12/20/2023
CBK faces upward rates pressure in January bond sales
The CBK has split the sale into two tranches, comprising a new three-year bond and the third re-opening of a five-year bond first sold in July.
Regulation,Tax & Compliance
12/20/2023
Tanzania: African Development Bank unveils Trade Finance Transaction Guarantee Facility to Bank of Africa Tanzania Limited
The Bank will provide a guarantee to confirming banks for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by BOAT.
12/20/2023
African Development Bank to withdraw international staff from Ethiopia
An AfDB spokesman did not immediately respond to a request for comment on the staff pull-out.
12/19/2023
A notable rise in CIT revenue
The data is compiled by the NBS from data provided by the Federal Inland Revenue Service
12/18/2023
African Development Bank Approves a U.S.$ 175 Million Facility for United Bank for Africa
The trade finance senior debt will provide UBA with much needed countercyclical dollar liquidity to support SMEs and local corporates involved in export-import related activities in the short to medium term.
12/18/2023
CBK seen cutting rates in 2024 as global peers signal shift
Looser monetary policy in advanced economies is expected to ease pressure on the domestic exchange rate by incentivising capital inflows to emerging and frontier economies like Kenya.
12/15/2023
European Investment Bank Partners Central Bank of Kenya for Climate Finance Initiative
Addressing barriers to green financing and promoting climate resilience in Kenya’s financial systems.
12/15/2023
IMF seeks stronger crypto regulation
Rules are not meant to return us to a pre-crypto world, nor to squash innovation.
12/14/2023
IMF board approves release of $151mln for Tanzania budget support
The IMF said Tanzania’s economic growth was expected to pick up this year, but faced challenges from an unfavourable global economic environment
12/14/2023
Government’s commitment to the implementation of RTI Act unwavering – Oppong Nkrumah
The Minister’s comments come following a comprehensive research initiative commissioned by the Ministry of Information, which focused on activities undertaken to test the flexibility of the law and its enforcement since its passage in 2019.
12/12/2023
CBN cancels large depositors’ fines amid naira scarcity
The apex bank directed all financial institutions regulated by it to accept all cash deposits from the public without any charges going forward
12/12/2023
Central Bank partners with EIB to lift green project financing
Kenya’s banking sector in 2018 channelled Sh27 billion in climate finance against the total loan book of Sh2.49 trillion, highlighting the sector’s risk averseness towards green projects.
12/11/2023
The proposed National Minimum Wage hike for 2024
In South Africa, the latest consumer price inflation, as published by Statistics South Africa, was 5.9% in October 2023, up from 5.4% in September 2023.
12/11/2023
The one thing that could hold the SARB back from cutting interest rates in South Africa
The National Treasury increased its borrowing to around R14 billion per week starting in August.
12/08/2023
Kamau Thugge: CBK Governor on why the shilling has depreciated more than was necessary
This saw the rate hit the highest point in 11 years as Kamau Thugge, the governor, moved to curb inflation and stop the free fall of the shilling.
12/07/2023
Development bank head at COP28 urges African exemption from EU carbon tax
African countries should be exempt from a plan by the European Union to impose a carbon tax on some imports, the head of the African
12/07/2023
Banks to disconnect non-deposit financial institutions from transfer list
Only MMOs can hold customer funds, according to the CBN.
12/06/2023
Africa Finance Corporation, African Development Bank Sign $350 million long-term Line of Credit for infrastructure
The collaboration is a significant milestone in a long-standing relationship, between the two institutions.
12/06/2023
Kenyan companies cut jobs for the third straight month
Inflationary pressures and cashflow difficulties saw customer spending declining
12/06/2023
Devaluation: External reserves fall $1.65bn in six months
In July, the bank noted that accretion to external reserves remained weak while foreign exchange demand pressures persisted.