African Financial Sector News

Zimbabwe seeks $11 billion to modernize mining sector


 | Source: Ecofin Agency

Batirai Manhando, Zimbabwean head of Chamber of mines, announced last May 18, that the country needs $11 billion to upgrade mines and boost production to optimal level over the next five years. This was during an annual meeting of the association, Reuters reports.

Kenya: NSE to Pilot Derivatives Market in Six Months


 | Source: CapitalFM; AllAfrica

The Nairobi Securities Exchange has received approval from the Capital Markets Authority to have a pilot of the derivatives market in the next six months.

Mobile Drives Financial Inclusion In Africa, Growing 20% In Past Six Years


 | Source: Forbes

Driven by mobile, there have been $300-million in monthly transactions in Africa from 7.2-million new people using digital financial services and 45,000 new banking agents due to a financial inclusion project.

Kenya: KCB Issued Sh8 Billion in Mobile Loans to 13 Million Customers From Jan-March


 | Source: CapitalFM; All Africa

KCB Group issued Sh8 billion in mobile loans in the first quarter of 2018.

Africa Struggling to Tackle Illicit Capital Flows


 | Source: The East African; AllAfrica

Lack of cooperation and information exchange between countries is limiting Africa's efforts to prevent illicit financial flows, experts have said.

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