06 September 2019
US social media giant Facebook has unveiled plans to launch a new cryptocurrency called Libra.
Set to launch in 2020, Facebook said users would be able to make payments with the currency via its own apps, such as messaging service WhatsApp.
It added that firms such as Uber and Visa were also likely to follow suit and recognise the digital currency as legal tender.Find out more
05 September 2019
Airtel Kenya lost Sh670m (US$6.7m) through its mobile money transfer platform last year, in what has been described as “one of the biggest inside job corporate thefts in recent history”.
The huge losses were revealed in a prospectus of parent firm Airtel Africa, which showed that only Sh86m (US$860,000) of the amount lost was recovered through insurance.
“In 2018, incidents of cash control frauds were identified in the Airtel Money operations in Kenya, which involved circumvention of its controls by Airtel Money employees and resulted in loss of $6.7 million (Sh670 million),” Airtel Africa said.Find out more