The Zimbabwean Dollar dropped 40% against the US Dollar in March 2024
Over the years, the value of the Zimbabwean Dollar (ZWL) has been on a massive downward trend compared to the US Dollar (USD). This has led to the latter accounting for most of the domestic transactions in the Southern African country. The ZWL went from 10,152.5 to USD 1 as of January 1, 2024, to 30,674.3 on April 1, 2024. The Reserve Bank of Zimbabwe is introducing a gold-backed digital currency as a legal tender to stabilise its currency.
Men hold the majority share in crypto adoption (61%), indicating that the industry is still male-dominated despite growing female participation.
Over 219M women own crypto globally, showing that female adoption is increasing but still lags behind male ownership.
With 6.8% of the world’s population involved in crypto, adoption is growing, but there is still massive untapped potential, especially among women.
Bridging the gender gap could drive the next wave of crypto adoption, and greater financial inclusion and education could encourage more women to enter the space.
Sterling Bank's origins trace back to 1960 as Nigeria Acceptances Limited, later becoming the first merchant bank in 1969
In 2006, NAL Bank merged with four other banks, forming Sterling Bank as it is known today
Sterling explored several merger opportunities, including with Ecobank in 2008 and FirstRand in 2011, but these plans did not materialise
In 2023, Sterling transitioned into a holding company structure, spinning off its alternative finance arm as a standalone entity, AltBank
The bank began raising fresh capital in 2024, with shareholders approving a ₦200 billion equity capital raise and securing a $50 million private placement as part of its recapitalisation
FirstBank has undergone multiple transformations since its establishment in 1894, adapting to industry shifts and regulatory changes.
The bank transitioned from foreign ownership to local incorporation in 1969, aligning with Nigeria’s indigenisation policy.
Structural and branding changes continued, including its rebranding to First Bank of Nigeria in 1979 and restructuring into a holding company in 2012.
Recent developments include FBN Holdings’ name change to FirstHoldCo and the bank’s planned relocation of its headquarters to Eko Atlantic City in 2025.
