Items filtered by date: Sunday, 10 November 2019

OPay, a provider of payment, ride-hailing, food delivery and loan services, has been given approval by the Central Bank of Nigeria (CBN) to commence international money transfer.

With the approval, OPay will start facilitating remittance B2B, B2P and P2P remittance services into Nigeria. This is coming on the heels of the earlier announced $50 million fundraised from major venture capitalist some months ago.

“The plan is to distort the remittance space and ensure that international money transfer into Nigeria is safer, faster and more affordable” according to Kunle Olamuyiwa, Director, Remittances Services at OPay.

With OPay’s infrastructure in Nigeria, it will be easier and faster for global remittance companies to partner with OPay to help their customers to receive money from their business partners, customers and loved ones directly into their OPay wallet and any bank account or mobile wallet in Nigeria. Also, recipients can cash out their funds from their OPay wallets at any of the over 100,000 OPay mobile money agents in Nigeria.

“We are already working with major global remittance companies around the world and will start facilitating remittances to Nigeria with these partners, ensuring the best fees and exchange rates, speed and security.

“There is a plan to commence a big-bang promo in December with lots of prices for recipients of money transfer who receive their money directly into their OPay wallets. I can only advise everyone who has families around the world to get an OPay Wallet. They will get better value for these funds doing transfers to any bank, paying their bills, buying food and also using our on-demand transport services i.e. Oride, OBus and Otrike. And on top of all, they can channel unused funds to OWealth and earn interest on it daily. It is, indeed, better times for recipients of international money transfers in Nigeria,” he said.

Published in Bank & Finance

German Chancellor Angela Merkel says the fall of the Berlin Wall reminds “us that we have to do our part for freedom and democracy”

German President Frank-Walter Steinmeier urged the United States to be a “mutually respectful partner” and reject nationalism.

It was a clear salvo aimed at US leader Donald Trump as Germany on Saturday marked 30 years since the fall of the Berlin Wall.

Recalling the United States’ key role in helping to bring down the hated Wall separating communist East Germany from the capitalist West, Steinmeier said he still hears the late American president Ronald Reagan’s cry of “tear down this wall” at the iconic Brandenburg Gate.

But in a swipe at Trump’s America First policy and his insistence on building a wall on the southern border with Mexico, Steinmeier voiced a yearning for a return of the transatlantic partner of the past.

“This America as a mutually respectful partner, as a partner for democracy and freedom, against national egoism — that is what I hope for in the future too,” said Steinmeier.

The German president’s sharp words, as he opened festivities at the spot where Reagan once stood, underlined growing tensions between the traditional allies.

Germany has been deeply rattled by Trump’s go-it-alone attitude on issues ranging from Iranian nuclear policy to trade with Europe and climate change.

From Washington, Trump sent a message of congratulations for the commemoration, adding that the US “will continue working with Germany, one of our most treasured allies, to ensure that the flames of freedom burn as a beacon of hope and opportunity for the entire world to see.”

But unlike the optimism at previous commemorations of the epochal event on November 9, 1989 that brought the communist regime crashing down, three decades on, the mood has soured as the Western alliance that helped secure the liberal democracy is riddled with divisions.

Within Germany too, a chasm has opened up with the far-right gaining a strong foothold in the former communist east on the back of its nationalist and anti-immigration message.

For Steinmeier, “a new wall has arisen that cuts through our country — a wall of frustration, a wall of anger and hate”.

“Walls that are invisible but which divide. Walls that stand in the way of our cohesion,” he warned, as he called on Germans to “tear down these walls, at long last.”

Under grey skies earlier Saturday, Steinmeier and presidents of central European countries placed roses in the cracks of a remaining section of the Wall still standing in the north of central Berlin.

At a solemn ceremony in a church standing on the former “death strip” that divided Berlin, Chancellor Angela Merkel, who grew up in East Germany, called on Europe to defend democracy and freedom, warning that such gains must not be taken for granted.

The Berlin Wall reminds “us that we have to do our part for freedom and democracy,” said Merkel.

“The values upon which Europe is founded… they are anything but self-evident. And they must always be lived out and defended anew,” she told guests from across the continent.

On November 9, 1989, East German border guards, overwhelmed by large crowds, threw open the gates to West Berlin, allowing free passage for the first time since the Berlin Wall was built.

The momentous event would end up bringing the communist regime crashing down, leading to German reunification a year later and heralding the collapse of the Soviet Union.

Published in World
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