Africa
People: PBoC deputy appointed vice-mayor of Beijing
First woman nominated as deputy governor at the Bank of Mexico; Kganyago bags IMF job; Sarb gets new MPC member
Bank of Tanzania must remain ‘vigilant’ during framework transition
Central bank will need to be careful as it transitions to new monetary policy framework, IMF warns, given expected recovery in spending
People: Banque de France deputies named
Sylvie Goulard and Denis Beau take positions at Banque de France; second deputy governor at Bank of Ghana vacates post; Bolivian central bank’s board gets new vice-chair; and more
Egypt’s new banknote facility to be built by G&D
German firm awarded over $300 million for successful tender which will see “majority” of Egypt’s banknotes printed at the plant
Angola drops dollar for euro in new exchange rate regime
Kwanza depreciates 11.5% against the dollar following regime change
Central Bank of Kenya to challenge banknote tender nullification
Central bank to challenge ruling which revokes De La Rue’s tender win following claims of favouritism
Angola looks to abandon currency peg
Crippled by low commodity prices, Angola’s kwanza will be allowed to float within a range, governor says
Botswana chooses polymer for latest banknote launch
African nation partners with UK printer De La Rue for new banknote launch, opting for polymer to prolong life
Rwandan central bank cuts rates to historical low
Inflation falls from 6.4% to 2.2% in 12 months; growth supported by higher commodity prices and improved agricultural performance
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
Libya’s eastern administration elects new central bank governor
Mohamed al-Shukri, former vice-governor under Gaddafi, is elected by the House of Representatives; the move casts doubt on PM’s unification plans
Sarb closes branches to optimise cash management
Inefficiencies prompt central bank to close three of its branches, while remaining three are ‘converted’ into cash centres
Lagarde warns of recessions in African economies
Some countries’ GDP due to shrink despite headline growth, IMF chief warns
IMF concerned about Tanzanian NPL levels
Addressing financial sector vulnerabilities should be a “priority”, as high NPL levels start to restrict lending to the private sector
Roi to vacate Mauritian governorship in January 2018
Experienced first deputy Googoolye to take over for three-year term, having already served as interim twice over the past decade
Zambia cuts rates amid improved inflation outlook
Inflation projected to continue trending towards lower end of target over medium term; governor praises government efforts to rein in deficit
Sarb rejects postponement calls from public prosecutor
Central bank does not accept Mkhwebane’s latest court request; claims her reasoning is false and “overly exaggerated”
Angola appoints third central bank governor in two years
José de Lima Massano takes over during a political shift that could pave the way for changes to exchange rate policy
Too soon to start celebrating economic improvements, says Mminele
Sarb deputy warns against complacency in latest economic roundup, saying it is too soon to start celebrating lower inflation and a more stable external environment
Bank of Zambia to revamp ‘outdated’ supervisory framework
IMF praises the central bank’s efforts to inspect banking sector following overhaul of monetary policy framework in last 12 months
Kenya’s digital transformation
The use of innovative digital financial services has transformed financial inclusion in Kenya, writes the chairman of the Central Bank of Kenya
CBN orders banks to form central customer watchlist
Nigerian central bank ramps up payment system risk management with core customer database, which will put bank customers on a ‘watchlist’ in instances of misconduct
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures
Swaziland central bank needs macro-prudential powers – IMF
Fund urges authorities to fast-track reform to give central bank financial stability mandate; reliance on customs union leaves economy vulnerable