Bank of Kigali investors have lost an estimated $7.5 million after its stock, trading on Rwanda bourse, shed 3.4 per cent of its value from December 2017 to November 8.

The market value of the bank has plummeted from Rwf195 billion ($218.5 million) to Rwf188.2 billion ($211.6 million), brought down by old shareholders selling their shares at lower prices to raise capital and increase their stakes in the Bank of Kigali rights issue.

Rwanda’s"...

Khartoum- The Governor of the Central Bank of Sudan (CBOS) Dr. Mohamed Khair Al Zubair received at his office yesterday the CEO of the French Enterprise Bank in the presence of the Ambassador of France to Sudan and Deputy Secretary General of the Sudanese Businessmen Union Bakri Yusuf.
The French Ambassador, speaking at the outset of the meeting, lauded the deep rooted bilateral relations between the two countries, especially the cultural and economic relations, saying that they are to embark on direct dealings with"...

(AETOS Wire)-- Far from being the universal banking giants of Wall Street, London, Frankfurt, Paris, Tokyo or Beijing that typically combine commercial and investment banking activities, the best banks in the world are focused on consumer and business banking. They are also smaller and often younger than the big brands of the banking industry. So says a new study from global banking research firm, Lafferty Group, London.

STAR-RATINGS"...

South Africa’s central bank yesterday fined HSBC’s local business 15 million rand (844,927 pounds) for weaknesses in its processes meant to detect money laundering and terrorism financing, and ordered the bank to fix the problems. The Prudential Authority (PA), which sits within the South African Reserve Bank (SARB) and monitors the country’s lenders, said HSBC’s South African branch had already taken the measures required to address the issues.

“Certain"...

Yesterday the Sudanese Pound continued its drop against the US Dollar, reaching SDG 58 in the parallel market. A number of pharmacies have stopped importing medicines against the current exchange rate.

The US Dollar purchase price through cheques reached SDG 56.5, while purchase through cash reached SDG 58. Because of the lack of liquidity in the banks, the US Dollar has carried two prices on the black market, and the purchase price by cheques is"...

November 5, 2018 (KHARTOUM) - The U.S. dollar price on Monday hit an all-time high on the black market as the Sudanese pound declined to 58,00 per dollar.

Last month, the Central Bank of Sudan (CBoS), formed a body of bankers and exchange bureaus to set the official exchange rate on daily basis.

The move was part of a package of financial and monetary measures designed"...

Global banking giants, HSBC and UBS have closed their offices in Nigeria, while a report published by the Central Bank of Nigeria (CBN) revealed that foreign investment had fallen sharply since last year.

The report said foreign direct investment in Nigeria fell to 379.84 billion naira ($1.2 billion) in the first half of the year from 532.63 billion naira ($1.7 billion) a year earlier.

Although"...

HSBC and UBS have closed their offices in Nigeria, the country’s central bank a report said on Friday as it revealed foreign investment had fallen sharply from a year ago.

The bank said foreign direct investment in Nigeria fell to 379.84 billion naira ($1.2 billion) in the first half of the year from 532.63 billion naira ($1.7 billion) a year earlier.

It did not"...

Ecobank revealed that the introduction of RapidTransfer, a mobile remittance platform, which was implemented to fulfil its wish to promote digital banking in Nigeria.

The development was disclosed by Mr. Patrick Akinwuntan, Ecobank’s new Managing Director, who spoke at a dinner in Lagos organised to celebrate outgoing members of the Ecobank Nigeria Board, as well as to welcome newly appointed directors.

According"...

The Executive Vice President, Business Development and Corporate Banking at the African Export-Import Bank (Afreximbank), Amr Kamel said transformation of trade in Africa is a task that all African financial institutions must collectively pursue as major stakeholders in Afreximbank, in order to facilitate African trade.

Kamel, who was represented by a Consultant on Financial Institutions/Trade, Ademola Adeyinka revealed his opinion while speaking"...