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MTN Momo tackles cash shortages, promotes digital payments.

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MTN Momo tackles cash shortages, promotes digital payments.

MTN Momo Addresses Cash Shortages at Agent Outlets

MTN Momo has addressed widespread concerns over cash shortages at agent outlets, assuring the public that it is actively working with stakeholders to reduce these challenges while promoting digital financial services.

Challenges Faced

During the press briefing, MTN Chief Executive Officer, Francis Matseketsa emphasized that the reported difficulties in cash withdrawals at agent locations stem from several factors, including the shortage of higher denomination banknotes, customer resistance to small denominations, and lack of deposits by both customers and agents.

Alternative Solutions

The CEO said MTN maintains its mobile money services offer as viable alternatives to cash transactions. The company clarified that agents were not provided cash by MTN Momo but are expected to generate cash from their business operations, convert it to electronic float, and serve customers.

Promoting Digital Payments

MTN Momo advocated for a national shift toward digital payments to reduce dependency on cash and ease financial transactions, encouraging customers to use MomoPay to pay for goods and services at various outlets that accept mobile money.

Customer Concerns

In the past days, several MTN Momo subscribers complained about the lack of physical cash from the service provider, as they are unable to withdraw money from their mobile money accounts. Despite having sufficient digital balances, customers said they were being turned away by agents who are unable to provide physical cash, fueling widespread anger and questions among customers.

Agent Challenges

An anonymous MTN MoMo agent spoke about the challenges they face daily, explaining that the root of the problem is a shortage of South Sudanese Pounds. The MoMo subscribers argued that the mobile money service has to fasten its efforts to address the challenges in a bid to restore customer trust and confidence.

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Advertisements: A Teen’s Guide

Advertisements are everywhere – on TV, on social media, in magazines, and even on the sides of buses. As a teen, it’s important to understand the power of advertising and how it can influence your choices. Here are some key things to keep in mind when it comes to ads.

What is an Advertisement?

Advertisements are messages that are designed to promote a product or service. They are created by companies to persuade consumers to buy their products. Advertisements can take many forms, including commercials, print ads, billboards, and sponsored posts on social media.

The Power of Persuasion

One of the main goals of advertisements is to persuade consumers to buy a particular product. Advertisers use various techniques to make their products seem appealing, such as using attractive models, catchy slogans, and appealing visuals. It’s important to remember that not everything you see in an ad is necessarily true or accurate.

Understanding Target Audiences

Advertisers often target specific groups of people with their ads. For example, a makeup company may target teenage girls with their ads, while a car company may target middle-aged men. By understanding who the ad is targeting, you can better evaluate its message and whether or not it applies to you.

The Rise of Influencer Marketing

In recent years, influencer marketing has become increasingly popular. Influencers are individuals who have a large following on social media and are paid to promote products to their followers. It’s important to remember that just because an influencer is promoting a product, it doesn’t necessarily mean that it’s the best choice for you.

Tips for Teens

As a teen, it’s essential to be critical of the advertisements you see. Here are some tips to help you navigate the world of advertising:

1. Be skeptical: Don’t believe everything you see in an ad. Remember that the goal of advertising is to sell products, not necessarily to provide accurate information.

2. Do your research: Before making a purchase based on an ad, take the time to research the product and read reviews from other consumers.

3. Consider your values: Think about whether or not a product aligns with your values and beliefs before buying it based on an ad.

4. Talk to adults: If you’re unsure about an ad or a product, don’t be afraid to talk to a trusted adult for advice.

By being aware of the power of advertising and learning to evaluate ads critically, you can make more informed decisions as a consumer. Remember that you have the power to decide what products you buy and how you are influenced by advertisements.

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Finance

South Sudan’s crude oil arrives at Port Sudan

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South Sudan’s crude oil arrives at Port Sudan

South Sudan Crude Oil Reaches Port Sudan for Export

The Ministry of Petroleum has announced that South Sudan’s crude oil export has reached the marine terminal at Port Sudan for the first time and is ready for shipping to the international market. This milestone comes after months of repair work on a ruptured pipeline that had disrupted oil production in the country.

Resumption of Oil Production

In Upper Nile State, oil production has resumed after the pipeline transporting 60 percent of the country’s oil export was repaired. The repair work was necessary due to the damage caused by the ongoing war in Sudan. As a result of the pipeline rupture, Khartoum had declared force majeure in March 2024, leading to economic challenges for South Sudan.

Collaboration with International Companies

Operations at Blocks 3 & 7 have commenced with the help of China National Petroleum Company (CNPC), China Petroleum & Chemical Corporation (SINOPEC), and South Sudan Tri Ocean (SSTO). This collaboration has been crucial in getting the crude oil ready for exportation to the international market.

Confirmation of Arrival at Port Sudan

Mohamed Lino, the Technical Adviser at the Ministry of Petroleum, confirmed the arrival of the crude oil at the terminal. He expressed his gratitude to all those involved in the process and highlighted the significance of this achievement for South Sudan’s oil industry.

Positive Outlook for the Industry

With the resumption of crude oil export, there is hope for the improvement of the industry and the country’s overall economic performance. The successful export of crude oil from South Sudan to Port Sudan marks a significant step forward in overcoming the challenges that have plagued the sector in recent times.

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Barclays exceeds profit expectations in Q1.

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Barclays exceeds profit expectations in Q1.

Barclays Bank Reports Strong Performance Boosted by Investment Bank

British bank Barclays reported a strong performance in the first quarter of the year, with pre-tax profit exceeding analyst expectations at £2.7 billion. Group revenues also surpassed projections, reaching £7.7 billion.

Investment Bank Unit Sees 16% Increase in Income

The income from Barclays’ investment bank unit increased by 16%, contributing to the overall profitability of the bank. The return on tangible equity reached 14% in the first quarter, a significant improvement from the previous quarter.

U.S. Exposure and Market Volatility

Barclays’ significant presence in the U.S. market, especially after acquiring Lehman Brothers, has raised concerns about navigating the market storm caused by global trade tariffs. CEO C.S. Venkatakrishnan acknowledged the potential for high market volatility going forward.

Challenges and Opportunities in the U.S. Consumer Bank Business

Barclays’ U.S. consumer bank business has shown growth, with a 9.1% return on tangible equity in 2024. Despite initial setbacks due to trade war concerns, Barclays shares have rebounded and remain up 10% year-to-date.

Impact of Brexit on Economic Relations

Britain’s impending exit from the European Union could present economic opportunities, especially in trade relations with the U.S. London is seeking to leverage its historical ties with the U.S. to secure favorable trade agreements.

Industry Shifts and Competitor Strategies

Barclays’ competitors, such as HSBC and Banco Santander, are undergoing strategic shifts in their investment operations. HSBC plans to wind down certain businesses, while Santander is restructuring its staff and branch network.

Future Outlook and Uncertainties

Barclays remains cautiously optimistic about the future, acknowledging the potential for economic uncertainties and market fluctuations. The bank is focused on managing risks and supporting clients through volatile times.

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