The National Bank of Egypt, the tenth-largest bank in Africa and the Middle East by assets ($125 billion as of June 30, 2020), will benefit from a $100 million loan from the European Bank for Reconstruction and Development (EBRD).
The facility, which will be on-lent in the form of credits to small and medium-sized enterprises (SMEs), aims to support the Egyptian economy. The loan will be mainly granted to companies in the trade, industry, and sustainable agriculture sectors.
Widely acceptable that Ethiopia, as one of the world's fastest growing economies, is seeing carefully laid plans to boost its economy. And in order to strengthen the national economic growth better than ever, the government of Ethiopia is making different reform activities in the financial sector.
The current government of Ethiopia has embarked on a number of reforms to improve the efficiency and competitiveness of the banking sector in order to accelerate the process of economic growth. Of late, taking the reform as an advantage, different new Banks have been emerging.
TALKS on establishing Africa-wide youth entrepreneurship investment banks have started, with African Development Bank president Akinwumi Adesina championing the concept.
According to Adesina, Africa's youth is under-invested and in need of urgent attention.
"Youth entrepreneurship investment banks must become the focus of global support," said the celebrated Adesina.
He was speaking at a virtual discussion on scaling up financing for the continent's youth, organised by the Abidjan headquartered bank on Monday.
Following the quarterly meeting of its Monetary Policy Committee (MPC) on 19 May 2021, the Central Bank of Liberia (CBL) resolved to strengthen its engagement with commercial banks to mitigate the risks of non-performance loans on financial sector stability, with the aim of improving asset quality and loan appraisals. The CBL has also resolved that loan recovery be aggressively pursued, in compliance with its regulations.