Banking | - Part 102

What are the African Central Banks doing: Keeps, Slashes or Hikes?

Angola’s central bank leaves benchmark lending rate unchanged at 16 pct The National Bank of Angola (Banco Nacional de Angola, BNA) left its benchmark lending rate unchanged at 16 percent during its latest monetary policy meeting. The Central Bank has raised the Basic Interest Rate three times since the beginning of the year in an effort to combat spiraling inflation; the previous hike was at the monthly meeting in June. Inflation has been soaring due…

South Africa’s Banks: Examining the Current Environment, Exploring the 10 Year Outlook

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The 2015/16 Global Competitive Index, published by the World Economic Forum, rates the SA banking sector 6 out of 140 countries in the availability of financial services and 8th in the soundness of banks. This is high praise for a banking sector that is small in global terms, but is globally connected and punches way above its weight globally. The quarterly S A Reserve Bank Report details statistics that…

Mauritius’ Banking Sector: Overview, Challenges and Opportunities

Posted on by The Editorial Team

Banking Sector Overview Over 20 banks operate in Mauritius and, in addition to traditional banking services, they offer a range of specialised services ranging from custodial services to cross-border activities. Half of these banks offer retail banking services to residents – a space dominated by a couple of players – while the rest focus on specialised international banking services and also include a couple of purely private banks. In Mauritius, the domestic operations are typically…

The Banking Bill: A State of Transition for the Kenyan Banking Sector

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Banking (Amendment) Bill by Parliament to cap banks’ lending rates at 400 bps above the Central Bank of Kenya’s base rate and impose a deposit floor at 70% of the CBR was signed into law on 24th of August 2016. If the law is implemented immediately, banks will charge a maximum of 14.5% on loans while paying about 7.35% on deposits held in interesting earning deposits. Impact on Banks…

Nigeria Central Bank set limits on banks’ investment in govt Islamic bonds

Posted on by The Editorial Team

LAGOS ((Capital Markets in Africa)) – Nigeria’s central bank has set commercial banks’ investment in Islamic bonds issued by state governments to 10 percent of the total amount on offer and fixed a maximum tenor of 10 years for the bonds, it said in a circular. The central bank said it considered the need to issue the guidelines to enhance the quality of sukuk instruments and to grant liquidity status at its discount window as well…

South Africa’s PIC Has ‘Appetite’ for Barclays Africa Stake

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JOHANNESBURG (Capital Markets in Africa) – Public Investment Corp., Africa’s largest money manager, said it’s interested in boosting its holding in Barclays Africa Group Ltd. and is still considering the best partner to team up with for a bid. “There is appetite from our side to increase our stake,” Chief Executive Officer Dan Matjila said in an interview in Pretoria on Tuesday. “We’re still assessing which is the best partner to go with and the best partner with…

FirstRand Considers Nigerian Acquisitions as Valuations Ease

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – FirstRand Limited, Africa’s biggest bank by market value, said it’s considering acquisitions in African countries including Nigeria where the slide in oil prices and a devalued currency has undercut prices. “Asset prices in jurisdictions such as Nigeria have recently become much more realistic,” Chairman Laurie Dippenaar said in the Johannesburg-based company’s annual report, published on FirstRand’s website on Tuesday. “We feel more comfortable to look for opportunities to deploy shareholder capital…

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