African Financial Sector News
African pension funds can play a critical role in the region’s private equity industry mobilizing an estimated US$29 billion and driving economic development according to research conducted by the Commonwealth, the Emerging Markets Private Equity Association (EMPEA), and MFW4A, and kindly supported by The Abraaj Group.
Telecom operator MTN Rwanda has entered a partnership with Rwanda's national payment switch RSwitch, KCB and I&M Bank to help improve access to financial services in Rwanda.
The reserve requirement ratio for commercial banks set up by the Central Bank of Congo (BCC) went from three to zero per cent for short term deposits and from seven to five percent for long term deposits, the governor of the BCC has announced.
Brazil is currently hosting the sixth Brics (Brazil, Russia, India, China and South Africa) heads of state summit.
Credit rating agency Fitch has assigned the sovereign rating of B to Ivory Coast, with a positive outlook.