Banking, Finance & Investment

The Monetary Policy Committee increased rates in a meeting by unanimously voting to raise the MPR (Monetary Policy Rates) by 150bps to 13.00% in its 3rd meeting of the year. …

African Bank has bought Grindrod Bank to cement its recent entry into business banking. The bank announced on Thursday that it has acquired 100% of Grindrod Bank, a subsidiary of …

Glencore International A.G. and Glencore Ltd., both multi-national commodity trading and mining Switzerland Firms involved in massive bribery of officials of Nigeria’s state-owned oil company are reportedly pleading guilty and agreed …

From 7:30 am on Saturday morning, Standard Bank started experiencing degradation on one of its components, called a generic switch which is responsible for responsible for switching transactions related to …

Nigerian stocks were 0.22 per cent weaker last week as the market slipped into correction territory after weeks of successive gains. As a great number of corporate results are still …

The African Development Bank (AfDB) Group’s board of directors announced that it approved a $1.5 billion facility to help African countries avert a looming food crisis in the continent. In a statement …

After the credit rating agency Moody’s upgraded South Africa’s outlook last month, S&P Global has now also improved its outlook to “positive” from “stable”. This was thanks in large part …

MoMo Payment Service Bank (PSB), the fintech subsidiary of MTN Nigeria Plc has commenced commercial operations in Nigeria. The telecom giant notified its shareholders and the investing public of the …

There are palpable fears of job loss in the financial sector as banks move to contain rising high operating costs.In the first quarter of the year, the cost of diesel …

Airtel Africa Plc has announced that its payment service bank subsidiary, SmartCash has commenced operations in Nigeria. This was disclosed in a statement signed by the company’s secretary, Simon O’Hara …