Zimbabwe Launches New Currency Amid Economic Turmoil
On Friday, Zimbabwe introduced a new currency, ZiG, to stabilize its economy and replace the previously depreciating currency, which faced rejection by its citizens. This […]
Finance
S&P Affirms Morocco’s Ratings at ‘BB+/B’ with Positive Outlook
American credit rating agency Standard & Poor’s has affirmed Morocco’s long- and short-term local and foreign currency sovereign credit ratings at ‘BB+/B’ with positive outlook. […]
Central Bank of Nigeria Establishes Minimum Capital Base Requirements for Banks
The Central Bank of Nigeria has introduced revised minimum capital requirements for banks in a move aimed at bolstering their resilience and fortifying the country’s […]
Uganda: Salaam Bank Launches First Islamic Bank
In Uganda, Salaam Bank Limited, a unit of the Djibouti-based Salaam Group, commenced operations on Wednesday as the nation’s inaugural Islamic banking-compliant financial institution, as […]
Escape from Custody: Binance Executive Detained in Nigeria Amid Crypto Crackdown
A leader from the cryptocurrency exchange Binance has reportedly absconded from custody in Nigeria, where authorities have initiated a criminal investigation into allegations of the […]
Financial Constraints Force Southern African Troops to Withdraw from Mozambique
Southern African Regional Troops Withdraw from Mozambique Due to Financial Constraints The regional bloc of southern Africa, tasked with combating an Islamist insurgency in Mozambique, […]
Kenya’s KCB Group to sell its NBK Bank
Kenyan KCB Group plans to sell its subsidiary National Bank of Kenya (NBK), the second biggest lender in the country, the Daily Nation newspaper reported. […]
Commercial Bank of Ethiopia’s Quest to Recoup Millions Lost in Technical Glitch
Ethiopia’s largest bank is reportedly endeavoring to reclaim over $40 million following a technical malfunction that permitted customers to withdraw funds exceeding their account balances. […]
EU offers Egypt €7.4 billion package to curb migration
The EU has offered cash-strapped Egypt 7.4 billion euros in a deal to curb illegal migration from the country and the region. The package came […]
Somalia Achieves 99% Debt Cancellation from Paris Club Creditors
Somalia successfully negotiated the elimination of 99% of its debt to members of the Paris Club, marking a significant achievement in the nation’s journey to […]