Banking and Insurance

News : Banking and Insurance

Mozambique: Bank of Mozambique Warns Against Data Theft

[AIM] Maputo -The Bank of Mozambique on Friday warned that criminals are trying to steal banking information from citizens under cover of the current drive by commercial banks to update information on their clients. (AllAfrica)

Zimbabwe: Bring Back the Multi-Currency Regime - Biti

[Zimbabwe Independent] Former Finance minister and Harare East legislator Tendai Biti says Zimbabwe needs to reintroduce the multi-currency regime, seek debt cancellation and liberalise the fuel industry, among other interventions, to get the economy ticking again. (AllAfrica)

Rwanda: BK Group Registers U.S.$26 Million in Profit

[New Times] BK Group PLC has recorded a profit of Rwf25 billion in the first nine months of 2019, with its subsidiary commercial bank and insurance arms having the largest impact on growth. (AllAfrica)

Ghana: Make Use of Financial Inclusion Triangle - Public Urged

[Ghanaian Times] The public has been urged to explore the benefits of moving funds to and fro the three main payment platforms namely bank accounts, the e-zwich and the mobile money platforms. (AllAfrica)

South Africa: The Limits of the European Central Bank

[Daily Maverick] New ECB president Christine Lagarde leads a mighty institution that is far less independent in practice than it is in theory. (AllAfrica)

Zimbabwe: Banking On Social Media, a New Disruptor

[Zimbabwe Independent] SOCIAL media has disrupted the way people interact and even the way business is being done now and in future. We may argue over the pros and cons, but the fact remains that social media is here to stay. (AllAfrica)

South Africa: Tymebank Enters the Capitec Big League With Unsecured Lending

[Daily Maverick] As Capitec reduces its unsecured lending exposure to lower-income consumers due to a recently introduced debt-relief regulation, TymeBank wants to ramp up this form of lending. It wants to have a loan book that is worth about R2-billion by 2022. (AllAfrica)

Africa: Pan-African Insurer Keen to Strengthen Disaster Cover

[New Times] African governments have expressed confidence in African Risk Capacity Insurance's ability to help the continent hedge against disaster-induced risks. (AllAfrica)

Nigeria: 14 Korean Companies to Invest in Nigeria

[Daily Trust] About 14 Korean companies will invest in Nigeria soon, the Korean Ambassador to Nigeria, Lee In-Tae, said on Thursday. (AllAfrica)

Tanzania: Agri Bank Dishes Out 11.5bn/ - for Irrigation Schemes

[Daily News] STATE-owned Tanzania Agricultural Development Bank (TADB) has reaffirmed its commitment to increase funding for irrigation schemes and the bank has so far dished out loans amounting to 11.48bn/-for various projects countrywide. (AllAfrica)

Zimbabwe: Bank Workers Challenge Police Ban of Protest Against Austerity Measures

[263Chat] THE Zimbabwe Banks and Allied Workers Union (ZIBAWU) on Wednesday 27 November 2019 filed an urgent chamber application at the High Court seeking an order to overturn the ban of the labour union's demonstration by Zimbabwe Republic Police (ZRP). (AllAfrica)

Nigeria: CBN, Stakeholders in Dialogue for New Pricing Regime

[Vanguard] The Central Bank of Nigeria (CBN) said it is in dialogue with Telecommunications companies (Telcos) and the Nigerian Communication Commission (NCC) for new pricing regime for Unstructured Supplementary Service Data (USSD) and would get back to Nigerians as soon as a decision is made. (AllAfrica)

Ghana: Sonzele Rural Bank to Remain Focus On Strategic Objectives - Board Chairman

[Ghanaian Times] Jirapa -The Chairman of the Board of Directors of the Sonzele Rural Bank, Mr Mathias Samwine says the bank is poised to increase its capital by the year 2020. (AllAfrica)

Nigeria: Top Kenyan Banks Have Stronger Cost-to-Income Ratios Than Nigerian Banks - Moody's

[This Day] Kenya's three largest rated banks have stronger cost-to-income ratios than their Nigerian counterparts, despite their higher retail overhead costs, Moody's Investors Service have stated in a peer comparison report. (AllAfrica)

Tanzania: NHIF Set Ambitious Enrollment Target

[Daily News] THE National Health Insurance Fund (NHIF) targets to cover between 30 and 50 per cent of Tanzanians with its health insurance services by June next year as it rolls out new treatment packages today. (AllAfrica)

Mauritius: Monetary Policy Committee of the Bank of Mauritius - Key Repo Rate Unchanged

[Government of Mauritius] The Monetary Policy Committee (MPC) of the Bank of Mauritius (Bank) has, by majority vote, decided to keep the Key Repo Rate (KRR) unchanged at 3.35 per cent per annum at its meeting, yesterday 27 November 2019. (AllAfrica)

Kenya: Stanchart to Tap to the Affluent With Its New Visa Infinite Credit Card

[Capital FM] Nairobi -Standard Chartered Bank (SCB) Kenya has launched the Visa Infinite credit card, which targets the affluent segment by offering a range of value-added benefits, including best-in-class privileges. (AllAfrica)

Nigeria: Deepening Financial Inclusion Drive

[This Day] Ugo Aliogo examines the role of First Bank Nigeria Limited in promoting financial inclusion (AllAfrica)

Zimbabwe: Thousands Flock to Register for NetOne's OneMoney

[263Chat] Netone's mobile money platform, OneMoney registered 1 680 customers yesterday alone with thousands more expected by day end as customers scrambled to capitalize on the mobile money services free-charge promotion which the company announced lastweek. (AllAfrica)

Malawi: FDH Bank Hacked

[Nyasa Times] FDH Bank, which is on a path to list on the 14-counter Malawi Stock Exchange (MSE) by June 2020, has had its customers data breached by hackers, Nyasa Times understands. (AllAfrica)

South Africa: Trade Union Pension Funds Sit With Billions of Rands in Unclaimed Benefits

[GroundUp] R19 billion owed to beneficiaries in metal industry (AllAfrica)

Nigeria: Fairmoney Launches Loan Facilities for Individuals, Small Businesses

[This Day] FairMoney, the mobile bank for emerging markets, is running the 'No Excuses' campaign to encourage individuals and small businesses to take advantage of its loan offering of N1,500 to N150,000. (AllAfrica)

Ghana: Access Bank Wins 4 Awards

[Ghanaian Times] Access Bank Ghana, one of Ghana's leading retail banks has been honoured in several categories at the 9th Marketing World Awards held at the Movenpick Ambassador Hotel in Accra. (AllAfrica)

Rwanda: Rwanda Bank Moves to Spur Growth in Private Sector

[East African] Rwanda's private sector is likely to benefit from relatively cheaper credit, after the central bank maintained its repo rate at five per cent, a move that is expected to further stimulate banks' lending to the private sector. (AllAfrica)

Mozambique: African Development Bank Approves Loan for Mozambique LNG

[AIM] Maputo -The African Development Bank (ADB) has announced approval of a loan of 400 million US dollars to the Mozambique LNG (Liquefied Natural Gas) Area One project. (AllAfrica)

Africa: A New Climate Economy

[IMF] "Everybody talks about the weather, but nobody does anything about it." The quip, attributed to 19th-century American humorist Mark Twain, might describe the current state of play on climate change. In Twain's day, it was absurd to suppose humans could do anything about the weather. (AllAfrica)

Liberia: GN Bank, Forex Bureaus Sign Agreement

[Observer] The Groupe Nduom Bank (GN Bank) Liberia Limited, one of the country's fastest growing banks, and the National Association of Foreign Exchange Bureaus of Liberia (NAFEBOL), have signed an agreement mutual partnership to promote access to finance. (AllAfrica)

Botswana: IMF Staff Completes 2019 Article IV Mission to Botswana

[IMF] End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF's Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision. (AllAfrica)

Zimbabwe: Strike Out Metbank Defamation Suit, Social Security Body Urges Court

[The Herald] Metbank is suing the National Social Security Authority (NSSA) and BDO Zimbabwe Chartered Accountants for $100 million in defamation damages for publishing an audit report that damages the reputation of the bank, but NSSA wants the High Court to strike out the defamation lawsuit on the grounds that it is vague and embarrassing. (AllAfrica)

Zimbabwe: EcoCash Works to Clear Customer Queries

[The Herald] As EcoCash services normalise after the problems of the recent upgrade, the company says it was now working on clearing customer queries, some relating to transactions that never reached intended beneficiaries despite leaving the customer's account. (AllAfrica)

Africa: Four Ways the African Development Bank Can Support a More Secure Africa

[IPS] Abuja -Free movement of people and goods across Africa increases the risk of transmission of infectious diseases. The continent must realise that it is no longer a question of if disease outbreaks will occur, but instead, of when, and how fast. (AllAfrica)