments suspended through the end of January 2021

The Trump administration on Friday suspended all federal student loan payments through the end of January and kept interest rates... View Article The post Student loan payments suspended through the end of January 2021 appeared first on TheGrio.

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Source: theGrio

COVID-19 Worsens Debt Collector Harassment - Los Angeles Sentinel

As the final days of the 2020 election season drew to a close, major media across the nation focused on polls and prospects for the presidential candidates. At the same time, scant news coverage reported on a development affecting 68 million consumers: debt collection

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Source: Black News Black Press | Los Angeles Sentinel | Los Angeles Sentinel | Black News

Sanlam delays paying parent group Sh2.8bn

Sanlam delays paying parent group Sh2.8bn

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Source: Business Daily

If a Stranger Offers you Student Loan Forgiveness, Hang Up - Voice and Viewpoint

By Anna Helhoski of NerdWallet Student loan scammers have a brand-new hook: 'Biden student loan forgiveness' or 'stimulus forgiveness.' Behind the pitch is the same old fraudster playbook, one that persuades federal student loan borrowers to pay for services they could get for free or to share

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Source: Voice and Viewpoint – Voice and Viewpoint Newspaper

Uganda's Debt Burden As Financial Year Closes

According to International Monetary Fund (IMF), although the debt stock would increase to respond to the emerging financing needs, debt dynamics would remain sustainable and Uganda would remain at low risk of debt distress, with public debt projected to rise above 54 per cent of GDP in FY 2021/22

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Source: allAfrica.com

Robert F. Smith to Donate $50 Million to Support STEM Students at HBCUs Via the Student Freedom Initiative

The Student Freedom Initiative announced today a $50 million personal gift from Robert F. Smith, philanthropist and Founder, Chairman and CEO of Vista Equity Partners. This gift matches the initial…

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Source: GOOD BLACK NEWS

$900 Billion Federal Stimulus: What’s In it, What’s Not, What Remains

$900 Billion Federal Stimulus: What’s In it, What’s Not, What Remains By Charlene Crowell Although a New Year has begun, many American consumers and small businesses continue to feel a financial hangover from the challenges of 2020. As the global pandemic reveals a still-soaring American infection

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Source: Atlanta Tribune

Lawmakers propose sweeping relief to homeowners, renters | Black Voice News

As missed rent payments and delinquent mortgages pile up across the state, California Democratic lawmakers Tuesday introduced a series of sweeping proposals aimed at shielding homeowners, renters and landlords from the economic fallout of the COVID-19

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Source: Black Voice News | The Voice of the Black Community in California

Kenya: Safaricom Share Hits Record High on Addis Permit

[East African] Safaricom shareholders' paper wealth rose by Ksh90.1 billion ($836.8 million) Monday as investors rushed to buy the company's shares after it was awarded a licence to enter Ethiopia's underserved telecoms market.

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Source: allAfrica.com

LETTERS: Digital lending has great potential in economy

While the government has proactively instituted a broad range of measures, it is important to highlight a few recent developments: the decision to revoke the right of digital lenders to report to the credit reference bureaus (CRBs), and the subsequent offering of what may become a constructive path

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Source: Business Daily

Cisco Systems is Donating 0 Million To Aid HBCUs

Cisco Systems, a multinational technology company will give $150 million to the Student Freedom Initiative (SFI) to aid HBCUs

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Source: Black Enterprise - The Premier Resource for Black Entrepreneurs and Career, Tech, and Money Content for Black People - Black Ent

Microfinance outfits take big COVID-19 hit

Many members are in need of liquidity support to remain viable, said Blossom O’Meally-Nelson, chairman of the Jamaica Association for Microfinancing

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Source: Jamaica Gleaner

Can Student Loans Ever Be Part Of A Bankruptcy Filing?

The big question here is whether a student loan can be a part of a bankruptcy

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Source: ThyBlackMan

Break the Cycle: 5 Tips To Debt Free Living

When considering your financial health, debt is something that is unavoidable to address. Debt includes balances on any type of loan you have taken out such as credit cards, mortgages, […] The post Break the Cycle: 5 Tips To Debt-Free Living appeared first on Essence.

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Source: Black Women's Lifestyle Guide, Black Love & Beauty Trends - Essence

This Week’s Senate Calendar: May 17-21, 2021

Here’s what’s on tap at the V.I. Legislature this week.

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Source: St. Croix Source | online all the time since 1999

COVID-19 Worsens Debt Collector Harassment - Voice and Viewpoint

By Charlene Crowell, Senior Fellow with the Center for Responsible Lending Recalling its earlier research on the family wealth lost as a result of the Great Recession, the Center for Responsible Lending (CRL), holds that the effects of families of color losing $1 trillion of wealth, still hinders

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Source: Voice and Viewpoint – Voice and Viewpoint Newspaper

Debt payments forecast to cross Sh1 trillion mark

The ministry forecasts that debt payments will cross the Sh1 trillion mark in President Uhuru Kenyatta's last year in office, underlining the country’s push to restructure some of the arrears to ease pressure on thinning tax receipts amid Covid-19

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Source: Business Daily

COMMENTARY: Political Poppycock | The Orlando Advocate

By Lucius Gantt, THE GANTT REPORT Why are news shows and news networks ranting and raving so much about “progressives”? Why are such a small group of American political activists getting heightened attention after so many political losses and disappointments? Do you remember Nina Turner? Nina

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Source: The Orlando Advocate

Taking Charge of Your Credit Debt | GreenPath Millennial Money | The Michigan Chronicle

By Jordan Woods A recent study has shown a 4% increase in U.S. adults carrying credit card debt. About 23% of existing credit cardholders have added to their current debt due to the pandemic. COVID-19 is directly impacting consumers’ ability to manage credit card debt. Healthy credit usage is

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Source: Michigan Chronicle - Powered by Real Times Media

Opinion | Should Student Debt Be Canceled?

… groups but disproportionately those, like African-Americans, who suffer a wide wealth … being punished. I am an African-American who went into debt to …

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Source: Unpublished Black History

Black Student Loan Debt Should Be An Issue For All Of Us

As conversations around social and racial justice equity with building financial stability remain at the forefront, the plight of African American college students should remain relevant heading toward Election Day.

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Source: NewsOne

Microfinance outfits take big COVID-19 hit

The cash-rich microfinance sector has reportedly been hit hard by the economic fallout from COVID-19. Many members are in need of liquidity support to remain viable, said Blossom O’Meally-Nelson, chairman of the Jamaica Association for...

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Source: Jamaica Gleaner

Biden throws doubt at $50K student loan forgiveness - TheGrio

President Joe Biden pushed back against calls for him to wipe out $50,000 in student loans Tuesday night during his... View Article The post Biden throws doubt at $50K student loan forgiveness appeared first on TheGrio.

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Source: theGrio

M-Shwari shifts loans of below Sh2, 000 to Fuliza

Raising of minimum loan limit from Sh500 set to cut defaults but make borrowing on platform costlier.

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Source: Business Daily

Zim diasporans launch party

BY EVERSON MUSHAVA/MOSES MATENGA A NEW political party formed by Zimbabweans in the diaspora, the Patriotic Zimbabweans (PZ), has proposed a financing strategy to revive the country’s deteriorating road, rail, aviation and health and sanitation infrastructure. The party has developed, as part of

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Source: NewsDay Zimbabwe - Everyday News for Everyday People

KCB half year profit down 40pc on corona defaults

KCB did not declare an interim dividend, which has previously stood at Sh1 per share, with the move saving it Sh3.2 billion.

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Source: Business Daily

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