Finance & Banking
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TZ marks record agricultural achievement as AfDB President Adesina urges investment in Africa
ABUJA, November 4, 2024 — Tanzania is setting new benchmarks in food self-sufficiency across Africa, raising hope that the fight against hunger and malnutrition on the continent is achievable. President Samia Suluhu…
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Masindi: Stanbic Bank donates equipment to Kyatiri Health Centre
MASINDI, November 1, 2024: Stanbic Bank Uganda has donated health equipment valued at Shs 35 million to Kyatiri Health Centre III in Kyatiri Town Council, Masindi district, aimed at enhancing service delivery.…
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Afreximbank calls for increased collaboration to accelerate the green energy transition in Africa
WASHINGTON D.C., October 31, 2024 — The eighth Babacar Ndiaye Lecture held at the Four Seasons Hotel in Washington D.C., days ago under-scored the need for African nations to strike a balance…
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Stanbic Bank cuts interest rate to 19.50 percent
KAMPALA, October 30, 2024 — Uganda’s largest bank by assets, Stanbic Bank, has reduced its local currency prime lending rate [PLR] to 19.50 percent from 19.75 percent, effective December 1, 2024. This…
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MDBs sign US$ 1bln exchange exposure agreement to increase development lending capacity to African nations
WASHINGTON, DC., October 28, 2024 — The African Development Bank (AfDB] and the Asian Development Bank [ADB] have signed a US$ 1 billion exchange exposure agreement [EEA] aimed at enhancing the African…
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Widespread progress in African financial markets
KAMPALA, October 25, 2024 — There have been clear improvements across countries in the Absa Africa Financial Markets Index 2024. Scores have risen for 23 countries [82 percent], which is the highest…
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World Bank Group advances Gender Strategy, unveils economic opportunity ambition
WASHINGTON, Oct, 24, 2024 – The World Bank Group today took the first steps toward implementing Gender Strategy 2030, announcing a set of actions and concrete goals that aim to boost economic opportunities…
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Ruto confirms support for SACCO movement in meeting with credit union leaders
NAIROBI, October 24, 2024 —Kenyan President, William Ruto recently confirmed cooperatives are central to his government’s priorities and that he wants to see the Savings and Credit Cooperative [SACCO] movement in Kenya…
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Global Credit Union membership surpasses 411mln
MADISON, Wis., October 24, 2024 — World Council of Credit Unions’ [WOCCU] 2023 Statistical Report shows membership in the global credit union movement topped 411 million, while assets surpassed US$ 3.7 trillion last…
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Afreximbank to double Creative Africa Nexus funding to US$ 2bln to boost Africa’s creative economy
ALGIERS, October 21, 2024 — President and Chairman of the Board of Directors of Afreximbank, Pro. Benedict Oramah, has announced that Afreximbank will increase its funding to the Creative Africa Nexus [CANEX]…
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