Banking News

Factoring and Credit Insurance Seen as Key for SME Growth and Regional Integration


Innovative financial solutions like factoring and credit insurance offer keys to the growth of small and medium-sized enterprises (SMEs) in Africa and can enhance regional integration.

Nigeria: Biometrics Will Replace ATM Code Soon - CBN


 | Source: Leadership; All Africa

The Central Bank of Nigeria (CBN) has disclosed that with the Bank Verification Number (BVN) in place, biometrics will soon be used for transactions on the Automated Teller Machine (ATM) instead of the existing pin code.

Ethiopia: How CBE Walks in Promoting Foreign Trade, Investment?


 | Source: The Ethiopian Herald; All Africa

The Commercial Bank of Ethiopia (CBE) has been playing a pivotal role in enhancing foreign trade and flow of domestic and foreign investment in the country apart from providing multifaceted banking services.

Sudan: First Vice President Lauds Savings Bank's Role in Funding Graduates


 | Source: Sudan News Agency; All Africa

First Vice President of the Republic and National Prime Minister Lt. Gen. Bakri Hassan Saleh has praised the role played by the Savings and Social Development Bank in social development and the provision of funding for graduate projects.

Nigeria: Moody's Downgrades Eight Nigerian Banks


 | Source: Daily Trust; All Africa

Moody's Investors Service (Moody's) has downgraded to B2 from B1 the long-term local currency deposit and issuer ratings of four Nigerian banks: Access Bank Plc (Access), Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA) and Zenith Bank Plc (Zenith) and the long-term local and foreign currency issuer ratings of Bank of Industry, a Nigerian development bank in a report released on Friday.

Nigeria: Afreximbank Invests $16bn in Nigeria


 | Source: Vanguard; All Africa

The African Export-Import Bank (Afreximbank) has disbursed over $16 billion to execute various projects in Nigeria.

Ethiopia: Dashen Embarks On Interest-Free Banking Service


 | Source: Addis Fortune; All Africa

Following the finalisation of its headquarters, Dashen Bank is to embark on interest-free banking (IFB) services after getting approval from the National Bank of Ethiopia (NBE) on October 25, 2017.

Rwanda: KCB Bank Unveils Mobile Micro-Credit Facility


 | Source: The New Times; All Africa

It will now be easy for KCB Bank Rwanda customers to access small loans to cater for emergencies or restock thanks to the bank's new mobile credit facility.

Tanzania: Banks Told to Be More Innovative to Survive


 | Source: Tanzania Daily News; All Africa

Financial institutions need to come up with products that are relevant with local realities and banking needs instead of adopting products from abroad which fail in the market, Kilimanjaro Regional Commissioner Ms. Anna Mghwira has said.

Morocco: Bank loans to real estate sector stood at $22.3bn at the end of August


 | Source: Ecofin Agency

Overall loans granted by Moroccan commercial banks to the real estate industry stood at 211.7 billion dirhams at the end August 2017, thus a bit more than $22.37 billion. Year to year, this is up 4% compared to 2016.

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