Eyob Tekalign, the new governor of the National Bank of Ethiopia (NBE), said in an interview with Bloomberg on Wednesday that the public should expect a turnaround.| Finance in Africa
South Africa’s fintech market is projected to reach R337.7bn ($19.5bn) over the next five years, posing a growing threat to the country’s established banks, according to TransUnion’s latest South Africa Research Report.| Finance in Africa
The central banks also moved to ease monetary transmission and spur credit growth by lowering the Minimum Reserve Requirement on rupee-denominated deposits from 13% to 10%, effective October 8.| Finance in Africa
The move comes four months after Ethiopia officially opened its banking industry to foreign investors for the first time in nearly five decades, signaling a cautious but strategic liberalisation of the sector.| Finance in Africa
