Banking News

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.

Nigeria: CBN Floods Forex Market With $457 Million


 | Source: Leadership: All Africa

A statement from the apex bank showed that both the spot and forwards segments of the market received a boost, with $267.3 million while the wholesale segment got $100 million.

Zimbabwe: 'Housing Loans Most Popular'


 | Source: Zimbabwe Independent; All Africa

Employees hold more housing loans and personal loans than car loans with the banking sector getting the majority of the loans, a survey has revealed.

Kenyans to Use Livestock as Security Against Bank Loans


The new law is meant to help bank customers without common and costly forms of collateral such as motor vehicles (logbook) or land (title deed) to access credit.

Tanzania: Bank of Tanzania Revokes FBME Licence


 | Source: Tanzania Daily News: All Africa

The bank was accused of laundering money through its Cyprus branch for a failed Indonesian bank, the Russian Mafia, the Lebanon-based Shi'a Islamist group Hezbollah, al Qaeda and a long list of others.

Tanzania: You Are Yourself to Blame, JPM Tells Commercial Banks


 | Source: Tanzania Daily News; All Africa

Three banks have over 50 per cent of non-performing loan ratio in this year's quarter one as banks loan repayment default rate have soared to record high.

Rwanda: Lender Moves to Boost Mortgage Financing


 | Source: The New Times; All Africa

KCB Bank Rwanda will increase mortgage financing by relaxing the requirements enabling customers and developers to use this financing product.

Liberia: "L$10.9 Billion Circulating Outside Banking System"


 | Source: Daily Observer; All Africa

Out of a total of L$ 12.7 billion circulating in the monetary system in Liberia, over L$ 10.9 billion remain outside the banking system with a significant part of potentially mutilated bank notes.

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