Tag Archives: banks

Kenya has introduced new banking policies. An economist weighs them up Nairobi, Kenya | AGENCIES | The Central Bank of Kenya has made two significant changes in the country’s banking sector. The first is to lift a decade-long moratorium on licensing new banks. Second is to raise capital requirements, the amount of money …

Africa’s banking sector is integrating green finance from within, using existing institutions to bypass the cost and complexity of standalone green banks. The result is a strategic, locally grounded model tackling the continent’s climate finance shortfall. SPECIAL REPORT | BIRD AGENCY | African banks are increasingly integrating green finance instruments …

The sector delivered a record performance in 2024, with industry-wide net profits surging 16% year-on-year to Shs1.6 trillion Kampala, Uganda | THE INDEPENDENT | Uganda’s banking sector delivered a record performance in 2024, with industry-wide net profits surging 16% year-on-year to Shs1.6 trillion ($420 million), buoyed by improved cost structures, asset …

Industry leaders at the Climate Finance Conference call for robust policies, enhanced capacity, and innovative products to embed sustainability in Uganda’s financial system Kampala, Uganda | JULIUS BUSINGE | Financial experts have called on banks and financial institutions to strengthen their commitment to green financing by implementing clear policies, enhancing human …

Kampala, Uganda | THE INDEPENDENT | Mumba Kenneth Kalifungwa, a seasoned Zambian accountant and corporate executive is poised for the top job at Stanbic Bank Uganda. Currently Managing Director at Absa Bank Uganda, Kalifungwa has been successfully vetted and will be the Chief Executive of Uganda’s largest bank by assets …

Launched in 2021, PAPSS processes, clears and settles cross-border trade payments on behalf of banks and other service providers ANALYSIS | AGENCIES | The African Export-Import Bank (Afreximbank) is advancing plans to establish a single electronic window for importers and exporters on the continent, signing up dozens of commercial banks to …

  A Nairobi-designed digital wallet service is nipping at the heels of Eswatini’s mainstream banks and telcos, proving that African expansion can be a gainful strategy for Fintech startups. SPECIAL REPORT | BIRD AGENCY | Instacash, a mobile money platform, has begun to break the decades-long hold of traditional banks …

Kampala, Uganda | THE INDEPENDENT |  The banking industry registered some strength towards the end of the financial year 2024, despite the closure of two Tier II lenders in the last half of the year. EFC Uganda Limited was closed in January and Mercantile Credit Bank Uganda in June 2024, …

Maintaining and servicing ATMs in remote or low-traffic areas is becoming less cost-effective for banks ANALYSIS | AGENCIES | Absa, Standard Bank, and FNB have been closing ATMs over the last five years, while Capitec has significantly increased its ATM footprint. Banks in South Africa are closing ATMs due to a …

There’s a dramatic rise in loan fraud, which surged to 46.5% as of June, up from 23.3% in March 2024 Kampala, Uganda | PATRICIA AKANKWATSA | Uganda’s banking sector is confronting a significant increase in fraud incidents, prompting experts to call for more stringent measures to address the escalating threat. Julius …