Banking News

Namibia: Agribank Offers Collateral-Free Loans to Farmers


 | Source: New Era; All Africa

Agribank CEO Sakaria Nghikembua says that looking at the agricultural bank's loan book it is quite clear there is a lot that Agribank needs to do for all farmers in the country, more specifically for farmers in communal areas and specifically the northern communal areas (NCAs).

Senegal: Government urges local banks to further support agriculture sector and SME


 | Source: Ecofin Agency

Senegalese local banks were asked to provide more funding to SMEs and agricultural marketing campaigns.

Nigeria: Financial Inclusion - CBN Sets Fresh Targets for Banks


 | Source: Vanguard; All Africa

Central Bank of Nigeria, CBN, has set state-by-state targets for the 21 commercial banks and 942 micro finance banks in the country to ensure that every Nigerian adult has access to financial services.

Coris Bank, more than 2 000 billion FCFA of investments in Burkina Faso


 | Source: Financial Afrik

The pan-African banking group Coris Bank International (CBI) has injected in its ten years of existence, more than 2 000 billion CFA in the Burkinabe economy according to officials of the institution.

Nigeria: Banks Record Increased Default On Credit Card, Overdraft Loans


 | Source: Vanguard; All Africa

Banks recorded increased default on credit card and overdraft loans to households in the fourth quarter of 2017. The Central Bank of Nigeria (CBN) disclosed this in its Credit Conditions survey report for the fourth quarter of 2017.

Kenya: Central Bank of Kenya Gives Lenders Time to Adopt New Accounting Rule


 | Source: The EastAfrican ; All Africa

Kenyan banks have been spared the aftershocks of new provisions for bad debts that come into effect with the New Year, ensuring riskier small borrowers and households can continue accessing credit.

Ethiopia: Abyssinia Flaunts Fastest Growth in Seven Years


 | Source: Addis Fortune; All Africa

Bank of Abyssinia (BoA) posted the fastest profit growth in seven years owing to the huge improvement in revenues from financial intermediation, making it the third most profitable private bank in the country.

Nigeria: Banks Spend N34.2 Billion On IT, E-Business Infrastructure


 | Source: The Guardian; All Africa

Given the drive to support the Central Bank of Nigeria (CBN) policy on cashless society and leverage on Information Technology, a total of eight deposit money banks have spent N34.2 billion on IT and electronic business infrastructure in nine months ended September 30, 2017, according to Leadership.

Uganda: Centenary Bank Signs Deal With Worldremit


 | Source: The Independent; All Africa

Ugandans living abroad can now send money home to their families and friends through Centenary Bank accounts countrywide following a partnership with the digital money transfer firm, WorldRemit.

Egypt: EFG Hermes considers to invest up to $500 million in renewable energy by 2020


 | Source: Ecofin Agency

Egyptian investment bank EFG Hermes looks to invest in renewable energy projects totaling 400-500 MW in the 3 upcoming years, in the country.

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