Author: The Editorial Team

NAIROBI (Capital Markers in Africa) – Kenya’s central bank increased its authorized and paid-up capital amid demands by the government that state-owned corporations remit more dividends to its coffers. The central bank strengthened its paid-up capital by 75% to 35 billion shillings ($345.3 million) in September from 20 billion shillings, having increased authorized capital to 50 billion shillings from 5 billion shillings, the lender said on its Twitter account. The statement follows acting Treasury Secretary Ukur…

LUSAKA(Capital Markers in Africa) – Zambia’s central bank and the government agreed that 4.4 billion kwacha ($310 million) the state owed the institution be converted into securities, Governor Denny Kalyalya said. The state borrowed the money from the Bank of Zambia at a time when the country was emerging from an electricity crisis and economic strain, and as elections in 2016 approached. The loans peaked at 5.3 billion kwacha in July 2016 but were marked as zero…

JOHANNESBURG(Capital Markers in Africa) – The South African Reserve Bank held its benchmark interest rate and signaled that it may only start easing again in the second half of next year. The Monetary Policy Committee voted to keep the repurchase rate at 6.5%, Governor Lesetja Kganyago told reporters Thursday in the capital, Pretoria. Three members of the five-person panel opted to maintain the rate while the rest preferred a 25 basis-point cut. The decision was in line…