Africa
Three men arrested for fraud at Kenya’s central bank
Men charged with 11 counts of fraud attempted to present $6.25 million in counterfeit Treasury bills
Sarb unveils new fintech push
South Africa’s central bank to investigate DLT usage for clearing and settlement; fintech roadmap will examine crypto regulation
Angolan banks given new forex responsibilities amid shortage
Requests for foreign currency now must be submitted to commercial entities instead of central bank, with the exception of large imports of food and medicines
Tunisia’s prime minister requests replacement of governor
Country is grappling with high inflation, rising public debt and dwindling reserves
Sarb comes to defence of Capitec after ‘loan shark’ claim
US research firm takes aim at South African lender, accusing the bank of “reckless lending practices”, but central bank maintains it is “well capitalised”
Global custodian of the year: BNY Mellon
The US asset specialist has made strong progress in its effort to offer a seamless overlay of its disparate legacy systems, while also providing improved training to official institutions
Co-operation key to cyber defence success, says Sarb deputy
Groepe says institutions need to ensure fintech interconnectivity does not cause system failure; new players should be held to the same security standards
Rebased ‘Maddison’ data reshapes economic history
New approach to measuring GDP per capita generates fresh insights from the long-run growth database
South Africa needs to press ‘reset button’ in 2018 – Mminele
Economy floundered after political instability harmed investor confidence; South Africa should capitalise on the upswing of 2018, says Sarb deputy
Kenya not yet ready for more accommodative policy – Njoroge
Central Bank of Kenya leaves rates on hold despite well-anchored inflation and greater optimism; policymakers will continue to monitor interest rate cap impact
People: PBoC deputy appointed vice-mayor of Beijing
First woman nominated as deputy governor at the Bank of Mexico; Kganyago bags IMF job; Sarb gets new MPC member
Bank of Tanzania must remain ‘vigilant’ during framework transition
Central bank will need to be careful as it transitions to new monetary policy framework, IMF warns, given expected recovery in spending
People: Banque de France deputies named
Sylvie Goulard and Denis Beau take positions at Banque de France; second deputy governor at Bank of Ghana vacates post; Bolivian central bank’s board gets new vice-chair; and more
Egypt’s new banknote facility to be built by G&D
German firm awarded over $300 million for successful tender which will see “majority” of Egypt’s banknotes printed at the plant
Angola drops dollar for euro in new exchange rate regime
Kwanza depreciates 11.5% against the dollar following regime change
Central Bank of Kenya to challenge banknote tender nullification
Central bank to challenge ruling which revokes De La Rue’s tender win following claims of favouritism
Angola looks to abandon currency peg
Crippled by low commodity prices, Angola’s kwanza will be allowed to float within a range, governor says
Botswana chooses polymer for latest banknote launch
African nation partners with UK printer De La Rue for new banknote launch, opting for polymer to prolong life
Rwandan central bank cuts rates to historical low
Inflation falls from 6.4% to 2.2% in 12 months; growth supported by higher commodity prices and improved agricultural performance
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
Libya’s eastern administration elects new central bank governor
Mohamed al-Shukri, former vice-governor under Gaddafi, is elected by the House of Representatives; the move casts doubt on PM’s unification plans
Sarb closes branches to optimise cash management
Inefficiencies prompt central bank to close three of its branches, while remaining three are ‘converted’ into cash centres
Lagarde warns of recessions in African economies
Some countries’ GDP due to shrink despite headline growth, IMF chief warns
IMF concerned about Tanzanian NPL levels
Addressing financial sector vulnerabilities should be a “priority”, as high NPL levels start to restrict lending to the private sector