African Financial Sector News

Nigeria: CBN Rolls Out Small Medium Credit Scheme to Curb Restiveness in Rivers


 | Source: The Guardian; All Africa

To curb restiveness in the Niger Delta region, the Central Bank of Nigeria (CBN), has organised agricultural and small medium enterprise credit scheme for indigenes.

Ethiopia: InsuResilience to Cope With Aftermath of Natural Disasters


 | Source: The Ethiopian Herald; All Africa

The global climate insurance initiative will help vulnerable and low-income communities to withstand and mitigate the impacts of natural disasters with Ethiopia introducing and implementing similar mechanism years before the initiative came to spotlight, said Ethiopia's Ministry of Environment, Forest and Climate Change.

Kenya: CBA Plans M-Shwari Loan Rate Cut to Fend Off Rivals


 | Source: Daily Nation; All Africa

Safaricom and Commercial Bank of Africa (CBA) will cut the price of M-Shwari loans to defend market share now under attack from resurgent mobile loan firms.

Sudan: Central Bank Directs Banks to Hand Over Expatriate Remittances in the Same Currencies Transferred


 | Source: Sudan News Agency; All Africa

The Central Bank of Sudan (CBOS) has instructed all banks to hand over expatriate remittances in the same currencies as they have been transferred to facilitate the flow of Sudanese remittances abroad and provide them with distinctive banking services.

BMCE Bank of Africa: Non-Moroccan subsidiaries contributed 45% of net result over the first 9 months of the year


 | Source: Ecofin Agency

BMCE Bank of Africa’s non-Moroccan units contributed to 45% of the net result of the group over the first nine months of 2017, a financial statement from the group revealed.

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