African Banks Under Pressure to Accelerate Digital Transformation

NEWS: African Banks Under Pressure to speed up…

The spread of the Covid-19 pandemic across Africa has considered a surge in digital payments and e-commerce transactions as economic institutions scramble to provide organizations and consumers contactless methods of spending, borrowing and lending, and…

Morocco’s Central Bank Identified 9,575 Counterfeit Banknotes in 2019

NEWS: Central Bank of Morocco Reported 9,575 counterfeit…

Morocco’s central bank, Bank Al Maghrib (BAM), recognized 9,575 counterfeit banknotes in 2019, worth MAD 1.5 million ($161,000). The number of counterfeit banknotes extended with the aid of 6% in contrast to 2018, a press launch from BAM announced on…

Loans in banking

Kenya: High loan provision eats into banks’ Q1…

High forward-looking loan provision in the wake of Coronavirus dent banks’ profits in the first three months of the year. Kenya adopted the IFRS19 accounting standard that requires financial institutions to provide for unforeseen defaults…

Mobile Money

Zimbabwe: RBZ tightens reins on mobile money

The Reserve Bank of Zimbabwe (RBZ) introduced more measures yesterday affecting EcoCash agents as part of what is now seen as a policy to bring EcoCash agents into the formal banking system and ensure they…