Africa
Bank of Mauritius extends Covid-19 support measures
Central bank extends loan support programme and increases foreign exchange funding
Malawi’s new president dismisses governor
Former World Bank official will take over central bank as country faces uncertain outlook
Angola to issue its first polymer banknotes
Governor says new banknote series will improve security and durability, and cut costs
World Bank strengthens presence in Africa
Second vice-president appointed to region to help “align resources with priorities”
Zimbabwe increases interest rates as inflation soars
Central bank raises interest rates to 35%
Mobile payments banned in Zimbabwe
Central bank suspends mobile payment platforms following government circular
Kenya’s central bank extends mobile payment exemptions
Crisis measures led to major increase in use of mobile payments systems, central bank says
Namibia’s central bank cuts rates to record low
Central bank acts to preserve link to South African currency as it reintroduces lockdown measures
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of portfolio managers
Sarb introduces collateral substitution for repos
New framework designed to give banks more flexibility in managing collateral
Mauritian central bank to use $2 billion of reserves to fund firms
Central bank will also issue debt instruments to give government $1.5 billion in new funding
Nigeria slashes rates by 100bp
Central bank thinks stimulus package can still prevent the economy from entering recession
Sarb carries out fourth consecutive rate cut
Sarb says banks can apply for looser prudential requirements on “case-by-case” basis
Bank of Mauritius pushed to tap reserves for business lending
Mauritius’ prime minister thinks the central bank should fund businesses direct from its reserves
Morocco’s central bank prohibits bank dividend payments
Central bank tells financial institutions to ensure they are able to keep funding businesses in need
Private sector banker appointed Bank of Namibia chief
President acknowledges long-standing deputy might have felt “passed over” for role
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
New fintech innovation hub goes live in South Africa
Hub will accommodate regulatory advice unit as well as sandbox and accelerator facilities
World Bank says sub-Saharan Africa destined for first recession in 25 years
Growth could fall as low as -5.1% as largest economies struggle with Covid-19 repercussions
Amplifying the soundwaves: the evolution of social media communications
Central bank social media usage is on the rise, with choice of platform is shifting towards the visual
Sarb consults on Covid-19 regulatory easing
Central bank mulls lowering Pillar 2A capital requirements
Sarb to buy government bonds
South African central bank also broadens refinancing operations to boost liquidity
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, book offers countries advice in making sea change in economic statuses