Banking News

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.

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.

Tanzania: What Tanzania Banks On to Attract Industrial Investment


 | Source: All Africa

The government has explained how it attracts industrial investment including by ensuring peace and security in the country.

Nigeria: Union Bank introduces first bot software for banking services and operations


 | Source: Ecofin Agency

The NSE-listed Union Bank of Nigeria announced last May 22 it will deploy an innovative Robotic Process Automation (RPA) technology for banking operations.

Ghana: President Nana Akufo-Addo supports central bank reforms


 | Source: FinancialAfrik

“We can not afford instability or recklessness in the banking and financial sectors. Because any loss of confidence in the banks can only produce a ripple effect on the stability of the economy as a whole."

Nigeria: Emefiele Warns Banks On Emerging Threats


 | Source: The Guardian; AllAfrica

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has charged banks and other financial institutions to be proactive about the emerging threats posed by financial technology (fintech) to avoid crisis in the sector.

Africa Struggling to Tackle Illicit Capital Flows


 | Source: The East African; AllAfrica

Lack of cooperation and information exchange between countries is limiting Africa's efforts to prevent illicit financial flows, experts have said.

Zimbabwe: Sinosteel to pump $1 bln in electricity and ferrochrome production


 | Source: Ecofin Agency

China’s Sinosteel Corporation agreed to invest $1 billion in Zimbabwe to boost ferrochrome output and build a power plant, Zimbabwean president Emmerson Mnangagwa (photo) disclosed yesterday May 14.

Stock Exchange to Automate Trading Process


 | Source: Nyasa Times; AllAfrica

The Malawi Stock Exchange (MSE) in collaboration with the Reserve Bank of Malawi says will automate its trading processes and replace the manual system currently in use with the modern system to improve the efficiency of trading processes.

Nedbank Unveils Africa's First Digital-Only Branch


 | Source: CajNewsAfrica; AllAfrica

In an industry increasingly revolving around technology, Nedbank has officially launched what is said to be the continent's digital-only branch.

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