South African Women Lose Money to Crypto Scammer Who Convinced Them That Botswana Pula Coins Are Bitcoins
A group of South African investors recently confessed to losing money to a brazen scammer after he convinced them to buy and hold nearly worthless physical coins. The coins, which are denominated in the Bostwana pula currency, were initially sold to a group of South African women back in 2019 when bitcoin was only worth $3,500.
However, according to a report, this con only came to light when one member of the group, who is only known as Lizet, attempted to cash out after she lost her job. Lizet explained:
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But Pula deterioration reduced loans by 4.7%
COVID-19 pandemic overwhelms group
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Bank Gaborone has contributed immensely to revenues of its parent company, Capricorn Group increasing gross loans and advances by 2.3% to P4.8 billion during six months ended 31 December 2020.
The group says due to a deterioration of the Botswana Pula, its loans and advances decreased by 4.7% in Namibia Dollar terms with Group, adding that the Entrepo’s book loan grew by 10.6%.
Bank Gaborone, a wholly-owned subsidiary of Capricorn Group, also contributed very significantly towards financial performance of the Group last year, boosting key aspects of the revenues.
Capricorn Group is a diversified holding company operating in Botswana, Namibia and Zambia. The bank’s non-performing loans increased by 15.3% to P291.2 million as compared to P256.6 million posted in 2019; this therefore showing the resilience of the business in boosting group.
Why debt relief in Africa is necessary to recover from COVID-19 11 January 2021 8:36PM UTC | By: Amadou Mahtar Ba
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Amadou Mahtar Ba, a member of the Africa Policy Advisory Board of ONE, is sharing why debt relief is crucial for Africa to recover from COVID-19.
The economic and health costs to Africa as a result of the COVID-19 pandemic are unprecedented by any measure. With the death toll rising above 50,000 and more than 2 million confirmed infections so far, the continent has many reasons to be worried.
So far, COVID-19 lockdowns have triggered the first continent-wide recession in 25 years, costing Africa an estimated US$115 billion in lost output and pushing up to 40 million additional people into extreme poverty, according to the World Bank.
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