Bank & Finance

Jan 25, 2018
South Africa’s budget has involved making tough decisions to stabilise the country’s debt and the country will feel some pain as a result, its finance minister said on Wednesday. The…
Jan 23, 2018
Kenya’s central bank governor forecast on Tuesday that the East African nation’s economy would grow by 6.2 per cent in 2018. Patrick Njoroge told reporters in Nairobi that the number…
Jan 22, 2018
Nigeria’s central bank said on Monday a key interest rate setting meeting intended for January 22-23 will not be held due to an inability to form a quorum, adding that…
Jan 20, 2018
Nigeria’s central bank is unlikely to hold an interest rate setting meeting on Jan. 22 as scheduled because several new members of the monetary policy committee (MPC) have yet to…
Jan 18, 2018
South Africa’s Treasury cannot afford to bail out ailing state-run utility Eskom but will take unspecified action soon to tackle the company’s challenges, Finance Minister Malusi Gigaba said on Thursday.…
Jan 13, 2018
An investigation into the South African arm of KPMG is progressing “satisfactorily” while part of it is nearing completion, the boss of the nation’s audit regulator said on Friday. KPMG…
Jan 09, 2018
Tanzania’s central bank last week revoked the licenses of five “critically undercapitalised” community banks to protect financial stability in East Africa’s No. 3 economy. There are about 40 commercial banks…
Dec 15, 2017
The Central Bank of Nigeria (CBN) is working toward the eventual replacement of the ATM PIN code with biometric identification. The announcement was made at a recent Nigeria Electronic Fraud…
Dec 02, 2017
Two U.S. exchanges, including the parent of the venerable Chicago Mercantile Exchange, are racing to embrace bitcoin, dragging federal regulators into a realm skeptics call a fad and fraud. The…
Nov 28, 2017
Zimbabwe President Emmerson Mnangagwa on Monday named Patrick Chinamasa acting finance minister until a new cabinet has been appointed, the chief secretary to the president and cabinet said in a…
Nov 23, 2017
The Reserve Bank of Zimbabwe (RBZ) has warned members of the public against using Bitcoin, saying its use is not legal in the country. The RBZ has been lax towards…
Nov 21, 2017
Developing nations are facing a rising wave of illicit financial flows and money laundering. In South Africa the country’s Reserve Bank is at the forefront of managing the problem. Mills…
Nov 16, 2017
The European Commission proposes amending the blacklist by adding Ethiopia and removing Guyana from the list. It urges all European banks to enhance due diligence on any money coming from…
Nov 13, 2017
Moody's Investors Service (Moody's) has downgraded to B2 from B1 the long-term local currency deposit and issuer ratings of four Nigerian banks -- Access Bank Plc (Access), Guaranty Trust Bank…

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