Access to Finance News

Nigeria's Unbanked Population Stands At 37% - Central Bank


 | Source: Premium Times; AllAfrica

Barely two years to the 2020 target to reduce unbanked Nigerians to 20 per cent, the Central Bank of Nigeria (CBN) says the country's unbanked population currently stands at 37 per cent.

Ghana: Mobile Money Accounts grew by 21.34% in 2017


 | Source: Ecofin Agency

In Ghana, the number of mobile savings accounts reached 23.9 million in 2017, reflecting an increase by 21.34% compared to the 19.7 million recorded the previous year. This was indicated by Bank of Ghana in its Payments Systems Oversight-Annual Report 2017.

Uganda: Islamic Banking Starts in October, Says Finance


 | Source: The Monitor; All Africa

The Ministry of Finance has said the framework for the implementation of Islamic banking in the country has been developed and will be operational in October.

African Trade Insurance to double portfolio to $7bln, by 2022


 | Source: Ecofin Agency

The African Trade Insurance (ATI) agency plans to raise its trade and investment portfolio from $3.5 million (expected at the end of 2018) to $7 billion by 2022. According to Reuters which reported the news June 12, quoting an agency manager, this increase will be driven by financial commitments from about twenty new members.

West Africa: COFINA records 16 billion CFA francs in subscriptions at the close of its first securitisation operation


 | Source: 35° Nord; All Africa

COFINA, Africa’s leading institution for mesofinance, has raised more than 16 billion CFA francs, an oversubscription of 60% reflecting strong investor interest.

Côte d’Ivoire: Coris Bank to grant SMEs $17.9M at 9% annual prime rate


 | Source: Ecofin Agency

The Ivorian subsidiary of Coris Bank International approved a new credit line worth CFA10 billion ($17.9 million) to local SMEs. The document was recently signed between the company and the ministry of trade, craft, and SMEs’ promotion.

Licence Granted for Zimbabwe Women Microfinance Bank


 | Source: AllAfrica

The Reserve Bank of Zimbabwe has authorized the operation of the Zimbabwe Women Microfinance Bank Limited under the Ministry of Women's Affairs, Gender and Community Development.


Nigeria's SMEs Set for Rapid Internet Adoption


Nigeria is buzzing with largest internet-using population in Africa based on stats by Nigerian Communications Commission (NCC). There are now more than 98.3 million internet users in Nigeria & these internet users not only like to surf the web but also getting inclined towards buying online.


Kenya: NSE Launches Mobile App for Real-Time Monitoring


 | Source: AllAfrica; DailyNation

Nairobi Securities Exchange (NSE) will Tuesday launch a mobile app, opening a window for investors to monitor the bourse real-time.


Kenya: Electronic Registry to Verify Loan Seekers' Assets


 | Source: The EastAfrican; All Africa

Kenya has created an electronic registry for movable collateral that will help lenders search for credit information on both loan seekers and proposed assets to act as security.

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