Ventures Africa
•4 months ago
According to the Central Bank of Nigeria (CBN), the Microfinance Banks (MFBs) sector has been under increasing pressure in recent weeks as the economic downturn caused by the coronavirus pandemic has put financial strain on the sector. This was evidenced by the recent crisis at Patricia Savings and Loans, one of the country's leading MFBs, which saw the company's systems hacked and customers unable to access their funds. Meanwhile, graphics card giant Nvidia has seen a surge in its stock price recently, with the company's shares rallying to a new all-time high amid strong demand for its products from gamers and cryptocurrency miners.
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