08/17/2020
The regulator had lowered the rate from 9% in March in order to cushion the economy from the impact of the coronavirus pandemic, following similar actions by African central banks as the virus spread across the continent.
08/17/2020
The statement reads “Please refer to the announcement dated July 28, 2020 which notified the Nigerian Stock Exchange and the investing public of the Board Meeting of United Bank for Africa Plc.
08/17/2020
He further admonished the general public to be vigilant in order not to fall prey to scammers who are after their hard-earned cash.
08/17/2020
At this stage, it is very difficult to predict how bad it will get or even provide you with a forecast impaired loan ratio for FYE20.
08/17/2020
In Morocco, the EBRD was one of the first financial institutions to develop financial and advisory instruments to mitigate the impact of the COVID-19 pandemic on the economy.
08/17/2020
The bank is expecting up to 85% slump in its earnings for the six months to June.
08/14/2020
Donations comprise Sh215.9 million from voluntary pay cuts by public servants, including President Uhuru Kenyatta and his Cabinet secretaries, as well as another Sh300.9million in contributions from individuals and private firms.
08/14/2020
New rules announced in the Budget speech
08/14/2020
For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.
08/14/2020
The Cooperatives Act 2016, he further recalled, makes provisions for the setting-up of a Co-operative Audit Unit within the Ministry Industrial Development, SMEs and Cooperatives.
08/13/2020
Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services
08/13/2020
The alarming rate of involvement of bank staff in the perpetration of fraud in the banking sector, calls for significant reforms in the engagement, remuneration and disengagement processes of employees and contractual staff of financial institutions.
08/13/2020
The IMF predicts that falling oil prices will halve Nigeria’s export earnings to US$26bn, which traditionally accounts for 90 per cent of the government’s budget.
08/13/2020
Temenos technology will enable Sombank to accelerate digital transformation and offer a unified banking experience to customers in branch and online
08/13/2020
NPP enables a central bank to issue a sovereign, digital currency for national adoption.
08/12/2020
The Bank of Mauritius Act has also been amended to introduce the concept of “digital currency” as the central bank digital currency issued by the Bank of Mauritius.
08/12/2020
Small-sized businesses have been hardest hit by the economic effects and uncertainty of the pandemic, weakening their ability to save and tap loans.
08/12/2020
Banks are now grappling with multiple risks including loan defaults as the disease and measures taken to control it hurts customers’ incomes.
08/12/2020
It is also important to note that the most commonly processed personal information is actually employee data.
08/12/2020
"We are paying the bond from our internal cash flows," John Gachora, NCBA’s chief executive told the Daily Nation, adding that the lender has plenty of liquidity.