African Financial Sector News
Regional integration is viewed as a "major pillar" for Africa's development.
The African Development Bank (AfDB) approved on December 15th a funding of $500 million (€400 million) to support the launch of the Business Development Bank of Nigeria (DBN).
South Africa needs a more competitive financial sector with a number of new, smaller banks entering the market to help lower costs, according to the International Monetary Fund (IMF).
The National Bank of Ethiopia (NBE) is setting up a Financial Inclusion Council (FIC) in a bid to increase the number of account holders in the country.
GIM-UEMOA, the interbank card switching and clearing service of the West African Economic and Monetary Union (WAEMU), held on December 13th in Dakar the third regional electronic banking forum.