La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Alexander Forbes sells its insurance subsidiary in Namibia

Alexander Forbes Namibia Holdings (AF Namibia Holdings), 75% owned by the South African financial services group Alexander Forbes, has undertaken to sell all of the shares of its subsidiary Alexander Forbes Insurance Company Namibia (AFI Namibia).
 
Alexander Forbes sells its insurance subsidiary in Namibia

The buyer is Momentum Short Term Insurance Namibia (MSTI Namibia), a short-term insurance company operating in the Namibian market belonging to the South African group Momentum Metropolitan. Listed on the Johannesburg Stock Exchange, it offered a financial compensation of 50 million rand ($ 2.6 million) for the acquisition of AFI Namibia shares.

The transaction is subject to the approval of the Namibian regulatory authorities, the Namibian Competition Commission and the Namibia Financial Institutions Supervisory Authority. It could be finalized in the second half of 2020.




The sale of this unit is part of the group’s strategy to offload its insurance pole. Last February, Momentum Metropolitan finalized the acquisition of Alexander Forbes' short-term insurance business in South Africa.

As part of the new sale, part of the financial resources obtained will be redistributed to the shareholders of Alexander Forbes. The other part will be used to finance the group's liquidity and investment needs.