Banking and Insurance

News : Banking and Insurance

Sudan: Hamdouk Meets AfDB's Delegation

[SNA] Khartoum -Prime Minister Dr. Abdallah Hamdouk met at his office here Thursday the delegation of the African Development Bank (AfDB), headed by the bank's vice-president Ms. Jennifer Blanke. (AllAfrica)

Nigeria: Bank Charges On Deposits, Withdrawals Above N500,000 Take Effect April 1

[This Day] The nationwide implementa-tion of the Central Bank of Nigeria (CBN)'s cashless policy on deposits and withdrawals above N500,000 will take effect nationwide from April 1. (AllAfrica)

Kenya: Banks Return Sh385 Million NYS Loot

[Nation] Kenya's chief prosecutor has struck an out-of-court deal with five banks involved in the Sh11 billion National Youth Service scandal, which has seen the lenders refund the taxpayer Sh385 million. (AllAfrica)

Nigeria: CBN Unveils Draft Guidelines for MFBs

[This Day] The Central Bank of Nigeria has released an exposure draft guideline for the regulation and supervision of the microfinance banks (MFBs). (AllAfrica)

Nigeria: Coronation Appointed Customs Revenue Collecting Bank

[This Day] Coronation Merchant Bank has been appointed as a designated bank for the collection and remittance of all Revenue Payments (i.e. Import, Excise and other duties) by the Nigeria Customs Service. (AllAfrica)

Nigeria: Police, Banks Helpless, As Online Loan Fraud Emerges

[Vanguard] The emergence of online loans accessed through digital platforms of banks and financial technology companies, Fintechs, may have provided new opportunities for bank customers. (AllAfrica)

Tanzania: How Hospital Claims Are 'Draining' Insurance Firms

[Citizen] Dar es Salaam -Insurance companies are paying more to hospitals than any other covered area, largely due to inflated claims lodged by some medical facilities. (AllAfrica)

Rwanda: Why Rwandan Banks Operating Costs Are Going Up

[New Times] Operating costs of local banks have been rising steadily in the last three years, statistics from the Central Bank show. (AllAfrica)

East Africa: Stanbic Uganda Boss Heads EA Bank Units

[East African] The Standard Group of South Africa has made changes at the executive suite of Stanbic Bank Uganda, promoting chief executive Patrick Mweheire to group regional chief executive for East Africa. Anne Juuko takes over at the helm of the Uganda office. She was previously the head of treasury and operations at the bank. (AllAfrica)

Tanzania: BoT Plans to Rollout Mobile Based Bonds

[Daily News] Arusha -THE Bank of Tanzania (BoT) is planning to introduce a mobile platform that will enable retail investors to apply for and trade treasury bills and bonds. (AllAfrica)

Nigeria: Nova Records N1.65 Billion Profit

[This Day] Nova Merchant Bank Limited has released its audited 2019 full year financial results which showed that its profit after tax increased by 44 per cent, to N1.65 billion, compared to the N1.15 billion recorded the previous year. (AllAfrica)

Tanzania: Banks Seek a Slice of Insurance Business

[Citizen] Dar es Salaam -The desire to diversify their income-generating streams and seek a slice of the business that comes with their role as agents of insurance firms is pushing banks towards bancassurance, The Citizen has learnt. (AllAfrica)

Nigeria: IFRS 17 - Insurers Should Develop Business Plan - NAICOM

[Vanguard] The National Insurance Commission, NAICOM, has charged insurance companies to develop business plan in preparation for transition to IFRS 17 before the implementation date of January 2022. (AllAfrica)

Uganda: Future of Insurance Industry in Uganda Is Promising

[Monitor] Last year witnessed the insurance sector transform with numerous regulatory changes greatly contributing to the positive growth of the sector. (AllAfrica)

Kenya: Sanlam, Standard Chartered Unveil App-Based Funeral Cover

[Capital FM] Nairobi -Standard Chartered Bank Kenya, in partnership with Sanlam Kenya, have introduced a mobile app-based funeral insurance product. (AllAfrica)

Somalia: Somalia To Reestablish Financial Relations with The World Bank Group After Thirty

[World Bank] The World Bank Group Board of Executive Directors today moved toward normalizing its relations with the Federal Government of Somalia (FGS) after thirty years. This will open up opportunities for Somalia to access concessional financing from the World Bank's International Development Association (IDA) and to work closely with all arms of the World Bank Group to attract investment that will support the country's stability and development. (AllAfrica)

Nigeria: How Nigeria Can Benefit From Regional Economies - Devt Bank Boss

[Vanguard] Development Bank of Nigeria, DBN, yesterday said for Nigeria to realise the potential benefits of regional integration, there is need to operationalise existing trade agreements that includes provisions to deal with trade barriers and settling trade disputes. (AllAfrica)

Zimbabwe: Central Bank Criticized Over Interbank Forex Market Failure

[263Chat] Reserve Bank of Zimbabwe (RBZ) has come under fire over inefficiencies in the operations of the inter-bank foreign exchange market arising from alleged manipulation of the exchange rates by the Central Bank, 263Chat Business can report. (AllAfrica)

Nigeria: Coronation Merchant Bank Appointed Customs Revenue Collecting Bank By the Nigeria Customs Service

[Vanguard] Coronation Merchant Bank has been appointed as a designated bank for the collection and remittance of all Revenue Payments (i.e. Import, Excise and other duties) by the Nigeria Customs Service. (AllAfrica)

Malawi: Ecobank Charity Shield Sponsorship Up to K20m

[Nyasa Times] Ecobank Malawi Limited says it is geared to roll out the 2020 edition of the Football Association of Malawi (FAM) organised Ecobank Charity Shield scheduled for March 14-15 in Blantyre with increased sponsorship. (AllAfrica)

Nigeria: Access Bank Named Among Top 500 Global Banking Brands

[This Day] Access Bank Plc has been named as one of the top 500 global banking brands, according to leading business valuation and strategy consultancy, Brand Finance. (AllAfrica)

Mozambique: Central Bank Leaves Interest Rates Unchanged

[AIM] Maputo -The Monetary Policy Committee of the Bank of Mozambique (CPMO), meeting in Maputo on Thursday, has decided to leave its key interest rates unchanged. (AllAfrica)

Malawi: NBS Bank, Forex Bureau Posts U.S.$295,9 Million Profit After Tax

[Nyasa Times] NBS Bank Plc and NBS Forex Bureau Limited's financial performance has tremendously improved in the past two years and as at the end of 31 December 2019, they registered K4.46 billion profit after tax. (AllAfrica)

Rwanda: MPs Express Concern Over Low Insurance Penetration in Rwanda

[New Times] The Parliamentary Standing Committee on Economy and Trade has tasked the Central Bank to devise new strategies that will increase insurance penetration among different property owners and thus avoid financial losses and impact on the national economy in case of any disasters. (AllAfrica)

Ghana: Activa Launches Online Insurance System

[Ghanaian Times] Activa International Insurance Ghana (AIIG) has launched an online insurance system aimed at driving client-focused innovation by facilitating all insurance needs. (AllAfrica)

Ghana: GhIPSS Concluding Preparations for Launch of QR Code Next

[Ghanaian Times] The Ghana Interbank Payment and Settlement Systems (GhIPSS) is concluding preparations for the launch of the universal QR code next month, Mr Archie Hesse, the Chief Executive of Ghana Interbank Payment and Settlement Systems (GhIPSS), has said. (AllAfrica)

Zimbabwe: Unsettled Central Bank Debts Spark Alarm

[Zimbabwe Independent] There is growing concern that delays by the Reserve Bank of Zimbabwe (RBZ) to conclude the issue of legacy debts may worsen the country's foreign currency scarcity, businessdigest has learnt. (AllAfrica)

Zimbabwe: Stanchart, Retrenchees Clash Over Forex Packages

[The Herald] At least 31 former Standard Chartered Bank of Zimbabwe middle managers are demanding their retrenchment packages in foreign currency in line with the settlement reached between the parties at the time, two years ago. (AllAfrica)

Zimbabwe: Parliament to Follow Up On Central Bank Funds

[The Herald] Parliament will follow up on all companies that received foreign currency from the Reserve Bank of Zimbabwe (RBZ) to promote accountability and transparency. (AllAfrica)

Liberia: CBL to Get Additional Technical Assistance

[New Dawn] The Executive Governor of the Central Bank of Liberia (CBL), J. Aloysius Tarlue, Jr. has received assurances from the Central Bank of Nigeria (CBN) for technical assistance. The assurances were given by Governor Godwin I. Emefiele of the CBN on Friday, February 21, 2020 in Abuja, Nigeria. (AllAfrica)

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)