Africa
Zimbabwe clears debt with IMF but hurdles to financing remain
IMF looks to extend debt deadline for Somalia and Sudan
Failed bank depositors to gain unrestricted access to funds – Sarb
Around 97% of retail depositors will be paid in full, the central bank says, as investigation into mismanaged bank continues
Liberia’s central bank chief resigns amid reports of ‘government pressure’
Local media reports Weeks resisted government pressure to agree to loan financing
KYC regulation impinging on financial inclusion – Sarb
Fintech firms could help under-served customers through a “digital identity”, which will allow banks to identify customers without them having to visit branches in person
National Bank of Angola settles $426 million debt with Namibian counterpart
Failed currency agreement resulted in huge accumulation of debt as a fall in oil prices stifled Angola’s access to US dollars
South African central bank puts cyber security on strategic agenda
Sarb says it has put “base infrastructure” for security incident technology in place
IMF report says Mauritius central bank needs clearer resolution powers
Current framework restricts regulator from acting in a timely manner – IMF staff
Bank of Botswana urges government to reduce reliance on diamonds
Central bank believes demand for commodity is likely to dwindle in the future despite global recovery
Central Bank of Kenya is ‘under attack’ – Njoroge
Kenyan governor says new regulator will threaten independence and mandate of central bank
Reserve Bank of Zimbabwe crypto asset ban overturned by court
Court rules in favour of Golix, Zimbabwe’s largest crypto exchange, after Reserve Bank officials fail to show up at hearing
Bank of Ghana cuts rates as economy stabilises
Central bank lowers interest rates to 17% as inflation moderates to the middle of the target
Ghana’s Addison warns banks on price of not innovating
Emerging fintechs have the power to displace traditional banks, Ghanaian governor says, as new payment system goes live
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
Kenya’s Chase Bank finally acquired
After two years in receivership, Mauritius’s SBM acquired 75% of deposits with the remaining 25% remaining with Chase Bank
BoE to provide ‘tailored’ assistance to African counterparts
UK central bank to share expertise with counterparts in South Africa, Sierra Leone and Ghana, as part of wider initiative to support African economies
Independent investigator appointed in South Africa’s VBS Bank saga
Central bank reveals $74 million shortfall at troubled commercial bank following KPMG’s admission of misconduct
Bank of Uganda launches electronic cheque-clearing system
It aims to make cheque processing faster, cheaper and safer; banks will transfer UV images of cheques to highlight tampering
Mozambique central bank cracks down on AML breaches
A total of $2.6 million in fines is divided among 15 institutions found in breach of legislation; IMF says AML/CFT controls need to be more efficient
Missing $500 million returned to Angolan central bank
Finance ministry attempts to set the record straight over alleged fraud, which used dormant company as a mask for the illegal transfer
Gambia’s central bank seeks greater independence as fiscal dominance ends
Central Bank of The Gambia to work on autonomy and data management under new fund programme
IMF warns Tunisia over inflation, deficit and currency
Central bank may have to hike rates further, IMF executive board says
UK crime agency probes possible fraud against National Bank of Angola
Former Angola central bank governor indicted amid $500 million fraud allegations
Upgraded Moody’s outlook puts Sarb rate cut bank on the menu
Lower inflation and an appreciating rand mean the South African Reserve Bank could cut rates at its meeting next week, but analysts think it might be too soon