Author: The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s central bank is increasing pressure on lenders to keep providing credit to boost economic growth in Africa’s biggest oil producer. The West African nation’s banking regulator raised the minimum loan-to-deposit ratio to 65% from 60% to “sustain the momentum” seen in lending since it first lifted the measure in July, it said in a statement dated Sept. 30. Banks have until Dec. 31 to comply with the directive…

LAGOS (Capital Markets in Africa) – Nigeria’s banking regulator will issue a fresh circular to the West Africa nation’s lenders after some failed to meet a deadline to ramp up lending. “All banks have strived to meet it, but not all did,” Ahmad Abdullahi, director of banking supervision at the Central Bank of Nigeria, said in a text message on Monday, without elaborating. The authority will issue another notice to banks on the directive, he said, without being…

HARARE (Capital Markets in Africa) – Zimbabwe has clamped down on mobile money, tightened controls on foreign-exchange bureaux and dealers and banned the quoting of prices in any currency other than its own dollar as it struggles to manage a monetary system that’s spiraling out of control. The Reserve Bank of Zimbabwe on Monday stopped operators of mobile-money services, the dominant way in which money is moved in the country, from paying out cash. It also tightened…