Banking News

Accion, Quona Capital extend $141million for fintech innovations to Sub Saharan Africa


The fund will follow fintech innovations aimed at enhancing access to financial services

IFC invests $30 million into payment infrastructure across MENA


The investment will allow MSMEs to access card-based payments and develop digital data records.

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

Egypt: EGX, ALEXBANK sign MoU


The MoU will support SMEs growth by facilitating access to capital.

Zimbabwe sets withdrawal limit, charges farmers to use e-money


This is to ease the on-going cash shortage in Zimbabwe.

Kenya's central bank to licence two new banks


This lifts the 2015 moratorium on licensing of new commercial banks.

Botswana: BancABC secures $40m credit facility from OPIC


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

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