African Financial Sector News

Egypt: EFG Hermes considers to invest up to $500 million in renewable energy by 2020

28.12.2017

 | Source: Ecofin Agency

Egyptian investment bank EFG Hermes looks to invest in renewable energy projects totaling 400-500 MW in the 3 upcoming years, in the country.

Kenyan Banks May Turn to Shareholders to Comply With IFRS 9

28.12.2017

 | Source: The EastAfrican; All Africa

Four top Kenyan banks will have to increase their loan loss provisions by Ksh36 billion ($360 million) under the new accounting regulations, which take effect in a week's time.

Tanzania: ATMs Replace Mobile Phone Money Agents

27.12.2017

 | Source: Tanzania Daily News; All Africa

MOBILE money customers can now withdraw cash through Automated Teller Machines (ATMs), thanks to technology advancement. The technology excludes mobile phone money agents and enable customers to make transactions twenty four hours a day, which is a big relief as most money agents open shops late and close earlier.

Nigeria: CBN to Roll Out Five Per Cent Interest Loan for Farmers

26.12.2017

 | Source: The Guardian; All Africa

The Central Bank of Nigeria (CBN) said it would soon release more funds at not more than five per cent interest rate for farmers to acquire agriculture equipment, to enhance their productivity. Governor of the apex bank, Godwin Emefiele, stated this yesterday, during the official commissioning of the MITROS Rice processing factory and formal launch of the rice, in Abeokuta, Ogun State.

Zimbabwe: Zim Central Bank Warns Against Use of Bitcoin

22.12.2017

 | Source: NewZimbabwe.com; All Africa

The Reserve Bank of Zimbabwe (RBZ) on Thursday warned the public against the use of virtual currencies such as Bitcoin because of the risks involved.

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