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IFC and Ecobank partner to support SMEs in West and Central Africa

The International Finance Corporation (IFC) and pan-African banking group Ecobank have announced on May 26th the launch of a $110 million (€101 million) risk-sharing facility to increase access to...

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East African countries agree on regional framework for insurance supervision

The East African Insurance Supervisors Association (EAISA) has announced it is to develop a regional framework that will supervise activities of insurance companies in the East African Community. The...

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Equity Bank to expand to ten African countries

Kenyan banking group Equity Bank has announced plans to expand to ten new countries in Africa.It said it wants to expand first in Ethiopia, DRC and Burundi, followed by Mozambique, Malawi, Zambia and...

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EAC's microfinance institutions urged to apply for observer status

Microfinance institutions can benefit from regional integration if they apply for an observer status at the East African Community (EAC) secretariat, according to the permanent secretary at the...

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Launch of the first commodity exchange in East Africa

The first commodity exchange of East Africa was officially launched on July 3 in Kigali, Rwanda. The East Africa Exchange (EAX) was established by investment companies Heirs Holdings, Berggruen...

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Burundi: Government unveils two financial mechanisms for the disadvantaged in...

The Government of Burundi has set up two new mechanisms to help the impoverished rural population access credit, namely the Guarantee Fund for Credit to the Rural World (FG) and the Microcredit for the...

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Burundi: AFD grants €3 million to develop microfinance

A €3 million agreement to support the implementation of the 2012 - 2016 microfinance sector strategy in Burundi was signed Tuesday (6 May) between France, Burundi and the French Development Agency...

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Burundi : The Governor of the Central Bank unveils banking law reforms

A revision of the 2003 Banking Act is necessary to ensure the financial stability of the country, the governor of the Central Bank of Burundi Jean Ciza has said.During a workshop on the draft revision...

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EAC and AfDB launch a platform to facilitate cross-border payments

The East African Community (EAC) and the African Development Bank (AfDB) launched on Monday, March 10 the EAC Payment and Settlement Systems Integration Project (EAC-PSSIP), in order to enhance the...

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East Africa: Mobile as Africa's debit card

In countries where mobile money has been particularly successful like Kenya, Uganda and Tanzania, the next unfolding wave of growth is payments integration. A new company, Yo Uganda, facilitates...

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New cross-border payment system marks new step towards financial integration...

Three members of the East African Community (EAC) - Uganda, Kenya and Tanzania - have now linked their Real Time Gross Settlement (RTGS) systems through the East African Cross Border Payment System...

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AfDB grants over €50 million to support SMEs in COMESA

PTA Bank has received a $50 million (€ 36.7 million) line of credit and $20 million in equity from the African Development Bank (AfDB) to contribute to the development of the private sector in the...

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EAC countries harmonise their insurance regulations

Uganda, Kenya, Tanzania, Rwanda and Burundi have agreed to harmonise their regulations around the 26 insurance principles issued by the International Association of Insurance Supervisors."The next...

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Burundi launches new project to boost youth employment and finance their...

A €5 million project to promote youth employment in Burundi was launched last Tuesday (May 7th), reports Xinhua news agency.The "Jobs for Rural Youth"initiative aims to promote sustainable employment...

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Burundi launches an investment fund for agriculture

Burundi's Ministry of Agriculture and Livestock has launched a Competitive Investment Fund for Commodities (FIF) to improve the financing of agricultural producers."If we cannot provide significant...

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The CEEAC finances 300 microprojects

The African Development Bank (AfDB) and the Economic Community of Central African States (ECCAS) have just agreed to finance 300 regional microprojects for $10 million.The Fund for Local Development...

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Central Banks in East Africa move towards more financial integration

Central Banks in East Africa are testing a new cross border payment system in a bid to strengthen financial integration in the region.Central Bank of Kenya's head of national payment systems Stephen...

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Burundian farmers calling for the creation of an agricultural bank

In Burundi, the Confederation of Agricultural Producers Associations for Development (CAPAD), which regroups 26,000 households, called for the establishment of an agricultural bank to improve farmers'...

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Burundi: New report highlights the need to improve financial inclusion

A new report urged the government of Burundi to pursue its education and poverty reduction programs and encouraged banks to adopt new strategies to expand their customer base in a bid to improve...

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BANCOBU unveils mobile banking service

Consumers in Burundi are being offered the opportunity to manage their finances via their mobile phones.The Burundi Commercial Bank (BANCOBU) has this week unveiled Mobicash in collaboration with...

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