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[Navigating Nigeria Financial Landscape: Best Practices] Nigeria, Africa's largest economy, boasts a dynamic and complex financial landscape. With a thriving banking sector, . . . https://lnkd.in/dgCXi9VZ

The financial sector in Ghana has undergone a significant transformation in recent years, marked by the collapse of several financial institutions and the subsequent cleanup efforts by the government. Among the most pressing questions in the wake of these developments is whether the losses incurred by the Bank of Ghana (BoG), totaling Gh¢60 billion, could have been prevented and whether the government’s decision to implement haircuts for bondholders is justifiable. #TheSikamanTimes #features #BankofGhana #MinistryofFinance #KenOforiAtta #ErnestAddison YAFO Institute >>> Read more here:

via @PerilOfAfrica #News #Uganda Report: More Ugandans Have Access to Financial Services: By CHIMPREPORTS The number of Ugandans with access to financial services has jumped in the last two years by over 20% according to a recent study. The study conducted by South African based company Finscope, found that many more Ugandans can access and use both formal and informal financial services According to the 2018 financial […] The post Report: More Ugandans Have Access to Financial Services first appeared on Peril Of Africa.

Exploring Securities-Based Loans Using Government Bonds as Collateral in Zambia: Unveiling Opportunities for 2024 Financial Planning   As we gear up for 2024, I've been contemplating an essential aspect of financial strategy: the possibility of securing a securities-based loan from local commercial banks while pledging government bonds as collateral. This practice, known for leveraging existing assets for additional liquidity, has sparked my curiosity about its feasibility within Zambia's financial landscape.   One key query revolves around the feasibility of utilizing government bonds as collateral for loans from local commercial banks. Considering that government securities are often regarded as risk-free, I'm interested to know how banks benchmark interest rates against such secure collateral. Will the interest rates be structured differently, given the risk-free nature of government securities?   Moreover, I'm interested in identifying banks in Zambia that offer these types of loans. Understanding the competitive edge among these financial institutions, particularly in terms of interest rates, would be crucial for prospective borrowers (like me) looking to leverage their government bonds for financial flexibility.   I'm reaching out to my connections and the LinkedIn community to gather insights and experiences regarding the feasibility of using government bonds as collateral for securities-based loans in Zambia. Any information, recommendations, or experiences shared would be immensely valuable as I navigate the landscape of leveraging assets for financial planning in the upcoming year.   #ZambiaFinance #SecuritiesBasedLoans #GovernmentBonds #FinancialPlanning2024 #LinkedInCommunity

Eight banks accounted for 67% of the banking industry exposure to the Domestic Debt Exchange Programme. This confirmed Joy Business story in November 2023 that eight banks were highly exposed to the Government of Ghana bonds. According to the 2023 Ghana Banking Survey by accounting professional, PwC, 72% of the impairment charge in 2022 were attributed to these banks. GCB, Consolidated Bank Ghana, Ecobank Bank Ghana and Absa Bank Ghana recorded the highest impairment charges of ¢1.81 billion, ¢1.77 billion, ¢1.62 billion and ¢1.61 billion respectively. However, the banks most impacted by impairment charge as a proportion of their investment securities portfolio were CalBank, Prudential Bank, Zenith Bank and First National Bank. The banks that were least impacted by the DDEP included FBN Ghana and Societe Generale.

Second Deputy Governor of the Bank of Ghana (BoG), Elsie Addo Awadzi, has called for the infusion of financial inclusion strategies into the business models of financial service providers. The infusion of financial inclusion strategies into the business models of financial service providers, the Second Deputy Governor noted, is to help make a significant push for financial inclusion and ensure that the excluded, underserved, and unserved are brought into mainstream financial services. “For us to make a real push for financial inclusion and ensure that the excluded and underserved and unserved are brought into mainstream financial services, then we need to think about financial inclusion not as a fringe issue but rather we need to consistently make sure that this is mainstreamed into policy and regulation and the business models of financial service providers and payments service providers as well. This then becomes the underlying business model of financial service providers,” she quipped. https://lnkd.in/dqhtGjQd

ZM: Bank of Zambia Unveils Comprehensive Plan to Strengthen Financial Integrity and Transparency In a proactive move to fortify financial integrity and enhance transparency in international financial transactions, the Bank of Zambia has laid out a comprehensive roadmap. This initiative encompasses a range of measures, each designed to ensure the robustness of the country’s financial landscape. Picture Credit: Zambia Invest

Standard Chartered Bank Explains The Reasons Behind Nigeria’s Need to Borrow N21 Trillion in 2024 To avert financial insolvency, the Federal Government of Nigeria is projected to borrow a significant sum of N21 trillion in 2024, as revealed by Standerd Chartered bank, Nigeria. This decision is in response to the government’s ambitious plan to allocate N28.7 trillion in its 2024 budget. #nigeriangovernment #standardcharteredbank

Norvan Reports 📈 "DDEP" Coupon Payments: Fueling Ghana's Financial Market Recovery 🇬🇭 The journey of Ghana's Financial Markets has been marked by adversity. Investors have weathered their fair share of challenges. Amidst this turbulence, coupon payments have emerged as a beacon of hope. The forthcoming payments hold immense significance. In my latest article, I delve into the critical areas that warrant attention as we eagerly await Ghana's financial market recovery. We are Young Investors Network (YIN) Joshua Mensah #FinancialMarkets #banking #GhanaEconomy, and the pivotal role of #CouponPayments in our path to rejuvenation. 🌟📊💰 https://lnkd.in/dDnpcW4P

Last year, the Finance Minister, Ken Ofori-Atta, said over GH¢25 billion was spent by government to clean-up the banking sector. According to him, the move taken by government was to secure the funds of depositors, as well as strengthen the financial sector. It would be recalled that the Bank of Ghana in 2017 closed down some financial institutions in the country. This was after it revoked the class 1 banking licenses of nine banks during the financial sector clean-up. The UT Bank, Capital Bank, Sovereign Bank, Beige Bank, Premium Bank, The Royal Bank, Heritage Bank, Construction Bank and UniBank were the affected banks, while some banks were later merged to continue operation. This generated some controversies in the public space as to why a GH¢4 billion problem was made to cost the taxpayers GHS25 billion. Some were of the view that these banks were asked to capitalize to the tune of GHS400 million, and yet with the closure of banks, the bank incurred a public debt of GHS25 billion. The Governor of the Bank of Ghana has justified the Gh25billion financial sector clean up. Read more below 👇 https://lnkd.in/gFhmeGgp