Category archives for: Finance

Ghana Holds Key Policy Rate at 14.5 % Despite Calls for Reduction  

Accra, Ghana, September 28, 2020//-The Monetary Policy Committee (MPC) of Bank of Ghana (BoG) today maintained its policy rate at 14.5 % despite calls for reduction by analysts.

Harnessing Nigeria’s Fintech Potential

September 25, 2020//-Banking in Nigeria remains an attractive sector, with over $9 billion in value pools, but despite high levels of competition, the vast majority of consumers are underserved.

Tony Elumelu Named In “Time 100” List Of Most Influential People In 2020

Lagos, Nigeria, September 23, 2020// — TIME has named Tony O. Elumelu, one of Africa’s leading investors and philanthropists, in the 2020 TIME100, the annual list of the 100 most influential people in the world.

Top U.S. Credit Union Regulator Calls Financial Inclusion

September 22, 2020//-The head of the independent financial regulatory agency that oversees the United States’ system of federally insured credit unions said leaders of the sector from across the globe are uniquely positioned to promote and encourage greater financial inclusion for all during a September 21 World Council of Credit Unions’ webinar.

FinCEN Leaks: Tone Down the Rhetoric and Focus on Improving Banking Checks

September 22, 2020//-The FinCEN leaks underscore that banks must do much more to prevent financial crime, but also that a clear distinction must be made between legal and illegal financial practices.

FinCEN Files: HSBC Moved Ponzi Scheme Millions Despite Warning

September 20, 2020//-HSBC allowed fraudsters to transfer millions of dollars around the world even after it had learned of their scam, leaked secret files show.

UBA USA CEO Appointed to US EXIM’s Sub-Saharan Africa Advisory Committee

September 18, 2020//-Sola Yomi-Ajayi, the CEO of the United Bank for Africa (UBA)’s operations in the United States of America (USA), has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on Sub-Saharan Africa for 2020/2021.

Banks Bad Loans Tipped to Rise as Profitability Suffers

September 17, 2020//-Kenyan banks’ non-performing loans (NPL) ratio is projected to rise to almost 14 percent by end of the year with small businesses at greatest risk of default.

Rolling Disruption: COVID-19’s Implications for Private Equity, Portfolio Companies

September 17, 2020//-The global COVID-19 pandemic shows few signs of relenting—in fact, in addition to its dual burden on lives and livelihoods, it is triggering civil unrest, new concerns about economic inequality, geopolitical tensions, and many other effects.

UBA Chief Advises Banks, Others to Develop Security Models to Deal with Fraud

Accra, Ghana, September 16, 2020//-The Regional CEO of UBA West Africa, Mrs Abiola Bawuah, has advised banks and financial institutions to develop security models that can overpower the sophistication with which fraud is perpetuated.

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