Banking News

Uganda: Central Bank Reduces Cbr to Lowest Level in Six Years


 | Source: The Monitor; All Africa

Bank of Uganda reduced Central Bank Rate (CBR) to 10 per cent, the lowest level it has ever done since the policy was introduced six years ago.

Nigeria: Banks Kick-Start Agric SMEs Equity Fund With N26 Billion


 | Source: Daily Trust; All Africa

Commercial banks in the country have raised a total of N26 billion as part of their commitment to finances agro-based small and medium scale enterprises (SMEs).

Kenya: National Bank Receives Sh3 Billion Loan From NSSF


 | Source: Daily Nation; All Africa

National Bank NBK on Monday received a Sh2.9 billion shareholder loan from the National Social Security Fund amid reports that KCB Group plans to acquire a majority stake in the troubled mid-tier lender.

Nigeria: CBN to Mop Up N1.2 Trillion in 12 Weeks


 | Source: Vanguard; All Africa

The Central Bank of Nigeria (CBN) will, this week, commence plans to mop up N1.23 trillion in the next 12 weeks. The apex bank disclosed this through its third quarterly Treasury Bills Issuance programme released on Friday.

Nigeria: Banking Stocks Surge to New Highs On Economic Recovery Hopes


 | Source: Thisday; All Africa

Banking stocks are leading on the Nigerian Stock Exchange (NSE) according the fact that the Banking Index has appreciated by 39.03 per cent as at Monday, outperforming the NSE benchmark index which only gained 21.2 per cent; in a context of expectation of economic recovery and improvement of macroeconomic fundamentals.

Namibia: Schlettwein Wants SME Bank Closed


 | Source: Namibian; All Africa

Namibian finance minister Calle Schlettwein has rejected a proposal to bail out the desperate SME Bank with up to N$300 million, despite the wish of the central bank governor to recapitalise the bank.

Tanzania: More LGAs Connected to Tanzania Inter-bank Settlement System


 | Source: Tanzania Daily News; All Africa

The linking of payment systems through Tanzania Inter-bank Settlement System had enhanced efficiency in government payment and cut on the costs for bank's services.

Nigeria: 5 Banks Contribute N245.8 Billion to CBN's Real Sector Support Facility


 | Source: Leadership; All Africa

The facility objective is to improve the financing of sectors such as the agricultural value chain, manufacturing, mining, solid minerals activities and other strategic sub-sectors of the Nigerian economy.

Uganda: MP Nsereko Seeks Bill to Cap Interest Rates


 | Source: The Observer; All Africa

Kampala Central MP Muhammad Nsereko wishes a private member's bill to cap interest rates, while David Bahati, the minister of state for Planning, said capping interest rates was not a solution.

Rwanda: Bank of Kigali's Interest-Free Credit Scheme to Benefit Eight Businesses


 | Source: The New Times; All Africa

Bank of Kigali selected 8 businesses out of 350 applications in order to provide them interest-free loans to stimulate their growth.

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