African Financial Sector News

Zimbabwe: Sinosteel to pump $1 bln in electricity and ferrochrome production


 | Source: Ecofin Agency

China’s Sinosteel Corporation agreed to invest $1 billion in Zimbabwe to boost ferrochrome output and build a power plant, Zimbabwean president Emmerson Mnangagwa (photo) disclosed yesterday May 14.

Stock Exchange to Automate Trading Process


 | Source: Nyasa Times; AllAfrica

The Malawi Stock Exchange (MSE) in collaboration with the Reserve Bank of Malawi says will automate its trading processes and replace the manual system currently in use with the modern system to improve the efficiency of trading processes.

Nedbank Unveils Africa's First Digital-Only Branch


 | Source: CajNewsAfrica; AllAfrica

In an industry increasingly revolving around technology, Nedbank has officially launched what is said to be the continent's digital-only branch.

Moody’s predicts lower profits of Nigerian banks in 2018


 | Source: Financial Afrik

The US rating agency, Moody’s announces that the profits of Nigerian banks will decline in the current year.

Kenya: Diaspora remittances reach record


 | Source: Financial Afrik

Remittances from the Kenyan diaspora reached a record $ 641.5 million in the first three months of the year, reflecting in part the impact of growth in investment products targeting the diaspora.

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