insert_link World US Fed chair won’t resign if Trump demands US Federal Reserve Chairman Jerome Powell has said he will not resign if asked to by incoming President Donald Trump. He was speaking after the Fed dropped interest rates by another quarter of a percentage point. As Nick Harper reports from Washington. todayNovember 8, 2024 15
insert_link Business / Economics 18 October 2024 Morning Biz News: BoN to Launch Sustainability Forum, South Africa Eyes Lower Inflation, Nigeria Reaps Reform Benefits, UK Eases Fiscal Limits The Bank of Namibia , in partnership with the Ministry of Finance, NAMFISA, and various financial institutions, is preparing to introduce a coordinated forum to promote sustainability in the financial sector, according to The Brief. BoN Governor Johannes !Gawaxab announced that the platform, slated for launch in the coming weeks, will enhance coordination and collaboration on sustainability initiatives. In other financial news, South Africa’s central bank governor, Lesetja Kganyago, reaffirmed […] todayOctober 18, 2024 6
insert_link Africa Ghana’s economic crisis was caused by government borrowing – the central bank did the best it could: economist By Emmanuel Ameyaw, Tohoku University Ghana is going through its worst economic crisis in a generation. The past two years have seen record high inflation in the country. Ghana’s central bank (the Bank of Ghana) has been criticised in some quarters for its role in the country’s economic malaise, which has hit the profitability of Ghanaian banks. The Conversation Africa’s Godfred Akoto Boafo speaks to […] todayJune 17, 2024 14
insert_link Oshiwambo O Bank of Namibia oya sindana epapa lyo Transparency Award O Bank of Namibia oya sindana epapa lyo Transparency Award kegandja lyomapapa lyokomumvo lyo Annual Central banking Awards mo London mo 13 June. Oshiindingili shuunganekwa ko Central Banking Publications ohashi tyapula omapondolo dhingi moshigwana shoo Central bank. Momushangwa gwiikundaneki o Bank of Namibia oyati oya simanekwa omolwa oonkambadhala dhawyo dhingi omilandu dhawo dhopashimaliwa noku nawapaleka uundikuwetikile moshinakugwanithwa shayo shengungumano lyoondando. todayJune 15, 2024 14
insert_link Africa Nigeria suspends cybersecurity law Nigeria has suspended a planned levy on electronic transfers to fund cybersecurity. The Central Bank of Nigeria had in a circular last week directed all banks and mobile money operators to charge 0.5% of the value of electronic transfers as a cybersecurity levy. Ajeck Mangut reports. todayMay 15, 2024 26
insert_link Local Bank of Namibia launches the instant payment project to enhance financial inclusion. The Bank of Namibia today officially launched the Instant Payment Project, a pioneering initiative set to revolutionize financial services across Namibia. With a targeted official launch year of 2025, the project aims to significantly broaden financial inclusion by providing essential and affordable financial services to all whilst focusing on the rural and informal sectors which face logistical and financial challenges in accessing conventional banking services. In 2023, the […] todayApril 26, 2024 31
insert_link Africa Twin rate cuts set Mozambique apart as African currency rally By Seth Onyango, bird story agency Mozambique’s central bank has decisively cut its benchmark lending rate to 15.75% from 16.5%, setting a precedent as the first African country to slash rates twice in 2024. The move highlights Maputo’s aggressive push for economic growth amid a wider trend of cooling inflation and currency stability against the US dollar across Africa. Rate cuts in the southeastern African nation, prompted […] todayApril 8, 2024 30
insert_link Business / Economics Sri Lanka cuts key interest rates, seeks China deal Sri Lanka's central bank cut interest rates Tuesday as the prime minister visited China seeking a debt restructuring deal crucial to maintaining an IMF bailout. Transport minister and government spokesman Bandula Gunawardana said Prime Minister Dinesh Gunawardena was in Beijing, the island's biggest bilateral creditor. "We are in the final stages of restructuring our foreign debt and the prime minister is in China for this purpose," Gunawardana told […] todayMarch 26, 2024 24
insert_link Africa Burkina Faso, Mali and Niger hint at a new west African currency: what it’ll take for it to succeed By Thierno Thioune, Université Cheikh Anta Diop de Dakar On 11 February 2024, the head of Niger’s ruling military junta, General Abdourahmane Tiani, spoke of the possible creation of a common currency with Burkina Faso and Mali. “The currency is a first step toward breaking free from the legacy of colonisation,” he said on national TV, referring to the CFA franc inherited from French colonisation. Burkina Faso, […] todayMarch 15, 2024 16