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Nigeria to establish national micro-finance bank
A national micro-finance bank is to be established to promote access to credit finance for small, medium enterprises (SMEs) and other unbanked groups ...
Banking
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BREAKING: Access Bank finally acquires Diamond Bank
According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN). The a...
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Kenya’s Consolidated Bank says seeking investor to inject 3.5 bln shillings
Kenya’s Consolidated Bank said on Monday it was seeking an investor, either foreign or local, to inject 3.5 billion Kenyan shillings ($34.21 million) ...
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MTN to apply for banking license, offer mobile banking services in 2019
MTN Group will apply for a mobile banking license in Nigeria and launch a service there next year, its CEO said on Tuesday, further embedding the Sout...
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Nigeria’s Wema Bank has already made 17% more than its profit in the whole of last year
Nigeria’s Wema Bank which calls itself the country’s oldest indigenous bank may end the year on a high as it has already surpassed its full year 2017 ...
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GTBank, Zenith & UBA report profit growth in first 9 months of 2018
Three of Nigeria’s largest banks Guaranty Trust Bank (GTBank), Zenith Bank and the United Bank for Africa (UBA) all recorded impressive first nine mon...
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Nigeria’s Senate calls for suspension of illicit bank charges as Senator Ashafa leads motion
The Senate on Wednesday, 17th October 2018 condemned the illicit and excessive deductions charged by banks from their customers. This followed a motio...
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Despite recession, South Africa moves to raise interest rates soon
South Africa’s Reserve Bank will leave interest rates unchanged at 6.50 percent next week, 25 of 26 analysts predicted in a Reuters poll, after recent...
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Nigeria’s central bank boosts Forex market with $543m, CNY 63m
The Central Bank of Nigeria (CBN) has boosted the operations of the inter-bank foreign exchange market with about $543.22 million and CNY63.21 million...
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Africa’s retail banking revenue to hit $53 billion by 2022
Africa’s retail banking revenue has been estimated to grow to US$ 53billion (about N19.08trillion) by 2022. The figure represents 41 per cent of the t...