Access to Finance News

Kenya sells bond over mobile phones


The bond can be bought via mobile phones and offers a higher interest rate than offered by commercial banks.

Malawi: Two smallest banks merge


The merger is to enable the banks to meet the capital requirements of Malawi's apex bank.

Tanzania cuts commercial banks' reserve ratio to 8pct


The monetary decision is aimed at reducing borrowing costs and spurring economic growth.

ITFC, ABI support private sector and SMEs in West Africa with €40 million


This is to support private sector and small and medium-sized enterprises in West Africa.

Pan-African lender to use app to retain relevancy of traditional bank accounts


The Pan-African lender has persuaded regulators in 25 of the 33 African markets where it holds a banking licence to allow citizens to quickly and easily open bank accounts via their mobile phones

BCEAO blocks Orange Money transfers to France


The operator no longer has the right to exercise foreign transfers.

Botswana: BancABC secures $40m credit facility from OPIC


The facility is aimed at expanding digital financial services and increasing funding for SMEs.

Nigeria: Bank introduces free banking services for start-ups


The initiative is designed to offer free banking services for businesses in the first three years of their registration and incorporation.

Rwanda: Bank of Kigali launches interest-free credit initiative


Through the initiative, businesses can obtain interest-free credit up to Rwf60 million.

Tanzania: Apex bank cuts discount rate to 12 percent


The is aimed at stimulating lending and the economic growth of the country.

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