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A Decline in Counterfeit Banknotes in Cyprus: What You Need to Know for 2024

by News Editor

February 24, 2025

In a positive turn for financial security in Cyprus, 2024 saw a decrease in counterfeit euro banknotes, with just 571 fake notes removed from circulation. This marks a notable 11% drop compared to the previous year, according to the Central Bank of Cyprus.

The Most Counterfeited Euro Denomination

Among the counterfeit notes, the €50 denomination topped the list, accounting for 36.8% of the total discovered in Cyprus. Although the number of fake notes is relatively small compared to the genuine ones, vigilance in cash transactions remains paramount.

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Global Context

Across the euro area, around 554,000 counterfeit euro banknotes were intercepted in 2024, representing an 18.6% increase from the year before. Notably, €50 and €20 notes made up 79.6% of this total.

The Central Bank of Cyprus provides resources for the public to verify the authenticity of their banknotes, a crucial step in safeguarding transactions.

Microsoft Bets Big On South Africa With $297M AI And Cloud Investment

by THEFUTURE.TEAM

March 7, 2025

Microsoft is doubling down on its commitment to South Africa, pledging an additional 5.4 billion rand ($297 million) by 2027 to expand its cloud and AI infrastructure in the country.

The announcement, made by Vice Chairman Brad Smith in Johannesburg, comes ahead of a key South African investment conference and adds to the 20.4 billion rand Microsoft has already poured into Africa’s most industrialized economy.

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Driving Growth Through AI And Talent

Beyond boosting infrastructure, Microsoft is making a play for South Africa’s digital future. Over the next year, the tech giant will fund certification exams for 50,000 young people, equipping them with in-demand digital skills to fuel economic growth and innovation.

South Africa has struggled with sluggish economic expansion—averaging under 1% growth annually for more than a decade—and is actively courting private-sector investment to accelerate momentum.

Big Tech’s Race For Africa

Microsoft was an early mover in South Africa’s cloud computing race, launching data centers in Johannesburg and Cape Town long before Amazon and Google entered the market. The company is now ramping up capacity with a new facility in Centurion, Gauteng, while also spearheading a $1 billion geothermal-powered data center in Kenya.

President Cyril Ramaphosa welcomed the move, calling Microsoft’s investment a vote of confidence in South Africa’s economic potential. “This company really has an African heart,” he said, underscoring the country’s efforts to position itself as a prime destination for global tech investment.