Banking News

Uganda: new report cautions banks on agent banking


 | Source: The Monitor; All Africa

The study also shows that almost 80 per cent of the potential market is in rural areas and as such costs will play a great role in determining the success of this model.

Mozambique: Apex bank increases capital requirements for banks


The Bank of Mozambique has increased the shared capital required for commercial banks from 70 million meticais (about US $1.05 million) to 1.7 billion meticais ($25.6 million dollars).

Ghana: FMO, BIO arrange $54 million credit for SMEs


The syndicated facility will increase access to finance for local SMEs

Afreximbank secures $450m credit facility from AfDB


The $450million credit facility includes a 3-year $150 million unfunded risk participation agreement or guarantees and a 4-year $300 million for trade finance.

European Investment Bank (EIB) has signed two long-term credit facilities with Equity Holdings Group and Housing Finance


This is to support the growth of small and medium enterprises (SMEs) in Tanzania, DRC, Uganda and Kenya.

IFC invests $30 million into payment infrastructure across MENA


The investment will allow MSMEs to access card-based payments and develop digital data records.

Malawi: Two smallest banks merge


The merger is to enable the banks to meet the capital requirements of Malawi's apex bank.

Tanzania cuts commercial banks' reserve ratio to 8pct


The monetary decision is aimed at reducing borrowing costs and spurring economic growth.

ITFC, ABI support private sector and SMEs in West Africa with €40 million


This is to support private sector and small and medium-sized enterprises in West Africa.

Pan-African lender to use app to retain relevancy of traditional bank accounts


The Pan-African lender has persuaded regulators in 25 of the 33 African markets where it holds a banking licence to allow citizens to quickly and easily open bank accounts via their mobile phones

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