Search Results: "bank"
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Central Bank of Kenya Governor grilled by National Assembly Committee over weakening Shilling.
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Nigeria's central bank announced a ban on cash deposits in foreign currency in a bid to strengthen the naira, which has come under increased pressure against the dollar since oil prices plunged last year.
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Uganda's central bank has raised its benchmark lending rate to 16 percent, barely a month after it raised it to 14.5 percent. So far this year, the bank has added 500 basis points to the central bank rate. The Bank of Uganda says the weakening of its curr
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The African Development Bank has set aside funds to assist Zimbabwe to clear its arrears with the bank. The announcement, is the country's most significant step towards resolving its debt with multilateral development banks
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Consumers in South Africa are breathing a sigh of relief after the Reserve bank decided to keep its benchmark repo rate unchanged at 6%. The bank's Monetary Policy Committee was unanimous in its decision. Despite widespread concerns that the rand would pu
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Kenya's Central Bank Governor remains confident that the country's forex reserves are adequate to handle any future shocks that may hit the country's economy despite a decline of over 16% in the year to date. As the governor, Dr. Patrick Njoroge closes in
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The South African Reserve Bank has increased interest rates by 25 basis points, citing an increased risk of inflation. Despite the improving performance of the manufacturing sector, the South African economy remains weak, with both the mining and agricult
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Zimbabwe's central bank has pushed back the launch the of local bond bank notes to October. At the beginning of May the Reserve Bank said the new notes would start circulating within two months. The notes are part of measures introduced to ease a cash sho
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Authorities in Somalia's capital Mogadishu are yet to arrest a teller who's accused of stealing over half a million dollars from the central bank coffers. Mohiyadin Mohamed Hassan is the subject of an intense manhunt in Somalia. However, the central bank
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The Reserve Bank of Zimbabwe has engaged a central bank in the SADC region to help it set up a diaspora remittance system. It's estimated that about three million Zimbabweans work abroad, but don't use formal channels to send funds back home. If migration
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Barclays Bank of Kenya has become the latest lender to announce branch closures in a move to cut costs. The bank says seven branches will shutdown on the first of October, and their operations will be merged with nearby branches.