NewsEast & Horn Africa

Wed,23May2018

East & Horn Africa

Tanzania shuts 5 small community banks to protect financial stability

In this photo of July 11, 2015, Tanzania's then public works minister John Pombe Magufuli speaks at an internal party poll in Dodoma, Tanzania.Photo: Khalfan Said/AP/SIPATanzania's central bank on Thursday revoked the licenses of five "critically undercapitalised" community banks to protect financial stability in East Africa's No. 3 economy. 

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Kenya regulator ditches plan to break up Safaricom

A Kenyan man talk on a mobile phone at a shop selling Safaricom products, Friday, June 6, 2008 in the Kibera slum in Nairobi, Kenya.Photo: KHALIL SENOSI/AP/SIPAKenya's telecoms regulator has ditched a proposal to break Safaricom up into separate telecoms and financial services businesses due to its dominant size, Kenya's Business Daily newspaper said on Wednesday.

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Sudan, Saudi Arabia to restore banking ties

 A woman displays Sudan's currency at the central bank in Khartoum, Sudan, Sunday July 24, 2011. Photo: Abd Raouf/AP/SIPASudan and Saudi Arabia have agreed to re-establish banking relations, the official Sudanese news agency SUNA said, a move that may help restore confidence in Sudan's economy after the lifting of U.S. economic sanctions.

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Africa: Building a two-way street

Presidence de la Republique du SenegalBusinesses want access to the bigger markets on the continent, and a number of economic players say Mauritius needs to open up to African immigration

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Haven's sake: Mauritius tries to evolve beyond offshore banking

 

altTough new international rules on tax havens are forcing Mauritius’s offshore banks to evolve. Like other parts of the economy, the financial sector is looking to Africa for growth as it also moves away from plain vanilla services to provide more sophisticated financial products

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Mauritius looks to become future university hub

05122017propertyOne sugar conglomerate is diversifying into an education hub, aiming to lure African students with the promise of a European degree for less

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