Credit extended by the monetary banking system to the private sector increased in the first quarter of 2021, with loans to households being the key driver of growth.
This is according to a new report by the Central Bank of Kenya which indicates that lending to the household sector increased by Sh39 billion compared to Sh9.7 billion in the previous quarter partly reflecting focus by banks on secured individual lending as well as on the use of digital platforms.
The Central Bank of Nigeria (CBN) yesterday reiterated the resilience, safety, and soundness of Nigerian Deposit Money Banks (DMBs) as well as the other financial institutions under its supervision.
The assurance came against the backdrop of "false and unfounded stories circulating in the social media attacking the soundness and safety of some Nigerian banks".
Factoring, which is a financial management technique allowing a company to liquidate its receivables and recover cash, can be an alternative and complementary solution to financing, in particular for SMEs and SMIs the Governor of the Central Bank of West African States (Bceao), Tiémoko Meyliet Koné said at the official opening, on Tuesday, July 13, of the series of joint BCEAO-AFREXIMBANK-FCI webinars on the theme "factoring and financing of receivables in Africa".