Global News: Bitcoin Halving event
Nigeria to receive $2.25b from the World Bank
The Bitcoin network on Friday evening completed its fourth “halving,” reducing the rewards earned by miners to 3.125 bitcoins from 6.25. The price of bitcoin has been volatile ahead of the event, and fell about 4% this week to trade around $64,100, according to Coin Metrics
Our thoughts
Financial engineering at its best!
What do you think will happen when scarcity is heightened? Of course price will go up! Thats why analysts expect bitcoin to cross the $100k mark. Wild.
We unpacked this news and more in our weekly Youtube live session. See below
African News: Namibia's Oil
Namibia’s oil potential could one day match Guyana, where big discoveries have sparked an economic transformation and set the world’s biggest companies jostling for position.
There’s a “big chunk of oil” in waters off Namibia, said Patrick Pouyanne, chief executive officer of TotalEnergies SE, which alongside several other companies has made significant discoveries in the African country.
Our thoughts
Our next community business trip is to Namibia most definitely… lets see whats happening there!!!
Oil brings a lot of opportunities and can also cause social issues, but while its still hot, how about we find a thing or 2 to plug into?A corporate eurobond is a good addition to your portfolio. Eurobond investment conversations coming soon.
Nigerian News: Nigeria secures $2.25bn World Bank Loan
Wale Edun, minister of finance and coordinating minister of the economy, says the country has qualified for a World Bank loan of $2.25 billion.
Edun spoke during a press conference held at the annual meetings of the International Monetary Fund (IMF) and World Bank Group on April 20.
The package, he said, was approved by the board of directors of the World Bank, and offers a 40-year term, a 10-year moratorium, and a one percent interest rate.
Our thoughts
The economy is in a dire situation. Whilst the average Nigerian may frown at additional debt, it really is a quick win and a low hanging fruit whilst the country (hopefully) puts in place longer term measures that will stabilize and then grow the economy. The terms of the loan are really good and the Ministry of finance should be applauded for striking such a deal- 40yrs to pay back, 10 yrs moratorium (ie no repayments or interest obligation for the first 10yrs) at 1%.
The news reports that it has been approved, we await confirmation of receipt of funds💁🏻
Whats happening at the Money Wit Club…..
Did you enjoy reading this? Help spread the message by forwarding to at least 10 of your contacts.
Was this email forwarded to you? Subscribe here.
We host weekly money discussions live on our YT channel… visit our channel
Want to advertise with us? Email business@oleroladele.com