Sudan debt relief moves forward
Under a debt relief plan won by advocates in the early 2000s, Sudan could see a drastic cut in its $50 billion debt this summer, according to the IMF and the World…
COVID triggers changes in payments habits
More than eight in ten consumers (86%) say that their payments habits have changed since the start of the pandemic, with 59% trying a new payment method for the first time –…
Majority Ethiopians still have no access to credit
Despite the increase in the number of banks, microfinances and their branches over the last 25 years, the majority of Ethiopians mainly the very poor and those engaged in micro and small…
African finance ministers reflect on Special Drawing Rights
Africa’s Finance, Development and Planning Ministers on Tuesday called for a swift, bold and positive response from international financial institutions on Special Drawing Rights (SDRs) in the range of 500 billion to…
Five U.S. billionaires wealth up by $355 billion
The United Sates (U.S.) top billionaires did extremely well during the COVID-19 pandemic, growing their already-huge fortunes to a new record high.
Congo offers public bond to raise 100 billion CFA franc
The Republic of Congo has launched a public bond offering. The operation “EOCG 6.25% NET 2021-2026”, which aims to raise 100 billion CFA francs, has a net interest rate of 6.25% for…
IFC appoints new country manager for East Africa, Malawi
IFC, a member of the World Bank Group, has appointed Amena Arif as its new Country Manager for Kenya, Tanzania, Uganda, Rwanda, Burundi, Somalia, and Malawi, effective immediately.
Visa set to digitize payments in Ethiopia
Visa Inc. (NYSE: V) Leading global payments technology company, Visa has affirmed its commitment to expanding digital payments in Ethiopia by working closely with the financial ecosystem to bring the benefits of…
African Development Bank finances electronic payments modernization of Ethiopia
The Board of Directors of the African Development Bank has approved a grant of $2.33 million to EthSwitch Share Company, an initiative led by National Bank of Ethiopia, for the modernization of…
AfDB named world’s best multilateral financial institution
The prestigious U.S. magazine, Global Finance, specializing in financial markets and investment banking, has named the African Development Bank (AfDB) as the “Best Multilateral Financial Institution in the world for 2021”.
Nium payments platform remits funds into four African markets
Nium, an advanced global payments platform, announced today that its clients are now able to send funds to their business partners located in Ghana, Kenya, South Africa and Tanzania, with more countries…
Financial inclusion for Africa’s women entrepreneurs
Creating female-centric financial products and solutions for Africa’s power-force of women entrepreneurs is gaining momentum as a core focus for banking and financial services industries on the continent. Financially empowered women hold…
Amhara Bank joins Ethiopia’s banking industry
With over 6 billion Birr paid-up capital Amhara Bank, the new entrant to the banking sector of Ethiopia, today held its inaugural meeting.
Ethiopia opens door for foreign mortgage banks
The Government of Ethiopia expressed its willingness to open its banking sector for foreign banks engaged in financing housing (mortgage banks).